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