2010-04 APPROVING THE TAX INCREMENT PINES SHOPPING CENTER REDEVELOPMENT PLAN

Home Browse Search

Illinois - S.S. by Msry A. Eaton, Recorder Book: 4048 Page: 873 1 /r�90086 Receipt ": 29233 Recording Fee: 13L.00 P" Recorded: 5 Authorized By: 1'791040 a Recorded: 2/22/2010 10:41:31 AM ORDINANCE NO. 2010-04 AN ORDINANCE OF THE CITY OF DECATUR, ILLINOIS APPROVING THE TAX INCREMENT PINES SHOPPING CENTER REDEVELOPMENT PLAN WHEREAS, the City of Decatur, Illinois (the "City") is a municipal corporation established pursuant to the Municipal Code of the State of Illinois and has jurisdiction over matters pertaining to its government and affairs; WHEREAS, the City desires to implement tax increment financing pursuant to the "Tax Increment Allocation Redevelopment Act", 65 ILCS 5/11-74.4-1 el. seg. (the "Act") by adopting the proposed Redevelopment Plan known as the Pines Shopping Center TIF Tax Increment Redevelopment Plan and Project (the "Redevelopment Plan") for the Pines Shopping Center Redevelopment Project Area (the "Area")described in Section One(a) of this ordinance; WHEREAS, pursuant to Section 11.74.4-5 of the Act, the City Council caused a public hearing to be held relative to the Redevelopment Plan and Redevelopment Project and a designation of a Redevelopment Project Area on February I, 2010, in the City Council's meeting room at City Hall, I Gary K. Anderson Plaza in Decatur, Illinois; WHEREAS, due notice in respect to such hearing was given pursuant to Sections I I- 74.4-5 and 6 of the Act. WHEREAS, the Redevelopment Plan set forth the factors contributing blight and conservation in the proposed redevelopment area, and the City Council has reviewed the information concerning blight and conservation presented at the public hearing and has reviewed other studies and is generally informed of the conditions of blight and conservation in the proposed Redevelopment Project Area; WHEREAS, the City Council has reviewed the conditions pertaining to lack of private investment in the proposed Redevelopment Project Area to determine whether private development would take place in the proposed Redevelopment Project Area as a whole without the adoption of the proposed Redevelopment Plan; WHEREAS, the City Council has reviewed the conditions pertaining to real property in the proposed Redevelopment Project Area to determine whether contiguous parcels of real property and improvements thereon in the proposed Redevelopment Project Area would be substantially benefited by the proposed redevelopment project improvements;and Co., Illinois - S.S. by Mary A. Eaton, Recorder This ordinance is being re—recorded Book: 4051 Page: 531 Receipt ": 29596 Recording Fee: 159.00 to add plan. Price is minus $30.00 pages Recorded: 59 Authorized By: charged on 2-22-10. ate Recorded: 3/9/2010 8:43:55 AM