1984-04-04 Regular Meeting of La Porte City Council

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-, c. ( ( ~ ~ Resolution 82-11, page 4 will not' approve the issuance of the Corporation's bonds to finance any projects for commercial uses in or adjacent to the E8A unless the applicant desiring approval of such project demonstrates to the satisfaction of the City Council that: --'" A. The ?roject will significantly contribute to the fulfill- ment of the overall redevelopment objectives of the City for the EBA; B. The project conforms to the project approval standards of the Rules and this Resolution by removing a blighted condition or increasing or stabilizing employment opportunities, signifi- cantly increasing or stabilizing the property tax base, promoting co:nme rce \"ri thin the Ci ty and the State and not caus ing economic decline or blight in another aiea of the City; C. The project 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 Act. Section 5. Based upon the City's best estimates as of the date or this Resolution, a description of the proposed pUblic i:nprovements to be made in the EBA, including the estimated comr:\encement 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 specific projects for commercial us~s in order to determine \Vhether such projects are consistent with the City'S objectives for re- development of the EllA. 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~ctor of the Corn~ission ~s required by the Rules. Unless the City shall be notified by the Co;n:nission to t!le contrary in \vriting \vithin thi::ty (30) days from the date of receipt of such certifi~c1 copy ot this Resolution, the ESt\ shall be deemed accepted by the Commission, and th~ City and the Corpora- tion may there<1fter approve projl~cts fot:' commercial uses in cJnd ad j <.lcen t to the EBA in compl iance \,' i th the Ac t, the Rules and th is ?r2501ution. Section 8. satis!:!ing the Th is Resol u t ion is ado[)ted cond i t ions cJnd requ i remen ts for the purposes of of the Act and the