(a) Premised upon the determination made in Section 271.20, and upon the further finding that the pursuit and execution of the Plan appears to be in the best interests of the City, the Tax Increment Financing and Development Plan is hereby accepted.
(b) Findings.
(1) The Amended and Restated Development Plan portion of the Plan meets the requirements set forth in section 17(2) of the Act, and the Amended and Restated Tax Increment Financing Plan portion of the Plan meets the requirements set forth in section 14(2) of the Act.
(2) The proposed method of financing the development is feasible, and the Authority has the ability to arrange financing.
(3) The development is reasonable and necessary to carry out the purposes of the Act.
(4) Any land included within the Development Area to be acquired is reasonably necessary to carry out the purposes of the Act.
(5) The Development portion of the Plan is in reasonable accord with the master plan of the City.
(6) Public service, such as fire and police protection and utilities, are or will be adequate to service the Development Area.
(7) Changes in zoning, streets, street levels, intersections, and utilities, to the extent required by the Plan, are reasonably necessary for the Plan and for the City.
(Res. 95-297. Passed 5-15-95; Res. 04-131A. Passed 4-5-04.)