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R90-121 AUTHORIZING PUBLIC NOTICE OF A REDEVELOPMENT PLAN AND PROJECT UNDER THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
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R90-121 AUTHORIZING PUBLIC NOTICE OF A REDEVELOPMENT PLAN AND PROJECT UNDER THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
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7/26/2016 4:43:08 PM
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Resolution/Ordinance
Res Ord Num
R90-121
Res Ord Title
AUTHORIZING PUBLIC NOTICE OF A REDEVELOPMENT PLAN AND PROJECT UNDER THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
Approved Date
9/17/1990
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• . . , <br /> . ' <br /> , , professional service costs of architectural, <br /> ' engineering, legal, marketing, financial, planning, and <br /> other special services; <br /> 2 . Property assembly costs, including, but not limited to, <br /> acquisition of land and other property, real or <br /> personal, or rights or interests therein, demolition of <br /> buildings, and the clearing and grading of land to the <br /> extent the City determines that costs shall be paid by <br /> the City in accordance with State and Federal laws; <br /> 3 . Relocation costs to the extent that the City determines <br /> that relocation costs shall be paid or that the City is <br /> required to make payment of relocation costs by Federal <br /> or state laws; <br /> 4. Financing costs, including but not limited to all <br /> necessary and incidental expenses related to the <br /> issuance of obligations and which may include payment <br /> of interest on any obligation issued under the Act <br /> accruing during the estimated period of construction of <br /> any redevelopment project for which such obligations <br /> are issued and for not exceeding 36 months thereafter <br /> and including reasonable reserves thereto; <br /> 5. In addition to capitalized interests, there shall also <br /> be included in the cost of financing the ordinary and <br /> accustomed reasonable charges and out of pocket <br /> disbursements associated with the issuance of <br /> obligations; <br /> 6. All or a portion of a taxing district's capital costs <br /> are resulting from the Redevelopment Project <br /> necessarily incurred or to be incurred in furtherance <br /> of the objectives of the Redevelopment Plan and <br /> Project, to the extent the City, by written agreement, <br /> accepts and approves such costs; and <br /> 7. Construction costs for public works, site and <br /> streetscape improvements. <br /> The City of Decatur's Redevelopment Project costs will <br /> include the sum total of all reasonable and necessary costs <br /> incurred, or estimated to be incurred, and any such costs <br /> incidental to the Redevelopment Plan and are estimated to be not <br /> less than five million dollars. <br /> VII. SOIIRCES OF FQNDS TO PAY FOR REDEVELOPMENT COSTS <br /> Funds necessary to pay for Redevelopment Project costs may <br /> be derived principally from tax increment revenues and, if the <br /> 6 <br />
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