125.4417 Development plan or tax increment financing plan as constituting public purpose; approval or rejection; considerations; amendments; procedure, notice, findings,
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125.4417 Development plan or tax increment financing plan as constituting public purpose; approval or rejection; considerations; amendments; procedure, notice, findings, and amendment as conclusive; contest.
Sec. 417.
(1)After a public hearing on the development plan or the tax increment financing plan, or both, with notice of the hearing given pursuant to section 416, the governing body shall determine whether the development plan or tax increment financing plan, or both, constitutes a public purpose. If the governing body determines that the development plan or tax increment financing plan, or both, constitutes a public purpose, the governing body may then approve or reject the plan, or approve it with modification, by resolution, based on the following considerations:
(a)Whether the development plan meets the requirements set forth in section 415(2) and the tax increment financing plan meets the requirements set forth in section 412(1), (2), and (3).
(b)Whether the proposed method of financing the public facility or facilities is feasible and the authority has the ability to arrange the financing.
(c)Whether the development is reasonable and necessary to carry out the purposes of this part.
(d)Whether the amount of captured assessed value estimated to result from adoption of the plan is reasonable.
(e)Whether the land to be acquired under the development plan is reasonably necessary to carry out the purposes of the plan and the purposes of this part.
(f)Whether the development plan is in reasonable accord with the approved master plan of the municipality, if an approved master plan exists.
(g)Whether public services, such as fire and police protection and utilities, are or will be adequate to service the property.
(h)Whether changes in zoning, streets, street levels, intersections, and utilities are reasonably necessary for the project and for the municipality.
(2)Except as provided in this subsection, amendments to an approved development plan or tax increment plan must be submitted by the authority to the governing body for approval or rejection following the same notice and public hearing provisions that are necessary for approval or rejection of the original plan. Notice and hearing shall not be necessary for revisions in the estimates of captured assessed value and tax increment revenues.
(3)The procedure, adequacy of notice, and findings with respect to purpose and captured assessed value shall be conclusive unless contested in a court of competent jurisdiction within 60 days after adoption of the resolution adopting the plan. An amendment, adopted by resolution, to a conclusive plan shall likewise be conclusive unless contested within 60 days after adoption of the resolution adopting the amendment. If a resolution adopting an amendment to the plan is contested, the resolution adopting the plan is not open to contest.
History: 2018, Act 57 , Eff. Jan. 1, 2019