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<br /> IWHEREAS, the Department, pursuant to the Act, has conducted surveys and
<br /> investigations and has thoroughly studied the CDA Territory, the WWC Territory and the
<br /> Expansion Area; and
<br /> WHEREAS, upon such surveys, investigations and studies being made, the
<br /> Commission finds that the Plan Amendment, which Plan Amendment is attached hereto as
<br /> 1 Exhibit F attached hereto and made a part hereof and is hereinafter adopted in this Resolution,
<br /> . cannot be achieved by regulatory processes or by the ordinary operations of private enterprise
<br /> t without resort to the powers allowed under the Act because of lack of local public improvements
<br /> and multiple ownership of land and that the public health and welfare will be benefited by the
<br /> accomplishment of the Plan Amendment; and
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<br /> WHEREAS, the Commission has caused to be prepared maps and plats of the
<br /> '. CDA Territory, the WWC Territory, and the Expansion Area showing the boundaries of the
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<br /> CDA Territory, the WWC Territory, and the Expansion Area, the location of the various parcels
<br /> 1 of property, streets and alleys and other features affecting the acquisition, clearance, replatting,
<br /> i replanning, rezoning, or redevelopment of the CDA Territory, the WWC Territory, and the
<br /> Expansion Area, and the parts of the CDA Territory, the WWC Territory, and the Expansion
<br /> Area that are to be devoted to public ways, levees, sewerage, parks, playgrounds, and other
<br /> public purposes under the plans for the economic development of the CDA Territory, the WWC
<br /> Territory, and the Expansion Area as adopted herein; and
<br /> 1 WHEREAS, there was presented to this meeting of the Commission for its
<br /> consideration and approval, a copy of the Plan Amendment, which Plan Amendment is attached
<br /> hereto as Exhibit F; and
<br /> WHEREAS, with approval of the Plan Amendment, which provides for the
<br /> 1 inclusion of the CDA Territory, the WWC Territory, and the Expansion Area within the Original
<br /> Airport Area, the Commission will have opportunities to promote significant opportunities for
<br /> the gainful employment of the citizens of the City, attract major new business enterprises to the
<br /> ICity, retain or expand significant business enterprises existing in the boundaries of the City and
<br /> meet the other purposes of Section 2.5,41 and 43 of the Act and
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<br /> 1 WHEREAS, the public health and welfare will be benefited by the economic
<br /> development of the CDA Territory and the WWC Territory through their consolidation with the
<br /> 1 Airport Area under the provisions of the Act and by the economic development of the Expansion
<br /> Area through the addition of the Expansion Area to the Airport Area under the provisions of the
<br /> Act, and the Plan Amendment will be of public utility and benefit as measured by the attraction
<br /> or retention of permanent jobs, an increase in the property tax base and improved diversity of the
<br /> economic base; and
<br /> WHEREAS, Section 43 of the Act establishes that an economic development area
<br /> 3 may be an allocation area for the purposes of distribution and allocation of property taxes; and
<br /> WHEREAS, Section 39 of the Act has been enacted and amended to permit the
<br /> creation of allocation areas within an economic development area to provide for the allocation
<br /> and distribution, as provided in the Act, of the proceeds of taxes levied on property situated in an
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<br /> U5.54706909.04
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