2000-37 DESIGNATING OLDE TOWNE REDEVELOPMENT PROJECT AREA

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� . j ,-� �� � ` 2' � � . ORDINANCE NO. 2000-37 AN ORDINANCE DESIGNATING THE CITY OF DECATUR, ILLINOIS OLDE TOWNE REDEVELOPMENT PROJECT AREA WHEREAS, the City Council of the City of Decatur, Illinois (the ��Municipality")has adopted and approved the "Olde Towne Redevelopment Plan of the City of Decatur, Illinois," and the related redevelopment project (the "Redevelopment Plan" and ��Redevelopment Project") for the Municipality's proposed Olde Towne Redevelopment Project Area (the "Redevelopment Project Area," as described in the attached Exhibit A described in the Redevelopment Plan, and under the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq., as supplemented and amended(the"TIF Act")); and WHEREAS, pursuant to Ordinance No. 99-104, Ordinance Setting Public I Hearing Date for Proposed Olde Towne Redevelopment Project Area, and Related Matters, adopted October 18, 1999, the Corporate Authorities set May 1, 2000 at 6:30 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, as amended by P.A. 91-478. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS, as follows: Section 1. The Municipality hereby designates the real estate described in the attached "City of Decatur, Illinois Description for Olde Towne Tax Increment Financing DistricY' as a redevelopment project area under the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq., as supplemented and amended), and as the Redevelopment Project Area hereunder.