HomeMy WebLinkAboutOrd 4973 11/04/1998 ORDINANCE NO. 4973
AN ORDINANCE AUTHORIZING THE EXECUTION OF A REAL ESTATE
PURCHASE CONTRACT TO ACQUIRE A PORTION OF DISTRICT NO. 1
REDEVELOPMENT PROJECT AREA IN THE VILLAGE OF MOUNT
PROSPECT, ILLINOIS 6 WEST NORTHWEST HIGHWAY
Passed and approved by
the President and Board of Trustees
the 4th day of November, 1998
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
5th day of November, 1998.
VWL
/4/98
ORDINANCE NO. 4973
AN ORDINANCE AUTHORIZING THE EXECUTION
OF A REAL ESTATE PURCHASE CONTRACT TO ACQUIRE
A PORTION OF DISTRICT NO. 1 REDEVELOPMENT PROJECT AREA
IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS
6 West Northwest Highway
WHEREAS, the Village of Mount Prospect is a municipality which exemises
authority pursuant to Chapter 65, Act 5, Section 11-74.4-4.1 et seq. of the Illinois
Municipal Code as set forth in the Illinois compiled Statutes, known as the "Tax
Increment Allocation Redevelopment Act"; and
WHEREAS, the President and Board of Trustees of the Village of Mount
Prospect did adopt Ordinance No. 4940 entitled "An Ordinance Providing For
The Purchase or Condemnation Of Land For Redevelopment Purposes In The
Village Of Mount Prospect, Cook County, Illinois: 6 West Northwest Highway";
and
WHEREAS, a Real Estate Purchase contract (the "Contract") has heretofore
been submitted to the Village of Mount Prospect with regard to a portion of the
District No. 1 Redevelopment Project Area; and
WHEREAS, the President and Board of Trustees of the Village of Mount
Prospect have reviewed the Contract in substantially the same form and
materially similar to Exhibit "A" which is attached hereto and made a part hereof,
and finds that the Contract is in furtherance of the goals, objectives and purposes
of the District No. 1 Redevelopment Project Area; and
WHEREAS, pursuant to the provisions of Chapter 65, Act 5, Section 11-74.4-4.1
(c) of the Illinois Municipal Code as set forth in the Illinois Compiled Statutes, the
Village of Mount Prospect is authorized to acquire property, real or personal,
within the District No. 1 Redevelopment Project Area by purchase, donation,
lease or eminent domain for the purposes of implementing said redevelopment
project.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY,
ILLINOIS;
Page 2 of 2
6 W. NW Hwy
SECTION ONE: That it is hereby determined that it is necessary, proper and
desirable that the Village of Mount Prospect acquire title to, and possession of,
the real property being the subject of the Real Estate Purchase Contract, which
is to be in substantially the same form and materially similar to Exhibit "A" which
is attached hereto and made a part hereof.
SECTION TWO: That having determined that the said Contract is in the best
interests of the Village of Mount Prospect and find that the Contract is in
furtherance of the goals, objectives and purposes of the District No. 1
Redevelopment Project Area, the Village President and Village Clerk are hereby
authorized to execute the Real Estate Purchase Contract.
SECTION THREE: That the Village President, Board of Trustees, Village Clerk,
Village Manager, Village Attorney, Special Attorneys, officers and employees are
hereby empowered to perform any act necessary to implement, carry out and
give effect to the terms and provisions of said Contract.
SECTION FOUR: That this Ordinance shall be in full force and effect upon its
passage, approval and publication in pamphlet form in the manner provided by
law.
AYES: Clowes, Hoefert, Lohrstorfer, Nocchi, Wilks
NAYS: None
ABSENT: Corcoran
PASSED and APPROVED this 4t~ day of November, 1998.
A'FI'EST:
Vel~a W. Lowe
Village Clerk