Title
Public Hearing on the Establishment of a Joint Local Development Finance Authority with the City of Auburn Hills
Body
WHEREAS, Public Act 281 of 1986 is an act to prevent urban deterioration and toencourage economic development including, but not limited to, high-technology industries and activity and to encourage neighborhood revitalization and historic preservation and to provide a mechanism for developing and implementing plans within a development area, and
WHEREAS, Public Act 281 of 1986 provides for the establishment of local development finance authorities as well as joint authorities and to prescribe its powers and duties; to provide for the creation and implementation of development plans; to authorize the acquisition and disposal of interests in real and personal property; to permit the issuance of bonds and other evidences of indebtedness by an authority; to prescribe powers and duties of certain state officers and agencies; and to authorize and permit the use of tax increment financing, and
WHEREAS, Section 3 (2) of Act 281 [MCL 125.2153] provides that a municipality may join with one or more other municipalities located within the same county to establish a joint authority under the Act, and
WHEREAS, Section 4 (7) of Act 281 [MCL 125.2154] provides that the city councils of two or more municipalities may declare by resolution their intention to create and provide for the operation of a joint authority, and
WHEREAS, the City Council of the City of Rochester Hills on July 21, 2004 approved a resolution of intent to hold a public hearing on August 18, 2004 to create a Joint Local Development Finance Authority and establish boundaries, and
WHEREAS, the City Council of the City of Auburn Hills on July 19, 2004 approved a resolution of intent to hold a public hearing on August 23, 2004 to create a Joint Local Development Finance Authority and establish boundaries, and
WHEREAS, notice of the City of Rochester Hills's public hea...
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