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

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0 U1 11 mSummary of Findings Regarding Community Planning (V The lack of or inadequate community planning exists for all of the Area in the Area. The CL street configuration and access adjacent to the Area is awkward and presents difficult IH maneuvers for vehicles. The adjacency of commercial development is not conducive to either pedestrians or vehicles and access to the Area is difficult for pedestrians from some of the adjacent residential areas. No detailed planning appears to have existed at the time of the development of the Area. p13. Environmental—Definition The question is whether the area has incurred Illinois Environmental Protection Agency or United States Environmental Protection Agency remediation costs for, or a study conducted by an independent consultant recognized as having expertise in environmental remediation has determined a need for,the clean-up of hazardous waste, hazardous substances, or underground storage tanks required by State or federal law, provided that the remediation costs constitute 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 conditions within the Area 14. Declining Equalized Assessed Value—Definition If the total equalized assessed value of the proposed redevelopment 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 which 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 States 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 22.51%which included a one year decline of 29.65%. The growth of the balance of the Assessed Value for the City of Decatur,outside the Area over the same period was 12.99%or an average of 2.6%per year,(see Exhibit E(5 Year Assessed Value Analysis and Comparison)). In four (4) out of the past five (5) years from 2005 to 2008 the rate of growth of the Equalized Assessed Value of the area of the City outside the Area has exceeded the rate of increase of the Equalized Assessed Value of the Area. In addition, in three(3)out of five 5 ears from 2004 to 2008 the rate of growth of the Consumer Price Index has O Y exceeded the rate of increase of the Equalized Assessed Value of the Area. Therefore, the statutory criteria have been met. D. Conclusion of Investigation of Blighting Factors for the Area The Area is impacted by a number of blighting factors. It was determined in the Investigation and Analysis of Blighting Factors in the Area that the Area qualifies as a combination of a 19