R2007-63 INTENT TO REIMBURSE - Laserfiche WebLink

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. * RESOLUTION NO. R2007-63 A RESOLUTION OF INTENT TO REIMBURSE IN CONNECTION WITH THE CITY OF DECATUR, ILLINOIS OLDE TOWNE REDEVELOPMENT PROJECT AREA WHEREAS, the City of Decatur, Illinois (the "City") has advanced funds from the City's Planning Fund to finance the acquisition of certain downtown properties within the City's Olde Towne Redevelopment Project Area (the "Redevelopment Project Area"), and related costs (the "Acquisitions"), with respect to which the City intends to be reimbursed from incremental taxes in the Olde Towne Redevelopment Project Area Special Tax Allocation Fund ("STAF") (subject to any prior lien or pledge). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF , THE CITY OF DECATUR, MACON COUNTY, ILLINOIS, as follows: � Section 1. The City has advanced funds from the City's Planning Fund to finance �I the Acquisitions and reserves the right to be reimbursed for such funds so advanced from ', the STAF. , Section 2. This intent to reimburse and apply incremental taxes from the STAF is made under the Tax Increment Allocation Redevelopment Act. Upon motion by Councilman Laegeler, seconded by Councilman Edwards, adopted this 16t" day of April, 2007, by roll call vote, as follows: Voting "aye" (names): Councilmen Betsy Stockard, Michael T. Carrigan, Dan Caulkins, Shad L. Edwards, Patrick S. Laegeler Mike McElroy, and Mayor Paul Osborne Vot:ng "nay" (names): None Absent (names): None PRESENTED and ADOPTED this 16th day of April, 2007. �` � �%� // ... .r �-� ��,/ _ PAUL OSBORNE. MAYOR AT�'��fiT: /� / � �- � J/ r � (�.t � ��- �r c f,�` ��2�� CITY CLERK I��.