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97-32 APPROVING CITY OF DECATUR TAX INCREMENT REDEVELOPMENT PALN AND REDEVELOPMENT PROJECT
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97-32 APPROVING CITY OF DECATUR TAX INCREMENT REDEVELOPMENT PALN AND REDEVELOPMENT PROJECT
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Last modified
3/17/2016 4:48:21 PM
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3/17/2016 4:48:17 PM
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Resolution/Ordinance
Res Ord Num
97-32
Res Ord Title
APPROVING CITY OF DECATUR TAX INCREMENT REDEVELOPMENT PLAN AND REDEVELOPMENT PROJECT - SOUTHEAST PLAZA
Approved Date
5/5/1997
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� � <br /> �.� ' , <br /> . <br /> , � <br /> (7) All or a portion of a ta�cing district's capital costs resulti.ng from <br /> the redevelopment project necessarily incurred or to be inciured <br /> in furtherance of the objectives of the redevelopment plan and <br /> project, to the extent the municipality by written agreement <br /> accepts and approves such costs; <br /> (8) Relocation costs to the e�ctent that a municipality determi.nes that <br /> relocation costs shall be paid or is required to make payment of <br /> relocation costs by federal or State law; <br /> (9) Payment in lieu of taxes; <br /> (10) Interest cost incuned by a redeveloper related to the <br /> construction, renovation or rehabilitation of a redevelopment <br /> project. Such payments in any one year may not exceed 30% of <br /> such annual interest costs and the total of such interest payments <br /> may not exceed 30% of the total redevelopment project costs, <br /> excluding any property assembly costs and relocation costs <br /> incurred pursuant to the TaY Increment Allocation <br /> Redevelopment Act. <br /> 9. "Tazing districts" <br /> Counties, townships, cities and incorporated towns and villages, <br /> school, road, park, sanitary, mosquito abatement, forest preserve, <br /> public health, fire protection, river conservancy, tuberculosis <br /> sanitarium and any other municipal corporarions or districts with the <br /> power to levy taxes. <br /> 10. "Taxing districts' capital costs" <br /> Those costs of taxing districts for capital improvements that are found <br /> by the municipal corporate authorities to be necessary and directly <br /> result from the redevelopment project. <br /> 11. "Vacant land" <br /> Any parcel or combination of parcels of real property without <br /> 7 <br />
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