2003-64 ADOPTING AND APPROVING THE NEAR NORTH REDEVELOPMENT PLAN

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, , , , _ ORDINANCE NO. 2003-64 AN ORDINANCE ADOPTING AND APPROVING THE NEAR NORTH REDEVELOPMENT PLAN OF THE CITY OF DECATUR, ILLINOIS, AND THE RELATED REDEVELOPMENT PROJECT FOR THE PROPOSED NEAR NORTH REDEVELOPMENT PROJECT AREA WHEREAS, the City of Decatur, Illinois (the"Municipality"), acting through its City Council (the KCorporate Authorities") and other of�cers and representatives have duly noticed, held and conducted all proceedings, including the required public hearing and joint review board action, preliminary to the designation of the "Near North Redevelopment Project Area" (the ��Redevelopment Project Area"), the approval of the "Near North Redevelopment Project and Redevelopment Plan of the City of Decatur, Illinois" (the "Redevelopment Plan" and the related redevelopment project, the "Redevelopment Project") and the adoption of tax increment financing to finance the Redevelopment Plan and the Redevelopment Project, all under and pursuant to the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq., as supplemented and amended(the"TIFAct")); and WHEREAS, pursuant to Ordinance No. 2003-51, setting a Public Hearing Date for a Proposed Near North Redevelopment Project Area, and Related Matters, adopted August 18, 2003, the Corporate Authorities set October 20, 2003 at 5:30 p.m. at One Gary K. Anderson Plaza, Decatur, Illinois 62523, in the City Council Chambers, for the public hearing, under Section 11-74.4-5(a)(i) of the TIF Act. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DECATUR,ILLINOIS, as follows: Section 1. Under the TIF Act the Municipality, hereby adopts and approves the Redevelopment Plan and the Redevelopment Project for the Redevelopment Project Area. • Section 2. The Redevelopment Plan shall be in the form presented to the Corporate Authorities at the time this ordinance is adopted. T'he Redevelopment Plan as so