(A) The City Council hereby finds and determines as follows:
(1) The designation of the Business District identified in the Business District Plan, being legally described on Exhibit A and depicted on Exhibit B, which exhibits are attached to and incorporated by reference in Ordinance 2005-02 and amended by Ordinance 2005-18, as a business district assures opportunities for development and redevelopment and attracting sound and stable commercial growth;
(2) The real property comprising the Business District is contiguous and includes only those parcels directly and substantially benefitted by the Business District Plan;
(3) Upon consideration of the blight analysis, as it applies to the Business District, and the Business District Plan, the Business District is a “blighted area” in accordance with the Business District Act, being ILCS Ch. 65, Act 5, § 11-74.3, that, by reason of the predominance of defective or inadequate street layout, unsanitary or unsafe conditions, deterioration of site improvements, improper subdivision or obsolete platting, or the existence of conditions which endanger life or property by fire or other causes, or any combination of these factors, constitutes an economic and social liability and a menace to the public health, safety, morals or welfare of the city;
(4) The Business District on the whole has not been subject to growth and development through investment by private enterprises or would not have reasonably been anticipated to be developed or redeveloped without the adoption of the Business District Plan; and
(5) The city’s exercise of the powers provided in the Business District Act, being ILCS Ch. 65, Act 5, § 11-74.3, is dedicated to the promotion of the public interest and to the enhancement of the tax base of the Business District, and the city’s use of those powers for the development and redevelopment of the Business District as provided in the Business District Plan is a public use essential to the public interest.
(B) The Business District is hereby designated as a “business district” in accordance with the Business District Act, being ILCS Ch. 65, Act 5, § 11-74.3.
(Ord. 2005-02, passed 2-7-2005; Ord. 2005-18, passed 8-1-2005)