Following the recommendation of the Township Downtown Development Authority (the “Authority”) from March 11, 2002, and having conducted a duly noticed public hearing on the Development Plan and Tax Increment Financing Plan (Exhibit “A”) on April 9, 2002, the Township Board of Trustees, upon its review, finds that these plans meet the following standards and criteria as set forth in Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq.
(A) The Development Plan for the Authority’s development area meets the requirements set forth in Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq., in that it contains all of the following:
(1) The designation of boundaries of the development area in relation to highways, streets, streams or otherwise;
(2) The location and extent of existing streets and other public facilities within the development area, shall designate the location, character and extent of the categories of public and private land uses then existing and proposed for the development area, including residential, recreational, commercial, industrial, educational and other uses, and shall include a legal description of the development area;
(3) A description of existing improvements in the development area to be demolished, repaired, or altered, a description of any repairs and alterations, and an estimate of the time required for completion;
(4) The location, extent, character and estimated cost of the improvements including rehabilitation contemplated for the development area and an estimate of the time required for completion;
(5) A statement of the construction or stages of construction planned, and the estimated time of completion of each stage;
(6) A description of any parts of the development area to be left as open space and the use contemplated for the space;
(7) A description of any portions of the development area that the authority desires to sell, donate, exchange or lease to or from the municipality and the proposed terms;
(8) A description of desired zoning changes and changes in streets, street levels, intersections or utilities;
(9) An estimate of the cost of the development, a statement of the proposed method of financing the development, and the ability of the authority to arrange the financing;
(10) Designation of the person or persons, natural or corporate, to whom all or a portion of the development is to be leased, sold or conveyed in any manner and for whose benefit the project is being undertaken if that information is available to the authority;
(11) The procedures for bidding for the leasing, purchasing or conveying in any manner of all or a portion of the development upon its completion, if there is no express or implied agreement between the authority and persons, natural or corporate, that all or a portion of the development will be leased, sold or conveyed in any manner to those persons;
(12) Estimates of the number of persons residing in the development area and the number of families and individuals to be displaced. If occupied residences are designated for acquisition and clearance by the authority, a development plan shall include a survey of the families and individuals to be displaced, including their income and racial composition, a statistical description of the housing supply in the community, including the number of private and public units in existence or under construction, the condition of those units in existence, the number of owner-occupied and renter-occupied units, the annual rate of turnover of the various types of housing and the range of rents and sale prices, an estimate of the total demand for housing in the community, and the estimated capacity of private and public housing available to displaced families and individuals;
(13) A plan for establishing priority for the relocation of persons displaced by the development in any new housing in the development area;
(14) Provision for the costs of relocating persons displaced by the development and financial assistance and reimbursement of expenses, including litigation expenses and expenses incident to the transfer of title, in accordance with the standards and provisions of the Federal Uniform Relocation, Assistance and Real Property Acquisition Policies Act of 1970, being Public Law 91-646, 42 U.S.C. §§ 4601 et seq.;
(15) A plan for compliance with Public Act 227 of 1972, being M.C.L.A. §§ 213.321 to 213.332; and
(16) Other material that the authority, local public agency, or governing body considers pertinent.
(B) The tax increment financing plan for the development area meets the requirements as set forth in Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq., as follows:
(1) A development plan including a detailed explanation of the tax increment procedure, the maximum amount of bonded indebtedness to be incurred, and the duration of the program. The plan contains a statement of the estimated impact of tax increments financing on the assessed values of all taxing jurisdictions in which the development area is located. The plan includes the portion intended to be used by the Authority. The plan sets forth the method for excluding growth and property value resulting solely from inflation;
(2) The percentage of taxes levied for school operating purposes that is proposed to be captured and used by the tax increment financing plan is not greater than the plan’s percentage capture and use of taxes levied by a municipality or the county for operating purposes. Approval of this tax increment financing plan is pursuant to the notice, hearing and disclosure provisions of Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq. The township has provided a reasonable opportunity to the taxing jurisdictions levying taxes subject to capture to meet with the township. The taxing jurisdictions have been informed of the fiscal and economic implications of the proposed development area. The township has entered into an intergovernmental agreement with the county to facilitate the creation of the Downtown Development Authority. The tax increment financing plan may be modified by the Township Board upon notice and after public hearings and agreements as were required for the approval of the original plan; and
(3) The Township Treasurer shall transmit to the Authority tax increment revenues as provided in Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq. The Township Downtown Development Authority shall expend the tax increment revenues received for the development program only pursuant to the tax increment financing plan. Surplus funds shall revert proportionately to the respective taxing bodies. These revenues shall not be used to circumvent existing property tax limitations and in all other respects the Downtown Development Authority shall comply with the requirements of Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq., including annually reporting to the Township Board and the State Tax Commission a report on the status of the tax increment financing account. The report shall also be published in a newspaper of general circulation in the township including all of the information required by Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq.
(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 Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq.
(E) The land within the development area designated by the plan to be acquired is reasonably necessary to carry out the purposes of the plan and of Public Act 57 of 2018, being M.C.L.A. §§ 125.4101 et seq., in an efficient and economically satisfactory manner.
(F) The development plan is in reasonable accord with the master plan for the township.
(G) Public services such as fire and police protection and utilities are, or will be, adequate to serve the project area.
(H) Proposed changes to zoning, streets, street levels, intersections and utilities are reasonably necessary for the project and for the township.
(I) Through its deliberations toward the adoption of this subchapter, the Board of Trustees of the township has found that there is a public interest to be served in the adoption and implementation of the development plan and tax increment financing plan for the Authority’s development area.
(Prior Code, § III-2.00)