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2006-102 APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA
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2006-102 APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA
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Last modified
10/19/2015 2:47:30 PM
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10/19/2015 2:47:28 PM
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Resolution/Ordinance
Res Ord Num
2006-102
Res Ord Title
APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA
Approved Date
11/6/2006
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i=�o��K : 3`r'E�t �`age : ��s� <br /> c. Nlunicipal Sales Taa Inkerest- Phase i /Dev�.loper's'Site $200,000 <br /> a. A�lunicipal Sales -1 ax Interest -Phase II $ N/A <br /> 3. Estimated IvTumber of Permanent Jobs Created-Phase $ �' 20 <br /> Developer's Site � <br /> I <br /> Estimat�:d Number of Permanent Jobs Created-Phase �I N/A <br /> I�. De�eloper S}larc. c�t��I'1F Proceeds � <br /> 1. Real Estate lncrement Taxes I <br /> All Incremental Property "I'axes ! Developer's S te. <br /> . . � <br /> 2. Mumci�al Sales Taa <br /> Fifty (50) percent of Municipal Sales 1'ax , as Ilo�vs: <br /> Phase I - 50%, when added to incremen al real estate taxe�s�all <br /> r,c�t eYcce�i Eligible Kedevelon�neT�t Project Cc�sks incarred and pai�7. <br /> Phase II -To be determined. <br /> �. R�u? 1;�tate [r�,::rcn�ent-- Phase I � De�-eloper's Site <br /> � <br /> Yi-ojecte�l 1�i�lai 'ti E`v�' Equalirec? �.ssessed Valuation $2,5>5,349 <br /> Less: 17�ITIAL, Equalized Assessed Valuation $ 555,349 <br /> Projected Incremerital lncrease iri EAV $2,000,000 <br /> Projected Annual R�al Esiate Incremental "1'axes $179,85b I <br /> F. Real Estate lnc;remcnt- Phase II <br /> Projected �I'otal NEW' �'qualiz.ed �'lssessed Valuation $ N/A <br /> Page 20 of 32 �, <br />
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