G75-85 Ordinance No. G75-85
ORDINANCE AUTHORIZING THE EXECUTION OF REDEVELOPMENT
CONTRACT IN CONJUNCTION WITH THE SOUTH GROVE REDEVELOP-
MENT PLAN IN THE CITY OF ELGIN, ILLINOIS.
WHEREAS, pursuant to a resolution duly adopted by this
City Council on August 16, entitled: "Resolution of the City of
Elgin, Illinois Making Certain Declarations with Respect to the
Proposed South Grove Redevelopment Plan, Setting a Date for a
Public Hearing Concerning the Proposed South Grove Redevelopment
Plan, Redevelopment Project and Redevelopment Project Area and
Providing Preliminary Approval of a Proposed Redevelopment Contract
Relating to a Portion of Said Proposed District with the Estes
Co. , an Arizona General Partnership" (the "Initial Resolution" ) ,
the City Council of the City of Elgin indicated its intention to
implement tax increment allocation financing pursuant to the Real
rProperty Tax Increment Allocation Redevelopment Act, as amended,
constituting Division 74. 4 of Article 11 of the Illinois Municipal
Code (hereafter referred to as the "Act" ) , and declared its
preliminary approval for the findings. of the proposed "South
Grove Redevelopment Plan" submitted by the Elgin Planning Depart-
ment (the "Redevelopment Plan" ) and set the date of August 26,
1985 for a public hearing regarding the proposed Redevelopment
Plan and the Redevelopment Project and the designation of a
Redevelopment Project Area, all as required pursuant to Section
11-74. 4-5 of the Act (the "Public Hearing" ) ;
WHEREAS, the Initial Resolution also declared preliminary
approval to the form of a proposed Redevelopment Contract (the
"Redevelopment Contract" ) to be entered into by the City and the
Estes Corporation, an Arizona General Partnership (the "Redeveloper" )
whereby the Redeveloper would construct on behalf of the City
certain public improvements qualifying as "redevelopment project
costs" as defined in the Act and which public improvements are
described in the Redevelopment Plan;
WHEREAS, the Initial Resolution authorized the Mayor
and other officials of the City to enter into negotiations with
the Redeveloper to finalize the Redevelopment Contract, provided
that such Redevelopment Contract would not be executed in final
form and become binding on the City until final approval is given
by the City Council of the City after the Public Hearing is held
and completed;
WHEREAS, pursuant to Section 11-74. 4-5 of the Act, the
City caused a public hearing to be held and completed relative to
the Redevelopment Plan and Redevelopment Project and the designa-
tion of a Redevelopment Project Area at a meeting of the City
Council held on August 26, 1985 in the City Council Chambers of
the City Hall;
WHEREAS, due notice in respect to such hearing was
given pursuant to Section 11-74.4-5 and 6 of the Act;
WHEREAS, this City Council has been presented with a
form of Redevelopment Contract in substantially final form to be
executed by the City and Estes Homes, an Arizona general partner-
ship; and
WHEREAS, this City Council now desires to give its
final approval of the form of Redevelopment Contract in accordance
with the Initial Resolution.
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF THE CITY OF ELGIN, ILLINOIS, AS FOLLOWS:
Section 1. The Redevelopment Contract in substantially
the form presented at this meeting is hereby approved for execution
and delivery by the Mayor and City Clerk; subject only to such
changes as shall be approved by the Mayor.
Section 2 . This Ordinance shall become effective in
the manner provided by law.
Adopted this 9th day of September, 1985 by roll call
vote as follows:
Ayes: Councilmen Andersen, Gilliam, Moylan,
Van De Voorde, Waters and Mayor Verbic.
Nays: None.
Abstained: Councilwoman Shales
Absent: None
Approved: September 9 , 1985
sI Richard L. Verbic
Mayor
(SEAL)
Attest:
s/ Marie Yearman
City Clerk
CT/trl
#13815
9/6/85
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CERTIFICATE
I, Marie Yearman, City Clerk of the City of Elgin,
Illinois, hereby certify that the foregoing ordinance entitled:
"Ordinance Authorizing the Execution of a Redevelopment Contract
in Conjunction with the South Grove Redevelopment Plan in the
City of Elgin, Illinois, " is a true copy of an original ordinance
which was duly adopted by the recorded affirmative votes of a
majority of the members of the City Council of the City at a
meeting thereof which was duly called and held at 8: 00 p.m. on
September 9, 1985 in the City Council Chambers at the City Hall,
and at which a quorum was present and acting throughout, and that
said copy has been compared by me with the original ordinance
signed by the Mayor, and recorded in the Ordinance Book of the 4!)
City and that it is a correct transcript thereof and of the whole
of said ordinance, and that said ordinance has not been altered,
amended, repealed or revoked, but is in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the seal of the City this 9th day of September
1985 .
s/ Marie Yearman
City Clerk
(SEAL)
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