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Section 4. The Commission has held a hearing open to the public and has <br />subsequently considered whether the Project will have an adverse effect on any similar facilities <br />already constructed and operating in or about the City and makes the following special findings of <br />fact based upon the evidence presented: <br />a. No member of the public or competitor has presented any <br />evidence of any kind establishing .that the Project would have any adverse <br />competitive effect in any respect. <br />b. In the absence of any evidence of any adverse competitive <br />effect, the benefits to the public clearly indicate that the Project should be supported <br />by the issuance of the City's Economic Development Revenue Bonds. <br />Section 5. The Report of the Commission relating to the financing of the Project and <br />the filing thereof is hereby approved and ratified, and the Findings of Fact Regarding the <br />Competitive Impact of the Project Regarding Southfield Village, Inc., attached hereto is hereby <br />approved. <br />Section 6. The Secretary of the Commission shall initial and then insert a copy ofthe <br />forms of Financing Documents approved by this Resolution in the Minute Book of this Commission. <br />Section 7. The filing by the Secretary of this Commission to the Clerk for <br />presentation to the Common Council of a copy of this Resolution and the other documents approved <br />by this Resolution and the form of Ordinance in their substantially final forms is hereby approved <br />and ratified. <br /> <br />-3- <br />ODMA\PCDOCS\SBDOCS 1\34495\1 <br />