Laserfiche WebLink
that development and redevelopment within the City be undertaken and that to remove and <br /> alleviate such Recovery Zone Conditions in the City it is necessary to encourage private <br /> investment and restore and enhance the tax base of the City and the Taxing Districts by such <br /> development and redevelopment. <br /> J. The City has evaluated various lawfully available programs to provide such <br /> assistance and has determined that the use of the several incentives available to the City under <br /> the Stimulus Act are advisable and necessary to achieve the development and redevelopment <br /> goals of the City for the proposed recovery zone. <br /> K. The officers and employees of the City who are responsible for planning and <br /> economic development studies and for making recommendations to the Council as to such <br /> matters have reviewed the area of the City as a whole to determine whether such city-wide area <br /> qualifies as a "recovery zone" for purposes of the Stimulus Act, and such staff has provided its <br /> analysis and recommendation, available to the Council and in the offices of the City Manager of <br /> the City, and by such analysis have advised the Council that the City as a whole qualifies as a <br /> "recovery zone" under the Stimulus Act. <br /> L. The Council is generally informed and familiar with the conditions now extant in <br /> the City. <br /> M. The County, in a resolution adopted by the County Board of the County (the <br /> "Board") on the 12th day of November, 2009, did allocate all of the County's recovery zone <br /> economic development bond allocation to the City, namely, $3,469,000, to be used for eligible <br /> projects under the Stimulus Act. <br /> N. The County, in a resolution adopted by the Board on the 12th day of November, <br /> 2009, did allocate all of the County's recovery zone facility bond allocation to the City, namely, <br /> $5,204,000, to be used for eligible projects under the Stimulus Act. <br /> -3- <br />