Laserfiche WebLink
<br />Resolution 82-11, Page 4 <br /> <br />will not approve the issuance of the Corporation's bonds to finance <br />any projects for commercial uses in or adjacent to the EBA unless <br />the applicant desiring approval of such project demonstrates to the <br />satisfaction of the City Council that: <br />A. The project will significantly contribute to the fulfill- <br />ment of the overall redevelopment objectives of the City for the <br />EBA; <br />B. The project conforms to the project approval standards <br />of the Rules and this Resolution by removing a blighted condition <br />or increasing or stabilizing employment opportunities, signifi- <br />cantly increasing or stabilizing the property tax base, promoting <br />commerce within the City and the State and not causing economic <br />decline or blight in another area of the City; <br />C. The project is supported by an economic feasibility <br />analysis which demonstrates its economic viability; and <br />• D. The project is in furtherance of the public purposes of <br />the Act. <br />Section 5. Based upon the City's best estimates as of the <br />date of this Resolution, a description of the proposed public <br />improvements to be made in the EBA, including the estimated <br />commencement date, approximate schedule and sources of funds to <br />be used by the City for such public improvements, are as set forth <br />in Exhibit "B" to this Resolution. <br />Section 6. The City Council hereby covenants and represents <br />that it will review all project descriptions for approval of <br />specific projects for commercial uses in order to determine whether <br />such projects are consistent with the City's objectives for re- <br />development of the EBA. <br />Section 7. The City Secretary of the City is hereby directed <br />to provide a certified copy of this Resolution, including all <br />exhibits, to the Executive Director of the Commission as required <br />by the Rules. Unless the City shall be notified by the Commission <br />to the contrary in writing within thirty (30) days from the date <br />of receipt of such certified copy of this Resolution, the EBA shall <br />be deemed accepted by the Commission, and the City and the Corpora- <br />tion may thereafter approve projects for commercial uses in and <br />adjacent to the EBA in compliance with the Act, the Rules and this <br />Resolution. <br />Section 8. This Resolution is adopted for the purposes of <br />satisfying the conditions and requirements of the Act and the <br />