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 project necessarily incurred or to be incurred within a taxing district in furtherance of the objectives of the redevelopment plan and project. 8. Relocation costs to the extent that a municipality determines that relocation costs shall be paid or is required to make payment of relocation costs by federal or State law or in order to satisfy subparagraph(7) of subsection(n); 9. Payment in lieu of taxes [see Sec. 11-74.4-3 (m) of the Act]; 10. Costs of job training,retraining,advanced vocational education or career education, including but not limited to courses in occupational,semi-technical or technical fields leading directly to employment, incurred by one or more taxing districts, provided that such costs (i) are related to the establishment and maintenance of additional job training, ad- vanced vocational education or career education programs for persons employed or to be employed by employers located in a redevelopment project area;and (ii)when incurred by a taxing district or taxing districts other than the municipality, are set forth in a written agreement by or among the municipality and the taxing district or taxing districts, which agreement describes the program to be under- taken, including but not limited to the number of employees to be trained, a de- scription of the training and services to be provided,the number and type of po- sitions available or to be available, itemized costs of the program and sources of funds to pay for the same, and the term of the agreement. Such costs include, specifically,the payment by community college districts of costs pursuant to Sec- tions 3-37, 3-38, 3-40 and 3-40.1 of the Public Community College Act and by school districts of costs pursuant to Sections 10-22.20a and 10-23.3a of The School Code; 11.Interest cost incurred by a redeveloper related to the construction,renovation or re- habilitation of a redevelopment project provided that: (i) such costs are to be paid directly from the special tax allocation fund established pursuant to this Act; (ii) such payments in any one year may not exceed 30%of the annual interest costs incurred by the redeveloper with regard to the redevelopment project during that year; (iii) if there are not sufficient funds available in the special tax allocation fund to make the payment pursuant to this paragraph (11) then the amounts so due shall accrue and be payable when sufficient funds are available in the special tax allocation fund; 25