HomeMy WebLinkAboutRESOLUTIONS-1982-028-R-82I
5/21/82
28-R-82
A RESOLUTION
Indicating an Intent to Use Tax Increment
Financing for Development of a Certain -Area
in Evanston
WHEREAS, under Chapter 24, Section 11-74.4-1, et seq,, Illinois
Revised Statutes, which Sections are known as the "Real Property 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, redevelop
meat 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 adop'ting'of a redevelop-
ment plan which plan contains a commitment to use public funds; and,
WHEREAS, prior to the adoption of a redevelopment plan, redevelop-
. ,
P ment project and designation of a redevelopment area, it is necessary and
,desirable for the City Council to determine the feasibility of tax increment
ifinancing and determine whether conditions exist from which the City Council
may make a finding as to the existence of a blighted area or the existence of
i;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 Emerson Street, Elgin Road, Sherman Avenue, Clark Street,
• I
0rrington Avenue, Davis Street, Oak Avenue, Church Street, and Ridge Avenue
eland shown in Exhibit A hereto attached and made a part of this resolution
!!which may be designated as a redevelopment project area, to qualify as a
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conservation or blighted area; and,
i
ii
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5/21 /82 ' .
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
i
;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
y is utilized pursuant to said Act as one of potential redevelopment tools,
NOW, THEREFORE, BE IT RESOLVED as follows:
SECTION l: Redevelopment of the above -described area pursuant to
tax increment financing in accordance with the
provisions of the "Real Property Tax Increment Allocation Redevelopment Act",
• is feasible and the City intends that said Act be utilized as may be
,appropriate as one of the redevelopment tools for redevelopment of the
i,above-described area, or such portion thereof and such additional contiguous
i.area as may be determined.
�I
t 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 24, Section 11-74.4-3(h).
If SECTION 3: The above -described area contains factors which may
support a finding that the area qualifies as a
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'conservation area within the meaning of the Illinois Municipal Code, Chapter 24,
• !,Section 11-74.4-2(a).
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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.
ATTEST:
C i t y C 1 k
Adopted: 1982
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REVISED NOV. 1977