HomeMy WebLinkAboutOrd 4278 03/05/1991 ORDINANCE NO. 4278
AN ORDINANCE AUTHORIZING THE ACQUISITION OF PROPERTY
THROUGH CONDEMNATION OR OTHERWISE FOR THE AMENDED
TAX INCREMENT REDEVELOPMENT PROJECT AMD REDEVELOPMENT PLAN
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the 5th day of March , 1991
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount P~ospeqt, Illinois, the
llth aay oi March , 1991.
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2/27/91
ORDINANCE NO. 4278
~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, Ill.Rev. Stat. Ch
23, Sec. 11-74-.4-1 et. seq. as amended, of the Illinois Revised
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 Amended Tax
Increment Redevelopment Project and Redevelopment Plan would
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 Amended 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 desireable that the Village shall acquire
a fee simple title to and possession of the real property legally
described as:
Lot E and Lot F in Laudermilk's Subdivision of Lots Three (3),
Four (4), Five (5), Six (6) and Seven (7) in Block Seven in
Mount Prospect, being a Subdivision in Section 12, Township
41 North, Range 11 East of the Third Principal Meridian,
said real property shall hereinafter be referred to as "Subject
cquisition
Prospect Theatre
Page 2 of 2
Property", which property is within the foregoing Amended Tax
Increment RedevelopmentProject 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 the law offices of Burke and Ryan be and is
hereby authorized, empowered and directed to negotiate personally
or through its representatives for and on behalf of the Village
with the owner or owners of the Subject Property for the purchase
thereof by the Village.
SECTION FOUR: That in the event that said law firm or its agents
is unable to agree with the owners of the Subject Property as to
the compensation to be paid therefor, then fee simple title to and
possession of the Subject Property shall be acquired by the Village
of Mount Prospect through condemnation and the law offices of Burke
and Ryan, as attorneys for the Village, is hereby authorized,
empowered and directed to institute proceedings in any court of
competent jurisdiction to acquire fee simple title to and
possession of said Subject Property for said Village in accordance
with the eminent domain laws of the State of Illinois and the
Ordinances of the Village of Mount Prospect.
SECTION FIVE: 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: Arthur, Busse, Corcoran, Floros, Van Geem, Weibel
NAYS: None
ABSENT: None
PASSED and APPROVED this 5~h day of Marrh , 1991.
Village President
ATTEST:
Carol A. Fields
Village Clerk