Loading...
HomeMy WebLinkAboutG1-02 Ordinance No. G1-02 AN ORDINANCE AMENDING CHAPTER 17 . 04 OF THE ELGIN MUNICIPAL CODE, 1976, AS AMENDED, ENTITLED "CALCULATIONS" WHEREAS, Section 17 . 04 . 070A of the Elgin Municipal Code, 1976, as amended, provides for a fair market value of land in and surrounding the city for the purposes of calculating development impact fees for school sites and park sites, and the credit for land dedication for water system capital improvements; and WHEREAS, the City of Elgin has obtained an appraisal report in order to determine the current the fair market value of land in and surrounding the city; and WHEREAS, the City of Elgin is a home rule unit and may exercise any power and perform any function pertaining to its government and affairs; and WHEREAS, determining and establishing the fair market value of land in and surrounding the city for the purposes of development impact fees for school sites and park sites, and the credit for land dedication for water system capital improvements pertains to the government and affairs of the City of Elgin. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS : Section 1 . That Section 17 . 04 . 070A of the Elgin Municipal Code, 1976, as amended, entitled "Determination of Land Value and Distribution of Fees" be and is hereby further amended by amending Subparagraph A thereof to read as follows : "A. Determination of Land Value : The development impact fees for school site and park site, and the credit for land dedication for water system capital improvements shall be based on the fair-market value of an acre of land in the area improved as specified in this Chapter. It has been determined that the present fair-market value of such improved land in and surrounding the City is sixty thousand dollars ($60, 000 . 00) per acre . The land value shall be adjusted upward at an annual rate of six percent (6%) effective January 1, 2003 and annually thereafter. The land value shall be used in making any calculation in this Chapter unless the subdivider or developer files a written objection thereto. In the event of any such objection, the subdivider or developer, at his or her own cost, shall obtain and submit an independent appraisal from an MAI designated appraiser eindicating the fair-market value of such improved land in the area of the proposed development . Final determination of said fair-market value per acre of such improved land shall be made by the City Council in its sole discretion based on such information submitted by the subdivider or developer and from other sources which may be submitted to the City Council by the school district or others . " Section 2 . That all ordinances or parts of ordinances in conflict with the provisions of this ordinance be and are hereby repealed. Section 3 . That this ordinance shall be in full force and effect upon its passage and publication in the manner required by law. t2Z3C,Sos . Ed Schock, Mayor Presented: January 9, 2002 Passed: January 9, 2002 Omnibus Vote : Yeas : 7 Nays : 0 Recorded: January 10, 2002 Published: January 11, 2002 Attest : Dolonna Mecum, CitY Clerk CITY OF ELGIN 1 ORDINANCE NO. G1-02 AN ORDINANCE AMENDING CHAPTER 17.04 OF THE ELGIN MUNICIPAL CODE, 1976 AS AMENDED, ENTITLED "CALCULATIONS" PASSED BY THE CITY COUNCIL OF THE CITY OF ELGIN ON THIS 9TH DAY OF JANUARY 2002 r Published in pamphlet form by authority of the City Council of the City of Elgin, Kane and Cook Counties, Illinois, on this 11th day of January 2002. ti STATE OF ILLINOIS ) ) ss. COUNTY OF KANE ) CERTIFICATE I, Dolonna Mecum, certify that I am the duly appointed and acting municipal clerk of the City of Elgin, Cook and Kane Counties, Illinois. I further certify that on January 9, 2002, the Corporate Authorities of such municipality passed and approved Ordinance No. G1-02, which provided by its terms that it should be published in pamphlet form. The pamphlet form of Ordinance No. G1-02, including the Ordinance and a cover sheet thereof, was prepared, and a copy of such Ordinance was posted in the municipal building commencing on January 11, 2002, and continuing for at least ten days thereafter. Copies of such Ordinance were also available for public inspection upon request in the office of the municipal clerk. DATED at Elgin, Illinois, on January 11, 2002. A9-414,44L__ Municipal Cler (SEAL)