Examples of Creation Ordinance in a sentence
Among other provisions required by the Act, the Creation Ordinance appointed a Board of Directors for the Zone (the “Board”).
The Creation Ordinance also establishes a District Advisory Board (the “District Advisory Board”) and delegates certain powers and authority to the District Advisory Board as set forth in the Creation Ordinance.
The term of the Zone commenced immediately upon passage of the Creation Ordinance by the City Commission and shall continue until December 31, 2045 (with final collection anticipated by September 30, 2046).
The provisions of this section were included in the Creation Ordinance.
The stated term of the Zone shall commence on the creation of the Zone, and shall continue for thirty (30) years until December 31, 2049, with the last payment being received by September 1, 2050 unless otherwise terminated in accordance with the TIRZ Creation Ordinance.
The stated term of the Zone shall commence on the creation of the Zone, and shall continue for thirty six (36) years, until December 31, 2056, with the last payment being received by September 30, 2057, unless otherwise terminated in accordance with the TIRZ Creation Ordinance.
After the Creation Ordinance was adopted by the City Council, the Board prepared, adopted, and recommends to the City Council this Final Plan, pursuant to which the City will contribute a portion of its ad valorem tax increment (the “City Tax Increment”) attributable to new development in the Zone into a tax increment fund created by the City and segregated from all other funds of the City (the “TIRZ Fund”) to the costs of public works, public improvements, programs and other projects benefiting the Zone.
Upon the closing of the above referenced public hearing, the City Council adopted the Creation Ordinance in accordance with the Act creating the Zone finding that (1) development or redevelopment of the Property would not occur solely through private investment in the reasonably foreseeable future, (2) the Zone is feasible, and (3) improvements in the Zone will significantly enhance the value of all the taxable real property in the Zone and will be of general benefit to the City.
The public hearing for a Creation Ordinance is set for the same time as the third reading (third agenda appearance) of the Ordinance.
Upon the closing of the above referenced public hearing, the City Council adopted the Creation Ordinance in accordance with the Act (1) upon findings by the City Council that development or redevelopment of the Property would not occur solely through private investment in the reasonably foreseeable future, (2) that the Zone is feasible, and (3) that improvements in the Zone will significantly enhance the value of all the taxable real property in the Zone and will be of general benefit to the City.