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Home My WebLink AboutORDINANCES-1984-152-O-8412/7/84 i 152-0-84 AN ORDINANCE Adopting and Approving a Tax Increment Financing Redevelopment Plan and Redevelopment Project • WHEREAS, the City of Evanston, Cook County, Illinois +i I' desires to implement municipal real property tax increment l Ij allocation redevelopment financing as authorized by the Real • Property Tax Increment Allocation Redevelopment Act (Chapter 24, Sections 11-74.4-1 et sea., of the Illinois Revised I Statutes hereinafter called "the Act"), in connection with a proposed redevelopment plan and redevelopment project, within the boundaries of the said City of Evanston, as hereinafter described in this Ordinance; and WHEREAS, pursuant to Section 11-74.4-5 of the Act a public hearing was held on November 26, 1984 at the Council Chambers, Evanston. Civic Center, Evanston; and WHEREAS, said public hearing dealt with a proposed redevelopment plan, redevelopment project and a specified redevelopment project area within an area generally bounded by Emerson Street and Elgin Road on the north, Sherman Avenue and jBenson Avenue on the east, Davis Street and Clark Street on the �j south, and the Chicago and North Western Railroad on the west, it I� all in the City of Evanston; and WHEREAS, due notice in respect to said hearing was given pursuant to Sections 11-74.4-5 and 11-74.4-6 of the Act, said notice having been given to the appropriate public taxing I districts by certified mail on October 12, 1984; and by 1! publication on November 1, 1984, and November 8, 1984; and by certified mail to all taxpayers of record in the proposed iredevelopment area on November 15, 1984; and WHEREAS, the Mayor and City Council have reviewed the • i; information concerning the area presented at the public hearing Ij and have reviewed other studies and is generally informed of the conditions of the area in the proposed Redevelopment Project Area; and I II 152-0-84 ' WHEREAS, the Mayor and City Council have reviewed the i , conditions pertaining to lack of private investment in the proposed Redevelopment Project Area to determine whether i private development would take place in the proposed • Redevelopment Project Area as a whole without the adoption of I j the proposed Redevelopment Plan; and i I WHEREAS, the Mayor and City Council have reviewed the conditions pertaining to real property in the proposed Redevelopment Project Area to determine whether contiguous parcels of real property and improvements thereon in a proposed I Redevelopment Project Area would be substantially benefited by j I the proposed Redevelopment Project improvements; and ! ii WHEREAS, the Mayor and City Council have reviewed the � Ii� �I proposed Redevelopment Plan and Project and Comprehensive Plan l for development of the municipality as a whole to determine whether the proposed Redevelopment Plan and Project conform to the Comprehensive Plan of the City; and WHEREAS, the Mayor and City Council of the City of • I Evanston now deems it appropriate to approve the proposed i project and plan to begin to initiate measures as rapidly as ' possible, for the promotion and protection of the health, safety, morals and welfare of the residents of the City of Evanston. NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Evanston, Cook County, Illinois: i SECTION 1: FINDINGS: The City Council of the City of Evanston hereby make the following findings: it (a) The area constituting the proposed Redevelopment Project Area in the City of Evanston, Illinois, is described in "EXHIBIT A" attached hereto and incorporated herein by reference. (b) There exist conditions which cause the area proposed to be designated as a Redevelopment Project Area • to be classified as a Conservation Area as defined in' ' Section 11-74.4-3(b) of the Act. (c) The proposed Redevelopment Area Project on the I whole has not been subject to growth and development through investment by private enterprise and would not be ;i reasonably anticipated to be developed without the -2- 152-0-84 • • a..,.ption of the Redevelopment Plan. (d) The Redevelopment Plan and Redevelopment Project conform to the Comprehensive Plan for the development of the municipality as a whole. (e) The parcels of real property in the proposed Redevelopment Project Area are contiguous and only those contiguous parcels of real property and.improvements thereon which will be substantially benefited by the proposed Redevelopment Project improvement are included in the proposed Redevelopment Project Area. (f) The estimated date for final completion of the Redevelopment Project is January 1, 1997. (g) The cbligations issued to finance Redevelopment project costs may be issued in one or more series bearing interest -at such rate or rates as the corporate authorities of the Village shall determine by ordinance. Such obligations shall bear such date or dates and mature at such time or times not exceeding twenty (20) years from their respective dates, and not more than twenty-three (23) years from the date of adoption hereof, as the corporate authorities may designate. SECTION 2: APPROVAL OF PLAN AND PROJECT: The Redevelopment Plan and Redevelopment Project which were the subject matter of the hearing held on November 26, 1984 is hereby adopted and approved. A copy of the Redevelopment Plan and Redevelopment Project marked "EXHIBIT B" is attached hereto and made a part hereof by reference thereto. SECTION 3: All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 4: This ordinance shall be in full force and effect from and after its passage, approval, and publication in the manner provided by law. Introduced: ,(aec,rx y&L /7 1984. Adopted: ' /Q-a-,t.�q 2 198S. v Approved: ATTEST: City Clerk A roved as to fo m: Corporation Counsel ��C�� 19 8X / yor -3- Exhibit "A" LJ 4 A tract of land consisting of Lots and Blocks or parts thereof and streets and alleys of Blocks 1, 2, and 3 in the West part of the N.W. ; of Section 18, Blocks 6, 7, 8 and 18 in the East part of the N.W. a of Section 18, and Block 66 in the East part of the S.W_ i of Section 18, all in the Village of Evanston, Section lE, Township 41 North, Range14:, East of the Third Principal Meridian, in the City of Evanston, County of Cook, State of Illinois and bounded as follows: Beginning at a point at the intersection of the cen- ter line of Church Street and the East line of Benson • Avenue, thence North along the East line of Benson Avenue to the South line of Clark Street, thence East along the South line of Clark Street' to the East line of Sherman ;avenue, thence North along the East line of Sherman Avenue to the North line of Elgin Road, thence Northwesterly along the North line of Elgin Road to the North line of Emerson Street, thence West along the North line of Emerson Street to the East line of Ridge Avenue, thence South along the East line of Ridge Avenue to the West line of the Chicago and North Western Railroad right-of-way, thence South- easterly along said West right-of-way line to the South line. of Davis Street, thence East along the South line of Davis Street to the East line of Benson Avenue, thence North along the East line of Benson Avenue to the center line of Church Street, said point being the point of be- ginning, all in the N.W. .land the S.W. a of Section 18, Township 41 North, Range 14, East of the Third Principal Meridian, in the City of Evanston, County of Cook, State of Illniois. •