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1� , , <br /> _ , � ' � <br /> using economic incentives to assist with public infrastructure costs in addition to <br /> other eligible costs. � <br /> The City of Decatur hopes to encourage new commercial and residential <br /> development to the City by allocating a percentage of incremental real estate and <br /> municipal sales tax to the project to pay for these costs. <br /> The City will not be required to invest directly in any infrastructure <br /> i.mprovements. <br /> Estimated public and private development costs can be found in Exhibit C. <br /> B. Present and Projected Tax Increment <br /> The present and projected equalized assessed valuation and the projected real <br /> esta.te and municipal sales tax increments generated by the proposed district are <br /> shown in Exhibit D, attached hereto. <br /> ' C. Nature and Term of Obligations <br /> The city will issue notes when eligible project costs are incurred to evidence <br /> its obligation to reimburse the Developer when ta�c increment is available in the <br /> Special Tax Allocation Fund. <br /> Based on the preliminary projections of the City and the Developer, it is <br /> currently anticipated that all eligible redevelopment project costs will be reimbursed <br /> to the developer no later than 10-12 years from the time the Tax Increment <br /> Financing District is put into place. <br /> D. General Land Uses <br /> The commercial and residential uses of the land within the TIF District <br /> conform to the existing and proposed land uses in the City's Urban Area Land Use <br /> Plan dated 1990 and as amended by current zoning use changes. A copy of the <br /> City's current land and proposed zoning use plan for the Area are attached as <br /> Exhibit A-3. <br /> 16 <br />