HomeMy WebLinkAboutRESOLUTIONS-1989-053-R-899/13/89 .':
53-R-89
A RESOLUTION j
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 "Tax Increment Allocation Redeveloprent,
Act," (hereinafter referred to as "The Act")' the City of Evanston is empowered -to ;,> ....
undertake the redevelopment of blightedor conservation, areas through.("I Xj
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't. is
necessary for the City Council to adopt a redevelopment plan, redevelopment--,- ti
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 adopting of a redevelopment plan which plan' '
contains a commitment to use public funds; and,
WHEREAS, prior to the adoption of a redevelopment plan, redevelopment ;•.,• " ` �a
project and designation of a redevelopment area, it is necessary and desirable for the
City Council to determine the feasibility of tax increment financing and determine''
i
whether conditions exist from which the City Council may make'a finding as to,"the '
existence of a blighted area or the existence of a conservation area; and'
WHEREAS, the City of Evanston has undertaken preliminary analyse,s.,'to
determine whether findings may be made in respect to the general area bounded by,
Main Street, Oakton, Pitner and 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 conservation or blighted area; and, '
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 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 is '.'
utilized pursuant to said Act as one of potential redevelopment tools, : sAh = ' -
NOW, THEREFORE, BE IT RESOLVED as follows: '•'",y .;- `
SECTION I: Redevelopment of the above -described area in accordance,. ;
with the provisions of the "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.,
above -described area, or such portion thereof and such additional contiguous area as
Y
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(K).
• SECTION 3: The above -described area contains factors which mayz
support a finding that the area qualifies as a blighted,or
conservation area within the meaning of the Illinois Municipal Code, Chapter 24,
Section 11-74.4-2(a).
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.
.M1
SECTION 5: That this Resolution shall be in full force and effect
immediately upon its passage and approval as provided by law.
Mayor
ATTEST:
CITY CLERK
�'Adopted: i , 1989
29Y75/76