§ 340-9.2
Johnston Town Center Redevelopment and Project Plan approval
[Added 11-9-2009 by Ord. No. 2009-18]
The Johnston Town Council hereby adopts the "Johnston Town Center Redevelopment and Project Plan" dated October 22, 2009, and attached hereto and incorporated herein as "340 Attachment 1" after making the following findings:
- A. The properties located in Johnston Assessor's Plat 44, lots 83, 84, 85, 86, 88, 294, 295 and 355, compose a substandard, blighted area characterized by dilapidation, deterioration of site improvements, obsolescence, and an inadequacy of utilities;
- B. Said area is of mixed character which may lead to further deterioration and decline to the point where it may become detrimental to the public health, safety, morals, and welfare of the inhabitants of the Johnston community;
- C. Conditions of blight tend to foster the spread of these conditions to other areas and may become a significant liability for the Town;
- D. The project area herein described would not by private enterprise alone, and without governmental subsidy or the exercise of governmental powers, be developed or revitalized in a manner so as to prevent, arrest, or alleviate the spread of blight or decay;
- E. The plan will afford maximum opportunity to privately financed development or revitalization consistent with the sound needs of the city or Town as a whole;
- F. The financing of that portion of the project in accordance with the plan is in the public interest;
- G. The benefits that will result from the remedying of these conditions and redevelopment of these blighted areas, including, but not limited to, expanding the tax base, and generating new businesses and employment opportunities, will accrue to all of the inhabitants and property owners of the Town of Johnston;
- H. The project will create new jobs, both construction and nonconstruction, and provide wages and benefits and an impact on personal income taxes to the State of Rhode Island as shown in the Tax Increment Financing Bond Projections and Economic Impact Analysis, dated October 16, 2009, and incorporated herein and attached hereto as "340 Attachment 2"; and
Editor's Note: Said analysis is on file in the office of the Town Clerk.
- I. The Johnston Town Center Redevelopment and Project Plan is feasible, conforms to the Town's Comprehensive Community Plan, and if carried out, would eliminate the blighted area and replace it, through redevelopment, with a well-planned, integrated, stable neighborhood conducive to the public health, safety, morals, and welfare of the community.
Editor's Note: Said plan is on file in the office of the Town Clerk.