R2010-04 RECEIVING CERTIFICATE OF PUBLICATION

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City of Decatur, outside the Area over the same period was 12.99% or an average of 2.6% per year,. In four (4) out of the past five (5) years from 2005 to 2008 the rate of growth of the Equalized Assessed Va1ue 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) years from 2004 to 2008,the rate of growth of the Consumer Price Index has exceeded the rate of increase of the Equalized Assessed Value of the Area. Therefore,the statutory criteria have been met. 4. The Area exceeds the statutory minimum size of 1-1/2 acres. 5. The Area is contiguous, and is contained within a single perimeter boundary. 6. All properties included in the Area will substantially benefit from being included in the Area. 7. The Redevelopment Plan conforms with the Comprehensive Plan for the development of the municipality as a whole as determined by the City Council. 8. The Area, as a whole, has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the Redevelopment Plan. It is clear that the Area on the whole has not been subject to growth and investment and would not develop without the adoption of this Redevelopment Plan and Tax Increment Financing. Several knowledgeable parties familiar with the Area and the potential developer have confirmed this by indicating that they would not invest in the Area without the adoption of Tax Increment Financing and this Redevelopment Plan. The Equalized Assessed Value of the Area is lagging significantly behind the rest of the Town and evidence of the lack of reinvestment can be seen throughout the Area. Properties in the Area have histories of poor building maintenance, poor mechanical and building systems and conditions which pose significant fire and life safety hazards, inadequate interior conditions and the lack of any significant reinvestment. In addition they also show lack of maintenance and repair and a lack of reinvestment. This established an overall image of the Area as one in decline or ready to decline, with a few exceptions. The proposed private redevelopinent activities are contingent upon adoption of a Redevelopment Project Area and Redevelopment Plan, as there is little likelihood that money required to make public improvements and provide incentives to assist in the redevelopment activities can be generated absent TIF. The evidence of lack of investment in the area, both by existing property owners and potential private sector entities, clearly demonstrates that the Area has not been subject to investment and 2