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ECONOMIC & COMMUNITY DEVELOPMENT DEPARTMENT <br /> MEMORANDUM <br /> Memo No. 24-02 <br /> DATE: February 5, 2024 <br /> TO: Honorable Mayor Julie Moore Wolfe and City Council <br /> FROM: Scot Wrighton, City Manager <br /> Cordaryl Patrick, Director, Economic & Community Development Department <br /> Richelle L. Dunbar, Assistant Director <br /> SUBJECT: Resolution to consider the voluntary dissolution of DCDF, Inc. and to approve a plan <br /> of asset distribution <br /> SUMMARY RECOMMENDATION: Council is asked to pass the proposed Resolution to <br /> voluntarily dissolve DCDF, Inc. <br /> DCDF was incorporated in 1976 for the purposes of promoting the general health, safety,welfare and <br /> common good of the people of the City of Decatur. Past projects include: The Reserve on <br /> Lakeshore, C. Ezra West Townhouses, Sheridan Circle, Roof replacement program, and small <br /> business loans to local nonprofits. <br /> With the partnership of the Central Illinois Landbank Authority, DCDF no longer is utilized to <br /> acquire, hold, develop, and dispose of land. One of the challenges of DCDF was the lack of staff <br /> support to conduct administrative duties. <br /> A meeting of the Board of Directors was held on December 14, 2023, and January 22, 2024, to <br /> recommend voluntary dissolution, along with distribution of assets. <br /> STAFF REFERENCE: Additional questions can be forwarded to Richelle L. Dunbar at (217) 424- <br /> 2864 or e-mail: rdunbar(a�decaturil.gov. <br /> BUDGET & TIME IMPLICATIONS: None <br /> ATTACHMENTS: <br /> Agenda for Special Meeting <br /> Signed resolution from Board of Directors <br /> Resolution to dissolve (members) <br /> Plan of asset Distribution <br /> Agenda from Board of Directors meeting <br /> Minutes from Directors meeting <br /> December financial statement <br /> Minutes from last DCDF member meeting <br />