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� I. INTRODOCTION <br /> The City of Decatur is located in central Illinois <br /> approximately 179 miles from Chicago, 123 miles from St. Louis, <br /> and 165 miles from Indianapolis. The city covers 41 square <br /> miles. <br /> Decatur's growth can be attributed to a strong manufacturing <br /> sector. In 1960, the community's population was 78, 004 and <br /> climbed to 90, 397 in 1970. In 1980, the population was 94, 081. <br /> In the early 80 's, Decatur's economy began to undergo a major <br /> change. As with all cities in the manufacturing belt of this <br /> country, fundamental changes have occurred. Projected population <br /> for Decatur in 1990 is estimated to be 88,000 persons. <br /> With stability returning to the local economy, <br /> diversification of the local economy is considered a requisite <br /> for the long term stability of the Decatur community. <br /> II. GENERAL GOALS <br /> The City of Decatur is committed to the continued growth of <br /> the community and improvements in the quality of life. As part <br /> of a community strategic planning process, the following economic <br /> development goals have been adopted: <br /> 1. Assist existing businesses. Maintain and expand <br /> financial assistance, development incentives, training, <br /> and advisory services to existing businesses, including <br /> minority and small business. <br /> 2 . Launch an aggressive marketing campaign to attract new <br /> business. <br /> 3 . Create a business climate conductive to small business <br /> and new enterprise development. Provide business, <br /> educational, transportation, and financial resources <br /> needed to assist small businesses and to encourage <br /> entrepreneurs to establish new businesses in the <br /> Decatur area. <br /> III. TAB INCREMENT FINANCING REDEVELOPMENT <br /> After a blighted area is designated as a Redevelopment <br /> Project Area, and Tax Increment Financing is adopted, pursuant to <br /> the Real Property Tax Increment Allocation Redevelopment Act (the <br /> "ACT") as amended, all taxing districts will continue to receive <br /> the real estate tax revenue they received prior to redevelopment. <br /> The new real estate tax revenue generated by the application of <br /> tax rates due to the increase in assessed values is described as <br /> tax increment revenue. As soon as redevelopment project costs <br />