HomeMy WebLinkAbout10-177 Resolution No. 10-177
RESOLUTION
CONCERNING A PUBLIC MEETING TO BE
CONDUCTED AS REQUIRED BY THE TAX INCREMENT
ALLOCATION REDEVELOPMENT ACT
(Proposed Bluff City Quarry TIF District)
WHEREAS, the City of Elgin, Kane and Cook Counties, Illinois (the "City") is studying
the possible designation of certain real property located in the City (the "Property") as described
and depicted on Exhibit A attached hereto and incorporated herein by reference as a
"redevelopment project area" as that term is defined in the Tax Increment Allocation
Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (the "Act"); and
WHEREAS, the proposed redevelopment project area contains seventy five (75) or more
inhabited residential units; and
WHEREAS, the Act requires the City to conduct a public meeting (the "Meeting") for
the purpose of enabling the City to advise the public, taxing districts having real property in the
proposed redevelopment project area, taxpayers who own property in the proposed
redevelopment project area and residents in the area as to the City's possible intent to prepare a
redevelopment plan and designate a redevelopment project area and to receive public comment;
and
WHEREAS, it is in the best interests of the City to take the actions set forth below:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ELGIN, ILLINOIS, AS FOLLOWS:
SECTION 1: The statements set forth in the preamble to this Resolution are found to be
true and correct and are adopted as part of this Resolution.
SECTION 2: Sarosh Saher, Senior Planner for the City, is hereby designed as the
municipal official who shall conduct the Meeting. Mr. Saher is authorized to set the time and
place of the Meeting without the necessity of further resolution or ordinance of the City. The
Meeting shall be held at least 14 business days prior to the mailing of those notices described in
Section 11-74.4-6(c) of the Act.
SECTION 3: Notice of the Meeting, substantially in the form attached hereto as Exhibit
B and incorporated herein by reference (the "Notice"), shall be given by mail not less than 15
days prior to the date of the Meeting. The Notice shall be sent by certified mail to all taxing
districts having real property in the proposed redevelopment project area and to all entities that
have registered with the City pursuant to Section 11-74.4-4.2 of the Act. The Notice shall also
be sent by regular mail to each residential address and the person or persons in whose name
property taxes were paid on real property for the last preceding year located within the proposed
redevelopment project area.
SECTION 4: All ordinances, resolutions, motions or orders in conflict with this
ordinance are hereby repealed to the extent of such conflict.
SECTION 5: This Resolution shall be in full force and effect from and after its passage
and approval, as provided by law. If any provision of this Resolution is held to be invalid by a
court of competent jurisdiction, then that provision shall be stricken from this Resolution and the
remainder of this Resolution shall continue in full force and effect to the extent possible.
s/ Ed Schock
Ed Schock, Mayor
Presented: September 8, 2010
Adopted: September 8, 2010
Vote: Yeas: 7 Nays: 0
Attest:
s/Diane Robertson
Diane Robertson, City Clerk
EXHIBIT A
MAP DEPICTING BOUNDARIES OF
PROPOSED REDEVELOPMENT PROJECT AREA
EXHIBIT B
NOTICE OF PUBLIC MEETING
NOTICE IS HEREBY GIVEN that the City of Elgin. Kane and Cook Counties, Illinois
(the "City") will hold a public meeting on September 28, 2010 at the City Council Chambers,
150 Dexter Court, Elgin, Illinois 60120 at 7:00 p.m. The City desires to designate certain
property within the City as a redevelopment project area (RPA) and adopt a redevelopment
project and plan for the redevelopment project area. The purpose of the public meeting is to
advise the public, taxing districts having real property in the redevelopment project area,
taxpayers who own property in the proposed redevelopment project area and residents in the area
as to the City's possible intent to designate the redevelopment project area and to adopt the
redevelopment project and plan and to receive public comment.
The proposed redevelopment project area is generally bounded by the frontage properties
along Bluff City Boulevard and the Frontage Road to north (then extending west along Bluff
City Boulevard to St. Charles Street), Gifford Road to the west, Spaulding Road to the south, and
the ComEd right of way and railroad right of way to the east. A map is attached as Exhibit A.
The purposes of designating the redevelopment project area are as follows: The proposed
adoption of the redevelopment project and plan provide for the City to implement a series of
actions to facilitate industrial, commercial and mixed-use redevelopment within the proposed
redevelopment project area. The contemplated City actions include, but are not limited to,
implementation of a plan that provides for: the attraction of investment to redevelop
underutilized properties and buildings; the construction of public improvements (including street
and sidewalk improvements; utility improvements; signalization, traffic control and lighting; off-
street parking; and landscaping and beautification); site preparation, clearance and demolition;
rehabilitation; redevelopment of industrial, commercial, and mixed-uses within the RPA, and
related professional costs. The City would realize the goals and objectives of the proposed
redevelopment project and plan through public finance techniques including, but not limited to,
tax increment allocation financing. The City is conforming with the requirements of the TIF Act
and will certify in its Redevelopment Plan that redevelopment activities will not result in the
displacement of ten (10) or more inhabited residential units.
The following is a brief description of tax increment financing:
Tax Increment Financing (TIF) allows municipalities to carry out redevelopment
activities on a local basis. The technique is used to pay for the public improvements and other
activities necessary to prepare the Redevelopment Project Area for private investment. Through
TIF, a community captures the increase in local real estate property taxes which result from
redevelopment within the RPA. This increase in taxes may be used to pay for the public costs
involved in the project.
Under TIF, the current Equalized Assessed Valuation (EAV) of all taxable real estate
within the designated area is identified by the County Clerk as of the date of the City's adoption
of the TIF ordinances. This is the base EAV. Taxes are levied on the base EAV in the RPA and
such taxes are distributed to all taxing districts including: the City, the County, school districts,
township, etc. However, the growth in property tax revenues as a result of the private investment
which increases the EAV in the RPA, the "tax increment" is then deposited into a "special tax
allocation fund". These funds are then used to pay for the public investment made in the RPA
(also referred to as the TIF District).
The City's Senior Planner, Sarosh Saher, can be contacted for additional information
about the proposed redevelopment project area by phone at (847) 931-5943 and by mail at City
Hall, 150 Dexter Court, Elgin, Illinois 60120-5555. All comments and suggestions regarding the
development of the area to be studies should be directed to William A. Cogley, Corporation
Counsel/Chief Development Officer, City of Elgin, 150 Dexter Court, Elgin, Illinois 60120.
All interested persons will be given an opportunity to be heard at the public meeting.
EXHIBIT A
MAP DEPICTING BOUNDARIES OF
PROPOSED REDEVELOPMENT PROJECT AREA
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•
EXHIBIT B
NOTICE OF PUBLIC MEETING
NOTICE IS HEREBY GIVEN that the City of Elgin. Kane and Cook Counties, Illinois
(the "City") will hold a public meeting on September 28, 2010 at the City Council Chambers,
150 Dexter Court, Elgin, Illinois 60120 at 7:00 p.m. The City desires to designate certain
property within the City as a redevelopment project area (RPA) and adopt a redevelopment
project and plan for the redevelopment project area. The purpose of the public meeting is to
advise the public, taxing districts having real property in the redevelopment project area,
taxpayers who own property in the proposed redevelopment project area and residents in the area
as to the City's possible intent to designate the redevelopment project area and to adopt the
redevelopment project and plan and to receive public comment.
The proposed redevelopment project area is generally bounded by the frontage properties
along Bluff City Boulevard and the Frontage Road to north (then extending west along Bluff
City Boulevard to St. Charles Street), Gifford Road to the west, Spaulding Road to the south, and
the ComEd right of way and railroad right of way to the east. A map is attached as Exhibit A.
The purposes of designating the redevelopment project area are as follows: The proposed
adoption of the redevelopment project and plan provide for the City to implement a series of
actions to facilitate industrial, commercial and mixed-use redevelopment within the proposed
redevelopment project area. The contemplated City actions include, but are not limited to,
implementation of a plan that provides for: the attraction of investment to redevelop
underutilized properties and buildings; the construction of public improvements (including street
and sidewalk improvements; utility improvements; signalization, traffic control and lighting; off-
street parking; and landscaping and beautification); site preparation, clearance and demolition;
rehabilitation; redevelopment of industrial, commercial, and mixed-uses within the RPA, and
related professional costs. The City would realize the goals and objectives of the proposed
redevelopment project and plan through public finance techniques including, but not limited to,
tax increment allocation financing. The City is conforming with the requirements of the TIF Act
and will certify in its Redevelopment Plan that redevelopment activities will not result in the
displacement of ten (10) or more inhabited residential units.
The following is a brief description of tax increment financing:
Tax Increment Financing (TIF) allows municipalities to carry out redevelopment
activities on a local basis. The technique is used to pay for the public improvements and other
activities necessary to prepare the Redevelopment Project Area for private investment. Through
TIF, a community captures the increase in local real estate property taxes which result from
redevelopment within the RPA. This increase in taxes may be used to pay for the public costs
involved in the project.
Under TIF, the current Equalized Assessed Valuation (EAV) of all taxable real estate
within the designated area is identified by the County Clerk as of the date of the City's adoption
•
of the TIF ordinances. This is the base EAV. Taxes are levied on the base EAV in the RPA and
such taxes are distributed to all taxing districts including: the City, the County, school districts,
township, etc. However, the growth in property tax revenues as a result of the private investment
which increases the EAV in the RPA, the "tax increment" is then deposited into a "special tax
allocation fund". These funds are then used to pay for the public investment made in the RPA
(also referred to as the TIF District).
The City's Senior Planner, Sarosh Saher, can be contacted for additional information
about the proposed redevelopment project area by phone at (847) 931-5943 and by mail at City
Hall, 150 Dexter Court, Elgin; Illinois 60120-5555. All comments and suggestions regarding the
development of the area to be studies should be directed to William A. Cogley, Corporation
Counsel/Chief Development Officer, City of Elgin, 150 Dexter Court, Elgin, Illinois 60120.
All interested persons will be given an opportunity to be heard at the public meeting.