HomeMy WebLinkAboutResolutions - 1986.10.09 - 10912
MISCELLANEOUS RESOLUTION NO. 86293
RE: ECONOMIC DEVELOPMENT GROUP
RESOLUTION APPROVING PROJECT PLAN
(VINI PROPERTY TRUST RETAIL PROJECT) - ORION TOWNSHIP
BY: PUBLIC SERVICES COMMITTEE, JAMES EDWARD LANNI, CHAIRMAN
TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS, The Economic Development Corporation of the
County of Oakland (the "EDC") has recommended that this Board
of Commissioners approve the Project Plan required by the
Economic Development Corporations Act, Act No. 338 of the
Michigan Public Acts of 1974, as amended (the "Act") for the
Vini Property Trust Retail Project, a copy of which Project
Plan is attached hereto as Exhibit A (the "Project Plan"); and
WHEREAS, the EDC's recommendation to this Board of
Commissioners was based upon its determinations that the
Project is reasonable and necessary to effectuate the purposes
of the Act, that the Project Plan prepared in connection with
the Project satisfies all of the requirements of Section 8 of
the Act regarding project plans, that the persons who will be
active in the management of the project for at least one (1)
year after the projected date of the County Board of
Commissioner's approval of the Project Plan will have
sufficient ability and experience to manage the Plan properly,
and that the proposed method of financing the Project is
feasible and a bond purchaser's commitment has been obtained;
and
WHEREAS, on October 6 , 1986, the governing body of Orion
Township, Oakland County, Michigan, also approved the Project
Plan; and
(0654w)
WHEREAS on October 9, , 1986, this Board of
Commissioners held a public hearing to consider whether the Project Plan
constitutes a public purpose as contemplated by the Act; and
WHEREAS, this Board of Commissioners, following such public
hearing and its review of the Project Plan, concurs in the determinations of
the EDC with respect thereto;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE COUNTY
OF OAKLAND, as follows:
1. The Project Plan, in the form attached hereto as Exhibit A, be and is
hereby determined to constitute a public purpose as contemplated by the Act.
2. The Project Plan be and is hereby approved.
3. The EDC be and is hereby authorized to take such steps as are necessary
to implement the Project and the financing thereof by the issuance of
revenue bonds or notes.
4. The County Clerk be and is hereby directed to provide four certified
copies of this resolution to the Assistant Secretary of the Board of the
EDC.
The Public Services Committee, by James Edward Lanni, Chairman, moves for
adoption of the foregoing resolution.
RESOLUTION DECLARED ADOPTED:
