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tQ <br /> di Assessed Value of the Area. In addition, in four (4) out of five (5) years from <br /> 0 2006 to 2011, the rate of growth of the Consumer Price Indexas exceeded the <br /> CL rate of increase of the Equalized Assessed Value of the Area Therefore. the <br /> statutory criteria have been met. <br /> M <br /> D. Analysis of Conditions in the Area— Vacant Parcels <br /> .�c 1. Deterioration of Structures or Site Improvements in Neighporing Areas - <br /> G <br /> 0 Definition <br /> If the vacant parcels are adjacent to neighboring areas that cont in deteriorating <br /> ri <br /> stctures or site improvements then this is considered a blighting factor with <br /> regard to vacant land. <br /> Summary of Findings Regarding Deteriorating Structures �n Neighboring <br /> Areas <br /> There were 3 vacant parcels at the time of the physical inspection of the area that <br /> are located within the proposed redevelopment Project Area Based on the <br /> analysis of the improved area in C. above, these vacant parcels are located <br /> adjacent to neighboring areas that contain deteriorating strIuctures or site <br /> improvements. <br /> 2. Declining Equalized Assessed Value—Definition <br /> If the total equalized assessed value of the proposed redevelopment project area <br /> has declined for three of the last five calendar years for whic information is <br /> available or is increasing at an annual rate that is less than th balance of the <br /> municipality for three of the last five calendar years for whic information is <br /> available or is increasing at an annual rate that is less than the onsumer Price <br /> Index for All Urban Consumers published by the United State Department of <br /> Labor or successor agency for three of the last five calendar years for which <br /> information is available, then this is considered as evider ce of lack of <br /> development and maintenance in the Area. <br /> Sumtna►y of Findings Regarding Declining Equalized Assessed IValnne <br /> The Assessed Value for the Area has decreased over the last five Years by 19.90% <br /> which included a one year decline of 9.89%. The growth of # balance of the <br /> Assessed Value for the City of Decatur. outside the Area over lie same period <br /> was 5.84% or an average of 1.6% per year, (see Exhibit E (5 Year Assessed <br /> Value Analysis and Comparison)). In four (4) out of the pat five (5) years <br /> from 2006 to 2011 the rate of growth of the Equalized Assessed Value of the area <br /> of the City outside the Area has exceeded the rate of increase Of the Equalized <br /> Assessed Value of the Area. In addition, in four (4) out of five (5) years from <br /> 2006 to 2011, the rate of growth of the Consumer Price Index has exceeded the <br /> rate of increase of the Equalized Assessed Value of the Area., Therefore, the <br /> statutory criteria have been met. <br /> 20 <br />