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ittg. i uc .,.,....,,,,...... ... _ ---� <br /> yual�fy the Amended Disfrict is established. A T1F <br /> Redevelopment Project Area District may last for up to 23' • <br /> as a Blighted Area must be years. The amended Area will <br /> addressed. The Amended be limited in time to ttie origi- <br /> Redevelopment Project Area nal TIF DistricYs farmation m <br /> wil�, requtre improvements 1997. With Tax Increment <br /> throughout the remaining life Financing a property t�,base <br /> of the TIF District.The imple- is preserved dunng the hfe of <br /> mentation.of the public pro- the TIF District thaE will con- <br /> ects provided in the Amended tinue to pay for the basic pub- <br /> �lan will help addtess,current lic services the praposed rede- <br /> needs and encourage.new pri- velopmenC azea already <br /> vate investment withm the. receives. New incremental <br /> Amended. Redevelopment pr�operty tax revenue in the <br /> Project Area: All property in City of Decatw may be used <br /> the proposed amended area to help pay for the infrastruc- <br /> wou�d substantially benefit by ture,necessary for,stimutating <br /> a series of public and private additional pnvate-sector <br /> redevelopment projects. investment. <br /> Incremental funds; inclasling <br /> reaI estate and mnni�ipal sales SECOND AMENDM$NT <br /> Evices generated within the TO DECATUR SOUTH= <br /> r,edeveFopment" project area EAST PLAZA 'FTF �IS- <br /> ean and may,t�e used for any TRI�'F . <br /> public or pnvate prr ects as AN�I�DED� LEQAL <br /> set forth in ttie Amen�ed Plan. - DE5CR`TPTION <br /> The Devetoper wili construet <br /> at its own expense public EXISTIN� TIF DIS'1`RICT: <br /> streets, intersechon signaliza- All of the Soutliwest Quarter <br /> tion; sewer lines,•water lines, of tt►e-Northwest Quarter of <br /> and such other pulslic infra- Section Twenty-eight (28), <br /> §tructwe as required to devel- Township Sixteen 16)North, <br /> op,the amended Area and the Range,Three (3) �ast af the <br /> Area as a wh'ole._However,as 3rd P.M.,_except that portion <br /> permitted by Section 65 ILCS thereof previously dedicated <br /> 3/11-74.4-5(c) of the Act, the or'conveyed for public high- <br /> total estimated costs set out in way purposed; situated in" <br /> the original Redevelopment Macon County; and that por- <br /> Plan are not being increased tion of Illinois Route 121.pre- <br /> by more than 5%after'adjust- viously dedicated that lies <br /> ment for, intlation from the adjacent to the abo`ve <br /> date the Ptan was adopted. described property. <br /> The term of the origmai <br /> Redevelopment Plan will not AMENDED TIF DISTRICT: <br /> be extended by this Second The North Half of the North <br /> Amendment to the Decatur Half of the Northwest Quarter <br /> Southeast Plaza.TIF District, of the Southwest Quarter of <br /> � Section Twenty-eight (28 , <br /> Long . Term Goals and• Township Sixteen 16)No , <br /> Object�ves: As set out in the Range Three (3) �ast of the <br /> original Decatur .Sout heast 3r d P.M.> except that p ortion <br /> Plaza . TIF ' District �thereof previously dedicated <br /> Redevelopment Plan> the or conveyed for public.high- <br /> major f6cus of this Ta1c way pnrposes,, sityated m <br /> Increment Financing District Macon County; and that por- <br /> is commercial arid residentiai tion'of Illitrois Route 121pre- <br /> development as well as the viously dedicated that lies <br /> public infrastnicture required adjacent to the 'above <br /> to make such developments descri�ed property. <br /> possible and improve the <br /> `qverall quatity of life.for ttre SECOND. AMENDMENT <br /> residents of Decatur. Speci�ic TO• DECATUR SOU'I'H- <br /> long range goals for the EAST PLAZA TIF DIS- <br />