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3. Provides for the adaptive reuse of the property with an emphasis on utilization of <br /> the entire floor area; <br /> 4. Promotes redevelopment of retail / commercial space along North Main Street, <br /> Merchant Street and Prairie Avenue, thereby generating additional business <br /> activity within the area; and <br /> 5. Generates tax increment to the Olde Towne TIF. <br /> POTENTIAL OBJECTION: Staff is not aware of objectors to this agreement. <br /> INPUT FROM OTHER SOURCES: The proposed project has been reviewed for <br /> consistency with the Olde Towne TIF Redevelopment Plan as sta.ted above. <br /> STAFF REFERENCE: Any additional questions may be forwarded to Dane Bragg at I, <br /> 424-2727 or dbrag�(�c?decaturnet.org. � <br /> BUDGET/TIME IMPLICATIONS: The eligible reimbursable expenses of $65,000 <br /> would be paid from the Olde Towne Redevelopment Fund (19) upon the collection of <br /> annual property taxes and a request for reimbursement by the developer. <br />