R2002-194 STATING INTENT TO REIMBURSE CITY

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.�� , RESOLUTION NO. R2002-194 RESOLUTION STATING INTENT TO REIMBURSE CITY FROM TAX INCREMENT FINANCE FUND FOR PURCHASE OF REAL ESTATE -OLDE TOWNE REDEVELOPMENT PROJECT AREA- WHEREAS, on July 15, 2002, as authorized by Resolution No. R2002-134, the City purchased the real property described as 356 - 366 North Main Street, formerly the Decatur Genealogical Society; and, WHEREAS, on August 12, 2002, as authorized by Resolution No. R2002-158, the City purchased the real property described as 355 North Water Street, formerly the Decatur-Macon County Senior Center (jointly, the Genealogical Society property and the Senior Center property hereinafter referred to as the "Property"); and, WHEREAS, the Property, as set out on Exhibit A hereto, is located within the Olde Towne Redevelopment Project Area("AREA"), as designated by Ordinance No. 2000-37, and it is the intent of the City to use the Property for the redevelopment of the Area in accordance with the Olde Towne Redevelopment Plan, as adopted by Ordinance No. 2000-36. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That, pursuant to U.S. Department of Treasury Regulations, Section 1.150-2, the City intends to seek reimbursement for the costs of the purchases of the Property as an eligible redevelopment cost from the Special Tax Allocation Fund established for the Olde Towne Redevelopment Project Area by Ordinance No. 2000-38 or from any obligation issued to finance such costs. PRESENTED and ADOPTED this 21st day of October, 2002. 'I . Howley, Ma ATTES � ___--- � ' � � CITY CLERK