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Prior
to commencing work on a redevelopment project, a developer may request
consideration by the TIF Commission to consider approval of a Redevelopment
Plan and Redevelopment Project to assist in the financing, including
issuance of bonds, and/or acquisition of property. The TIF Commission,
after providing the required notices twice in the newspaper and once
by certified mail to property owners within the redevelopment area,
will hold a public hearing at which the Commission takes public testimony,
receives testimony and makes certain findings. The TIF Commission
may continue or close the public hearing. Once the public hearing
has been closed, the Statutory Commission must within 30 days make
such findings as may be appropriate and vote to recommend to the governing
body approval or disapproval of the proposed plan. If the Commission
recommends approval, an ordinance shall be introduced in the governing
body within fourteen to ninety days. If the recommendation is not
to approve the proposed TIF plan, notice is to be forwarded to the
governing body within 90 days. |
