Following a duly noticed public hearing held on May 8, 1995, on the Tax Increment Financing and Development Plan adopted by City of Lincoln Park Downtown Development Authority on April 5, 1995, ("the Plan"), and having given due consideration to the following standards and criteria as set forth in Section 19(1) of Act 197 of the Public Acts of 1975, as amended, it is hereby found and determined that the Tax Increment Financing and Development Plan constitutes and seeks to accomplish a public purpose.
(a) The tax increment financing plan meets the requirements set forth in Sections 14 and 15 of said Act 197, as amended;
(b) The development plan meets the requirements set forth in Section 17(2) of said Act 197, as amended;
(c) The proposed method of financing the development is feasible and the Authority has the ability to arrange the financing;
(d) The development is reasonable and necessary to carry out the purposes of said Act 197, as amended;
(e) The development of plan is in reasonable accord with the Master Plan of the City;
(f) Public services, such as fire and police protection and utilities, are or will be adequate to service all project areas; and
(g) No changes in the zoning of streets, or in street levels, intersections or utilities, are necessary at this time.
(Res. 95-297. Passed 5-15-95.)