91-92 APPROVING THE TAX INCREMENT REDEVELOPMENT PLAN AND PROJECT

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t � • , � � , 4 , ' . vacant areas because and the sound growth of the � taxing districts is impaired by: . ' � � A. A substantial , central part of the � � Redevelopment Project Area which is an unused railroad right-of-way, is ipso facto blighted vacant land under the Act. B. Other parts of the Redevelopment Project Area, which are blighted vacant by reason of obsolete platting and deterioration of structures in neighboring area (the blighted improved/conservation areas) . c. The proposed Redevelopment Project Area on the whole has not been subject to growth and development through investment by private enterprise and would not be reasonably anticipated to be so developed without the adoption of the Redevelopment Plan and Project; d. The Redevelopment Plan and Project conform to the Comprehensive Plan for the development of the City as a whole; e. The parcels of real property in the proposed Redevelopment Project area are contiguous and those contiguous parcels of real property and improvements thereon which will be substantially benefited by the proposed project improvements are included in the proposed Redevelopment Project Area; f. The estimated date for final completion of the project is December 31 , 2006 . Section 2 . That the Redevelopment Plan and Project which were the subject matter of the public hearing held on December 2 , 1991 , is hereby adopted and approved. A copy of the Redevelopment Plan and Project, marked Exhibit 2 , is attached hereto and made a part of this Ordinance. Section 3 . This Ordinance shall be in full force and effect after passage and publication as provided by law. PRESENTED, PASSED, APPROVED AND RDED this 23rd day of December, 1991. � � GARY . ANDERSON MAYOR ATTEST: , � �,.; �' ' i �, , F, � /-� � �/.�'��"(�-i -��ITY CLERK , % - /�)� ,� �/ / ��, / � �j;:�-�/ ( f,1 . �. ' z r- f � ��c�� _ ��`'� �� C "��