A. The Council shall consider creation of an Economic Improvement
District whenever owners of Subject Properties file with the Auditor a petition
for the establishment of a District containing the signatures of the owners of
33 percent or more of the area or of the assessed value of subject properties
within the proposed District or whenever a City Commissioner or the Mayor files
a report recommending the establishment of a District. A petition or report
shall contain a Preliminary Economic Improvement Plan. B. The Council may adopt a resolution directing the lead bureau to
begin the Economic Improvement District formation process if the Council finds
that:
1. The costs of administering the proposed Economic Improvement
District would not be substantial in relationship to the cost of the economic
improvements;
2. It is not likely that the economic improvements would be
satisfactorily and equitably accomplished except through establishment of the
Economic Improvement District;
3. Establishment of the Economic Improvement District would be in
the public interest;
4. In the case of a District intended to impose a mandatory assessment,
that the assessment can be accommodated within the property tax limitation and
City budget; and
5. The economic improvements would afford a special and peculiar
benefit to subject properties within the Economic Improvement District
different in kind or degree from that afforded to the general public.
C. The resolution may contain such revisions to the preliminary
economic improvement plan as the Council deems appropriate based on the criteria
set out in Paragraphs 1 through 5 of this Subsection and shall designate those
City offices, bureaus, and commissions to be represented on the task force for
the proposed District.
D. Upon adoption by the Council of a resolution under Subsection B of
this Section, the Mayor shall designate a lead bureau for the proposed Economic
Improvement District from among those designated to be represented on the task
force and shall refer the matter to the Commissioner In Charge.
E. Immediately following the referral under Subsection D of this
Section, the Commissioner In Charge shall appoint an advisory committee to
assist the task force in development of the final economic improvement plan. The
Commissioner shall strongly consider appointment of owners of property within
the Economic Improvement District to the advisory committee. The Commissioner
may appoint as the advisory committee an existing association of property owners
or tenants or both. The task force shall encourage participation of the advisory
committee in the plan development and administration process. The advisory
committee shall appoint a representative to the task force.
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