2008-33 ADDING TERRITORY TO ENTERPRISE ZONE - BAKER'S DOZEN LLC AND OXFORD HOUSE

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Baker's Dozen/Oxford House Ezone May 27, 2008 Page two 2) The legal description in the proposed Ordinance under Parcel 2 is identified on the attached map entitled Exhibit "C" as tme Oxford House property. In order to complete a much needed renovation of this'30 year old, 156 unit, Section 8 senior housing facility, certain state ent�rprise zone benefits are critical. The investment in Oxford House is projected to be in excess of $13.5 Million. Seven full time jobs will be retained and numerous construction jobs will be created during the redevelopment period. The acreage of the parcels in Exhibit "C" totals approximately 26.54 acres. By statute, the zone may encompass up to 12 square miles. Currently the zone officially encompasses 10.75 square miles. Including the most recent boundary modification request previously approved by you and currently pending with the State of Illinois of 328.22 acres, EDC is working from the assumption that the conditional boundary of the zone encompasses 11.25 square miles. By adding the Bakers Dozen and Oxford House properties and assumir�g State of Illinois i approval of the pending application, total zone size will still b� below the statutory �� maximum at 11.29 square miles. I Maps are included for your review. I Your concurrence is the fifth step in the local portion of the formal application and approval process. As mentioned above, the Enterprise Zone Advisory Board, the Macon County EEHW Committee and the full , Macon County Board have previously approved the additions. No '�, objections were heard in the March 27, 2008 public hearing. The lllinois i, Department of Agriculture has also approved the additions as required by �� statute. Upon your approval, EDC will submit the formal application to the State of Illinois and final approval is expected by the end of July. Thank you for your consideration of our request. JCC/hs enclosures