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Main, North and State Streets, in Decatur, Illinois, located in the Redevelopment Area, as further
<br /> described in Exhibit A, attached hereto and incorporated herein by reference.
<br /> "Governing Body" means the Municipality's City Council.
<br /> "Material Changes" means those changes that could reasonably be expected to result in a decrease
<br /> of at least twenty percent (20%) of the annual amount of tax increment generated within the Development
<br /> Property.
<br /> "Municipality" means the City of Decatur, Illinois, a municipal corporation organized and existing
<br /> under the laws of the State of Illinois.
<br /> "Municipality Approvals" means all plat approvals, re-zoning or other zoning changes, site plan
<br /> approvals, conditional use permits, building permits, storm water management plan approvals or other
<br /> subdivision, zoning, building or similar approvals required for the implementation of the Redevelopment
<br /> Plan and Redevelopment Project and consistent with the Act, the Concept Site Plan, and this Agreement.
<br /> "Municipality Attorney" means the Municipality's duly selected Corporation Counsel or any
<br /> attorney at law or a firm of attorneys acceptable to the Municipality in general matters pertaining to
<br /> municipal law and duly admitted to the practice of law before the highest court of the State of Illinois.
<br /> "Plan" or "Redevelopment Plan" means the redevelopment plan titled the "Olde Towne
<br /> Redevelopment Plan of the City of Decatur, Illinois" duly approved and adopted by the City Council
<br /> pursuant to Ordinance No. 2000-36 on May 15, 2000, and as such Plan may be amended from time to
<br /> time.
<br /> "Redevelopment Area" means the Municipality's Olde Town Redevelopment Project Area as
<br /> described in the Redevelopment Plan.
<br /> "Redevelopment Project" means the redevelopment project described in the Plan.
<br /> "Redevelopment Project Costs" means and includes the sum total of all reasonable or necessary
<br /> costs incurred or estimated to be incurred in undertaking Development Project and any such costs
<br /> incidental to the Redevelopment Plan or the Redevelopment Project. Such costs may include without
<br /> limitation the following: (a) costs of studies, surveys, development of plans, and specifications,
<br /> implementation and administration of the Plan including without limitation staff and professional service
<br /> costs for architectural, engineering, legal, financial, planning or other services; provided however that no
<br /> charges for professional services may be based on a percentage of the tax increment collected, no
<br /> contracts for professional services, excluding architectural and engineering services, may be entered into
<br /> if the terms of the contract extend beyond a period of three yeazs, and no annual administrative costs shall
<br /> include general overhead or administrative costs of the Municipality that would still have been incurred
<br /> by the Municipality if the Municipality had not designated the Redevelopment Area or approved the
<br /> Redevelopment Plan; (b) the cost of marketing sites within the Redevelopment Area to prospective
<br /> businesses, developers and investors; (c) property assembly costs, including without limitation acquisition
<br /> of land and other property, real or personal, or rights or interests therein, demolition of buildings, site
<br /> preparation, site improvements that serve as an engineered barrier addressing ground level or below
<br /> ground environmental contamination, including without limitation parking lots, and other concrete or
<br /> asphalt barriers, and the clearing and grading of land; (d) costs of rehabilitation, reconstruction, or repair
<br /> or remodeling of existing public or private buildings, fixtures, leasehold improvements, and the cost of
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