WHEREAS, on or about December 5, 1995, the Detroit City Council (Council) approved an ordinance to amend and modify the City of Detroit Downtown Development Authority Tax Increment Financing Plan and Development Plan for Development Area No. 1 (the Plan); and
WHEREAS, said amending ordinance added the Land Assemblage Program (the Program) to the Plan; and
WHEREAS, under the Program the City of Detroit Downtown Development Authority (the DDA) was authorized to acquire land within the DDA's Development Area No. 1 and assemble same into attractive parcels of developable size; and
WHEREAS, the Program prohibits the DDA from using any of the $30,000,000 of tax increment funds appropriated for it for demolition and clearance until the DDA had submitted to Council, for its review and approval, the specific Program project which identities the real property to be demolished and cleared; and
WHEREAS, both the City of Detroit and the DDA agree that the demolition and clearing of said property, combined with available parcels in the area, will provide a strong incentive for major developers who are looking to participate in the resurgence of Detroit; now, therefore, be it
RESOLVED, by the City Council of the City of Detroit as follows:
Re: Implementation of DDA's Assemblage Program
The City of Detroit Downtown Development Authority (the DDA) considers the latest events1) the purchase of the Renaissance Center by General Motors and relocation of its Corporate Headquarters to downtown Detroit, 2) passage of the Wayne County Proposal S related to the County take to support the development of the Stadia Complex, and 3) passage of the State Proposal E related to the development of three casino facilities in the City of Detroit to be of great economic development importance and impact for the City of Detroit.
As a consequence, the DDA, working in close relationship with the Greater Downtown Partnership, Inc. (GDPI), is ready to proceed with implementation of Phase I of its Land Assemblage Program, as described in its Tax Increment Plan and Development Plan for Development Area No. 1 (the Plan), last amended by the DDA and approved by City Council on November 13, 1996.
Section 407.9.2 of the Plan (Land Assemblage), among other things, states that prior to expending any portion of the $30.0 million on demolition/clearance costs, the Authority shall present to the City Council of the City of Detroit for its review and approval the Land Assemblage Plan which identifies the real property to be demolished. Since the DDA is now prepared to use a portion of its $30.0 million allocation for the Land Assemblage Progress, we have detailed below the activities related to Phase I of the of the DDA Land Assemblage Program:Scope