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R2010-208 AUTHORIZING REDEVELOPMENT AGREEMENT
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R2010-208 AUTHORIZING REDEVELOPMENT AGREEMENT
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Last modified
10/2/2015 10:20:11 AM
Creation date
10/2/2015 10:20:10 AM
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Resolution/Ordinance
Res Ord Num
R2010-208
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT REYNOLDS DEVELOPMENT, LLC
Department
Development Services
Approved Date
11/1/2010
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� <br /> � <br /> '�'� <br /> .e <br /> � ll. INCREM�NTAL TA7��S <br /> � <br /> � <br /> � (1) INCR�M�NTAL SALES TA�ES <br /> '�� <br /> � City Pei•centage 50 % <br /> ,� <br /> �o Special Account Pei•centage 50 % <br /> 4i <br /> � <br /> � Total: 100 % <br /> ,� <br /> Annual State and Municipa] Sales Taxes Generated $78,188 <br /> (2) INCI2EMENTAL ItEAL ESTATE TAXES If a If a <br /> 2 Story Bld�.: 3 Stor � B� ld�•: <br /> Projected Total NEW Equalized Assessed Valuation $1,266,667.00 $1,733,333.00 <br /> Less: INITIAL Equalized Assessed Valuation $0 $0 <br /> Projected Incremental Increase in EAV $1,266,667.00 $1,733,333.00 <br /> Projected Annual Real Estate Incremental Taxes $102,853.00 $140,764.00 <br /> E. DEVELOPMENT AREA <br /> (1) DEVELOPER'S INT�REST IN DEVELOPMENT AREA: <br /> (if othei•than fee ownership, describe and attach lease or other <br /> Applicable Document): <br /> � Building Occupant. <br /> (Z) PREMISES: <br /> Legal Description: <br /> Approximately the West Si�:ty (60) Feet of Lots One (1), Two (2), Three (3), Four <br /> (4), Five (5), and Six (6) of the Resurvey of Snyder's Addition and Lots One (1), <br /> Two (2) and Three (3) in Block Two (2) of Centra] Addition to Decatur as per <br /> Plai recorded in Book l 49, Page 303 of the Records in the Recorder's Off ce of <br /> Macon County, Illinois (Subject to Survey). <br /> - 26 - <br />
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