R2024-03 Resolution Authorizing a TIF Redvelopment Agreement between the City of Decatur and County Line Plaza, LLC

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"Exterior Fagade" means the architectural character, general composition and general arrangements of the exterior of the Project,and the adjacent plazas and pedestrian areas,including the kind,color and texture of the building material and the type and character of all windows,doors, light fixtures,signs and appurtenant elements,visible from public streets and thoroughfares. "Final Site Plan" means the final plan for the Project or any phase thereof which sets forth the limits of the work to be done,the building locations,ingress and egress, loading areas,parking, if any, landscaping, signage and adjoining streets including one or more elevations or sketches showing the exterior features and designs of all the buildings or structures. "Home Rule Food and Beverage Tax Increment" means for a calendar year an amount equal to the Municipal and Home Rule Food and Beverage Tax received by the City from the businesses located in that phase of the Project less the average annual Home Rule Food and Beverage Tax received by the City from the businesses located in that phase of the Project Area for the five-year period prior to October 1,2022. "Preliminary Plans" means plans and drawings,including a Preliminary Site Plan for each phase of the Project(Phase I and Phase II have previously been approved)which are preliminary to the Construction Plans,which plans and drawings include but are not limited to the limits of the work to be done,the location of buildings and all auxiliary structures,ingress and egress,loading areas, parking, if any, proposed signage, landscaping and one or more elevations showing the Exterior Architectural Appearance of the Project or any phase thereof. "Preliminary Site Plan" means the site layout for the Project or any phase thereof including parking,if any,buildings,ingress and egress,pedestrian and vehicular circulation,utilities,grading, storm water detention,landscaping and service areas,and all proposed dedications and easements. "Project" means the County Line Plaza Shopping Center, outlots and related facilities to be developed and constructed including property acquisition and reconfiguration costs by the Redeveloper as more fully on described on Exhibits 1 and 2 (including sub parts A-C) attached hereto and made a part hereof. "Project Costs" means substantiated eligible redevelopment project costs as defined in Tax Increment Allocation Redevelopment Act(65 ILCS 5/11-74.4-1 et seq.),other than land acquisition costs within the footprint of the existing shopping center. "Public Investment" means the rebate of Sales Tax Increment and Real Estate Tax Increment actually received by the City in the manner provided in Article IV of this Agreement. "Real Estate Tax Increment" means the ad valorem real property taxes levied and received by the City on the Equalized Assessed Value of the Project,the Project Site and any other structures or buildings on the Project Site with respect to each tax identification number within the Project, less the tax received on the 2021 Equalized Assessed Value of each respective tax identification number or part thereof within the Redevelopment Area. For avoidance of doubt, if the area of the present tax identification number was part of a larger 2021 parcel, only the assessed value of the land or improvements located in the area of the new parcel will be considered. If that part of the 2021 tax parcel was vacant,then the land value only will be considered based on the acreage of the new parcel. City of Decatur/County Line Plaza Redevelopment Agreement 2