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I.egal Department <br /> DATE: 10/3/2019 <br /> MEMO: <br /> TO: Mayor Julie Moore Wolfe&the Decatur City Council <br /> FROM: Scot Wrighton,City Manager <br /> Wendy Morthland,Corporation Counsel <br /> SUBJECT: Amendment of TIF Redevelopment Agreement <br /> BACKGROUND: The proposed agreement settles a disagreement between the developer and the city concerning the <br /> appropriate and intended uses of TIF proceeds. What began as a commercial TIF has evolved to include residential <br /> development. So the city has placed additional restrictions on the use of TIF proceeds(carmot be used to pay real estate <br /> commissions,landscape maintenance,model home fees,etc.)all in accordance with the recommendations of the city's TIF <br /> counsel. The net impact of this amendment will be to increase the amount of proceeds remaining in the TIF fund. <br /> PRIOR COUNCIL ACTION: This TIF district is more than 22 years old and has been amended 4 times in the past. Tlus <br /> will be the fifth and last amendment. <br /> ATTACHMENTS: <br /> Description Type . <br /> Resolution Authorizing Agreement Between the City of <br /> Decatur and Airport Plaza Joint Venture,LLC-Payment Resolution Letter <br /> of Tax Increment Financing Eligible Costs <br />