2024-60 Ordinance Approving the Tax Increment Redevelopment Plan and Project for the Central TIF Redevelopment Project Area

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Central TIF Redevelopment Plan and Project Area Decatur, Illinois d. Improve housing stock by pursuing a variety of programs focusing on owner-oc- cupied housing rehabilitation,new housing developments,revolving loans for re- habilitation of rental homes,and demolition grants. e. Pursue demolition of vacant and abandoned buildings that are beyond repair and repurpose the land for new housing,greenspace,or business development. 2. Economic Development: a. Promote facade improvement grants. b. Utilize traditional pay-as-you-go TIF agreements for businesses both large and small. c. Create an assistance program with service providers and lenders to help busi- nesses build capacity. d. Connect businesses to the City's economic development and beautification pro- grams. 3. Transportation: a. Make needed improvements to public infrastructure, including repairing road- ways and sidewalks. b. Provide sidewalks and/or walking and biking paths along major roadways to im- prove pedestrian safety, promote walking and biking, and increase access to nearby amenities and businesses. c. Consider how residents of the TIF get around within the District,the City of De- catur,and the surrounding area,the modes of transportation most and least of- ten used,and the improvements that can be made to promote more public trans- portation and walkability/bikeability. d. Encourage public transit use by improving bus stop signage and adding covered waiting areas and benches at bus stops. Program to be Undertaken to Accomplish Objectives The City has determined that it is appropriate to create a program to provide financial incentives for private investment within the Area. It has been determined, through pri- vate and public project implementation experience,that tax increment financing consti- tutes one of the most effective means available for enabling development in the Area. Local taxing bodies are expected to benefit from the implementation of this Plan. The City will incorporate appropriate provisions within any redevelopment agreement en- tered into between the City and private parties ensuring redevelopment projects make progress towards achieving the objectives stated herein. Conformance with the Comprehensive Plan and Zoning Ordinance The General Land Use Plan conforms with the City's Zoning Ordinance and Zoning Map, as well as the 2009 Decatur/Macon County Comprehensive Plan.The General Land Use 20