2013-37 APPROVING THE GRAND AVENUE TAX INCREMENT REDEVELOPMENT PLAN

Home Browse Search

NOW, THEREFORE, IT IS HEREBY ORDAINED BY THE MA�OR AND CITY foCOUNCIL OF THE CITY OF DECATUR,ILLINOIS THAT: SECTION ONE: The City Council of the City of Decatur hereby males the following findings: ., a. The area constituting the proposed Grand Avenue Redevelopment P}oject Area in the s City of Decatur, Illinois, is described in EXHIBIT A, which is att�ched hereto and o o incorporated herein. b. There exist conditions which cause the area proposed to be designated as a Redevelopment Project Area to be classified as a 'Blighted Area" or a "Conservation Area" as defined in Section 11-74.4-3(a)and (b) of the Act. c. The proposed Redevelopment Project Area on the whole has not been subject to growth and development through investment by private enterprise nd would not be reasonably anticipated to be developed without the adoption of th Redevelopment Plan. d. The Redevelopment Plan conforms to the Comprehensive Plan for the development of the municipality as whole. e. The parcels of real property in the proposed City of Decatur Grand Avenue Redevelopment Project Area are contiguous and only those contiguotnefited parcels of real property and improvements thereon which will be substantially by the proposed redevelopment project improvement are included itp the proposed Redevelopment Project Area. f. The estimated time for final completion of the Redevelopment Pla� is twenty-three (23) years or December 31, 2036. g. The estimated time for retirement of obligations incurred to financ� Redevelopment Project costs is not later than twenty(20)years or December 31, 203 . SECTION TWO: The Redevelopment Plan, which was the subject ma r of the hearing held on April 16, 2013, is hereby adopted and approved. A copy of the Redevelopment Plan marked Exhibit "B" is attached to and made a part of this Ordinance. SECTION THREE: From and after the effective date of this Ordi4nce, thero er P P officers, agents and employees of the City are hereby authorized, empowered a�d directed to do all such acts, including the sending of appropriate notices as required by the Ac , and to execute all such documents as may be necessary to carry out the intent and accomplish the purposes of this Ordinance.