§ 45-33.2-4 - Adoption of project plan.
SECTION 45-33.2-4
§ 45-33.2-4 Adoption of project plan.– The legislative body of any city or town may adopt a project plan if a findingis made to the effect that:
(1) With respect to any portion of the project: (i) providingmunicipal or other public facilities or land therefor, under the definition of"project" under § 45-33.2-3(2)(i) or (ii); or (ii) constituting a projectunder § 45-33.2-3(2), that the facilities, programs and other assistanceare needed and that the financing of that portion of the project in accordancewith the plan is in the public interest; or
(2) With respect to any portion of the project providing landfor housing for persons or families of low income, that there is not within thecity or town an adequate supply of low rent housing for persons or families oflow income generally, or for veterans, or for persons who are elderly ordisabled, as the case may be, available for rents they can afford to pay, thatthe rents which those persons or families can afford to pay would not warrantprivate enterprise providing housing for them, and that the financing of thatportion of the project in accordance with the plan is in the public interest; or
(3) With respect to any portion of the project providingfinancing under § 45-33.2-5(13), but only to the extent not described insubdivision (1), that unemployment or the threat of unemployment exists in thecity or town or that security against future unemployment is required, that theproject is needed, that it will provide employment or security against loss ofemployment, including the approximate number of new jobs that should be createdor preserved, construction and nonconstruction, their approximate wage rates,what types of fringe benefits such as healthcare or retirement benefits therewill be, and the projected increase in personal income taxes to the state ofRhode Island, all having a reasonable relationship to the probable cost ofacquiring, establishing, improving, or rehabilitating the facilities in whichthe employment is to be provided or maintained, and that the financing of thatportion of the project in accordance with the plan is in the public interest; or
(4) With respect to any portion of the project providing landfor industrial or commercial development or revitalization, but only to theextent not described in subdivision (1):
(i) That the requirements of subdivision (3) are satisfied; or
(ii) That the requirements of subdivision (5) are satisfied;or
(5) With respect to any other portion of the project:
(i) That it is located in a "blighted and substandard area"as that term is defined in § 45-31-8(3), or that the project is needed toarrest blight or decay in the city or town and to prevent the area frombecoming a blighted and substandard area;
(ii) That the project area would not by private enterprisealone, and without either governmental subsidy or the exercise of governmentalpowers, be developed or revitalized in a manner so as to prevent, arrest, oralleviate the spread of blight or decay;
(iii) That the plan will afford maximum opportunity toprivately financed development or revitalization consistent with the soundneeds of the city or town as a whole;
(iv) That the financing of that portion of the project inaccordance with the plan is in the public interest; and
(v) Approximately how many new jobs, construction andnonconstruction, the plan will create, their approximate wage rates, whetherthe expected new jobs will provide fringe benefits such as healthcare andretirement benefits, and the projected impact of personal income taxes to thestate of Rhode Island.
(6) No project shall be undertaken pursuant to this chapteruntil a project plan has been adopted as provided in this section.
(7) A city or town may amend a project plan by submitting thefull project plan, as amended, to its legislative body, which must then make afinding with respect to the amended project plan which is identical to therequired finding for the original adoption of the project plan; provided, thatno amendment is violative of or inconsistent with any prior securityarrangement entered into pursuant to the original project plan.