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Fourth Amendment to Decatur Southeast Pla.Za TIF District Redevelopment Plan&Projects <br /> I <br /> 750'Residential&IPR Mailings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . l . . May 16,2014 <br /> First Publication of Public Hearing Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E . . May 28,2014 <br /> Second Publication of Public Hearing Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . June 4,2014 <br /> Public Hearing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . June 16,2014 <br /> Adopt Final Ordinance to Approve Fourth Amendment . . . . . . . . . . . . . . . . . . . . . July 7,2014 <br /> REDEVELOPMENT PROJECT AREA <br /> Pursuant to the Tax Increment Allocation Redevelopment Act(the"Act"),the Rede elopment Project <br /> Area (the "Area") includes only those contiguous parcels of real property and impr vements thereon <br /> which would be substantially benefitted by a redevelopment project as previously designated as the <br /> Decatur Southeast Plaza TIF District Redevelopment Area as Amended. The Are remains larger in <br /> the aggregate than 11/2 acres and will not be changed by the proposed Fourth Ame dment. <br /> AMENDED REDEVELOPMENT PROJECTS <br /> The conditions which have qualified the Amended Redevelopment Project Area as a ghted Area must <br /> continue to be addressed. The Redevelopment Project Area will require improveme is throughout the <br /> remaining life of the TIF District.The implementation of the public and private pr jects provided in <br /> the Redevelopment Plan and the financing thereof will help address current needs a d encourage new <br /> private investment within the Redevelopment Project Area.The adjustment in eligibl project costs will <br /> permit the Developer to keep up with the rate of inflation over the remaining years o the TIF District. <br /> The Developer will continue to construct at its own expense public streets,intersection signalization, <br /> sewer lines,water lines,bridges and such other public infrastructure as required to dev'lop the amended <br /> Area as a whole. <br /> The Designated and Anticipated Redevelopment Project Costs to be adde to the Decatur <br /> Southeast Plaza TIF District Redevelol2ment Plan & Projects by the Fourthkmendment are <br /> as follows: <br /> 1. Signalization of IL Rt. 121 &Fitzgerald Road Intersection . . . . . . . . . . . . . . . . . . $181,500 <br /> 2. Site Preparation,Entrance,Streets,Demolition . . . . . . . . . . . . . . . . . . . . . . $749,100 <br /> 3. Sanitary Sewer&Storm Sewer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1�1 . . . . $905,300 <br /> 4. Watermain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . $194,700 <br /> 5. Annex/Engineering/Professional/Design/Studies . . . . . . . . . . . . . . . . . . . j . . . . . $565,400 <br /> 6. Interest,Marketing,Legal, Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . $1,307,000 <br /> 7. Taxing District Capital Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S272,000 <br /> TOTAL DESIGNATED &ANTICIPATED ELIGIBLE PROJECT COSTS <br /> TO BE ADDED BY FOURTH AMENDMENT . . . . . . . . . . . . . . . . . . . . . . . $4,175,000 <br /> Decatur Southeast Plaza TIF District/Fourth Amendment Page 3 of 9 <br />