2014-29 APPROVING THE 4TH AMENDMENT TO THE REDEVELOPMENT PLAN AND PROJECTS

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f ORDINANCE NO.2014-29 CITY OF DECATUR, ILLINOIS APPROVING THE FOURTH AMENDMENT TO THE REDEVELOPMENT PLAN AND PROJECTS FOR THEI DECATUR SOUTHEAST PLAZA TAX INCREMENT FINANCING DISTRICT WHEREAS, the statutes of the State of Illinois by the "Tax Incr ment Allocation Redevelopment Act", 65 ILCS 5/11-74.4-1 et seq., as amended, hereinafter referre to as the "Act", provide for municipalities to create within their corporate boundaries tax inc ement financing redevelopment project areas and to amend such areas; and WHEREAS, on May 5, 1997, the City of Decatur, Macon County, Illinoi� (the "City"), an Illinois Home-Rule municipality, by its duly elected Mayor and City Council her tofore adopted a Redevelopment Plan and Projects;designated a Redevelopment Project Area("Area")-and adopted Tax Increment Financing pursuant to the TIF Act for the Decatur Southeast Plaza Tax Inc ement Financing (TIF) District;and WHEREAS, on August 21,2006,the City approved a First Amendment th Redevelopment Plan and Projects;and WHEREAS,on May 7,2007,the City approved the Second Amendment to th Redevelopment Plan and Project Area; and WHEREAS, on December 16, 2013, the City approved a Third Arr�endment to the Redevelopment Plan and Projects;and WHEREAS,pursuant to the Act and the City's Home-Rule authority,the City desires to further amend the Redevelopment Plan and Projects for the Decatur Southeast Plaza TIF istrict ("Fourth Amendment") and ratify prior Amendments;and WHEREAS, pursuant to Section 11-74.4-4.2 of the Act, the City approve Ordinance No. 2000-40 on May 15, 2000, authorizing the establishment of a Tax Increment Fina cing "Interested Parties Registry"and adopted Registration Rules with regard to such Registry for the IF District;and WHEREAS,pursuant to Section 11-74.4-5 of the Act,on May 14,2014,the,City convened a Joint Review Board to consider the proposal and the Joint Review Board met on said date and recommended that the City Council approve the proposed Fourth Amendment to the Decatur Southeast Plaza TIF District Redevelopment Plan and Projects;and WHEREAS, pursuant to Section 11-74.4-5 of the Act, on June 16, 2014, he City Council caused a Public Hearing to be held relative to the proposed Fourth Amendment to the Redevelopment Plan and Projects at the Decatur City Hall, #1 Gary K.Anderson Plaza,Decatur,111i ois;and WHEREAS, due notice in respect to such Public Hearing was given pursua t to Section 11- 74.4-5 and 6 of the Act,with notice being given by certified mail on April 24,2014 to axing Districts Page-1-