AN ORDINANCE CREATING THE EAST MAIN STREET, COURT STREET, WEST MAIN STREET, AND FRANKLIN STREET DOWNTOWN REDEVELOPMENT DISTRICTS; DECLARING THE IMPROVEMENTS TO CERTAIN PARCELS OF REAL PROPERTY TO BE A PUBLIC PURPOSE AND EXEMPT FROM TAXATION; REQUIRING THE OWNER OF THE PARCELS TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES; SPECIFYING THE PLAN FOR USING SERVICE PAYMENTS TO PROMOTE ECONOMIC DEVELOPMENT AND JOB CREATION; AUTHORIZING THE EXECUTION OF ECONOMIC DEVELOPMENT PLANS; ESTABLISHING THE EAST MAIN STREET, COURT STREET, WEST MAIN STREET AND FRANKLIN STREET DOWNTOWN REDEVELOPMENT DISTRICT FUNDS FOR THE DEPOSIT OF SUCH SERVICE PAYMENTS; APPROVING RELATED MATTERS; AND DECLARING AN EMERGENCY.
