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HomeMy WebLinkAboutG49-17 Ordinance No. G49-17 AN ORDINANCE AUTHORIZING EXECUTION OF A REAL ESTATE SALE CONTRACT WITH PEDRO LEGUIZAMO, FOR THE PURCHASE OF 918 DUNDEE AVENUE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that Richard G. Kozal, City Manager, and Kimberly A. Dewis, City Clerk,be and are hereby authorized and directed to execute a Real Estate Sale Contract on behalf of the City of Elgin with Pedro Leguizamo regarding the City's purchase of the property commonly known as 918 Dundee Avenue for $55,000, a copy of which is attached hereto and made a part ereof by reference. z0f, David J. Kapt m, M or Presented: December 20, 2017 Passed: December 20, 2017 Omnibus Vote: Yeas: 9 Nays: 0 Recorded: December 20, 2017 Published: December 21, 2017 - r. Attest: imberly Dewis, City Clerk: ` o ' Ordinance No. G49-17 AN ORDINANCE AUTHORIZING EXECUTION OF A REAL ESTATE SALE CONTRACT WITH PEDRO LEGUIZAMO, FOR THE PURCHASE OF 918 DUNDEE AVENUE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS,that Richard G. Koza1, City Manager,and Kimberly A. Dewis, City Clerk,be and are hereby authorized and directed to execute a Real Estate Sale Contract on behalf of the City of Elgin with Pedro Leguizamo regarding the City's purchase of the property commonly known as 918 Dundee Avenue for $55,000, a copy of which is attached hereto and made a part hereof by reference. s/David J. Kaptain David J. Kaptain, Mayor Presented: December 20, 2017 Passed: December 20, 2017 Omnibus Vote: Yeas: 9 Nays: 0 Recorded: December 20, 2017 Published: December 21, 2017 Attest: s/Kimberly Dewis Kimberly Dewis, City Clerk Draft 10/6/17 REAL;ESTATE SALE CONTRACT 1„ Agreement to Purchase. Pedro Leguizamo ("Purchaser") agrees•to purchase at,a price.of Fifty.five Thousand Dollars ($55,000), on.the terms set forth'herein, certain real estate and :all .improvements thereon and appurtenances thereto, such real estate consisting: of the property commonly known a 9 I Dundee Avenue; Elgin; Kane County, Illinois 60120; _Permanent: Index N er -12-3 6�- , e legal description thereof being-set forth on "Exhibit A"' attached hereto se )iergin by this reference (such real estate improvements thereon arid•appurtenances thereto are hereinafter collectively referred_:to as the. ' 'Real Estate"). 2. Agreement to,Sell. The City-of Elgin'--_-'-M* ' is-municipal corporation;'as owner- of record.of the Real Estate("Seller") agrees to sell the Real Estate described above•.af.the priix and terms set foitti:hei`ein,and to convey or'cause to be:conveyed`to Purchaser title thereto by a recordable warranty deed, with release of homestead rights, and subject.only to:encroachment_of building,located mainly on property north and adjoining onto the land by appioximately .52 of a foot,- encroachment .of concrete retaining wall.located on the land onto property south:and adjoining-by approxinmately;35 of a foot, 'and genie and general real estate taxes'fo_r,the:year 2017-and subsequent-years. - 3. Payment Structure. :Purchaser _shall- pay Five Thousand'Dollars ($5;o00) as earnest money ("Earnesf Money") to be tendered by the Purchaser-to the Seller. within'fve'(5) days folldwing_the'entry•into_and,execution of this Contract. Purchaser shall pay the balance of the purchase price,plus or.minus proratid&, at the'Closing. 4. Survey. Not less than ten (10) days prior to the Closing, Seller, at its.own F expense, agrees: to furnish 'Purchase_r a plat- of survey of the. Real Estate:dated.within six (6) months 'of the Closing, .prepared by an Illinois pkofessiondl land_ surveyor, showing any encroachments, measurements`of all.lot lines,_all easements of record; building.-setback�liries-of: -- - record, fences, all:buildings and other improvements-on the.Real.Estate acid distances therefrom ' to.the-nearest two lot lines. In addition, the:survey to be provided shall•tie a boundary survey conforming to the current requirements of the Illinois Department,_of Professional Regulation. The survey shall show.all corners staked and flagged or otherwise•monumented. The survey shall'have the following statement prominently appearing near the professional land surveyor's seal and signature: "This professional service conforms -to the current- Illinois minimum ...standards fora boundary survey."- 5.- Closin : The time of Closing ("Closing"or"Closing Date")shall be on or before =4 A A/ A, — , 261!, or such other-date as may hereafter be agreed to by the parties, or on the date, if any,lo which such time is extended by reason-of Section-8 hereafter becoming operative. Unless subsequently mutually agreed otherwise, Closing shall take place at the office of the Escrowee (as hereinafter: defined), provided title-is shown to be good or is accepted by-Purchaser. II & Commissions. Seller And.Purchaser each warrant to the other they have dealt with no real estate brok6f-in Wiffiecii-On with this trans_action. Each pdfty agrees.to indenuiffy; hold harmless and•defend.the other party from any loss, costs, damages or.... expense. (including' reasonable attorney's fees) arising out of a bridakh of the makrantycontainedin this section. 7. :Title. Seller shall deliver or cause to be 'delivered to Purchaser or Purchaser's. ag6rit,,not less 1:than-ten(10) days-prior to the Closing, au-SbIlees..expense,*a t1de commitment for. '_0!_O.ALTA owner's title'insurance policy A issued by C-h--t a gQ.T-_jd .e. .jns&. =66 Company y C1ioe*Companyl-'),ib-th-e-amount of�the,p&thUe.prce-and-inclu4i4g extended: overage-ov erAhe covering;title to 6--_ dr-after,the date le&�generdl exceptions"5Q-cal 6 the PdbcV, ft,R�al-Estate n the title exceptions set fba.'in. hereof;sh6tving.title-in Ae in,t,dndod., Or subject only to p Section 2 above,, (b tt exceptons p qrtak to B&ns Or encumbrances of a definite or ascertainable amount which may be removed by the. payment of money at:the time of Closing paid delivery at-that time b pai upon-the.d and v�hicjithe Seiller shall so.remove y using the funds to be .9fithe 4eed, (c)._adts of Purchaser and all parties.acting 1hrough.&•`fbf Purchaser_ And -zoning— laws, Statutes and At Closing, $e�116r,-also-shall-.furnish Piireha:ger-an affidavit 6,f-title in Ittistdihary form covering the date of'Ce losing and showing--.tide in Seller•subject only to the Pdrml(t6d Exceptions. 8: Title.Clearance: If the title commitment or plat of survey discloies either unpermlited exceptions or matters thAt' -f-e-nde-t. the title 7not in- conformance with the- provisions of this Contratt (hereili rdf6tred.to as "survey defe.cts"), Seller shaUhave thirty'(30) days from the.M6-d*liveq' t:hereof,to have the exceptions removed ed fro m.the commitment or to have the-Title Company fo 6dirat such survey efects-on. if Purchaser so' P y ap pyoves in-writing, commit to:insure_against r damage thk riiay�'b d'occasioned.by such exceptions-.or survey loss o damag - ­ and-in such eevent, the.-time.of Shall be twenty`(20) days after the delivery of the commitment -th-e'-time e­ -Which— is later. if Wafails o or xpfe�sly specified in Section S hereof; ever to have the exceptions removed:or correcVan survey defects, or. ih.the altemative.,t6 obtain they y - . e C mmitment, for-title insurance. specified above as- to su--ch.exceptions or survey defects (if A within the ;,Purchaser. may terminate this. Purchaser. so appr9yes in writing) Wi _,_.spedifidd-time, t 'Contract or,lhdy--616d, upon notice to 8eller'within..'en (.10) days-@#er the expiration of thd-.30- day-' en6d. to as:it then with the-ri A6 deduct-from,the purchase price.liens- of P .1 - - - - - - I e ­ . ,_ght 6ricumbrances of a definite or ascertainable amount.-ff Purchaser does riot.so elect, this Contract shall become null and-void-Witti6ut-furthdr-actibns-bf the parties.- In the-event:this.Contract ig-so- termin��ted P_ &suiint to this'section, Purchaser's urcbaser's ea_­mest money deposit 0aid-to the StIler shall be refunded to Purchaser. 9. Proration. General taxes shall be•adjusted•ratably as-of the time of-Closing, -'If the amount of-the current general taxes is.not then ascertainable, the adjustment-thereof,, except for didt amount which may accrue.by reason,of new improvements, shall be on the basis.of 105% of thd amount of•the most recent ascertainable taxes, subject to reproratibin when the amount thereof becomes ascertainable. Sdfl&i shall pay the amount of any Stamp tax imposed by state or county law of locai ordinance on the transfer of title, if any, and furnish a completed Real Estate TranSfef Declaration:signed by Seller or Seller's ageni.in the form required pursuant to the Real Estate,Transfer Tax Ac.t of the State of Illinois, and shall figni§h-anY declaration signed by Seller 2 or.Sellers agent or meet other requirements as established by any county or local ordinance with regard to a transfer°or transaction tax, 10.- Condition of the ,.Real_-Estate,-at. Closing: Seller agrees and shall deliver to Purchaser at Closiiig possession'of the Real Estate-including but not lirYUted to all:improvements thereon: and appurtenances: thereto in tfie same condition as it is at.the date of`this Contract; ordinary wear°and"tear excepted. _ As.Is Covenant.Noi To Sue,-Except-as otherwise expressly.provided herein:- - -=-- A. The Seller agrees and shall deliver to the Purchaser at Closing possession,oUthe. ti Real, Estate including-�but- not, .limited fo all improvements thereon- and appurtenances there o,in"AS IS" condition, subject to the :provisions:of Section v .l Q hereof. _ - B. parties hereto further understand and agree that,the Seller shall- have no responsbi]ity for any.:response or .corrective actions or remediation of,-any Environmental Condition ,(as- hereinafter:defined)_at,.on;:under or about.the Real, Estate and that the Purchaser hereby waives and releases any claim for contribution against, and covenants not•to sue.the Seller, or the. Seller's former; ,current and.fi ture.officials, officers, employees;agents;.attorneyp, heirs,- ersonal representatives; successors:or assigns; whether- assefted-directly or,iridirectly,,or- whether.in the nature of h action`for contribution; third, arty proceeding:or other - - action oi proceeding:whatsoever, fof all. damages:including; without-limitation; punitive'darriages, liabilities, costs; losses; diminutions in value, fin_es; penalties, demands,- claims, cost'recovery actions; lawsuits,: administrative proceedings; orders,-response action costs, compliance cost; investigation,ezpense"s, consultants fees, attomeys.fees, paralegal'fees and.litigation expenses (collectively"Claims''), arising out of or'in-connection with any Environmental Condition (as hereinafter defined) on.the Real Estate or-its migration to any-other site of location or:ansing out of-or in connection.with.any'Environmental.Law-(as-hereinafter defined). C. ;.-The Purchaser hereby acknowledges and agrees that Purchaser is purchasing.the Real Estate-in its"as is" and"where,is" condition and that, as of the Closing; the -Purchaser will be purchasing ihe. Real 'Estate' with no direct recourse or direct fights.-of action against the Seller or- the Seller's former, current and future officials, officers, employees, agents, attorneys, heirs, personal representatives; successors or-assigns. D. The Purchaser for himself and his successors, assigns and grantees, hereby coyeriants and agrees that in consideration of this Contract, neither:the Purchaser nor his successors or assigns shall directly or indirectly sue the Seller or the Seller's former, current and, future officials, officers, employees, agents, attorneys, heirs, personal representatives, successors or-assigns for-any Claims with respect to, or arising out of any Environmental Condition (as hereinafter def ned) or any other condition of, or situation existing with respect to the.Real 3 Estate or anyEnvironmiental Law (as .hereinafter defined). The covenant and agreement of-the-Purchaser as set forth•,in the preceoijag sentence shall hereinafter be called the '"Covenant Not to Sue". The parties,hereto.iffiderstiffd and agree that The Purchaser's Covenant Not ,to Sue the S6116-r. as stated herein dqes.,not apply to,any action taken by the Purchaser;to enforce any contractual.obligations .9f the -Seller as may be -s-p-e-cit-calIFy- set forth in this Contract and does not constitute an-indemnity agreement between the parties and that the Sell& retains any lia6ffiy -ii may have'for claims y"third-P e nclu d i -buf-p6t- hed to-any governmental agencies, pr6Vide4_,._hOwq, er_thatjhe Purchaser diiins against agr ees not to assign any.., aijigfthe Seller or the Seller's former, current and d -future officials, officers, employees, Agents, Attorneys, Mus, personal representatives,successors and assi gns.-o any t thiid'Pirties. E. "Environmentad Condifionl-' .shaLfl..ftiean-anyl,cofidi rior situations-existing! on, 4q �,-_ situations- .. . at or abciut,theJtdallstaw, any improvpments. ,th.ereoii,,.the,groundwater,. T sUbsur&dew. Atei,And/or the�undeigrounld soil And gqqlqgic:cohditio' m thereunder,_ as-.of thd,,datp of the:execution of-this Contract which.(i)-constitutes.a.vi6 atii on - An State of Illinois or federal environmental law, reguiAton or ordinance and/or f (ii) which-does or might,form the.baks'of Any pub�jip:or private -actio-n,f6rthd%tie;inttIY6r-rtniddiation as a-resulf.of the release, threatened release, migration'grdtiQii or the existence of- an contaminants, pollutants, petroleum And hi. - Y petroleum bypTQd4ctsj crude oil any fractidn thereof; chemicals. wastes,•or substance (including,. without Iih-iitAtiQnI reguktqd- substances and hazatdous wastes: and hazardous substancesm as such terms are commonly used and understood within the framework of existing fedefAl-and_ llino.is environmental laws and regul a4ojp)'4nd/9 r A.release Or 4 threat of release of hazardous substances or hazardous waste, and/or (iv) are described or�includedjn any.repdrt Orb-video by the Seller to the Purchaser or in an y report generated by the � Purchaser's Epviionmental Invesfikati6ns of the Real Estatd. F. "Real Estate" shall me-an the property,described,on Exhibit A attached hereto, any a n d all improvements thereon, and the soils; subsoils, gwlogi c-fornatiois and. ;groundwater,on and."Under such property. G_. 'kEnvironmentdl LAW shall meah.any federal or state law-,statute,..regulatiop,rule, order, decree, judgment or direction concerninp, environmental protection or environmental health and safety including- without limitation, commo-n-law, the --------compTfhensive-Env.ironmentaI-.-Response, Compensation and--Li dbility.-Act. of------ 1980 e A , Asamended, the Resource, Conservation and Recovery Act, as amended, the Toxic Substances Control Act, as amended, and the Illinois Environmental Protedtioh Adt,as amended, H. "The Seller'? shall mean the City of Elgin and the City's former, current and future officials, officers, employees, agents., attorneys, heirs, personal representatives, successors, assigns And-grantees. 4 I. The provisions of*s,-Section 11 shall.be deemed-remade as of the.Closing,and. shall survive the-Closing and shaH not-be-rh ergedlifitb the closing documents. 12. Closinp,-Documents. In addition to-the deed, survey, affidavit-of title, transfer, declarations and'other- docWh6fits de§cribed-iti.this-Coiitract;,Seller shall.deliver-or, cause to.he deliverdd to Pur-c-haser'-At.CI6si is*th.e,.f6flowing- (a) an ALTA,statementlsigned by'Sellef; (b) a title policy,or-marked-uD.commitment in-the amoudtbf the.-purchase'phidd, dated on the. Clos'ing Date--.insuring title in Purchaser or Purch,S&Vs-,ngIIllilee in the condition required under-Section 7 Olat-Act,Affidavit if.applicable;--pd- (d) a closing statement-and such other,docuinents.as.customarily mquired.by the Title Company. 13. Default: Seller and Purchaser a that; in.the.event of a.default-by either' party grpq at-, the, other party sffiaI prior to talang any such action as may be available to it. provide-writien notice to ibe--defaui"g party stating that they are giving the defaulted part y thirty (30) days If-flit default shall not be--cured within the thirty(30) d within which cure t�Udh ays prior dbrdsakL the. party giving'such-notice shall be permitted to• avail itself of rdmiddies to which it m -entid4' .4y p under this Contract. 44. Remedies. In the event,that either part us out its obligations _y,fails or refuses to carry gati under this,Cjoh� '6e other part available legal remedies s- Ait"law or y sW be free to pdrsue any avail I I in equity. 15. Escrow. This side shall be closed through an escrow(the"Escrow.")with Chicag iide,and Tq!st C accordance with the Alfe Deed and- 't- ­ provisions :of' qyvqS�),, in acco Money Escrow A ment then in-use 6��:Esc Wee With.such special prbvisi6ds'ihsefted in the grele -ro escrow agreement as may be-:required to conform with this Contract. Up6n the,creation of such Escrow;:payment Of the-purchase-price:and deliverv,of-deed,shall. thp,EsGro' w and ihe,earnest -money shall be-deposited in the Escrow. *The cost of the Ekto-W and any so- called "New York Style" closingfiee shall be divided equally between Seller and Purchaser. Purchaser and- Seller shall make all deposits into the escrow in a timely manner to permit the --Escro-weeto.diiburse.the.E§dtowon.thd-Closing.Date. 16. Time. Time is of the essence of this Contract. 17. Manner of Payment. Any payments herein required to be made at the time of Closing shall be made in goodfunds as provided by law and required by the escroWee. 18. Notices. All notices herein required.shall be in writing and.shall be served on the parties at the addresses following their signatures.. The mailing of a notice by registered or 5 certified_ mail,,return receipt requested; or:personal delivery by courier service shall be sufficient service. Notices may also'.be served on the attomeys-for the parties-via a-mail. 19. Interpretation. This:Contract shall be construed, and.the.rights-and.obligations of Seller and.Purchaser hereunder; shall be determined in;accordance with the'-laws of the State-of Illinois without reference to its conflict of laws riles. 20. -:Failure td-Enforce-Provisions: The failure-by a-party to enforce any provision.of this C-onirac_against the other,party-shall,not be deemed:a waiver of the:right to:do so.'tfiereafter. 21. Amendments. This ContradUrnAy be..modified or amended only in-writing signed by the'pardeshereto, orz.their permitted successor or assigns, as case may be. 22_ - Entire Agreement This Contract-.contain the entire-agr.,ement=and:understanding- of.the parties 'herein, all prior-agreements and undertakings having been..;merged;-herein and., 6ktinguished hereby. 23. Joint=and Collective Work Product. This. Contract. is and shall be:deemed and construed to be a joint-and collective work product of t}ie Purchaser-and the.Seller, arid,as sucfi, _ . this.Contract shall not be construed against-the other.party; as the.otherwise,purported draftert of. same; by any court of'compeient-jurnsdiction th order to•resolve,any inconsistency; ambiguity; v_agueness'or-conflict,.if any;and the terms or.provisions contained:herein. 24-. 1 Assienment. This Contract "shall be binding on the. parties hereto and their respective successors and permitted. assigns. This.Contract and the obligations,hereunder may not be assi lined-without the�express written consent of each:of"t_he parties hereto. 25. Uniform Vendor and.Purchase_Risk.Act. The parties agree that.the:provisions of the Uniform Vendor and Purchase Risk Act of the State of Illinois (765ILCS 65%1 et:seq.)_sfiall be applicable to this;Contract: 26. Inspection. Seller and Purchaser further agree as follows: A. - The.-obligation of Purchaser'-to-purchase the-Real Estate pursuant-to this,-Contract is subject to-and contingent upon.the condition precedent that Purchaser.shall have found the - condition .of the Real Estate, 'including the environmental condition, to be acceptable to the' Purchaser following the performance of such investigations and/or testing on the Real Estate as - -the.P,urchaser may'elect.to-perform.at.Purchaser_s.sole.expense._ B. Purchaser may perform inspections of the Real Estate,_ including environmental inspections, that Purchaser-elects to perform and shall complete same-witlin-thirty (30) days of the entry into and execution of this Contract- (with such date of entry and execution being the date of the adoption of the resolution by the city council of the Seller authorizing execution of this Contract). Seller hereby agrees to allow Purchaser and:its agents and contractors reasonable access to the Real Estate to conduct such inspections:including, but not limited to, subsurface investigations. The-Purchaser,agrees to reasonably,restore the Real Estate after the inspections, 6 rernove any waste.generated'in such inspection process and indemnify,defend and hold Seller harniless fiom. any liability, Joss, claim,, cost or expenses pertaining to.any°bodily injury or property damage'arising ou t of the Purchaser's performance of the inspections of the Real Estate. C. 'A -full and.complete copy of any reports or other; documents received by the Purchaser and containing the test.data, findings, an conclusions d,recommendation of the party - - perfohniAg,such,inspections of the, Real Estate shall,be-.promptly pro vtded by the Purchaser to the Seller. D: If the Purchaser determines,,in Purchaser's sole discretion,_that the Real Estate-is unsuitable-'for-'.acgusition:by the Purchaser; the Purchaser,may; at Purchaser's written election delivered:-to the Seller not later than thirty:(30) days aker'the entry into and.execution ofahis- Contract, declare this Contract null and void whereupon this Contract shall deemed. terminated, null:and-void and-vnithout-:further-obligation of-the-parties hereto:- nAhe event-this Contract'is°so terminated..pursuant to this section.-Purchaser's.eamesI-money deposit`paid to.;the' Seller shall be refunded to--Purchaser.; If, such written notice,his not -seined within the...time specified,. Purchaser shall.be deemed to have waived this contingency and Purchaser shall be deemed to have°electedao proceed with the purchase of-'the Real Estate pursuant;to the.ter_m_ s of this Contract:and.this-Contract'shall remain:.in full force and effect. DATED: 2017. `. . CHAS SELLER: IM I CITY OF ELGIN P •By: ity IVlanager - - - .-- Ajtes, : Cify.Qle U - 910 Dundee Avenue 150 Dexter Court. _._Elgin,_lllinois.6.0.120. - - Elgin,.Illinois:60120-5555.- ---- --- Attention: City Manager With a.copy of any notice to: With a.copy of any notice to: William A. Cog_ ley, Corporation Counsel City of Elgin 150 Dexter Court Elgin,IL 60120-5555 F:U.egal Dept\Real Estate\RE-Sales Contract-918 DundeeAve-10-6-17Am 7 EXBI BIT-A Lot 9 in Block l of Giand View Addition to Elgin, in*the City of Elgin', Kane County, Illinois. 8 NOTICE PUBLIC NOTICE is hereby given that the City of Elgin, Kane and Cook Counties, Illinois, is considering entering into a proposed contract with Pedro Leguizamo for the sale of the property owned by the City of Elgin commonly known as 918 Dundee Avenue, Elgin, Kane County, Illinois 60120, Permanent Index Number 06-12-253-012, located in that certain City of Elgin Tax Incremental Redevelopment Project Area heretofore approved by the City Council of the City of Elgin on April 10, 2002, and known as the Elgin Center Area Tax Increment Financing Redevelopment Area. Copies of the existing Redevelopment Plan and Project relating to said City of Elgin Tax Incremental Redevelopment Project Area and said proposed contract for the sale of the property are available for public inspection at the office of the City. Clerk of the City of Elgin, City Hall, 150 Dexter Court, Elgin, Illinois 60120 during normal business hours from and after the date of this publication. All interested parties are invited to make alternative proposals for the purchase and development of said property owned by the City of Elgin. Such proposals must be submitted in writing to the City of Elgin, City Hall, 150 Dexter Court, Elgin, Illinois 60120 to the attention of the city's Corporation Counsel on or before December 15, 2017. This notice is published pursuant to the requirements of the Tax Increment Allocation Redevelopment Act of the State of Illinois, as supplemented and amended. Kimberly A. Dewis City Clerk City of Elgin Kane and Cook Counties, Illinois JTY# ILL. 2002KOB9994 2M2jjjL22 Ali 11: 30 RECORDER State of Illinois ) County of Kane) ss. City of Elgin ) CERTIFICATE OF CITY CLERK I, Dolonna Mecum, DO HEREBY CERTIFY that I am the duly qualified City Clerk of the City of Elgin, in the Counties of Kane and Cook in the State of Illinois, and that as such City Clerk I am the keeper and custodian of the files and records of said City of Elgin and the seal thereof. I DO FURTHER CERTIFY that the attached is a full, true, and correct copy of: ORDINANCE NO. S2-02 AN ORDINANCE APPROVING THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PLAN AND PROJECT passed by the Elgin City Council at its legally convened meeting held on April 10, 2002 In Witness Whereof, I have hereunto set my hand and affixed the corporate seal of the City of Elgin at the said City in the County and State aforesaid this April 11, 2002 City Clerk This document prepared by: William A. Cog'ley After recording return t City of Elgin Elgin City Clerk (SEAL) 150 Dexter Court 150 Dexter Court Elgin, IL 60120 Elgin, 60120 p Mi l Ordinance No. 52-02 AN ORDINANCE APPROVING THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PLAN AND PROJECT WHEREAS, the City of Elgin, Illinois (hereinafter referred to as "City" ) has heretofore determined that the stable economic and physical development of the City is endangered by the presence of blighting and conservation factors, with a resulting decline of the City which impairs the value of private investments and threatens the sound growth and the tax base of the City and the taxing districts having the power to tax real property in the City (the "Taxing Districts") and threatens the health, safety, morals and welfare of the public; and WHEREAS, the City has heretofore determined that in order to promote and protect the health, safety, morals and welfare of the public, blighting and conservation conditions in the City must be eradicated and that redevelopment of the City be undertaken; and that to remove and alleviate adverse conditions in the City it is necessary to encourage private investment and restore and enhance the tax base of the City and the Taxing Districts by such redevelopment; and WHEREAS, the City has heretofore caused to be conducted an eligibility study to determine whether the proposed Elgin Central Area Tax Incremental Financing Redevelopment Project Area (the "Proposed Area") qualifies as a "redevelopment project area" pursuant to the Tax Increment Allocation Redevelopment Act at 65 ILCS 5/11-74 .4-1, et seq. , as amended, (the "TIF Act" ) , which study was conducted by Trkla Pettigrew Allen & Payne, Inc . ( "TPAP" ) ; and WHEREAS, the City has heretofore evaluated various lawfully available programs to provide such assistance and has determined that the use of tax increment allocation financing is necessary to achieve the redevelopment goals of the City for the Proposed Area; and WHEREAS, TPAP is a planning and financial services firm having a national reputation for expertise in tax increment allocation and redevelopment financing in the State of Illinois; and WHEREAS, TPAP has heretofore concluded and has advised the City that the Proposed Area qualifies as a "redevelopment project area" under Section 11-74 . 4-3 of the TIF Act ; and 'L WHEREAS, the City has further caused the preparation of and made available for public inspection a proposed redevelopment plan and project for the Proposed Area (the "Plan" and "Project" ) ; and WHEREAS, the Plan and Project sets forth in writing the program to be undertaken to accomplish the objectives of the City and includes (1) estimated redevelopment project costs proposed for the Project Area; (2) evidence indicating that the Proposed Area on the whole has not been subject to growth and development through investment by private enterprise; (3) an assessment of the financial impact of the Area on or any increased demand for services from any taxing district affected by the Plan and any program to address such financial impact or increased demand; (4) the sources of funds to pay costs; (5) the nature and terms of the obligations to be issued; (6) the most recent equalized assessed valuation of the Area; (7) an estimate as to the equalized assessed valuation after redevelopment and the general land uses to apply in the Area; (8) a commitment to fair employment practices and an affirmative action plan; (9) and the Plan and Project accordingly comply in all respects with the requirements of the TIF Act; and WHEREAS, pursuant to Section 11-74 .4-5 of the Act, the City has heretofore called a public hearing (the "Hearing" ) relative to the Plan and Project and the designation of the Proposed Area as a development project area under the TIF Act, and fixed the time and place for such Hearing, being the 13`h day of March, 2002 at 7 : 00 p.m. , at the City of Elgin, City Hall , 150 Dexter Court, Elgin, Illinois; and WHEREAS, due notice in respect to such Hearing was given pursuant to Section 11-74 .4-5 of the TIF Act ; said notice, together with a copy of the Plan and the name of a person to contact for further information being given to taxing districts and to the Department of Commerce and Community Affairs of the State of Illinois by certified mail on January 24, 2002 , by publication on February 24, 2002 and March 6, 2002 and by certified mail to taxpayers within the Proposed Area on February 22, 2002 ; and WHEREAS, the City has heretofore convened a joint review board as required by and in all respect in compliance with the provisions of the TIF Act; and WHEREAS, the joint review board has met at the time as required by the TIF Act and has reviewed the public record, planning documents and a form of proposed ordinance approving the Plan and Project; and WHEREAS, the joint review board has adopted by a majority vote an advisory, non-binding recommendation that the City approve the 3 implementation of the Plan and Project and designate the Proposed Area as a redevelopment project area under the TIP Act; and WHEREAS, the joint review board based its decision to recommend the approval of the proposal on the basis of the Proposed Area satisfying the eligibility criteria defined in Section 11- 74 .4-3 of the TIP Act, all as provided in Section 11-74 . 4-5 (b) of the TIP Act; and WHEREAS, the City held the Hearing on March 13 , 2002 at 7 : 00 p.m. , at the City of Elgin, City Hall , 150 Dexter Court, Elgin, Illinois; and WHEREAS, at the Hearing any interested person or affected taxing district was permitted to file with the City Clerk written objections and was heard orally in respect to any issues embodied in the notice of said Hearing, and the City heard and determined all protests and objections at the Hearing; and WHEREAS, the Hearing was adjourned on the 13`h day of March, 2002; and WHEREAS, the Plan and Project set forth the factors which cause the Proposed Area to be a conservation area, the City has reviewed the information concerning such factors presented at the Hearing, has reviewed other studies, and is generally informed of the conditions in the Proposed Area which could cause the area to be a "conservation area" as defined in the TIP Act; and WHEREAS, the City has reviewed evidence indicating that the Proposed Area on the whole has not been subject to growth and development through investment by private enterprises and has reviewed the conditions pertaining to the lack of private investment in the Proposed Area to determine whether private development would take place in the Proposed Area as a whole without the adoption of the proposed Plan; and WHEREAS, the City has reviewed the conditions pertaining to real property in the Proposed Area to determine whether contiguous parcels of real property and improvements thereon in the Proposed Area would be substantially benefitted by the proposed Project improvements; and WHEREAS, the City has made an assessment of any financial impact of the Proposed Area on or any increased demand for services from any taxing district affected by the Plan and Project and any program to address such financial impact or increased demand; and WHEREAS, the City has reviewed the proposed Plan and Project and also the existing comprehensive plan for development of the City as a whole to determine whether the proposed Plan and Project conform to the comprehensive plan of the City. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS : Section 1 . Findinqs . The City Council of the City of Elgin, being the corporate authorities of the City, hereby makes the following findings : (a) The Proposed Area is described in Exhibit "A" attached hereto and incorporated herein as if set out in full by this reference . The street location (as near as practicable) for the Proposed Area is described in Exhibit "B" attached hereto and incorporated herein as if set out in full by this reference. The map of the Proposed Area is depicted on Exhibit "C" attached hereto and incorporated herein as if set out in full by this reference. (b) There exists conditions which cause the Proposed Area to be subject to designation as a redevelopment project area under the TIP Act and to be classified as a conservation area as defined in Section 11-74 . 4-3 of the TIF Act . (c) The Proposed 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 Plan. (d) The Plan and Project conform to the comprehensive plan for the development of the City as a whole . (e) As set forth in the Plan and in the testimony at the public hearing, the estimated date of completion of the Project is April 1, 2025 and the estimated date of the retirement of all obligations incurred to finance redevelopment project costs as defined in the Plan is April 1, 2025 . (f) The parcels of real property in the Proposed Area are contiguous, and only those contiguous parcels of real property and improvements thereon which will be substantially benefitted by the proposed Project improvements are included in the Proposed Area. Section 2 . Exhibits Incorporated by Reference . The Plan and Project which were the subject matter of the public hearing held on the 13`h day of March, 2002 , are hereby adopted and approved. A copy of the Plan and Project dated January 14 , 2002 is set forth in Exhibit "D" attached hereto and incorporated herein as if set out in full by this reference . Section 3 . Invalidity of Any Section. If any section, paragraph or provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this ordinance. Section 4 . Superseder. That all ordinances or parts of ordinances in conflict with the provisions of this ordinance be and are hereby repealed. Section 5 . Effective Date. That this ordinance shall be in full force and effect immediately upon its passage in the manner provided by law. s/ Ed Schock Ed Schock, Mayor Presented: April 10, 2002 Passed: April 10, 2002 Vote : Yeas : 6 Nays : 0 Recorded: April 11, 2002 Published: Attest : s/ Dolonna Mecum Dolonna Mecum, City Clerk EXHIBIT A THOSE PARTS OF SECTIONS 11, 12 , 13 , 14 , 23 AND 24 , TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS: COMMENCING AT THE POINT OF INTERSECTION OF THE EASTERLY RIGHT OF WAY LINE OF DUNDEE AVENUE WITH THE NORTHERLY RIGHT OF WAY LINE OF CONGDON AVENUE, SAID POINT BEING THE POINT OF BEGINNING; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF CONGDON AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF MORTON AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF MORTON AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF COOPER AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF COOPER AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF DUNCAN AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF DUNCAN AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF SLADE AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF SLADE AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF BELLEVUE AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF BELLEVUE AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF LINCOLN AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF LINCOLN AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF CEDAR AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF CEDAR AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF LOVELL STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF LOVELL STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE LOGAN AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF LOGAN AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE EXTENDED NORTH OF MANN PLACE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF MANN PLACE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTH LINE OF COUNTY CLERK' S SUBDIVISION OF A PART OF BLOCK 26 OF P.J. KIMBALL JR' S. 3pj:' ADDITION; THENCE WESTERLY ALONG SAID NORTH LINE OF COUNTY CLERK' S SUBDIVISION OF A PART OF BLOCK 26 OF P.J. KIMBALL JR' S. 3PD ADDITION TO A POINT ALONG SAID NORTH LINE, WHICH IS 173 FEET, MORE OR LESS, EAST THE INTERSECTION OF SAID NORTH LINE EXTENDED WITH THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET; THENCE CONTINUING SOUTH FROM THE LAST DESCRIBED POINT A DISTANCE OF 108 FEET, MORE OR LESS, TO A POINT WHICH IS173 FEET, MORE OR LESS, EAST OF THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET; THENCE CONTINUING WEST FROM THE LAST DESCRIBED POINT A DISTANCE OF 173 FEET, MORE OR LESS, TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET, WHICH IS 108 FEET, MORE OR LESS, NORTH OF THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE EASTERLY RIGHT OF WAY LINE OF NORTH GROVE AVENUE; THENCE NORTHERLY ALONG THE EASTERLY RIGHT OF WAY LINE OF NORTH GROVE AVENUE TO THE INTERSECTION OF SAID EASTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE EASTERLY RIGHT OF WAY LINE OF THE FORMER CHICAGO AND NORTHWEST RAILROAD (NOW ABANDONED) ; THENCE NORTHERLY ALONG THE EASTERLY RIGHT OF WAY OF THE FORMER CHICAGO AND NORTHWEST RAILROAD TO THE INTERSECTION OF SAID EASTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF GRANT AVENUE; THENCE NORTHWESTERLY TO THE NORTHEAST CORNER OF LOT 8 IN LOVELL' S ADDITION; .THENCE WESTERLY ALONG THE NORTH LINE OF SAID LOT 8 TO THE EAST SHORELINE OF THE FOX RIVER; THENCE SOUTHERLY ALONG SAID EAST SHORELINE OF THE FOX RIVER TO A POINT OF INTERSECTION WITH THE NORTHERLY RIGHT OF WAY LINE OF JERUSHA AVENUE, EXTENDED EAST; THE WESTERLY ALONG SAID EXTENDED NORTHERLY RIGHT OF WAY LINE OF JERUSHA AVENUE TO THE SOUTHWEST CORNER OF LOT 13 IN BLOCK 5 OF SADLER' S ADDITION; THENCE NORTHERLY ALONG THE WEST LINE EXTENDED, OF SAID LOT 13 TO THE NORTHWEST CORNER OF LOT 6 IN BLOCK 5 OF SADLER' S ADDITION; THENCE EASTERLY ALONG THE NORTHERLY LINE OF SAID BLOCK 5 (BEING ALSO THE SOUTHERLY RIGHT OF WAY LINE OF BELLE AVENUE) TO THE NORTHWEST CORNER OF LOT 9 IN BLOCK 6 OF SADLER' S ADDITION (BEING ALSO A POINT ALONG THE EASTERLY RIGHT OF WAY LINE OF MABEL STREET) ; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE EXTENDED OF MABEL STREET TO THE NORTHEAST CORNER OF THE RIGHT OF WAY OF BIG TIMBER COURT; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE EXTENDED OF BIG TIMBER COURT TO A POINT OF INTERSECTION WITH THE WESTERLY RIGHT OF WAY LINE OF STATE STREET (ILLINOIS STATE ROUTE 31) ; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF STATE STREET TO A POINT OF INTERSECTION WITH THE WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD TO A POINT OF INTERSECTION WITH THE NORTHERLY LINE EXTENDED EAST, OF WEST PARK ADDITION; THENCE WESTERLY ALONG SAID NORTHERLY LINE EXTENDED OF WEST PARK ADDITION TO THE POINT OF INTERSECTION WITH EASTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF LAWRENCE AVENUE; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF LAWRENCE AVENUE TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF JACKSON STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF JACKSON STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF MILL STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF MILL STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF CRYSTAL AVENUE; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF CRYSTAL AVENUE TO A POINT ALONG THE NORTHERLY RIGHT OF WAY LINE OF LOCUST STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF LOCUST STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF PERRY STREET; THENCE SOUTHERLY ALONG SAID WESTERLY LINE OF PERRY STREET TO A POINT ALONG THE SOUTHERLY RIGHT OF WAY LINE OF CROSBY STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF CROSBY STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF ELM STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF ELM STREET TO A POINT ALONG THE NORTH LINE EXTENDED WEST OF B. W. RAYMOND' S 2ND ADDITION; THENCE EASTERLY ALONG SAID NORTH LINE OF B.W. RAYMOND' S 2"D ADDITION TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF WOODWARD STREET; THENCE SOUTHERLY ALONG SAID WESTERLY LINE OF WOODWARD STREET TO A POINT ALONG THE SOUTHERLY RIGHT OF WAY LINE OF STANDISH STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF STANDISH STREET TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF ELY STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF ELY STREET TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF WALNUT AVENUE; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF WALNUT AVENUE TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF BILLINGS STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF BILLINGS STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF OAK STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF OAK STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY. LINE OF GRISWOLD STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF GRISWOLD STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF WASHBURN STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF WASHBURN STREET TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF HENDEE STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF HENDEE STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF HARDING STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY OF HARDING STREET EXTENDED TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE OF LAKE STREET (U.S. ROUTE 20) ; THENCE EASTERLY ALONG THE SOUTHERLY RIGHT OF WAY LINE OF LAKE STREET TO A POINT OF INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF THE CHICAGO AND NORTHWESTERN RAILROAD; THE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF THE CHICAGO NORTHWESTERN RAILROAD TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE OF HASTING STREET; THENCE EASTERLY ALONG SAID y SOUTHERLY RIGHT OF WAY LINE OF HASTING STREET TO A POINT OF INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF WELLINGTON AVENUE EXTENDED; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF WELLINGTON AVENUE TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF WATCH STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF WATCH STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF ST. CHARLES STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF ST. CHARLES STREET TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF VILLA STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF VILLA STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF CHANNING STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF CHANNING STREET TO THE NORTHWEST CORNER OF J. H. AND F. GIFFORD' S ADDITION; THENCE EASTERLY ALONG THE NORTH LINE EXTENDED OF SAID J. H. AND F. GIFFORD' S ADDITION (ALSO THE SOUTH LINE OF CHANNING SCHOOL) TO THE SOUTHWEST CORNER OF MILTON TOWNSEND' S SUBDIVISION; THENCE NORTHERLY ALONG THE WESTERLY LINE EXTENDED OF SAID MILTON TOWNSEND' S SUBDIVISION (ALSO THE EAST LINE OF CHANNING SCHOOL) TO THE SOUTHEAST CORNER OF LOT 270 IN COUNTY CLERK' S SUBDIVISION; THE WESTERLY ALONG SAID SOUTHERLY LINE EXTENDED OF LOT 270 IN COUNTY CLERK' S SUBDIVISION TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF CHANNING STREET (ALSO THE NORTH LINE CHANNING SCHOOL) ; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF CHANNING STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF PARK STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF PARK STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF HILL AVENUE; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF HILL AVENUE TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE FRANKLIN STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF FRANKLIN STREET TO A POINT OF INTERSECTION WITH THE CENTER LINE OF VACATED PORTER STREET; THENCE NORTHERLY ALONG SAID CENTER LINE OF VACATED PORTER STREET TO A POINT OF INTERSECTION WITH THE SOUTHERLY LINE OF BLOCK 3 IN P. MANN' S ADDITION; THENCE EASTERLY ALONG SAID SOUTHERLY LINE OF BLOCK 3 IN P. MANN' S ADDITION TO THE SOUTHEAST CORNER OF LOT 6 IN SAID BLOCK 3 ; THE NORTHERLY ALONG THE EASTERLY LINE EXTENDED OF SAID LOT 6 TO A POINT OF INTERSECTION WITH THE NORTHERLY RIGHT OF WAY OF ANN STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY OF ANN STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY OF HILL AVENUE; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF HILL AVENUE TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF CHESTER AVENUE; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF CHESTER AVENUE TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF LIBERTY STREET (ILLINOIS STATE ROUTE 25) ;THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF LIBERTY STREET TO THE POINT OF BEGINNING; EXCEPT: 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 APPROXIMATELY 973 . 00 FEET TO A POINT ON THE NORTHERLY RIGHT OF WAY LINE OF PRAIRIE STREET, SAID POINT BEING THE POINT OF BEGINNING; THENCE EASTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 685 . 00 FEET TO THE WESTERLY LINE OF THE H.T. PLUMMER' S SUBDIVISION; THENCE SOUTHEASTERLY 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 10 .00 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF GIFFORD PLACE; THENCE NORTHEASTERLY 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 PROLONGATION 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 POINT OF BEGINNING. SAID PROPERTY COMMONLY KNOWN AS THE SOUTH GROVE REDEVELOPMENT PROJECT AREA, ALL LOCATED IN ELGIN TOWNSHIP, CITY OF ELGIN, KANE COUNTY, ILLINOIS, AND; 1/ EXCEPT: THAT PART OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS; COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF APPROXIMATELY 1, 730 . 00 FEET, TO A POINT ON THE NORTH RIGHT OF WAY LINE OF SUMMIT STREET; THENCE EAST ALONG SAID NORTH RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 1, 170 . 00 FEET, TO THE POINT OF BEGINNING; THENCE SOUTH ALONG THE WEST LINE EXTENDED OF LOT 8 IN BLOCK 24 OF JANE R. KIMBALL' S SUBDIVISION, A DISTANCE OF APPROXIMATELY 495 . 00 FEET, TO A POINT THAT IS 132 . 00 FEET SOUTH OF THE SOUTH RIGHT OF WAY LINE OF SENECA STREET AND 132 . 00 FEET EAST OF THE EAST RIGHT OF WAY LINE OF PROSPECT BOULEVARD; THENCE EAST ON A LINE PERPENDICULAR TO THE LAST DESCRIBED COURSE, A DISTANCE OF APPROXIMATELY 66. 00 FEET, TO A POINT ON THE WESTERLY LINE EXTENDED OF LOT 8 IN WM. H. WILCOX' S 2ND ADDITION; THENCE NORTHEAST ALONG SAID WESTERLY LINE EXTENDED A DISTANCE OF APPROXIMATELY 70 . 00 FEET, TO THE SOUTHWEST CORNER OF SAID LOT 8; THENCE SOUTHEAST ALONG THE SOUTHERLY LINE EXTENDED OF SAID LOT 8, A DISTANCE OF APPROXIMATELY 390 . 00 FEET, TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF DUNDEE AVENUE; THENCE NORTHEAST ALONG SAID EASTERLY RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 745 . 00 FEET, TO THE POINT OF INTERSECTION WITH THE NORTH RIGHT OF WAY LINE EXTENDED OF SUMMIT STREET; THENCE WEST ALONG SAID NORTH RIGHT OF WAY LINE EXTENDED TO THE POINT OF BEGINNING. SAID PROPERTY COMMONLY KNOWN AS THE DUNDEE/SUMMIT REDEVELOPMENT PROJECT AREA A, ALL LOCATED IN ELGIN TOWNSHIP, CITY OF ELGIN, KANE COUNTY, ILLINOIS . SAID PROPERTY COMMONLY KNOWN . AS THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT, ALL LOCATED IN KANE COUNTY, ELGIN TOWNSHIP, CITY OF ELGIN, ILLINOIS. EXHIBIT B II. LEGAL DESCRIPTION AND PROJECT BOUNDARY The boundaries of the Project Area have been drawn to include only those contiguous parcels of real property and improvements substantially benefited by the proposed Redevelopment Project to be undertaken as part of this Redevelopment Plan. The boundaries of the Project Area are shown in Figure 1,Project Area Boundary Map, and are generally described below: The Project Area straddles both sides of the Fox River and generally includes the CiVs central business district; blocks along State Street and the west side of the Fox River from Big Timber Court on the north to U.S. Route 20 on the south; blocks along the east side of the Fox River from River Bluff Road on the north to U.S. Route 20 on the south; blocks along the Dundee Avenue and Villa Street corridors, from Congdon Avenue on the north to Watch Street on the. south; a portion of the Spring-Douglas Historic District (south of Summit Street); a portion of the Elgin Historic District (west of Channing Street); and a portion of the Elgin National Watch Historic District(west of Wellington Avenue and Channing Street). The boundaries of the Project Area are legally described in Exhibit I at the end of this report. a ra ��■ ■ eNeee no IWO :,�.� \�� ale E� e o �"���=' ■■II ® 13 . ■ 23 ELGIN CENTRAL AREA Elgin, IL ; EXHIBIT D ELGIN CENTRAL AREA TAX.INCREMENT FINANCING REDEVELOPMENT PROJECT AND PLAN City of Elgin, Illinois January 14,2002 City.of Elgin Ed Schock,Mayor Department of Planning and Neighborhood Services Mark Biernacki,Community Development.Manager. WK089994 4- rt�tr:t: t✓'v: :' i 1. ILL. 2002 K 08999 S 1102 JUL 22 AN 11: 3 RECORDER State of Illinois) County of Kane) ss. City of Elgin ) CERTIFICATE OF CITY CLERK I, Dolonna Mecum, DO HEREBY CERTIFY that I am the duly qualified City Clerk of the City of Elgin, in the Counties of Kane and Cook in the State of Illinois, and that as such City Clerk I am the keeper and custodian of the files and records of said City of Elgin and the seal thereof. I DO FURTHER CERTIFY that the attached is a full, true, and correct copy of: ORDINANCE NO. S3-02 AN ORDINANCE DESIGNATING THE.ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AREA passed by the Elgin City Council at its legally convened meeting held on April 10, 2002 In Witness Whereof, I have hereunto set my hand and affixed the corporate seal of the City of Elgin at the said City in the County and State aforesaid this April 11, 2002 City Clerk This document prepared by: William A. Cogley After recording return tc (SEAL) City of Elgin Elgin City Clerk 150. Dexter Court 150 Dexter Court Elgin, IL 60120 Elgin, IL 60120 iL(I 1 1� Z`j o Ordinance No. S3-02 AN ORDINANCE DESIGNATING THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AREA WHEREAS, it is desirable and for the best interests of the citizens of the City of Elgin, Illinois (the "City" ) , for the City to implement tax increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILLS 5/11-74 .4-1, et seq. , as amended (the "Act" ) ,- for a proposed redevelopment plan and redevelopment project (the "Plan" and "Project" ) within the municipal boundaries of the City and within a proposed redevelopment project area (the "Area" ) described in Section 1 of this ordinance; and WHEREAS, the City has heretofore by ordinance adopted and approved the Plan and Project, which Plan and Project were identified in such ordinance and were the subject, along with the Area designation hereinafter made, of a public hearing held on the 1311 day of March, 2002 , and it is now necessary and desirable to designate the Area as a redevelopment project area pursuant to the Act . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THECITY OF ELGIN, ILLINOIS : Section 1 . Area Designated. The Area, as described in Exhibit "A" attached hereto and incorporated herein as if set out in full by this reference, is hereby designated as a redevelopment project area pursuant to Section 11-74 . 4-4 of the Act . The street location (as near as practicable) for the Area is described in Exhibit "B" attached hereto and incorporated herein as if set out in full by this reference . The map of the Area is depicted on Exhibit "C" attached hereto and incorporated herein as if set out in full by this reference . Section 2 . Invalidity of Any Section. If any section, paragraph or provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this ordinance. Section 3 . Superseder . That all ordinances or parts of ordinances in conflict with the provisions of this ordinance be and are hereby repealed. Z Section 4 . Effective Date. That this ordinance shall be in full force and effect immediately upon its passage in the manner provided by law. s/ Ed Schock Ed Schock, Mayor Presented: April 10, 2002 Passed: April 10, 2002 Vote: Yeas : 6 Nays : 0 Recorded: April 11, 2002 Published: Attest : s/ Dolonna Mecum Dolonna Mecum, City Clerk 3 EXHIBIT A THOSE PARTS OF SECTIONS 11 , 12 , 13 , 14 , 23 AND 24, TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS : COMMENCING AT THE POINT OF INTERSECTION OF THE EASTERLY RIGHT OF WAY LINE OF DUNDEE AVENUE WITH THE NORTHERLY RIGHT OF WAY LINE OF CONGDON AVENUE, SAID POINT BEING THE POINT OF BEGINNING; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF CONGDON AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF MORTON AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF MORTON AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF COOPER AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF COOPER AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF DUNCAN AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF DUNCAN AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF SLADE AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF SLADE AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF BELLEVUE AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF BELLEVUE AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF LINCOLN AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF LINCOLN AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF CEDAR AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF CEDAR AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF LOVELL STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF LOVELL STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE LOGAN AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF LOGAN AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE EXTENDED NORTH OF MANN PLACE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF MANN PLACE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTH LINE OF COUNTY CLERK' S SUBDIVISION OF A PART OF BLOCK 26 OF P.J. KIMBALL JR' S . 3RD ADDITION; THENCE WESTERLY ALONG SAID NORTH LINE OF COUNTY CLERK' S SUBDIVISION OF A PART OF BLOCK 26 OF P.J. KIMBALL JR' S . 3`2D ADDITION TO A POINT ALONG SAID NORTH LINE, WHICH IS 173 FEET, MORE OR LESS, EAST THE INTERSECTION OF SAID NORTH LINE EXTENDED WITH THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET; THENCE CONTINUING SOUTH FROM THE LAST DESCRIBED POINT A DISTANCE OF 108 FEET, MORE OR LESS, TO A POINT WHICH IS173 FEET, MORE OR LESS, EAST OF THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET; THENCE CONTINUING WEST FROM THE LAST DESCRIBED POINT A DISTANCE OF 173 FEET, MORE OR LESS, TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET, WHICH IS 108 FEET, MORE OR LESS, NORTH OF THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE EASTERLY RIGHT OF WAY LINE OF NORTH GROVE AVENUE; THENCE NORTHERLY ALONG THE EASTERLY RIGHT OF WAY LINE OF NORTH GROVE AVENUE TO THE INTERSECTION OF SAID EASTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE EASTERLY RIGHT OF WAY LINE OF THE FORMER CHICAGO AND NORTHWEST RAILROAD (NOW ABANDONED) ; THENCE NORTHERLY ALONG THE EASTERLY RIGHT OF WAY OF THE FORMER CHICAGO AND NORTHWEST RAILROAD TO THE INTERSECTION OF SAID EASTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF GRANT AVENUE; THENCE NORTHWESTERLY TO THE NORTHEAST CORNER OF LOT 8 IN LOVELL' S ADDITION; THENCE WESTERLY ALONG THE NORTH LINE OF SAID LOT 8 TO THE EAST SHORELINE OF THE FOX RIVER; THENCE SOUTHERLY ALONG SAID EAST SHORELINE OF THE FOX RIVER TO A POINT OF INTERSECTION WITH THE NORTHERLY RIGHT OF WAY LINE OF JERUSHA AVENUE, EXTENDED EAST; THE WESTERLY ALONG SAID EXTENDED NORTHERLY RIGHT OF WAY LINE OF JERUSHA AVENUE TO THE SOUTHWEST CORNER OF LOT 13 IN BLOCK 5 OF SADLER' S ADDITION; THENCE NORTHERLY ALONG THE WEST LINE EXTENDED, OF SAID LOT 13 TO THE NORTHWEST CORNER OF LOT 6 IN BLOCK 5 OF SADLER' S ADDITION; THENCE EASTERLY ALONG THE NORTHERLY LINE OF SAID BLOCK 5 (BEING ALSO THE SOUTHERLY RIGHT OF WAY LINE OF BELLE AVENUE) TO THE NORTHWEST CORNER OF LOT 9 IN BLOCK 6 OF SADLER' S ADDITION (BEING ALSO A POINT ALONG THE EASTERLY RIGHT OF WAY LINE OF MABEL STREET) ; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE EXTENDED OF MABEL STREET TO THE NORTHEAST CORNER OF THE RIGHT OF WAY OF BIG TIMBER COURT; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE EXTENDED OF BIG TIMBER COURT TO A POINT OF INTERSECTION WITH THE WESTERLY RIGHT OF WAY LINE OF STATE STREET (ILLINOIS STATE ROUTE 31) ; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF STATE STREET TO A POINT OF INTERSECTION WITH THE WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST . PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD TO A POINT OF INTERSECTION WITH THE NORTHERLY LINE EXTENDED EAST, OF WEST PARK ADDITION; THENCE WESTERLY ALONG SAID NORTHERLY LINE EXTENDED OF WEST PARK ADDITION TO THE POINT OF INTERSECTION WITH EASTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF LAWRENCE AVENUE; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF LAWRENCE AVENUE TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT J OF WAY LINE OF JACKSON STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF JACKSON STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF MILL STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF MILL STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF CRYSTAL AVENUE; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF CRYSTAL AVENUE TO A POINT ALONG THE NORTHERLY RIGHT OF WAY LINE OF LOCUST STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF LOCUST STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF PERRY STREET; THENCE SOUTHERLY ALONG SAID WESTERLY LINE OF PERRY STREET TO A POINT ALONG THE SOUTHERLY RIGHT OF WAY LINE OF CROSBY STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF CROSBY STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF ELM STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF ELM STREET TO A POINT ALONG THE NORTH LINE EXTENDED WEST OF B. W. RAYMOND' S 2`''D ADDITION; THENCE EASTERLY ALONG SAID NORTH LINE OF B.W. RAYMOND' S 2"D ADDITION TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF WOODWARD STREET; THENCE SOUTHERLY ALONG SAID WESTERLY LINE OF WOODWARD STREET TO A POINT ALONG THE SOUTHERLY RIGHT OF WAY LINE OF STANDISH STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF STANDISH STREET TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF ELY STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF ELY STREET TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF WALNUT AVENUE; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF WALNUT AVENUE TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF BILLINGS STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF BILLINGS STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF OAK STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF OAK STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF GRISWOLD STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF GRISWOLD STREET TO A POINT OF INTERSECTION ALONG- THE SOUTHERLY RIGHT OF WAY LINE OF WASHBURN STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF WASHBURN STREET TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF HENDEE STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF HENDEE STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF HARDING STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY OF HARDING STREET EXTENDED TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE OF LAKE STREET (U. S . ROUTE 20) ; THENCE EASTERLY ALONG THE SOUTHERLY RIGHT OF WAY LINE OF LAKE STREET TO A POINT OF INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF THE CHICAGO AND NORTHWESTERN RAILROAD; THE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF THE CHICAGO NORTHWESTERN RAILROAD TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE OF HASTING STREET; THENCE EASTERLY ALONG SAID 6 SOUTHERLY RIGHT OF WAY LINE OF HASTING STREET TO A POINT OF INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF WELLINGTON AVENUE EXTENDED; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF WELLINGTON AVENUE TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF WATCH STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF WATCH STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF ST. CHARLES STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF ST. CHARLES STREET TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF VILLA STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF VILLA STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF CHANNING STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF CHANNING STREET TO THE NORTHWEST CORNER OF J. H. AND F. GIFFORD' S ADDITION; THENCE EASTERLY ALONG THE NORTH LINE EXTENDED OF SAID J. H. AND F. GIFFORD' S ADDITION (ALSO THE SOUTH LINE OF CHANNING SCHOOL) TO THE SOUTHWEST CORNER OF MILTON TOWNSEND' S SUBDIVISION; THENCE NORTHERLY ALONG THE WESTERLY LINE EXTENDED OF SAID MILTON TOWNSEND' S SUBDIVISION (ALSO THE EAST LINE OF CHANNING SCHOOL) TO THE SOUTHEAST CORNER OF LOT 270 IN COUNTY CLERK' S SUBDIVISION; THE WESTERLY ALONG SAID SOUTHERLY LINE EXTENDED OF LOT 270 IN COUNTY CLERK' S SUBDIVISION TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF CHANNING STREET (ALSO THE NORTH LINE CHANNING SCHOOL) ; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF CHANNING STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF PARK STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF PARK STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF HILL AVENUE; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF HILL AVENUE TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT, OF WAY LINE FRANKLIN STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF FRANKLIN STREET TO A POINT OF INTERSECTION WITH THE CENTER LINE OF VACATED PORTER STREET; THENCE NORTHERLY ALONG SAID CENTER LINE OF VACATED PORTER STREET TO A POINT OF INTERSECTION WITH THE SOUTHERLY LINE OF BLOCK 3 IN P. MANN' S ADDITION; THENCE EASTERLY ALONG SAID SOUTHERLY LINE OF BLOCK 3 IN P. MANN' S ADDITION TO THE SOUTHEAST CORNER OF LOT 6 IN SAID BLOCK 3 ; THE NORTHERLY ALONG THE EASTERLY LINE EXTENDED OF SAID LOT 6 TO A POINT OF INTERSECTION WITH THE NORTHERLY RIGHT OF WAY OF ANN STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY OF ANN STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY OF HILL AVENUE; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF HILL AVENUE TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF CHESTER AVENUE; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF CHESTER AVENUE TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF LIBERTY STREET (ILLINOIS STATE ROUTE 25) ;THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF LIBERTY STREET TO THE POINT OF BEGINNING; EXCEPT: 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 APPROXIMATELY 973 . 00 FEET TO A POINT ON THE NORTHERLY RIGHT OF WAY LINE OF PRAIRIE STREET, SAID POINT BEING THE POINT OF BEGINNING; THENCE EASTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 685 . 00 FEET TO THE WESTERLY LINE OF THE H.T. PLUMMER' S SUBDIVISION; THENCE SOUTHEASTERLY 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 10 .00 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF GIFFORD PLACE; THENCE NORTHEASTERLY 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 PROLONGATION 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 POINT OF BEGINNING. SAID PROPERTY COMMONLY KNOWN AS THE SOUTH GROVE REDEVELOPMENT PROJECT AREA, ALL LOCATED IN ELGIN TOWNSHIP, CITY OF ELGIN, KANE COUNTY, ILLINOIS, AND; D v EXCEPT: THAT PART OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS; COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF APPROXIMATELY 1, 730 . 00 FEET, TO A POINT ON THE NORTH RIGHT OF WAY LINE OF SUMMIT STREET; THENCE EAST ALONG SAID NORTH RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 1, 170 . 00 FEET, TO THE POINT OF BEGINNING; THENCE SOUTH ALONG THE WEST LINE EXTENDED OF LOT 8 IN BLOCK 24 OF JANE R. KIMBALL' S SUBDIVISION, A DISTANCE OF APPROXIMATELY 495 . 00 FEET, TO A POINT THAT IS 132 . 00 FEET SOUTH OF THE SOUTH RIGHT OF WAY LINE OF SENECA STREET AND 132 . 00 FEET EAST OF THE EAST RIGHT OF WAY LINE OF PROSPECT BOULEVARD; THENCE EAST ON A LINE PERPENDICULAR TO THE LAST DESCRIBED COURSE, A DISTANCE OF APPROXIMATELY 66 . 00 FEET, TO A POINT ON THE WESTERLY LINE EXTENDED OF LOT 8 IN WM. H. WILCOX'S 2 N ADDITION; THENCE NORTHEAST ALONG SAID WESTERLY LINE EXTENDED A DISTANCE OF APPROXIMATELY 70 . 00 FEET, TO THE SOUTHWEST CORNER OF SAID LOT 8; THENCE SOUTHEAST ALONG THE SOUTHERLY LINE EXTENDED OF SAID LOT 8, A DISTANCE OF APPROXIMATELY 390 . 00 FEET, TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF DUNDEE AVENUE; THENCE NORTHEAST ALONG SAID EASTERLY RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 745 . 00 FEET, TO THE POINT OF INTERSECTION WITH THE NORTH RIGHT OF WAY LINE EXTENDED OF SUMMIT STREET; THENCE WEST ALONG SAID NORTH RIGHT OF WAY LINE EXTENDED TO THE POINT OF BEGINNING. SAID PROPERTY COMMONLY KNOWN AS THE DUNDEE/SUMMIT REDEVELOPMENT PROJECT AREA A, ALL LOCATED IN ELGIN TOWNSHIP, CITY OF ELGIN, KANE COUNTY, ILLINOIS . SAID PROPERTY COMMONLY KNOWN AS THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT, ALL LOCATED IN KANE COUNTY, ELGIN TOWNSHIP, CITY OF ELGIN, ILLINOIS . cl EXHIBIT B II. LEGAL DESCRIPTION AND PROJECT BOUNDARY The boundaries of the Project Area have been drawn to include only those contiguous parcels of real property and improvements substantially benefited by the proposed Redevelopment Project to be undertaken as part of this Redevelopment Plan. The boundaries of the Project Area are shown in Figure 1,Project Area Boundary Map, and are generally described below: The Project Area straddles both sides of the Fox River and generally includes the City's central business district;blocks along State Street and the west side of the Fox River from Big Timber Court on the north to U.S. Route 20 on the south; blocks along the east side of the Fox River from River Bluff'Road on the north to U.S. Route 20 on-the south; blocks along the Dundee Avenue and Villa Street corridors, from Congdon Avenue on the north to Watch Street on the south; a portion of the Spring-Douglas Historic District (south of Summit Street); a portion of the Elgin Historic District(west of Channing Street); and a portion of the Elgin National Watch Historic District(west of Wellington Avenue and Channing Street). The boundaries of the Project Area are legally described in Exhibit I at the end of this report. m�v IN MINES ■ ►a ` ■ � WIN eeIon Vt E� 23 too F!rl !'ENT`s„L AREA Elgin, IL.: �y • ; V� 2002KO89996 29)1JM22 pi11� Nu X57 w �� • R`COROER State of Illinois) County of Kane) ss. City of Elgin ) CERTIFICATE OF CITY CLERK I, Dolonna Mecum, DO HEREBY CERTIFY that I am the duly qualified City Clerk of the City of Elgin, in the Counties of Kane and Cook in the State of Illinois, and that as such City Clerk I am the keeper and custodian of the files and records of said City of Elgin and the seal thereof. I DO FURTHER CERTIFY that the attached is a full, true, and correct copy of: ORDINANCE NO. S4-02 AN ORDINANCE ADOPTING TAX INCREMENT FINANCING FOR THE CITY OF ELGIN IN CONNECTION WITH THE DESIGNATION OF THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AREA passed by the Elgin City Council at its legally convened meeting held on April 10, 2002 In Witness Whereof, I have hereunto set my hand and affixed the corporate seal of the City of Elgin at the said City in the County and State aforesaid this April 11, 2002 City Clerk This document prepared by: William A. Cogley After recording return tc City of Elgin Elgin City Clerk (SEAL) 150 Dexter Court 150 Dexter Court Elgin, IL 60120 Elgin, IL 60120 , iA � -7.,'_ao Ordinance No. S4-02 AN ORDINANCE ADOPTING TAX INCREMENT FINANCING FOR THE CITY OF ELGIN IN CONNECTION WITH THE DESIGNATION OF THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AREA WHEREAS, it is desirable and for the best interests of the citizens of the City of Elgin, Illinois (the "City" ) , for the City to adopt tax increment financing pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILLS 5/11-74 . 4-1, et seq. , as amended (the "Act" ) ; and WHEREAS, the City has heretofore approved a redevelopment plan and project (the "Plan" and "Project" ) as required by the Act by passage of an ordinance and has heretofore designated the Elgin Central Area Tax Increment Redevelopment Project Area (the "Area") as required by the Act by the passage of an Ordinance and the City has otherwise complied with all other conditions precedent required by the Act . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS : Section 1 . Tax Increment Financing Adopted. Tax increment allocation financing is hereby adopted to pay redevelopment project costs as defined in the Act and as set forth in the Plan and Project within the Area as described in Exhibit "A" attached hereto and incorporated herein as if set out in full by this reference. The street location (as near as practicable) for the Area is described in Exhibit "B" attached hereto and incorporated herein as if set out in full by this reference. The map of the Area is depicted on Exhibit "C" attached hereto and incorporated herein as if set out in full by this reference. Section 2 . Allocation of Ad Valorem Taxes . Pursuant to the Act, the ad valorem taxes, if any, arising from the levies upon taxable real property in the Area by taxing districts and tax rates determined in the manner provided in Section 11-74 .4-9 (c) of the Act each year after the effective date of this ordinance until the Project costs and obligations issued in respect thereto have been paid shall be divided as follows : (a) That portion of taxes levied upon each taxable lot, block, tract or parcel of real property which is attributable to the lower of the current equalized assessed value or the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the Area shall be allocated to and when collected shall be paid by the county collector to the respective Z affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing. (b) That portion, if any, of such taxes which is attributable to the increase in the current equalized assessed valuation of each lot, block, tract or parcel of real property in the Area over and above the initial equalized assessed value of each property in the Area shall be allocated to and when collected shall be paid to the City of Elgin treasurer or to his/her designee pursuant to Section 207A of the Revenue Act of 1939 of the State of Illinois, as amended, who shall deposit said taxes into a special fund, hereby created, and designated the "City of Elgin Central Area Tax Increment Financing Redevelopment Project Area Special Tax Allocation Fund" of the City and such taxes shall be used for the purpose of paying Project costs and obligations incurred in the payment thereof . Section 3 . Invalidity of Any Section. If any section, paragraph or provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this ordinance . Section 4 . Superseder. That all ordinances or parts of ordinances in conflict with the provisions of this ordinance be and are hereby repealed. Section 5 . Effective Date . That this ordinance shall be in full force and effect immediately upon its passage in the manner provided by law. s/ Ed Schock Ed Schock, Mayor Presented: April 10, 2002 Passed: April 10, 2002 Vote: Yeas : 6 Nays : 0 Recorded: April 11, 2002 Published: Attest : s/ Dolonna Mecum Dolonna Mecum, City Clerk 77 EXHIBIT A THOSE PARTS OF SECTIONS 11, 12, 13 , 14, 23 AND 24 , TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS: COMMENCING AT THE POINT OF INTERSECTION OF THE EASTERLY RIGHT OF WAY LINE OF DUNDEE AVENUE WITH THE NORTHERLY RIGHT OF WAY LINE OF CONGDON AVENUE, SAID POINT BEING THE POINT OF BEGINNING; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF CONGDON AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF MORTON AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF MORTON AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF COOPER AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF COOPER AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF DUNCAN AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF DUNCAN AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF SLADE AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF SLADE AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF BELLEVUE AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF BELLEVUE AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF LINCOLN AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF LINCOLN AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE OF CEDAR AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF CEDAR AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF LOVELL STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF LOVELL STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE LOGAN AVENUE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF LOGAN AVENUE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON AVENUE; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON AVENUE TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE WESTERLY RIGHT OF WAY LINE EXTENDED NORTH OF MANN PLACE; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF MANN PLACE TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTH LINE OF COUNTY CLERK' S SUBDIVISION OF A PART OF BLOCK 26 OF P.J. KIMBALL JR' S . 3'D ADDITION; THENCE WESTERLY ALONG SAID NORTH LINE OF COUNTY CLERK' S SUBDIVISION OF A PART OF BLOCK 26 OF P.J. KIMBALL JR' S. 3`D ADDITION TO A POINT ALONG SAID NORTH LINE, WHICH IS 173 FEET, MORE OR LESS, EAST THE INTERSECTION OF SAID NORTH LINE EXTENDED WITH THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET; THENCE CONTINUING SOUTH FROM THE LAST DESCRIBED POINT A DISTANCE OF 108 FEET, MORE OR LESS, TO A POINT WHICH IS173 FEET, MORE OR LESS, EAST OF THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET; THENCE CONTINUING WEST FROM THE LAST DESCRIBED POINT A DISTANCE OF 173 14 FEET, MORE OR LESS, TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET, WHICH IS 108 FEET, MORE OR LESS, NORTH OF THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET; THENCE SOUTHERLY ALONG THE WESTERLY RIGHT OF WAY LINE OF ST. JOHN STREET TO THE INTERSECTION OF SAID WESTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF SUMMIT STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE EASTERLY RIGHT OF WAY LINE OF NORTH GROVE AVENUE; THENCE NORTHERLY ALONG THE EASTERLY RIGHT OF WAY LINE OF NORTH GROVE AVENUE TO THE INTERSECTION OF SAID EASTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON STREET; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE OF JEFFERSON STREET TO THE INTERSECTION OF SAID NORTHERLY RIGHT OF WAY LINE WITH THE EASTERLY RIGHT OF WAY LINE OF THE FORMER CHICAGO AND NORTHWEST RAILROAD (NOW ABANDONED) ; THENCE NORTHERLY ALONG THE EASTERLY RIGHT OF WAY OF THE FORMER CHICAGO AND NORTHWEST RAILROAD TO THE INTERSECTION OF SAID EASTERLY RIGHT OF WAY LINE WITH THE NORTHERLY RIGHT OF WAY LINE OF GRANT AVENUE; THENCE NORTHWESTERLY TO THE NORTHEAST CORNER OF LOT 8 IN LOVELL' S ADDITION; THENCE WESTERLY ALONG THE NORTH LINE OF SAID LOT 8 TO THE EAST SHORELINE OF THE FOX RIVER; THENCE SOUTHERLY ALONG SAID EAST SHORELINE OF THE FOX RIVER TO A POINT OF INTERSECTION WITH THE NORTHERLY RIGHT OF WAY LINE OF JERUSHA AVENUE, EXTENDED EAST; THE WESTERLY ALONG SAID EXTENDED NORTHERLY RIGHT OF WAY LINE OF JERUSHA AVENUE TO THE SOUTHWEST CORNER OF LOT 13 IN BLOCK 5 OF SADLER' S ADDITION; THENCE NORTHERLY ALONG THE WEST LINE EXTENDED, OF SAID LOT 13 TO THE NORTHWEST CORNER OF LOT 6 IN BLOCK 5 OF SADLER' S ADDITION; THENCE EASTERLY ALONG THE NORTHERLY LINE OF SAID BLOCK 5 (BEING ALSO THE SOUTHERLY RIGHT OF WAY LINE OF BELLE AVENUE) TO THE NORTHWEST CORNER OF LOT 9 IN BLOCK 6 OF SADLER' S ADDITION (BEING ALSO A POINT ALONG THE EASTERLY RIGHT OF WAY LINE OF MABEL STREET) ; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE EXTENDED OF MABEL STREET TO THE NORTHEAST CORNER OF THE RIGHT OF WAY OF BIG TIMBER COURT; THENCE WESTERLY ALONG THE NORTHERLY RIGHT OF WAY LINE EXTENDED OF BIG TIMBER COURT TO A POINT OF INTERSECTION WITH THE WESTERLY RIGHT OF WAY LINE OF STATE STREET (ILLINOIS STATE ROUTE 31) ; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF STATE STREET TO A POINT OF INTERSECTION WITH THE WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD TO A POINT OF INTERSECTION WITH THE NORTHERLY LINE EXTENDED EAST, OF WEST PARK ADDITION; THENCE WESTERLY ALONG SAID NORTHERLY LINE EXTENDED OF WEST PARK ADDITION TO THE POINT OF INTERSECTION WITH EASTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF LAWRENCE AVENUE; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF LAWRENCE AVENUE TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT J OF WAY LINE OF JACKSON STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF JACKSON STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF MILL STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF MILL STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF CRYSTAL AVENUE; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF CRYSTAL AVENUE TO A POINT ALONG THE NORTHERLY RIGHT OF WAY LINE OF LOCUST STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF LOCUST STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF PERRY STREET; THENCE SOUTHERLY ALONG SAID WESTERLY LINE OF PERRY STREET TO A POINT ALONG THE SOUTHERLY RIGHT OF WAY LINE OF CROSBY STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF CROSBY STREET TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF ELM STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF ELM STREET TO A POINT ALONG THE NORTH LINE EXTENDED WEST OF B. W. RAYMOND' S 2ND ADDITION; THENCE EASTERLY ALONG SAID NORTH LINE OF B.W. RAYMOND' S 2ND ADDITION TO A POINT ALONG THE WESTERLY RIGHT OF WAY LINE OF WOODWARD STREET; THENCE SOUTHERLY ALONG SAID WESTERLY LINE OF WOODWARD STREET TO A POINT ALONG THE SOUTHERLY RIGHT OF WAY LINE OF STANDISH STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF STANDISH STREET TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF ELY STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF ELY STREET TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF WALNUT AVENUE; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF WALNUT AVENUE TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF BILLINGS STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF BILLINGS STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF OAK STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF OAK STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF GRISWOLD STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF GRISWOLD STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF WASHBURN STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF WASHBURN STREET TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF HENDEE STREET; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE OF HENDEE STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF HARDING STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY OF HARDING STREET EXTENDED TO A POINT OF INTERSECTION ALONG THE WESTERLY RIGHT OF WAY LINE OF THE CHICAGO, MINNEAPOLIS, ST. PAUL AND PACIFIC RAILROAD; THENCE SOUTHERLY ALONG SAID WESTERLY RIGHT OF WAY LINE TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE OF LAKE STREET (U. S. ROUTE 20) ; THENCE EASTERLY ALONG THE SOUTHERLY RIGHT OF WAY LINE OF LAKE STREET TO A POINT OF INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF THE CHICAGO AND NORTHWESTERN RAILROAD; THE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF THE CHICAGO NORTHWESTERN RAILROAD TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE OF HASTING STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF HASTING STREET TO A POINT OF INTERSECTION WITH THE EASTERLY RIGHT OF WAY LINE OF WELLINGTON AVENUE EXTENDED; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF WELLINGTON AVENUE TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF WATCH STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF WATCH STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF ST. CHARLES STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF ST. CHARLES STREET TO A POINT OF INTERSECTION ALONG THE NORTHERLY RIGHT OF WAY LINE OF VILLA STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE OF VILLA STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF CHANNING STREET; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF CHANNING STREET TO THE NORTHWEST CORNER OF J. H. AND F. GIFFORD' S ADDITION; THENCE EASTERLY ALONG THE NORTH LINE EXTENDED OF SAID J. H. AND F. GIFFORD' S ADDITION (ALSO THE SOUTH LINE OF CHANNING SCHOOL) TO THE SOUTHWEST CORNER OF MILTON TOWNSEND' S SUBDIVISION; THENCE NORTHERLY ALONG THE WESTERLY LINE EXTENDED OF SAID MILTON TOWNSEND' S SUBDIVISION (ALSO THE EAST LINE OF CHANNING SCHOOL) TO THE SOUTHEAST CORNER OF LOT 270 IN COUNTY CLERK' S SUBDIVISION; THE WESTERLY ALONG SAID SOUTHERLY LINE EXTENDED OF LOT 270 IN COUNTY CLERK' S SUBDIVISION TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF CHANNING STREET (ALSO THE NORTH LINE CHANNING SCHOOL) ; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF CHANNING STREET TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF PARK STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF PARK STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF HILL AVENUE; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF HILL AVENUE TO A POINT OF INTERSECTION WITH THE SOUTHERLY RIGHT OF WAY LINE FRANKLIN STREET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF FRANKLIN STREET TO A POINT OF INTERSECTION WITH THE CENTER LINE OF VACATED PORTER STREET; THENCE NORTHERLY ALONG SAID CENTER LINE OF VACATED PORTER STREET TO A POINT OF INTERSECTION WITH THE SOUTHERLY LINE OF BLOCK 3 IN P. MANN' S ADDITION; THENCE EASTERLY ALONG SAID SOUTHERLY LINE OF BLOCK 3 IN P. MANN' S ADDITION TO THE SOUTHEAST CORNER OF LOT 6 IN SAID BLOCK 3 ; THE NORTHERLY ALONG THE EASTERLY LINE EXTENDED OF SAID LOT 6 TO A POINT OF INTERSECTION WITH THE NORTHERLY RIGHT OF WAY OF ANN STREET; THENCE WESTERLY ALONG SAID NORTHERLY RIGHT OF WAY OF ANN STREET TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY OF HILL AVENUE; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF HILL AVENUE TO A POINT OF INTERSECTION ALONG THE SOUTHERLY RIGHT OF WAY LINE OF CHESTER AVENUE; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE OF CHESTER AVENUE TO A POINT OF INTERSECTION ALONG THE EASTERLY RIGHT OF WAY LINE OF LIBERTY STREET (ILLINOIS STATE ROUTE 25) ;THENCE NORTHERLY ALONG SAID EASTERLY RIGHT OF WAY LINE OF LIBERTY STREET TO THE POINT OF BEGINNING; EXCEPT: 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 APPROXIMATELY 973 . 00 FEET TO A POINT ON THE NORTHERLY RIGHT OF WAY LINE OF PRAIRIE STREET, SAID POINT BEING THE POINT OF BEGINNING; THENCE EASTERLY ALONG SAID NORTHERLY RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 685 . 00 FEET TO THE WESTERLY LINE OF THE H.T. PLUMMER' S SUBDIVISION; THENCE SOUTHEASTERLY 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 10 . 00 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF GIFFORD PLACE; THENCE NORTHEASTERLY 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 PROLONGATION 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 POINT OF BEGINNING. SAID PROPERTY COMMONLY KNOWN AS THE SOUTH GROVE REDEVELOPMENT PROJECT AREA, ALL LOCATED IN ELGIN TOWNSHIP, CITY OF ELGIN, KANE COUNTY, ILLINOIS, AND; J EXCEPT: THAT PART OF THE SOUTHWEST QUARTER OF SECTION 12 , TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS; COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF APPROXIMATELY 1 , 730 . 00 FEET, TO A POINT ON THE NORTH RIGHT OF WAY LINE OF SUMMIT STREET; THENCE EAST ALONG SAID NORTH RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 1, 170 . 00 FEET, TO THE POINT OF BEGINNING; THENCE SOUTH ALONG THE WEST LINE EXTENDED OF LOT 8 IN BLOCK 24 OF JANE R. KIMBALL' S SUBDIVISION, A DISTANCE OF APPROXIMATELY 495 . 00 FEET, TO A POINT THAT IS 132 . 00 FEET SOUTH OF THE SOUTH RIGHT OF WAY LINE OF SENECA STREET AND 132 . 00 FEET EAST OF THE EAST RIGHT OF WAY LINE OF PROSPECT BOULEVARD; THENCE EAST ON A LINE PERPENDICULAR TO THE LAST DESCRIBED COURSE, A DISTANCE OF APPROXIMATELY 66 . 00 FEET, TO A POINT ON THE WESTERLY LINE EXTENDED OF LOT 8 IN WM. H. WILCOX' S 2`''D ADDITION; THENCE NORTHEAST ALONG SAID WESTERLY LINE EXTENDED A DISTANCE OF APPROXIMATELY 70 . 00 FEET, TO THE SOUTHWEST CORNER OF SAID LOT 8; THENCE SOUTHEAST ALONG THE SOUTHERLY LINE EXTENDED OF SAID LOT 8, A DISTANCE OF APPROXIMATELY 390 . 00 FEET, TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF DUNDEE AVENUE; THENCE NORTHEAST ALONG SAID EASTERLY RIGHT OF WAY LINE, A DISTANCE OF APPROXIMATELY 745 . 00 FEET, TO THE POINT OF INTERSECTION WITH THE NORTH RIGHT OF WAY LINE EXTENDED OF SUMMIT STREET; THENCE WEST ALONG SAID NORTH RIGHT OF WAY LINE EXTENDED TO THE POINT OF BEGINNING. SAID PROPERTY COMMONLY KNOWN AS THE DUNDEE/SUMMIT REDEVELOPMENT PROJECT AREA A, ALL LOCATED IN ELGIN TOWNSHIP, CITY OF ELGIN, KANE COUNTY, ILLINOIS . SAID PROPERTY COMMONLY KNOWN AS THE ELGIN CENTRAL AREA TAX INCREMENT FINANCING REDEVELOPMENT PROJECT, ALL LOCATED IN KANE COUNTY, ELGIN TOWNSHIP, CITY OF ELGIN, ILLINOIS. EXHIBIT B II. LEGAL DESCRIPTION AND PROJECT BOUNDARY The boundaries of the Project Area have been drawn to include only those contiguous parcels of real property and improvements substantially benefited by the proposed Redevelopment Project to be undertaken as part of this Redevelopment Plan. The boundaries of the Project Area are shown in Figure 1,Project Area Boundary Map, and are generally described below: The Project Area straddles both sides of the Fox River and generally includes the City's central business district; blocks along State Street and the west side of the Fox River from Big Timber Court on the north to U.S. Route 20 on the south; blocks along the east side of the Fox River from River Bluff Road on the north to U.S: Route 20 on the south; blocks along the Dundee Avenue and Villa Street corridors, from Congdon Avenue on the north to Watch Street on the south; a portion of the Spring-Douglas Historic District (south of Summit Street); a portion of the Elgin Historic District(west of Channing Street); and a portion of the Elgin National Watch Historic District(west of Wellington Avenue and Channing Street). The boundaries of the Project Area are legally described in Exhibit I at the end of this report. l� ...1:�1�r •,TI 14 ,11�►' m � ■ \ � LMsFi7 � �. �■ � v � e ■. � A dl� s ■ ELGIN CENTRAL AREA Elgin, IL + ;`