Laserfiche WebLink
Book : 4033 Page: 887 <br /> et.al., Case No 2008-CH-110 Circuit Court of the Sixth Judicial Circuit of Illinois, <br /> which provides for the "initial equalized assessed value" (the "IEAV") of the <br /> former "K-Mart parcel" constituting a part of the Developer's Site to be set at <br /> zero ($ -0-) but only to the extent of the lesser of: (a) the additional amount <br /> attributable to the change from Fifty (50 %) Percent to One Hundred (100%) in <br /> (i) and (ii) above or (b) the difference in real estate tax increment pursuant to the <br /> Tax Increment Allocation Redevelopment Act collected on the K-Mart Parcel for <br /> the year 2009 and beyond and the amount of real estate tax increment that would <br /> have been collected had the IEAV of the former K-Mart parcel been returned <br /> to zero ($ -0-) for the year 2009 and beyond; subject to the other terms and <br /> limitations on the Municipal Sales Tax Increment set forth in this Agreement, <br /> including the maximum limitation thereon. <br /> Section 2. Findings. This Amendment incorporates the City Council's findings <br /> related to "economic incentive agreements" under Section 8-11-20 of the Illinois Municipal <br /> Code in the ordinance approving this Amendment. <br /> Section 3. Redevelopment Agreement. In all other respects the Initial <br /> Redevelopment Agreement shall be given effect as amended by this Amendment and together <br /> this Amendment and the Initial Redevelopment Agreement constitute the Redevelopment <br /> Agreement. <br /> This First Amendment is made as of the Dated Date above. <br /> CITY OF DECATUR, ILLINOIS IP PLAZA, LLC <br /> By: By: <br /> Cit anager Manager <br />