HomeMy WebLinkAboutRESOLUTIONS-2003-005-R-0301/29/2003
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A RESOLUTION
Indicating an Intent to Use Tax Increment
Financing for Development of a Certain
Area in Evanston on Howard Street from
Ridge Avenue East to the City Limits
WHEREAS, under Chapter 65, Section 5/11-74.4-1, et seq., Illinois Compiled
Statutes, which Sections are known as the "Tax Increment Allocation Redevelopment
Act," (hereinafter referred to as "The Act"), the City of Evanston is empowered to
undertake the redevelopment of blighted or conservation areas through tax increment
financing; and pursuant to said Act, the City is empowered to incur redevelopment
project costs; and
WHEREAS, pursuant to said Act, to implement tax increment financing it is
necessary for the City Council to adopt a redevelopment plan, redevelopment project,
designate a redevelopment area on the basis of findings that the area qualifies as a
blighted area or a conservation area, and make a finding that the redevelopment project
area on the whole has not been subject to growth and development through investment
by private enterprise and would not reasonably be anticipated to be developed without
the adopting of a redevelopment plan which contains a commitment to use public funds;
and
WHEREAS, prior to the adoption of a redevelopment plan, redevelopment project
• and designation of a redevelopment area, it is necessary and desirable for the City
Council to determine the feasibility of tax increment financing and determine whether
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conditions exist from which the City Council may make a finding as to the existence of a •
blighted area or the existence of a conservation area; and
WHEREAS, the City of Evanston has undertaken preliminary analyses to
determine whether findings may be made in respect to the general area bounded by the
centerline of Howard Street on the South, the centerline of Ridge Avenue on the West,
the centerline of the alley immediately north of Howard Street on the North, and the
West property line of the CTA Right -of -Way on the East. The stated general area is
shown in Exhibit A hereto attached and made part of this resolution which may be
designated as a redevelopment project area, to qualify as a conservation or blighted
area; and
WHEREAS, it is deemed to be necessary, essential and in the best interests of
the citizens of the City of Evanston to employ tax increment financing and use the •
proceeds of obligations to acquire necessary real property or finance necessary public
improvements located within the area shown in Exhibit A hereto attached; and
WHEREAS, the preliminary studies show that the area is characterized and
influenced by a combination of factors by which the area may be eligible for tax
increment financing; and
WHEREAS, redevelopment may be feasible if tax increment financing is utilized
pursuant to said Act as one of the potential redevelopment tools,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: Redevelopment of the above -described area in accordance with •
the provisions of the "Tax Increment Allocation Redevelopment Act," is feasible, and the
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• City intends that said Act be utilized as may be appropriate as one of the redevelopment
tools for redevelopment of the above -described area, or such portion thereof and such
additional contiguous area as may be determined.
SECTION 2: A proposed redevelopment plan and project should be developed
for the above -described area or such portion thereof and said area should be
considered for designation as a "redevelopment project area" as defined in the Illinois
Municipal Code, Chapter 65, Section 5/11-74.4-3 (p).
SECTION 3: The above -described area contains factors which may support a
finding that the area qualifies as a blighted or conservation area within the meanings of
the Illinois Municipal Code, Chapter 65, Section 5/11-74.4-2 (a).
SECTION 4: The redevelopment project area on the whole has not been subject
• to growth and development through investment by private enterprise and will not
reasonably be anticipated to be developed without the adoption of a redevelopment
plan.
SECTION 5: That this Resolution shall be in full force and effect immediately
upon its passage and approval as provided by law.
t ;1
Lorraine H. Morton, Mayor
ATTEST:
V�tX�;ierk
Adopted:,�! , 2003
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