99.060 Conditions of approval of plan by supervising agency

99.060 Conditions of approval of plan by supervising agency.

(1) A supervising agency may approve a development plan, but no certificate of

approval thereof shall be issued by it unless and until the planning commission shall

first have approved thereof and there has been filed with the supervising agency the

development plan, the certificate of approval by the planning commission and an

application for approval by the supervising agency, and unless and until the

supervising agency shall find:

(a) That the proposed method of financing the development is feasible and that it

is probable that the redevelopment corporation will be able to finance or

arrange to finance the development; and

(b) That the persons who it is proposed will be active in or associated with the

management of the redevelopment corporation during a period of at least one

(1) year from the date of the approval of the development plan have sufficient

ability and experience to cause the development to be undertaken,

consummated and managed in a satisfactory manner.

(2) Any such determination shall be conclusive evidence of the facts so determined

except upon proof of fraud or willful misfeasance. In considering whether or not a

certificate of approval of the development plan shall be issued, the supervising

agency shall consider only those elements of the development plan relevant to such

determination under paragraphs (a) and (b) of subsection (1) of this section. Upon

approval of a development plan by the supervising agency, it shall forthwith issue a

certificate of approval thereof.