HomeMy WebLinkAboutORDINANCES-2019-119-O-199/21 /2019
119-0-19
AN ORDINANCE OF THE CITY OF EVANSTON,
COOK COUNTY, ILLINOIS, ADOPTING TAX INCREMENT
ALLOCATION FINANCING FOR THE FIRST AMENDED
HOWARD AND RIDGE REDEVELOPMENT PROJECT AREA
WHEREAS, it is desirable and in the best interest of the citizens of the
City of Evanston, Cook County, Illinois (the "City"), for the City to implement tax
increment allocation financing pursuant to the Tax Increment Allocation Redevelopment
Act, Division 74.4 of Article 11 of the Illinois Municipal Code, as amended (the "Act");
and
WHEREAS, the City has heretofore approved an amended redevelopment
plan and project (the "First Amended Redevelopment Plan and Project") as required by
the Act by passage of an ordinance and has heretofore designated an amended
redevelopment project area (the "Frist Amended Redevelopment Project Area") as
required by the Act by the passage of an ordinance and has otherwise complied with all
other conditions precedent required by the Act,
NOW, THEREFORE, !BE IT ORDAINED by the Mayor and City Council of
the City of Evanston, Cook County, Illinois, as follows:
SECTION 1. Tax Increment Financing Adopted. That tax increment
allocation financing is hereby adopted to pay redevelopment project costs as defined in
the Act and as set forth in the First Amended Redevelopment Plan and Project within
the Area as legally described in EXHIBIT A attached hereto and incorporated herein as
if set out in full by this reference. The general street location for the First Amended
Redevelopment Project 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 in EXHIBIT C attached hereto and incorporated herein as if set out in full by
this reference.
SECTION 2. Allocation of Ad Valorem Taxes. That pursuant to the Act,
the ad valorem taxes, if any, arising from the levies upon taxable real property in the
First Amended Redevelopment Project 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 that 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 First Amended Redevelopment Project Area shall be
allocated to, and when collected, shall be paid by the county collector to the respective
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 that is attributable to the increase
in the current equalized assessed valuation of each lot, block, tract, or parcel of real
property in the First Amended Redevelopment Project Area shall be allocated to, and
when collected, shall be paid to the municipal treasurer, who shall deposit said taxes
into a special fund, hereby created, and designated the "First Amended Howard and
Ridge 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. That 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 and Effective Date. That all ordinances,
resolutions, motions, or orders in conflict herewith shall be, and the same hereby are,
repealed to the extent of such conflict, and this Ordinance shall be in full force and
effective immediately upon its passage by the Corporate Authorities and approval as
provided by law.
AYES q
NAYS (7
ABSENT
Introduced: W ver\ber It , 2019 Approved:
Adopted: I.i ovl oZS , 2019 �Ce�i� /� , 2019
Stephen . Hag y, or
Attest:
Eoloam 4o 6ome:z,, DOVLA� C}y Ckaw
Approved as to fo
Michelle L. Masoncup, Corporation
Counsel
EXHIBIT A
LEGAL DESCRIPTION
FIRST AMENDED REDEVELOPMENT PROJECT AREA
EXHIBIT B
The Redevelopment Project Area (the "RPA") RPA is generally bounded
on the north by various parcels that front Howard Street and Chicago Avenue, on the
east by the City of Evanston's (the "City") boundaries and the Chicago Transit Authority
(CTA) Red Line, on the south by City boundaries and on the west by Ashland Avenue.
The RPA contains mixed residential uses, retail/commercial properties and institutional
uses.
EXHIBIT C
MAP OF
FIRST AMENDED REDEVELOPMENT PROJECT AREA