2013-58 APPROVING THE SOUTHSIDE TAX INCREMENT REDEVELOPMENT PLAN

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T M Co .. and designs are finalized and experience is gained in implementing this Redev lopment Plan and m do not include financing costs. ro IY SECTION IX N IMPLEMENTATION STRATEGY M A. Introduction pThe development and follow through of a well-devised implementation strategy is a key element C in the success of the Redevelopment Plan. In order to maximize program efficiency and to take advantage of current developer interest in the Area, and with full consideration of available funds, a phased implementation strategy may be employed. A combination of private investments and public assistance is an essenti 1 element of the Redevelopment Plan. In order to achieve this end, the City may enter into agreements with private developers proposing that tax increment financing assistance may be provided, where deemed appropriate by the City, to facilitate private projects. Inasmuch as the principle means of financing this TIF program is tax increment revenues resulting from new private investment, the City of Decatur will not permit property tax abatement on those properties that are both within an Enterprise Zone (EZ) area and the Tax Increment Redevelopment Project Area. All development incentive provisions associated with an Enterprise Zone program other than property tax abatement (waiver of permit fees, sales tax abatement on building products,job tax credits, etc.) will be considered by the City. However, any areas in an Enterprise Zone boundary outside the Redevelopment Project Area are unaffected by the establishment of this Tax Increment Redevelopment Plan. B. Project Costs Costs that may be incurred by the City in implementing this Plan may include, without limitation, the following as permitted by the Act: 1. Costs of studies, surveys, development of plans and speci ications, wetland mitigation plans, implementation and administration of the redevelopment plan including but not limited to staff and professional service costs for architectural, engineering, legal, environmental, marketing, financial, panning or other services. 2. Property assembly costs, including but not limited to acquisition of land and other property, real or personal or interest therein, demolition of buildings, and the clearing and grading of land. 3. Costs of rehabilitation, reconstruction or repair or remodeling ol existing public or private buildings and fixtures. 4. Cost of construction of public works or improvements. 26