(A) The Village Council after a public hearing on the development plan or the tax increment financing plan, or both, with notice thereof given in accordance with § 151.38, shall determine whether the development plan or tax increment financing plan constitutes a public purpose.
(B) If it determines that the development plan or tax increment financing plan constitutes a public purpose, it shall then approve or reject the plan, or approve it with modification, by ordinance based on the following considerations:
(1) The plan meets the requirements set forth in § 151.37(B);
(2) The proposed method of financing the development is feasible and the Authority has the ability to arrange the financing;
(3) The development is reasonable and necessary to carry out the purposes of this chapter;
(4) The land included within the development area to be acquired is reasonably necessary to carry out the purposes of the plan and of this chapter in an efficient and economically satisfactory manner;
(5) The development plan is in reasonable accord with the Master Plan of the village;
(6) Public services, such as fire and police protection and utilities, are or will be adequate to service the project area; and
(7) Changes in zoning, streets, street levels, intersections and utilities are reasonably necessary for the project and for the village.
(C) Amendments to an approved development plan or tax increment plan must be submitted by the Authority to the Village Council for approval or rejection.
(Ord. 187, passed 7-14-2010)