HomeMy WebLinkAboutORDINANCES-2006-055-O-06•
4/3/2006
55-0-06
AN ORDINANCE
Authorizing the City Manager to
Execute the Howard Street Redevelopment
Agreement with the City of Evanston and
Howard Station ^ LLC
WHEREAS, pursuant to the terms of a Redevelopment Plan entitled "The
Howard and Ridge Tax Increment Redevelopment Plan and Redevelopment Project",
which was adopted on January 26, 2004 as Ordinance 1-0-04, (hereinafter referred to
as the "Redevelopment Plan"), the City designated a certain area within its municipal
limits for redevelopment and revitalization including the development of residential and
• commercial properties. The site -proposed for the redevelopment and revitalization that
is the subject of this Agreement (hereinafter referred to as the "Developer Parcel") is
legally described in Exhibit A-1, of attachment marked as R.A. and incorporated herein
by reference. The Developer Parcel currently consists of an east -west City alley and a
vacant lot. That portion of the Developer Parcel to be acquired by the Developer from
private parties is legally described in Exhibit A-2 ("Private Parcel") of attachment marked
as R.A. and incorporated herein by reference. That portion of the Developer Parcel to
be acquired by the Developer from the City by virtue of an ordinance of vacation is
legally described in Exhibit A-3 ("City Parcel") of attachment marked as R.A. and
incorporated herein by reference. That portion of the land to be acquired by the City is
legally described in Exhibit A-4 ("New Alley Parcel") of attachment marked as R.A. and
incorporated herein by reference.
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WHEREAS, on January 26, 2004, Ordinance No. 2-0-04 designating the
Howard and Ridge Redevelopment Project Area was adopted. The Developer Parcel
and the New Alley Parcel are within said Area.
WHEREAS, on January 26, 2004, Ordinance No. 3-0-04 confirming tax.
increment financing ("TIF") pursuant to the Tax Increment Allocation Redevelopment
Act (65 1 LCS 5/11-74.4-2 et seq. ).
WHEREAS, the corporate authorities of the City, after due and careful
consideration, have concluded that the development of the Developer Parcel as
provided in this Agreement and in the Redevelopment Plan will further the growth of the
City, facilitate the redevelopment of the Redevelopment Area, improve the environment
of the City, increase the assessed valuation of the real estate situated within the City, •
increase the sales tax revenues- realized by the City, foster increased economic activity
within the City, enable the City to control the development of the Developer Parcel and
otherwise be in the best interests of the City.
WHEREAS, the City, pursuant to the terms of this Agreement, agrees to
provide assistance to the Developer, and the Developer and City agree that but for the
assistance and revenue from the City as provided herein, Developer would not and
could not proceed with the development of the Developer Parcel (the "Development")
WHEREAS, the Development pursuant to this Agreement, and the
fulfillment generally of this Agreement, are in the vital and best interests of the City and
the health, safety and welfare of its residents and taxpayers. 0
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the City Manager is hereby authorized and directed to
sign and the City Clerk, hereby authorized and directed to attest on behalf of the City of
Evanston, the Howard Street Redevelopment Agreement which is attached hereto and
made a part hereof as Exhibit R.A.
SECTION 2: That the City Manager is hereby authorized and directed to
negotiate any additional terms and conditions of the Howard Street Redevelopment
Agreement as may be determined are in the best interest of the City.
SECTION 3: That all ordinances or parts of ordinances in conflict
herewith are hereby repealed.
SECTION 4: That this Ordinance shall be in full force and effect from and
after its passage, approval, and publication in the manner provided by law.
Introduced: I ( , 2006 Approved:
Adopted: %�-� �(� �-4 , 2006 4 , 2006
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Lor sine H. Morton
Attest:
C)
Mary r'r`s,
City Cler
t
Approved as to or-n:
1
Herbert D. Hill —
First Assistant Corporation Counsel
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EXHIBIT A-1
LEGAL DESCRIPTION OF DEVELOPER PARCEL
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EXHIBIT A-2
PRIVATE PARCEL
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EXHIBIT A-3
CITY PARCEL
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EXHIBIT A-4
NEW ALLEY PARCEL
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