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INTRODUCTION TO THE TIF REHABILITATION PROGRAM <br /> The City of Decatur TIF Rehabilitation Program will provide forgivable building <br /> rehabilitation/improvement funds to owners of single-family properties, multi-family properties, <br /> mixed use properties and commercial properties. The program is available for properties along <br /> the West Main Street Corridor in the designated Olde Towne TIF District. One of the primary <br /> goals of the program is to preserve housing, stabilize or increase property values, and provide an <br /> incentive for rehabilitation with building rehabilitation financial assistance. In part, this program <br /> is created to strengthen the supply of decent, affordable housing. <br /> Another goal is to provide assistance in a prioritized but equitable manner to owner-occupied <br /> single-family residential units, multi-family units, mixed-use, and commercial properties. <br /> Priority will be given to funding rehabilitation for life and safety items, code items, and incipient <br /> code items. General improvement items may be eligible to receive financial assistance. <br /> This manual sets forth the guidelines for rehabilitation. <br /> PROGRAM OBJECTIVES <br /> Program goals will be met through the use of the following objectives: <br /> 1. To remove unhealthy or hazardous building conditions. <br /> 2. To use the funds as a catalyst to encourage property owners to improve their community. <br /> 3. To revitalize and preserve the existing building sto.ck. <br /> 4. To preserve and stabilize the property tax base and potentially increase property values in <br /> the TIF neighborhood. <br /> 5. To finance needed building improvements in the targeted area using a combination of <br /> TIF and private funds. <br /> ELIGIBILITY REQUIREMENTS FOR TIF REHABILITATION PROGRAM <br /> The following information is to provide overall eligibility criteria for participation in the <br /> Rehabilitation Program. <br /> A. Project Unit Eligibility <br /> 1. For a dwelling unit to qualify as eligible for work under the TIF program, it must meet all <br /> of the following criteria: <br /> a. Be located in the designated target area. The target area is defined as properties <br /> along the West Main Street Corridor, between Church Street and Oakland <br /> Avenue. <br /> b. Be classified as "substandard or suitable for rehabilitation" by the Economic and <br /> Urban Development Department. <br /> 2 <br />