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RESOLUTION NO.140)'�-�7 <br /> RESOLUTION AUTHORIZING SUPPORT OF <br /> TAX INCREMENT FINANCING <br /> WHEREAS, the City of Decatur has the responsibility to promote economic development <br /> and revitalization of underperforming areas within the City of Decatur; and <br /> WHEREAS,the City of Decatur recognizes that Tax Increment Financing(TIF)is a means <br /> to address areas of blight, support development and promote local job creation and retention; and <br /> WHEREAS, TIF incentives directly contribute to the expansion of the local tax base and <br /> attracts private development and new businesses to the City of Decatur; and <br /> WHEREAS, the availability of TIF is a critical mechanism to spur economic development <br /> for the City of Decatur; and <br /> WHEREAS, the Mayor and City Council of the City of Decatur find that the availability of <br /> TIF as an economic development tool is essential for the continuing economic vitality of the City <br /> of Decatur. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, <br /> ILLINOIS: <br /> Section 1. The foregoing recitals shall be and are hereby incorporated as findings of fact as <br /> if said recitals were fully set forth herein. <br /> Section 2. The City of Decatur urges the Illinois General Assembly and Governor to <br /> protect TIF in its current form as a valuable economic development tool without additional <br /> restrictions on municipal governments and the communities they serve. <br /> Section 3. The City Clerk shall forward a copy of this Resolution to the Illinois Municipal <br /> League. <br /> PRESENTED AND ADOPTED this 21'day of February, 2023. <br /> dt�t hA <br /> JULIE MOORE WOLFYOR VL <br /> ATTEST: <br /> KIM ALTHOFF, CITY CLERK <br />