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

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and the State of Illinois Department of Commerce and Economic Opportunity; o� May 2, 2014 by certified mail to Taxpayers in the Area;by regular U.S. mail on May 16,2014 to residences within 750 feet of the Redevelopment Project Area and registrants on the Interested Partie Registry; and by publication in the Decatur Tribune on May 28,2014 and June 4,2014; and WHEREAS, the Redevelopment Plan and Projects, as amended, set forth the factors constituting the need for the redevelopment of blighted and conservation areas in the Redevelopment Project Area and the City Council has reviewed testimony concerning such needs and has reviewed other studies and is generally informed of the conditions in the Redevelopment PrDject Area as said terms "Blighted Area, Conservation Area and Combination of Blighted and Conset vation Areas"are used in the Act;and WHEREAS,pursuant to the"Expenses for Economic Development Act",65 ILCS 5/8-1-2.5, the City has the authority to appropriate and expend funds for economic development purposes, including, without limitation, the making of grants to any commercial enterpris that is deemed necessary or desirable for the promotion of economic development within the mu cipality;and WHEREAS, the City Council has further determined that the implementa on of the Fourth Amendment to the Redevelopment Plan will increase the overall value and qualtiity of life of the community for its residents by completing the Redevelopment Projects;and WHEREAS, the City Council has reviewed the proposed Fourth Arr.endment to the Redevelopment Plan and Projects, Comprehensive Plan,Land Use and Zoning Map and Ordinances for the development of the municipality as a whole to determine whether the proposed Fourth Amendment to the Redevelopment Plan and Projects conform to the Ordinances of the municipality. NOW,THEREFORE,BE IT ORDAINED BYTHE MAYORAND CJTY COUNCIL OF THE CITY OF DECATUR,MACON COUNTY, ILLINOIS,THAT: 1. The City Council of the City of Decatur hereby makes the following findings pursuant to its Home-Rule authority: a. The area constituting the Redevelopment Project Area in the City of ecatur, Illinois, described in Exhibit A (Legal Description) and Exhibit B (Bounda Map) of this Ordinance,is not changed by the Fourth Amendment. b. The Redevelopment Project Area on the whole has not been subjec to growth and development through investment by private enterprise and would n t be reasonably anticipated to be developed without the adoption of the Fourth A endment to the Redevelopment Plan. c. The Fourth Amendment to the Redevelopment Plan and Projec$s conforms to Comprehensive Plan and the Land Use and Zoning and Ordinances for Oe development of the municipality as a whole. d. The estimated date for final completion of the Redevelopment Projects �s December 31, 2021,as provided by Section 74.4-3(n)Q)(3) of the Act. e. The estimated date for retirement of obligations, if any, incurred to finance the Page-2-