2003-64 ADOPTING AND APPROVING THE NEAR NORTH REDEVELOPMENT PLAN

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� � N. According to the Act, the municipality must find, in the case of an industrial park conservation Redevelopment Project Area, that the municipality is a labor surplus tmunicipality and that the implementation of the Redevelopment Plan will reduce unemployment, create new jobs and by the provision of new facilities, enhance the tax base of the taxing districts that extend into the Redevelopment Project Area. � The Redevelopment Project Area is not an Industrial Park Conservation Redevelopment Project Area. � O. According to the Act, the municipality must f nd that the Project Redevelopment Area would not reasonably be developed without the use of incremental revenue. � The City finds that the Redevelopment Project Area has not been sicbject to growth through new,private investment. The Ciry finds that new private investment would not be practical withoa�t the use of incremental tax revenue to finance the necessary pccblic infrastructa�re r , improvements. � P. According to the Act, the municipality must certify that such incremental revenues [ will be exclusively utilized for the development of the Redevelopment Project Area. � The City certifies that incremental tax revenues will be used exclusively for the development of the Redevelopment Project Area. Incremental Property Taxes will be used according to the ' specification of Redevelopment Project Costs set forth in this Redevelopment Plan. Q. According to the Act, the municipality must determine the need for a housing impact � study, based on 10 or more inhabited residential units to be displa�ced, and certify if the above criteria are not met. The Ciry of Decatur hereby certifies that this Redevelopment Plan will not result in � displacement of residents from 10 or more inhabited residential units, exceeding the maximum number under the Act. � R. According to the Act the municipatity must determine the number of residents and certify that the Redevelopment Project Area contains 75 or less residents. The City hereby determines that the Redevelopment ProjectArea does not contain 75 or more ( inhabited residential units, exceeding the maximum number icnder the Act. S. According to the Act, the municipality must incorporate the housing impact study if � required. Tlie Ciry of Decatur hereby certifces that this Redevelopment Plan will not result in ' displacement of residents from inhabited units exceeding the maximum number acnder the Act. Therefore, no housing impact sta�dy is required. The City reserves the right under the Act to effect dzsplacement of up to 10 tnhabated rescdential a�nits. ! � . I I '�� I 13