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63-R-90
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
"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, redevelopment 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, The City did adopt a redevelopment plan,
project and area on the basis of findings that the area
qualifies as a conservation area, on June 25, 1990; and,
WHEREAS, prior to the adoption of a redevelopment
plan, amended redevelopment project and designation of an
amended redevelopment area, it is necessary and desirable for
the City Council to determine the feasibility of tax increment
financing 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 a conservation area; and,
WHEREAS, the City of Evanston has undertaken analyses
• to determine whether findings may be made in respect to the
general area bounded by Main Street, Oakton, Pitner, Hartrey and
the City boundaries and shown in Exhibit A hereto attached and
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63-R-90
made a part of this resolution which may be designated as an
amended 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
amended area is characterized and influenced by a combination of
factors by which the amended 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,
NOW, THEREFORE, BE IT RESOLVED as follows:
SECTION 1: Redevelopment of the above -described area
in accordance with the provisions of the
-0 i "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 may be determined.
SECTION 2: A proposed amended 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 an amended
"redevelopment project area" as defined in the Illinois
Municipal Code, Chapter 24, Section 11-74.4-3.
SECTION 3: The above -described area contains factors
which may 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).
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63-R-90
SECTION 4: The amended redevelopment project area on
the whole has not been subject to growth
I
and development through investment by private enterprise and
will not reasonably be anticipated to be developed without the
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adoption of an amended redevelopment plan.
SECTION 5: That this Resolution shall be in full force
i
and effect immediately upon its passage and
approval as provided by law.
Introduced: , 1990
Adopted: .�/��'��� 5 , 1990
ATTEST:
City Clerk
Approved as to form:
Corporation Counsel
•
Approved:G�G�i�%L/i, 19 9 0
Mayor
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Exhibit SOUTHWEST TIF DISTRICT
Resolution 63=R-9f..
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