HomeMy WebLinkAboutOrd 6291 12/20/2016 Approving a certain technical change to the Proposed Redevelopment Plan and Project Document for the Prospect and Main TIFORDINANCE NO. 6291
AN ORDINANCE APPROVING A CERTAIN TECHNICAL CHANGE TO THE
PROPOSED REDEVELOPMENT PLAN AND PROJECT DOCUMENT FOR
THE PROSPECT AND MAIN TAX INCREMENT FINANCING DISTRICT
PURSUANT TO 65 ILCS 5/11-74.4-5(a)
WHEREAS, pursuant to the Tax Increment Allocation Redevelopment Act, 65
ILCS 5/11-74.4-1 et seq. (the "TIF Act"), the Village of Mount Prospect (the "Village")
authorized a study in regard to designating a redevelopment project area for the
Village's Prospect and Main Tax Increment Financing District (the "TIF District"); and
WHEREAS, on October 4, 2016, the Village announced the availability of the
draft redevelopment plan and project for the TIF District (the "TIF Plan"), with said TIF
Plan containing an eligibility study for the TIF District, addressing the tax increment
financing eligibility of the area proposed for designation as the redevelopment project
area for said TIF District; and
WHEREAS, 65 ILCS 5/11-74.4-5(a) provides in pertinent part as follows, relative
to changes to the draft TIF Plan document:
"At the public hearing or at any time prior to the adoption by the
municipality of an ordinance approving a redevelopment plan, the
municipality may make changes in the redevelopment
plan. * * * Changes which do not (1) add additional parcels of property
to the proposed redevelopment project area, (2) substantially affect the
general land uses proposed in the redevelopment plan, (3) substantially
change the nature of or extend the life of the redevelopment project, or (4)
increase the number of inhabited residential units to be displaced from the
redevelopment project area, as measured from the time of creation of the
redevelopment project area, to a total of more than 10, may be made
without further hearing, provided that the municipality shall give notice of
any such changes by mail to each affected taxing district and registrant on
the interested parties registry, ... , and by publication in a newspaper of
general circulation within the affected taxing district. Such notice by mail
and by publication shall each occur not later than 10 days following the
adoption by ordinance of such changes."
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; and
WHEREAS, the following technical change needs to be made to the TIF Plan
prior to its approval by Ordinance by the President and Board of Trustees of the Village,
to correct the boundaries of the TIF District depicted on the maps of the TIF District in
the TIF Plan, in order to conform the maps of the TIF District in the TIF Plan to the legal
description and list of parcels of the TIF District in the TIF Plan:
Maps of TIF District: All of the maps of the TIF District in the TIF Plan (Map 1,
Map 2, Map 3, Map 4A, Map 413, Map 4C, Map 4D, Map 4E, and Map 5 therein)
are hereby revised to reflect the boundaries of the TIF District set forth on the
revised TIF District map attached hereto as EXHIBIT A and made a part hereof.
(the "TIF Plan Change"); and
WHEREAS, the TIF Plan Change was announced at the public hearing held by
the President and Board of Trustees of the Village on December 20, 2016;
NOW, THEREFORE, BE IT ORDAINED, by the Village Board of the Village of
Mount Prospect, Cook County, Illinois, as follows:
SECTION 1: That the TIF Plan Change is hereby approved, and the TIF Plan
shall be so revised prior to formal adoption of the TIF Plan by Ordinance.
SECTION 2: That notice of the TIF Plan Change shall be provided by publication
and by mail as provided for in 65 ILCS 5/11-74.4-5(a), with a copy of the final TIF Plan
to accompany the notices that are mailed to the taxing districts that will be affected by
the TIF District.
SECTION 3: That this Ordinance shall be in full force and effect from and after
its adoption and approval, as provided by law.
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SECTION 4: That if any section, paragraph, clause or provision of this
Ordinance shall be held invalid, the invalidity thereof shall not affect any of the other
provisions of this Ordinance.
SECTION L. That all ordinances or parts of ordinances in conflict herewith are,
to the extent of such conflict, hereby repealed.
ADOPTED this 20th day of December, 2016, pursuant to a roll call vote as
follows:
AYES: Hoefert, Matuszak, Polit, Rogers, Saccotelli, Zadel
NAYS: None
ABSENT: None
APPROVED by me this 20th day of December, 2016.
ATTEST:
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Karen Agoranos, EYeputy Village Clerk
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Arlene A. Juracek, Vill ' e President
Published by me in pamphlet form this 21St day of December, 2016.
4'M a
Karen Agoranos, Deputy Village Clerk
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EXHIBITA
Depiction of the Boundaries
of the Study Area
Mt. Prospect - Proposed Prospect and Main TIF Boundary
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OProposed Boundary
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SB Friedtnaii
October 2016
Proposed Prospect B Main TIF District
Village of Mount Prospect, IL
Development Advisors
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