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of
<br /> the, proposed thi base and population;.and (6)
<br /> Amendment to.`the Decatur To pprotect lands suitable for
<br /> Southeast Plaza.,TIB:District residential and commercial
<br /> Redevelopment:-;Plan;,„and Cusp for possible future devel-
<br /> Prolects is available at"the opment through the•use of
<br /> City Clerk's Office, #1 Gary 0iung.and other delegated
<br /> K. Ander,son Plaza Decatur, powers: -
<br /> Illinois for exarmnation'dur-
<br /> ing regular office bours, `DeSCIIDHon of Tax
<br /> Monday througgh�� Frida�yy:from Increment Financing A TIF
<br /> 8:00 a.m.to 5%_p m.'For fur= District 'establishes a. geo- E� ,
<br /> then information',pl :feeaphic
<br /> I gr " boun
<br /> ease d
<br /> ary;(a redevel-
<br /> free to contact Mr:Billy Tyus, „opment protect area)in which
<br /> Assistant City Manager, at dew prtyate investment. is a
<br /> (217),424-272 7 encouraged ?A municipality
<br /> a Ymay also issue obligations to Bl!
<br /> SUM1yIARY OF i": fin`,ance,.specific public sector
<br /> P$OPOS D.4TH >m rgypmfnts.that will enable
<br /> 1115 11,14 v 411
<br /> „,.e,r eve opment o, -eterio r.3
<br /> DECATUR SOUTHEAST, ;rated'„blighted,.or other,key 06
<br /> J
<br /> �'I:AZA;TIF DISTRICT cpnseryation areas;within its
<br /> REDEVELOPMENT', corporate lumts By making
<br /> PAI &PROJECTS;
<br /> pUlicq iiiiprovements,.., the PLUG
<br /> , gampipaltty may invite-anew
<br /> The,pity"of Decatur, Macon VIivate uivestment.so that the
<br /> County„Ilhiiois (the City") expected increase in property
<br /> an Minoi`s',Home;Rule munic, revenues can be capture ,
<br /> _,a
<br /> i�ppahty,proposes to;amend the tempprarily 40-amortize. the
<br /> Decatur Southeast,.Plaza Tax public Jnioroyements'. i; , A
<br /> Increment.`Financing (TIF) municipality may also choose
<br /> District Redovelopment Alan xp,�us'TIF funds;on a pay'-as
<br /> and ;'Projects :: (the; ;,"4th yougo oasis whereliy;revenue
<br /> Amendment'): The Southeast iispent:as it.is collected: In
<br /> Plaza.TIF District was estab- either,case,it is-expected. that
<br /> fished nn 1�, y 5,.1997, Pur ne�uv nyestinent in a designat-
<br /> suant to`.the Tax;,_I Cement ed.�redeyelopment,:azea_vgill
<br /> Allocation. Redeyelo inept stimi}late a.resurgence of pop-
<br /> Act (65 :I)rCS 5/,11 7 4,,et. ufation„,empIoyment;, and
<br /> seq,)y,('the'',"Acer);;,,and .was asst ssed valuation throughout
<br /> amended ,b thej City,g.on tlieritire,,community It
<br /> Au ust 21,2006,May 7 2007 should he noted, that TIF
<br /> and December..,l ;2013 to add DOES NOT raise property
<br /> pprotJect " .costs to< as4the tai es and if NOT a new tax
<br /> RedevelopmentPlan and. to �ora�ne taxing district Only
<br /> add property to the an" leased assessment or an
<br /> Redevelopment Protect Area o5e� increase m tax•rates
<br /> ("`Area ) Pursuant;to xhe Act, raisetaxes.,J F is merely
<br /> the.Area as. ended i'n`cludes uuse to;re'allocate- increased
<br /> onam
<br /> ly those"contiguous parcels, RRr tai ated
<br /> of real roperty and unrevenues cre
<br /> proye- ti' creased assessed y,3tpd
<br /> ments: eieoniytgch;wquldbe atis.realized after a T]F
<br /> sulistanhally' benefitted by; a Dpi' cf is established A 4V
<br /> redeyelppment project„ Also Drs ct;ma last for up to,23
<br /> pursuant to the Act,the over yye , or 35 years if extended
<br /> d
<br /> all Area s not less m the b e Illinois ,Legislature.
<br /> aggregate than 1'6 acrest, Tax , Increment
<br /> f ,s u ;:;: Fuiancing;a property tax base
<br /> Purpose E for Amen•t*nPnt is;,preserved during the life-of .
<br /> The overall pprpose"'of"tfie.4th the _District that will con-
<br /> Amendment i§to increase.the died fo pay for the basic pub-
<br /> totat estimated;edeyelopment tic sernces the proposed rede-
<br />
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