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Fourth Amendment to Decatur Southeast Plaza 77F District Redevelopment Plan &P+ects <br /> Joint Review Board Meeting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . May 14,2014 <br /> First Publication of Public Hearing Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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 . . . . . . . . . . . . . . . . . . June 30,2014 <br /> REDEVELOPMENT PROJECT AREA <br /> Pursuant to the Tax Increment Allocation Redevelopment Act(the"Act"),the Redevelopment 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 esignated as the <br /> Decatur Southeast Plaza TIF District Redevelopment Area as Amended. The Area remains larger in <br /> the aggregate than 1'/2 acres and will not be changed by the proposed Fourth Ame ment. <br /> AMENDED REDEVELOPMENT PROJECTS <br /> The conditions which have qualified the Amended Redevelopment Project Area as a Bighted Area must <br /> continue to be addressed. The Redevelopment Project Area will require improvements throughout the <br /> remaining life of the TIF District.The implementation of the public and private prjects 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,intersec on signalization, <br /> sewer lines,water lines,bridges and such other public infrastructure as required to devielop the amended <br /> Area as a whole. <br /> The Designated and Anticipated Redevelopment Project Costs to be added to the Decatur <br /> Southeast Plaza TIF District Redevelopment Plan & Projects by the Fourth I Amendment 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $905,300 <br /> 4. Watermain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $194,700 <br /> 5. Annex/Engineering/Professional/Design/Studies . . . . . . . . . . . . . . . . . . . . . . . . $565,400 <br /> 6. Interest, Marketing,Legal, Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,307,000 <br /> 7. Taxing District Capital Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $272,000 <br /> 1 <br /> TOTAL DESIGNATED &ANTICIPATED ELIGIBLE PROJECT COST <br /> TO BE ADDED BY FOURTH AMENDMENT . . . . . . . . . . . . . . . . . . . . . . . . $4,175,000 <br /> Decatur Southeast Plaza TIF District/ Fourth Amendment Page 3 of 9 <br /> I <br />