(a) The depot area development plan and the tax increment financing plan, together called "plans," dated December, 1984, incorporated by reference, as prepared by the downtown development authority and approved by the authority on the fifth day of December, 1984, and the mailing, posting and publication of notice of public hearing on the plans to interested persons was given as required under sections 14 and 18 of Act No. 197 of the Public Acts of Michigan of 1975 (MCL 125.1664, 125.1668), as amended, and a public hearing was held the fourteenth day of January, 1985, following which the city commission determined that the plans constitute a public purpose, and the city commission does hereby ordain, adopt and approve the plans based on the following considerations, pursuant to section 19 of Act No. 197 of the Public Acts of Michigan of 1975 (MCL 125.1669), as amended:
(1) A development area citizens council is not required pursuant to the provisions of Act No. 197 of 1975;
(2) The plans meet the requirements set forth in section 17(2) of Act No. 197 of 1975;
(3) The proposed method of financing the development is feasible and the authority has the ability to arrange the financing;
(4) The development is reasonable and necessary to carry out the purpose of Act No. 197 of 1975;
(5) The land included within the development area to be improved is reasonably necessary to carry out the purposes of the plans and of Act No. 197 of 1975 in an efficient and economically satisfactorily manner;
(6) The development plan is in reasonable accord with the master plan of the city;
(7) Public services such as fire and police protection and utilities are or will be adequate to service the project area; and
(8) Changes in zoning, streets, street levels, intersections and utilities are reasonably necessary for the project and for the municipality.
(b) The plans shall be applicable to that land area added to the downtown development district by section 10-31, and the added land area is hereby established as the depot tax increment financing district for the depot area development plan and tax increment financing plan.
(Ord. No. 328, 2-25-85)