(A) The City hereby finds the area included in the Business District to be a “blighted area” as such term is used under the Business District Act based on the facts as set forth in the Business District Plan. The Business District shall have such additional powers available to the business district under the Business District Act as a result of the area in the Business District being a blighted area, including the power to impose a retailers’ occupation tax, a service occupation tax, and a hotel operators’ occupation tax in the business district for the planning, execution, and implementation of the Business District Plan.
(B) The City hereby makes the following findings with respect to the property within the business district pursuant to the Business District Act:
(1) The area to be designated as a Business District is contiguous;
(2) The Business District includes only parcels of real property directly and substantially benefitted by the Business District Plan;
(3) The Business District, in its entirety, is located within the city limits;
(4) The Business District is a blighted area; that, by reason of the predominance of defective or inadequate street layout, unsanitary or unsafe conditions, deterioration of site improvements, or the existence of conditions which endanger life or property by fire or other causes, or any combination of those factors, constitutes an economic or social liability or a menace to the public health, safety, morals, or welfare in its present condition and use;
(5) The Business District, on the whole, has not been subject to growth and development through investment by private enterprises or would not reasonably be anticipated to be developed without the adoption of the Business District Plan; and
(6) The Business District Plan conforms to the Comprehensive Plan for the development of the municipality as a whole, as determined by the City Council.
(C) The City hereby finds that the City Business District Plan includes the following:
(1) A specific description of the proposed boundaries of the Business District, including a map illustrating the boundaries;
(2) A general description of each project proposed to be undertaken within the Business District, including a description of the approximate location of each project;
(3) The name of the proposed Business District;
(4) The estimated Business District costs;
(5) The anticipated source of funds to pay Business District costs;
(6) The anticipated type and terms of any obligations to be issued (the obligations); and
(7) The rate of any tax to be imposed pursuant to division (12) or (13) of Section 11-74.3-3 of the Business District Act and the period of time for which the tax shall be imposed.
(Ord. O-08-01, passed 3-10-08)