R2024-43 Resolution Scheduling Public Hearing to Consider the Redevelopment Plan and Project for the Central TIF Redevelopment Project Area

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Central TIF Redevelopment Plan and Project Area Decatur, Illinois E. The area has incurred Illinois Environmental Protection Agency or United States Environmental Protection Agency remediation costs for, or a study conducted by an independent consultant recognized as having expertise in en- vironmental remediation has determined a need for, the clean-up of hazard- ous waste, hazardous substances, or underground storage tanks required by State or federal law,provided that the remediation costs constitute a material impediment to the development or redevelopment of the Redevelopment Pro- ject Area. F. The total equalized assessed value of the proposed Redevelopment Project Area has declined for three (3) of the last five (5) calendar years prior to the year in which the Redevelopment Project Area is designated, or is increasing at an annual rate that is less than the balance of the municipality for three(3) of the last five (5) calendar years for which information is available, or is in- creasing at an annual rate that is less than the Consumer Price Index for All Urban Consumers published by the United States Department of Labor or suc- cessor agency for three (3) of the last five (5) calendar years prior to the year in which the Redevelopment Project Area is designated. 2. If vacant,the sound growth of the redevelopment project area is impaired by one of the following factors that: (i) is present, with that presence documented,to a mean- ingful extent so that a municipality may reasonably find that the factor is clearly pre- sent within the intent of the Act; and, (ii) is reasonably distributed throughout the vacant part of the redevelopment project area to which it pertains: A. The area consists of one or more unused quarries,mines,or strip mine ponds. B. The area consists of unused rail yards,rail tracks,or railroad rights-of-way. C. The area,prior to its designation,is subject to a. chronic flooding that adversely impacts on real property in the area as cer- tified by a registered professional engineer or appropriate regulatory agency; or b. surface water that discharges from all or a part of the area and contributes to flooding within the same watershed,but only if the redevelopment pro- ject provides for facilities or improvements to contribute to the alleviation of all or part of the flooding. D. The area consists of an unused or illegal disposal site containing earth, stone, building debris, or similar materials that were removed from construction, demolition,excavation,or dredge sites. E. Prior to November 1, 1999, the area is not less than 50 nor more than 100 acres and 75%of which is vacant(notwithstanding that the area has been used for commercial agricultural purposes within 5 years prior to the designation of the redevelopment project area),and the area meets at least one of the fac- tors itemized in paragraph(1)of this subsection,the area has been designated 7