2003-64 ADOPTING AND APPROVING THE NEAR NORTH REDEVELOPMENT PLAN

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� � Program I The City proposes to achieve its redevelopment goals and objectives for the Redevelopment Project Area through public financing techniques including, but not limited to, tax increment financing and by utilizing other financing techniques to undertake I some or all of the following activities and improvements: 1. Analysis, Administration, Studies, Surveys, Legal, etc. The City may undertake or engage professional consultants, engineers, architects, attorneys, etc. to conduct � various analyses, studies, surveys, administration or legal services to establish, implement and manage the Redevelopment Plan. 2. Property Assembly. The City, or an agent for the City, may acquire and assemble � land for the purpose of redevelopment. Vacant, underutilized or misused property may be acquired by purchase, exchange, 100% write down, or long-term lease by private developers or the City for the purpose of new development. � 3. Site Preparation. The City may assist businesses in the preparation of land and buildings for the relocation of businesses including IEPA hazardous waste clean up. To the extent these conditions are found, funds may be used to assess the conditions � and, where applicable, provide for or assist with the clean up. 4. Public Utility/Infrastructure Improvements. The City may -provide public improvements and facilities that are necessary to service the Redevelopment � Project Area in accordance with the Redevelopment Plan. Public improvements and facilities may include,but are not limited to, the following: i. Streets, sidewalks, bike paths,utilities, parking, and street lighting I ii. Water and sanitary sewer mains/systems . iii. Stormwater management system/facilities iv. Landscaping and public/open space improvements � Policies The City proposes to undertake this Redevelopment Plan and the related Redevelopment I Project, which consists of planned economic development and redevelopment activities, sound fiscal policies, marketable land uses, and other private and public activities. Appropriate policies have been or will be developed as required assuring the completion of this Redevelopment Plan � and the activities specified. The City may also employ other financial incentives for private investment within the � Redevelopment Project Area. This includes tax increment financing, which constitutes one of the key financial components for enabling the redevelopment of the Redevelopment Project Area. This portion of the community, the City as a whole, and all other local taxing bodies, will benefit � from the implementation of this Redevelopment Plan. I l . I � 9