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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 /> The following data show the population and changes for the City of Decatur from <br /> 1900 - 1990: <br /> YEAR POPULATION CHANGE (%) <br /> 1900 20,754 <br /> 1910 31,140 +50.0% <br /> 1920 43,818 +40.7% � <br /> 1930 57,510 +31.2% <br /> 1940 59,305 +3.1% <br /> 1950 66,229 +11.7% <br /> 1960 78,004 +17.8% <br /> 1970 90,397 +15.9% <br /> 1980 94,081 +4.1% <br /> 1990 83,885 -10.8% <br /> When this population trend is analyzed, it poses a problem for the City. <br /> More specifically, it creates a problem for all taxing bodies which levy in the City. <br /> For example, over the past several decades, the number of students per household in <br /> Downstate Illinois has decreased dramarically. Thus, school districts have relied on <br /> increases in population to make up for per household losses. Losses in population <br /> only increase the per capita cost burden on residents to provide a healthy <br /> educational environment for their children, especially in a time where school <br /> buildings are in need of serious capital improvements. <br /> Similarly, decreases in population increase the per capita bonded <br /> indebtedness of the City of Decatur at a time when the largest burden for local <br /> public infrastructure improvements and urban renewal are falling heavily on the <br /> municipalities and away from the federal government. Over the past 10 years alone <br /> the net bonded debt per capita has increased over 35% from $153.89 to $212.07 per <br /> person. Furthermore, the per capita bonded indebtedness of all taxi.ng districts <br /> lewing within the City of Decatur is $673.61. It is hoped that with the help of a <br /> Tax Increment Financing District as well as other community programs, this trend <br /> can be reversed and all taxing districts will benefit by an increase in population, <br /> assessed value, and the flow of tax dollars to these entiries . <br /> 9 <br />
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