2006-70 APPROVING AN AMENDMENT TO THE CITY OF DECATUR SOUTHEAST PLAZA TAX INCREMENT FINANCING DISTRICT REDEVELOPMENT PLAN AND PROJECTS

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. . WHEREAS, all requested reimbursements for professional legal and administrative services must be accompanied by required documentation as outlined in Article V Section 2(b) of the Redevelopment Agreement between the City of Decatur and Airport Plaza Joint Ventures; and i WHEREAS, Developer has requested that the City approve its previously II' submitted verifications of cost eligibility of Developer's expenditures with regard to this Project ; and WHEREAS, the City wishes to ratify and confirm its Redevelopment Agreement with the Developer and the TIF Plan of Southeast Plaza TIF District by increasing the eligible redevelopment project costs as shown in Exhibit A. WHEREAS, the proposed Amendment does not alter the exterior boundary of the Redevelopment Project Area; affect the general land uses established pursuant to the Redevelopment Plan; or change the nature of the Redevelopment Projects; and WHEREAS, the proposed Amendment is consistent with the Plan and Projects and has been reviewed by the City Administration and Council and the Council is generally informed of these Projects. NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF DECATUR, MACON COUNTY, ILLINOIS: 1. The recitals set forth in the preamble to this Ordinance are hereby incorporated by reference as if fully set forth herein. 2. The Redevelopment Plan and Projects are hereby amended to include Developer's Agreement with the Mt. Zion Community Unit School District No. 3 for the reimbursement of a portion of its capital costs or other eligible costs as in accordance with the TIF Act; Developer's legal and administrative agreement, as amended; and all other eligible redevelopment costs entered into or undertaken by Developer heretofore as set forth in detailed filings with the City as of this date and, further, all such agreements, projects and costs are hereby ratified. 3. This Ordinance shall be in full force and effect from and after its passage and approval as provided by law.