2026-08 Ordinance Amending Ordinance No. 2006-100 Adopting Tax Increment Financing for the City of Decatur (Eastgate Commons Redevelopment Project Area)

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ECONOMIC & COMMUNITY DEVELOPMENT DEPARTMENT No. 2026-10 February 2, 2026 TO: Mayor Julie Moore Wolfe and City Council Members FROM: Melissa Hon, City Manager Lacie Elzy, Economic & Community Development Director Miranda Lambert,Asst. Director of Economic & Community Development SUBJECT: Ordinance Amending Ordinance No. 2006-100 Adopting Tax Increment Financing for the City of Decatur, IL (Eastgate Commons Redevelopment Project Area) RECOMMENDATION: Approve an ordinance amending the term date on Ordinance No. 2006-100 by deleting the reference to "December 31, 2040" and replacing it with "December 31, 2030". BACKGROUND: The City Council of the City of Decatur, Illinois, adopted Ordinance No. 2006-100 on November 6, 2006, approving the Eastgate Commons Redevelopment Project Area and adopting tax increment financing (TIF). A TIF district can remain in place for up to 23 years after its creation,which would make the correct ter date of the Eastgate Commons TIF District 2030,not 2040. BUDGET IMPACT: There will be no impact to the budget. PRIOR ACTION: Ordinance No. 2006-100 was adopted on November 6, 2006, and the Eastgate Commons TIF District has been active since that time. STAFF REFERENCE: Any additional questions may be forwarded to Lacie Elzy (lelzy@a,decaturil.gov) or Miranda Lambert(mlambert(a,decaturil.gov),