HomeMy WebLinkAboutOrd 4628 03/16/1994 ORDINANCE NO. 4628
AN ORDINANCE AUTHORIZING THE ACQUISITION OF PROPERTY
THROUGH CONDEMNATION OR OTHERWISE FOR THE AMENDED
TAX INCREMENT REDEVELOPMENT PROJECT AND REDEVELOPMENT PLAN
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the 16th day of March , 1994
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
16th day of March , 1994.
/caf
2/22/94
ORDINANCE NO. 4628
AN ORDINANCE AUTHORIZING THE ACQUISITION OF PROPERTY
THROUGH CONDEMNATION OR OTHERWISE FOR THE AMENDED
TAX INCREMENT REDEVELOPMENT PROJECT AND REDEVELOPMENT PLAN
WHEREAS, the Board of Trustees of the Village of Mount Prospect, Cook County, Illinois
have heretofore adopted Ordinance No. 4011 entitled "An Ordinance Approving the
Amended Tax Increment Redevelopment Project and Redevelopment Plan" and
Ordinance No. 4012 entitled "An Ordinance Designating the Amended Tax Increment
Redevelopment Project Area", both of which are incorporated herein in their entirety; and
WHEREAS, the Board of Trustees of the Village of Mount Prospect have determined that
the Amended Tax Increment Redevelopment Project and Redevelopment Plan which
were the subject of public hearings is in the best interests of the residents of the Village
of Mount Prospect and is a public purpose; and
WHEREAS, the Village of Mount Prospect is empowered, pursuant to the Tax Increment
Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq. as amended, of the Illinois
Compiled Statutes, to acquire by purchase, donation, lease or eminent domain real
property within the redevelopment project area and for public parking or redevelopment;
and
WHEREAS, the implementation of the aforementioned Tax Increment Redevelopment
Project and Redevelopment Plan will attract to the Village of Mount Prospect additional
commercial ventures, increase business for commercial ventures currently established
within the Village, strengthen the property and non-property tax and income bases, and
would provide jobs for Village residents.
NOW, THEREFORE, BE iT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS, IN
THE EXERCISE OF ITS HOME RULE POWERS, AS FOLLOWS:
SECTION ONE: That it is hereby determined that the Tax Increment Redevelopment
Project and Redevelopment Plan, previously adopted, be established, maintained,
controlled, managed and operated within the Amended Tax increment Redevelopment
Project Area as described in Ordinance No. 4012 and that said Amended Tax Increment
Redevelopment Project and Redevelopment Plan be occupied, improved, used and
developed in a manner necessary and convenient for public use.
SECTION TWO: That under the authority vested in the corporate authorities of the
Village of Mount Prospect through the statutes of the State of Illinois, it is hereby
determined that pursuant to the Amended Tax Increment Redevelopment Project and
Redevelopment Plan it is necessary and desirable that the Village acquire a fee simple
title to and possession of the real property legally described as:
Lot Twenty-Two (22), in Block Five (5) in Busse & Wille's Resubdivision in
Mount Prospect in the West Half (1/2) of Section 12, Township 41 North,
Range 11, East of Third Principal Meridian, Cook County, Illinois
commonly known as One South Emerson Street, Mount Prospect, Illinois
said real property shall hereinafter be referred to as "Subject Property", which property
cquisition - TiF
One South Emerson Street
Page 2 of 2
is within the foregoing Amended Tax Increment Redevelopment Project Area, as
amended, and is necessary, required and needed to achieve the objectives of the
foregoing Amended Tax Increment Redevelopment Project and Redevelopment Plan and
which property lies wholly within the limits of the Village of Mount Prospect.
SECTION THREE: That this Ordinance shall be in full force and effect from and after its
passage, approval and publication in pamphlet form as provided by law.
AYES: Clowes, Corcoran, Hendricks, Skowron, Wilks
NAYS; Hoefert
ABSENT: None
PASSED and APPROVED this 16th day of Narch ,1994.
ATTEST:
Carol A. Fields
Village Clerk