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Home My WebLink AboutG73-85 Ordinance No. G73-85 ORDINANCE APPROVING A TAX INCREMENT REDEVELOPMENT r PLAN AND REDEVELOPMENT PROJECT IN THE CITY OF ELGIN, ILLINOIS WHEREAS, the City of Elgin, Illinois desires to implement tax increment financing pursuant to the Real Property Tax Increment Allocation Redevelopment Act, as amended, constituting Division 74.4 of Article 11 of the Illinois Municipal Code (hereinafter referred to as the "Act" ) for the proposed Redevelopment Plan and Redevelopment Project within the municipal boundaries of the City and within the proposed Redevelopment Project Area described in Section 1(a) of this ordinance. WHEREAS, the Elgin Planning Department has prepared a report entitled: "South Grove Redevelopment Plan, June, 1985" row which constitutes the Redevelopment Plan required by the Act. WHEREAS, pursuant to Section 11-74. 4-5 of the Act, the City caused a public hearing to be held and completed relative to the Redevelopment Plan and Redevelopment Project and the designa- tion of a Redevelopment Project Area at a meeting of the City Council held on September 9, 1985 in the City Council Chambers of the City Hall . WHEREAS, due notice in respect to such hearing was given pursuant to Section 11-74. 4-5 and 6 of the Act. WHEREAS, the Redevelopment Plan and Project set forth the factors constituting blight in the proposed Redevelopment Project Area, and the City Council has reviewed testimony concern- ing blight presented at the public hearing and has reviewed other eft. studies and is generally informed of the conditions of blight in the proposed Redevelopment Project Area as said term "blight" is used in the Act. WHEREAS, the City Council has reviewed the conditions pertaining to lack of private investment in the proposed Redevelop- ment Project Area to determine whether private development would take place in the proposed Redevelopment Project Area as a whole without the adoption of the proposed Redevelopment Plan. WHEREAS, the City Council has reviewed the conditions pertaining to real property in the proposed Redevelopment Project Area to determine whether contiguous parcels of real property and improvements thereon in the proposed Redevelopment Project Area would be substantially benefited by the proposed Redevelopment Project improvements. WHEREAS, the City Council has reviewed its proposed Redevelopment Plan and Project and the Comprehensive Plan for development of the City as a whole to determine whether the Al) proposed Redevelopment Plan and Project conform to the Comprehen- sive Plan of the City. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, AS FOLLOWS: Section 1. The City Council of the City hereby makes the following findings: ( a) The area constituting the proposed Redevelopment Project Area is described as follows: That part of the Southwest Quarter of Section 13 and the Northwest Quarter of Section 24, Township 41 North, Range 8 East of the Third Principal Meridian, described as follows : Commencing at the Northwest corner of the Southwest quarter of Section 13 , Township 41 North, Range 8 East of the Third Principal Meridian; thence Southerly along the West line of said Southwest Quarter, a distance of approxi- -2- , M . mately 973 . 00 feet to the Northerly right of way line of Prairie Street; thence Easterly along said Northerly right of way line, a distance of approximately 740. 00 feet to the Westerly line of H.T. Plummer' s Subdivision; thence South- easterly along said Westerly line and the Westerly line of William F. Sylla' s Resubdivision of J.T. Gifford' s Addition to Elgin, a distance of approximately 660 . 00 feet; thence Northeasterly at right angles to the last described course, a distance of approximately 40. 00 feet to the Northwest corner of the Railroad Addition to Elgin; thence Southeasterly along the Westerly line of said Railroad Addition, a distance of approximately 620. 00 feet to the Southwest corner of Lot 10 in said Railroad Addition; thence Northeasterly along the Southerly line of said Lot 10, a distance of approximately 69 . 80 feet to the Westerly right of way line of Michigan Street; thence Southeasterly along said Westerly right of way line, a distance of approximately 10. 00 feet to the Southerly right of way line of Gifford Place; thence North- easterly along said Southerly right of way line, a distance of approximately 295 . 00 feet to the intersection of said line with the Easterly right of way line of Raymond Street; thence Southeasterly along said Easterly right of way line, a distance of approximately 550. 00 feet to the intersection of said line with the Southerly right of way line of National Street; thence Southwesterly along said Southerly right of way line, a distance of approximately 475 . 00 feet to the Northeast corner of Block 1 of Sherman' s Addition to Elgin; thence Southeasterly along the Easterly line of said Block 1 being a curve to the right, a distance of approximately 846. 50 feet; thence Southwesterly parallel with the Northerly line of said Block 1, a distance of approximately 250. 00 feet; thence Southeasterly at right angles to the last described course, a distance of approximately 70. 00 feet; thence Southwesterly parallel with the Northerly line of said Block 1, a distance of approximately 323 . 80 feet; thence Northwesterly along a line that forms an angle of 91 degrees, 00 minutes, 00 seconds to the left with the prolong- ation of the last described course, a distance of approximately 915 . 00 feet to the Southerly right of way line of National Street; thence Southwesterly along said Southerly right of way line, a distance of approximately 150. 00 feet to the East bank of the Fox River; thence Northwesterly along said East bank of the Fox River to the West line of the Southwest Quarter of Section 13 , Township 41 North, Range 8 East of the Third Principal Meridian; thence Northerly along said West line, a distance of approximately 110 . 00 feet to the place of beginning. All the above being situated in Elgin Township, City of Elgin, Kane County, Illinois . (b) There exist conditions which cause the area proposed to be designated as a Redevelopment Project Area to be classified 41/ as a "Blighted Area" as defined in Section 11-74-4-3 ( a) of the Act. (c) The proposed Redevelopment Project Area on the whole has not been subject to growth and development through investment by private enterprise and would not be reasonably anticipated to be developed without the adoption of the Redevelop- ment Plan. (d) The Redevelopment Plan and Redevelopment Project conform to the Comprehensive Plan for the development of the City as a whole. (e) The parcels of real property in the proposed Redevelopment Project Area are contiguous and only those contiguous parcels of real property and improvements thereon which will be substantially benefited by the proposed redevelopment project improvement are included in the proposed Redevelopment Project Area. (f) The estimated date for final completion of the Redevelopment Project is September 1, 2008. (g) The estimated date for retirement of obligations incurred to finance Redevelopment Project Costs is not later than September 1, 2008 . Section 2 . The Redevelopment Plan and Redevelopment Project presented at this meeting and on file in the office of the City Clerk are each hereby adopted and approved. Section 3 . This ordinance shall become effective in All the manner provided by law. -4- C • Adopted this 9th day of September, 1985 by roll call vote as follows: Ayes: Councilmen Andersen, Gilliam, Moylan, Van De Voorde, Waters and Mayor Verbic. Nays: None Absent: None Abstained: Councilwoman Shales Approved: September 9 , 1985 s/ Richard L. Verbic Mayor (SEAL) epik Attest: s/ Marie Yearman City Clerk CT/trl #13815 8/23/85 -5- CERTIFICATE 41, I , Marie Yearman, City Clerk of the City of Elgin, Illinois, hereby certify that the foregoing ordinance entitled: "Ordinance Approving a Tax Increment Redevelopment Plan and Redevelopment Project in the City of Elgin, Illinois, " is a true copy of an original ordinance which was duly adopted by the recorded affirmative votes of a majority of the members of the City Council of the City at a meeting thereof which was duly called and held at 8: 00 p.m. on September 9, 1985 in the City Council Chambers at the City Hall, and at which a quorum was present and acting throughout, and that said copy has been compared by me with the original ordinance signed by the Mayor, and recorded in the Ordinance Book of the City and that it is a correct trans- cript thereof and of the whole of said ordinance, and that said ordinance has not been altered, amended, repealed or revoked, but is in full force and effect. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the City this 9thday of September 1985 . s/ Marie Yearman City Clerk (SEAL) -6-