HomeMy WebLinkAboutORDINANCES-1992-072-O-927/6/92
72-0-92
AN ORDINANCE
Approving the Terms and Authorizing
The City Manager to Execute
a Redevelopment Agreement for the Redevelopment
of the Bell & Howell Property into a Shopping Center
WHEREAS, the City of Evanston has undertaken a program
for the redevelopment of certain property within the City,
pursuant to Illinois Revised Statutes, Chapter 24, Section 11-
74.4-1 et sec., known as the "Tax Increment Allocation
Redevelopment Act," (hereinafter referred to as the "Act"); and
WHEREAS, pursuant to the provisions of the Act, the
• City has enacted a series of ordinances adopting a Tax Increment
Redevelopment Area Redevelopment Plan and Project and designating
a Redevelopment Project Area containing approximately twenty
three (23) acres of land (said entire twenty-three (23) acres is
hereinafter referred to as the Redevelopment Project Area"); and
WHEREAS, Dayton Hudson Corporation and Trident
Development Company (collectively referred to herein as the
"Developer") are the developers of the Howard-Hartrey Shopping
Center ("Center") located on the north side of Howard Street just
east of McCormick Boulevard, and west of Hartrey Street in
Evanston, Illinois; and
WHEREAS, the Developer has proposed a plan to redevelop
land which falls within the Redevelopment Project Area, and the
•
City has determined that said proposed plan is consistent with
and complies with the City's Redevelopment Plan and Redevelopment
Project for the Howard-Hartrey TIF District; and
WHEREAS, the proposed redevelopment of the property is
in the vital and best interest of the City and the general
health, safety and welfare of its citizens and in accordance with
public purposes and the provisions of all applicable laws, and
the new shopping center will create new retail sales tax and
generate economic vitality for the entire southwest area of
Evanston; and
WHEREAS, the Corporate Authorities of the City of
Evanston have reviewed the provisions of this redevelopment •
agreement and have deemed that it is in the best interests of the
City of Evanston to enter into such agreement for redevelopment;
and
WHEREAS, implementation of the redevelopment plan for
the Bell & Howell property is in the best interests of the City
of Evanston.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the City Manager be and is hereby
authorized and directed to execute a
redevelopment agreement governing the redevelopment of the Bell &
Howell Property which is in substantial conformity with the
redevelopment agreement marked as Exhibit A, attached hereto and
2 •
0.1
incorporated herein by reference. The City Manager is authorized
to execute said redevelopment agreement only after its execution
by each of the other parties to the agreement and upon receipt of
an executed copy of the real estate contract between Dayton
Hudson and Bell & Howell pertaining to Dayton Hudson's purchase
of property in order to develop a new shopping center.
SECTION 2: All ordinances or parts of ordinances
in conflict herewith are hereby repealed.
SECTION 3: 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: , 1992
Adopted: S- -ZlilgLe, L , 1992
ATT
! C' y Clerk
A�proved <.s to orm:
} � 1
Corperation Counsel
Approved:
3
Mayor pro -r�a-At
, 1992
E