§ 35.09 TERMINATION.

   Upon completion of its purposes, the Authority may be dissolved by the Village Board. The property and assets of the Authority, after dissolution and satisfaction of its obligation, shall revert to the village.

(Ord. passed 11-19-2012)

AMENDED PLAN

§ 35.20 FINDINGS.

   (A)   The development plan included in the amended plan meets the requirements set forth in section 17 of Act 197 of 1975, and the tax increment financing plan meets the requirements set forth in section 14 of Act 197 of 1975. (See § 35.03 for definition.)

   (B)   The proposed method of financing the development and is feasible, and the Downtown Development Authority has the ability to arrange financing.

   (C)   The development is reasonable and necessary to carry out the purposes of the Act, as amended.

   (D)   The land included within the development area to be acquired is reasonably necessary to carry out the purposes of Act 197 of 1975.

   (E)   The development plan is in reasonable accord with the master plan of the village.

   (F)   Public services, such as fire and police protection and utilities, are or will be adequate to service the development area.

   (G)   Changes in zoning, streets, street levels, intersections, and utilities, to the extent required by the amended plan are reasonably necessary for the project and for the village.

(Ord. passed 10-7-2013)

§ 35.21 PUBLIC PURPOSE.

   The Village Council hereby determines that the amended plan constitutes a public purpose.

(Ord. passed 10-7-13)

§ 35.22 BEST INTEREST OF THE PUBLIC.

   The Village Council hereby determines that it is in the best interest of the public to halt property value deterioration, increase property tax valuation, to eliminate the causes of the deterioration in property values, aud to promote growth in the Downtown District to proceed with the amended plan.

(Ord. passed 10-7-2013)