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R2004-53 AUTHORIZING REDEVELOPMENT AGREEMENT Olde Towne Lucas
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R2004-53 AUTHORIZING REDEVELOPMENT AGREEMENT Olde Towne Lucas
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Last modified
1/6/2016 8:25:46 AM
Creation date
1/6/2016 8:25:44 AM
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Resolution/Ordinance
Res Ord Num
R2004-53
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT FOR PROPERTY LOCATED AT 219-245 NORTH MAIN STREET - LUCAS PROPERTIES LLC
Approved Date
4/5/2004
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. ' ' • <br /> 2 25% <br /> 3 25% <br /> 4 25% <br /> 5 25% <br /> Years 6 - 15 50% <br /> Special Account Percentage . . . . . . . . <br /> Year 1 75% <br /> 2 75% <br /> 3 75% <br /> 4 75% <br /> 5 75% <br /> Years 6 - 15 50% <br /> Annual Total: 100% <br /> (2) REAL ESTATE INCREMENTAL TAXES <br /> Projected Total NEW Equalized <br /> Assessed Valuation $ 500,000. <br /> Less: IrTITIAL Equalized Assessed Valuation $ 100.140. <br /> Projected Incremental increase inEAV $ 399,860. <br /> Projected Annual Real Estate Incremental Taxes $ 35.547. <br /> E. DEVELOPMENT AREA <br /> (1) DEVELOPER'S INTEREST IN DEVELOPMENT AREA: <br /> (if other than fee ownership, describe <br /> and attach lease or other applicable <br /> document): Fee Sunple <br /> (2) DEVEL-OPMENT AREA: <br /> Street Address: 219 -245 North Main Street <br /> � Legal Description: <br /> The South 20 feet of Lot One(1)AND the North 10 feet of Lot Two (2) in Block Three(3)of Cowan and <br /> Hostetler's Addition to Decatur, situated on the West side of North Main Street, as per Plat recorded in <br /> Book A, Page 201 of the Records in the Recorder's Office of Macon County, Illinois, EXCEPTING <br /> THEREFROM a tract described as follows: Beginning at a point which is the Northeast Corner of the <br /> Page 14 of 15 <br />
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