2013-37 APPROVING THE GRAND AVENUE TAX INCREMENT REDEVELOPMENT PLAN

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00 Summary of Findings Regarding Community Planning mThe lack of or inadequate community planning exists for all of the Area in the Area. The street configuration and access adjacent to the Area is wkward and presents difficult maneuvers for vehicles. A review of parcels in the proposed TIP district indicates that more than half do not meet minimum size requirements as M required by the City of Decatur's Land Development Code (Zoning st Ordinance). Many of the parcels are of an irregular shape and dif icult to access so from surrounding thoroughfares, including major highways. Most iof the pproperties were also developed prior to the most recent comprehensive plan— approved in 2009 —and do not take into consideration modern, up to-date planning principles which arc commonplace today. No detailed plaruling appears to have existed at the time of the development of the Area. 13. Environmental— Definition The question is whether the area has incurred Illinois Environn ental Protection Agency or United States hnvironmentat Protection Agency remediation costs for, or a study, conducted by an independent consultant recognized as iaving expertise in environmental remediation has determincd a need for, tZkzs clean-up of hazardous waste, hazardous substances, or underground storage t required by State or federal law, provided that the remediation costs cons itute a material impediment to the development or redevelopment of the redevelopment project area. Summary of Findings Regarding Environmental No studies have been found that address the environmental Gond tions within the Area 14. Declining Equalized Assessed Value—Definition If the total equalized assessed value of the proposed redevelop ent project area has declined for three of the last five calendar years for which information is available or is increasing at an annual rate that is less than the balance of the municipality for three of the last five calendar years for whick information is available or is increasing at an annual rate that is less than the Consumer Price Index for All Urban Consumers published by the United State Department of Labor or successor agency for three of the last five calendar years for which information is available, then this is considered as evidence of lack of development and maintenance in the Area. Summary of Findings Regarding Declining Equalized Assessed Value The Assessed Value for the Area has decreased over the last five years by 19.90% which included a one year decline of 9.89%. The growth of the balance of the Assessed Value for the City of Decatur, outside the Area over the same period was 5.84% or an average of 1.6% per year, (see Exhibit E (5Year Assessed Value Analysis and Comparison)). In four (4) out of the pat five (5) years from 2006 to 2011 the rate of growth of the Equalized Assessed Value of the area of the City outside the Area has exceeded the rate of increase �f the Equalized 19