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92-047
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Resolutions 1992
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92-047
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8/4/2005 3:43:44 PM
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<br />1.04. The Council has caused to be prepared and has <br />investigated the facts with respect thereto, a Modified <br />Development program for Development District No. 1 and Modified <br />Tax Increment Financing Plans for Tax Increment Financing <br />Districts No. 1 through No. 18 reflecting increased project costs <br />and increased geographic area within Development District No. 1 <br />and a proposed Tax Increment Financing Plan for proposed Tax <br />Increment Financing District No. 19, defining more precisely the <br />property to be included, the public costs to be incurred and <br />other matters relating thereto. <br /> <br />1.05. The Council has performed all actions required by law <br />to be performed prior to the modification, approval and adoption <br />of the Modified Development Program and Modified Tax Increment <br />Financing Plans for Development District No. 1 and Tax Increment <br />Financing Districts No. 1 through No. 18 and prior to the <br />approval and adoption of the proposed Tax Increment Financing <br />Plan for proposed Tax Increment Financing District No. 19. <br /> <br />1.06. The Council hereby determines that it is necessary <br />and in the best interests of the City at this time to modify, <br />approve and adopt the Modified Development Program and Modified <br />Tax Increment Financing Plans for Development District No. 1 and <br />Tax Increment Financing Districts No. 1 through No. 18 to reflect <br />increased project costs and increased geographic area within <br />Development District No. 1 and to create proposed Tax Increment <br />Financing District No. 19 and to approve and adopt the proposed <br />Tax Increment Financing Plan relating thereto. <br /> <br />Section 2. Findinqs. <br /> <br />2.01. The Council hereby finds, determines and declares <br />that the assistance to be provided through the adoption and <br />implementation of the Modified Development Program, Modified Tax <br />Increment Financing plans and proposed Tax Increment Financing <br />Plan are necessary to assure the development and redevelopment of <br />Development District No.1. <br /> <br />2.02. The Council hereby finds, determines and declares <br />that the Modified Development Program, Modified Tax Increment <br />Financing Plans and proposed Tax Increment Financing Plan conform <br />to the general plan for the development and redevelopment of the <br />City as a whole in that they are consistent with the City's <br />comprehensive plan. <br /> <br />2.03. The Council hereby finds, determines and declares <br />that the Modified Development Program, Modified Tax Increment <br />Financing Plans and proposed Tax Increment Financing Plan afford <br />maximum opportunity consistent with the sound needs of the City <br /> <br />2 <br />
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