R-1982-11 - Laserfiche WebLink

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. . . It e Resolution 82-l1, page 4 will not approve the issuance of the Corporation's bonds to finance any projects for commercial uses in or adjacent to the EBA unless the applicant desiring approval of such project demonstrates to the satisfaction of the City Council that: A. ment of EBA; The project will significantly contribute to the fulfill- the overall redevelopment objectives of the City for the B. The project conforms to the project approval standards of the Rules and this Resolution by removing a blighted condition or increasing or stabil izing employment opportuni ties, signif i- cantly increasing or stabilizing the property tax base, promoting co:nmerce within the City and the State and not causing economic decline or blight in another area of the City; C. The p~oject is supported by an economic feasibility analysis which demonstrates its economic viability; and D. The project is in furtherance of the public purposes of the Ac t. Section 5. Based upon the City's best estimates as of the date ot this Resolution, a description of the proposed public improvements to be made in the EBA, including the estimated comnencement date, approximate schedule and sources of funds to be used by the City for such public improvements, are as set forth in Exhibit "B" to this Resolution. Section 6. The City Council hereby covenants and represents that it \Vill revie\v all project descriptions for approval of sp~cific projects for commercial uses in order to determine \vhether such projects are consistent with the City's objectives for re- development of the EBA. Section 7. The City Secretary of the City is hereby directed to provide a certified copy of this Resolution, including all exhibits, to the Executive Dir~cto~ of the Commission as required by the Rules. Unless the City shall be notified by the Commission to the contrary in writing \vithin thit.ty (30) days from the date of receipt of such certified copy ot this Resolution, the E01\ shall be deemed accepted by the Commission, and the City and the Corpot'a- tion may thereafter app~ove projf~cts fo~ commercial uses in and adjdccnt to the EO^ in compliance with the Act, the Rules and this Resolution. Section 8. satisfying the This Resolution is adopted cond i t ions and re'1u i ~emen ts for the purposes of of the Act and the ..