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HomeMy WebLinkAboutOrd 3555 08/20/1985 767V/7 ORDINANCE NO. 3555 AN oRDINANCE DESIGNATING~DISTRICT NO. 1 TAX INCREMENT REDEVELOPMENT PROJECT AREA IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS WHEREAS, the Board of Trustees has heretofore approved and adopted the Redevelopment Plan and Redevelopment Project with respect to which a public nearing was held on July 23, 1985 and it is now necessary and desirable to designate the area referred to in said Plan as a Redevelopment Project Area to be known as the District No. 1 Tax Increment Redevelopment Project Area for the purpose of implementing tax increment financing pursuant to the Real Property Tax Increment Allocation Redevelopment Act, as amended, constituting Division 74.4 of Article 11 of the Illinois Municipal Code (hereinafter referred to as the "Act"); and WHEREAS, the area described in Exhibit A attached to this Ordinance constitutes, in the aggregate, more than 1 1/2 acres and has been determined to be a "conservation area" within the meaning of Section 11-74.4-3(a) of the Act. TRUSTEES FOLLOWS: NOW THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF OF THE vILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS, AS SECTION ONE: The following area described in Exhibit "A" attached hereto is hereby designated as a Redevelopment Project Area pursuant to Section 11-74.4-4 of the Act, and said Redevelopment Project Area shall be known as the District No. 1 Tax Increment Redevelopment Project Area. SECTION TWO: This Ordinance shall be in full force and effect upon it passage by the Board of Trustees of the Village of Mount Prospect, Illinois and approval by the President thereof and publication in pamphlet form. PASSED by the Prospect, Illinois and day of August, 1985. Board of Trustees of the Village of Mount approved by the President thereof this 20th AYES: NAYS: None ASSENT: None Arthur, Farley, Floros, Murauskis, Van Geem, Wattenberg APPROVED: V ILLA~E PRESIDENT ATTEST: VILLAGE CLERK A A'TTACHMENT "A" ~'~ DO%;NTOWN NO. 1 INCREMENT REDEVELOPHENT PRO3ECT AREA LEGAL DESCRIPTION Beginning at the intersection,of the centerline of Main Street, State of Illinois Route 83, with the centerline of Central Road, extended; thence Easterly along said centerline of Centra~ Road, a distance of approximately 570.32 feet to the Northeast corner of Lot 22 of Block 5 in Busse and Wille's Resubdivision in Mount Prospect; thence Southerly along the Eastern property line of Lots ]2, 13, 20, 2], and 22 of said Block 5 in Busse and Wille's Resubdivision in [~ount Prospect, and the Eastern property line of Lot I of ~ount Prospect State Bank Resubdivision No. 3, a distance of approximately 608.74 feet, to the centerline of Busse Avenue; thence Westerly along the centerline of Busse Avenue, a distance of approximately 157.]] feet, to the point of inter- section of the centerline of Busse Avenue with the Eastern right-of-way o'f~ Emerson-Street;C~thence Southerly along said Eastern right-of-way of Emerson Street, a distance of approxi- mately 277.00 feet, to a point at the Northwest corner of Lot ]8 in Block 12 of Buss~ and Wille's Resubdivision in ~ount Prospect; thence Easterly along the Northern property line of said Lot 18, a distance of approximately 157.09 feet, to the Northeast corner of said Lot 18; thence Southerly, a distance of approximately 50.00 feet~ along the~Eastern property line of said Lot 18, to a point at the Northwest corner of Lot A of Corporate Subdivision Number 1, Village of ~ount Prospect; thence Easterly along the Northern property line of said Lot A, a distance of approximately 157.~0 feet, to a point of intersection of said Lot A with the Western right-of-way of l~aple Street; thence Northerly along the Western~ right-of-way of ~aple Street, a distance of approximately 321.88 feet, to a point at the intersection of the Western right-of-way of Maple Street and the Soughern right-of-way of Busse Avenue; thence Easterly along the Southern right-of-way of Busse Avenue, a distance of approximately 223.]2 feet, to a point of intersection with the Eastern property line of Lot 1 in Block ]] of Busse and Wille's Resubdivision in ~ount Prospect; thence Southerly along the Eastern property lines of Lots ] through 8 of Block 11 of Busse and Wille's Resubdivision in [lount Prospect, a distance of approximately 404.36 feet, to a point at the inter- section of the Southeast corner of said Lot 8~ with the Northwest corner of Lot ]6 of Busse's Subdivision of Lot A of Block 1] in Busse and wille's Resubdivision; thence Easterly along the Northern property line of said Lot ]6, a distance of approxi- mately ]90.]0 feet, to a point on the centerline of Elm Street; thence Southerly along said centerline of Elm Street, a distance of approximately ]90.00 feet, to the point of intersection of the centerline of Elm Street, extended, with the Northern right-of- way of Evergreen Avenue; thence Easterly along the Northern right-of-way of Evergreen Avenue, a distance of approximately 567.20 feet, to a point of intersection with the Southwest corner of Lot 5 of the Subdivision of Block 8 of Busse's Eastern Addition to ~ount Prospect, recorded February 1] , ]922; thence Southerly, a distance of approximately 591.00 feet, along the Western property lines of Lots I through 21 of Block 20 of ~ount Prospect Subdivision in Section 12-4]-1], Recorded September 2, ]874, to a point at the intersection of the Southwestern corner of said Lot 2] with the Northern property line of Lot 1 of Bruce's Resubdivision in ~lount Prospect; thence Easterly along the Northern property line of said Lot 1 , a distance of approxi- mately 171.00 feet, to the centerline of Owen Street; thence Southerly along said' centerline of Owen Street, a distance of approximately 255.48 feet, to the point of the intersection of the centerline of Northwest Highway, State of Illinois Route ~4, with the centerline of Owen Street, extended; thence North- westerly along said centerline of Northwest Highway a distance of approximately 2,250 feet to the point of intersection of the centerline of Northwest Highway with the centerline of Hain Street, State of Illinois Route 83, extended; thence Northerly along the centerline of }lain Street a distance of approximately 940 feet to the point of beginning, at the intersection of the centerlines of ~ain Street and Central Road, extended; all located in the Northwest Quarter (]/4), and the Northeast Quarter (]/4) of Section 12, Township 41 North. Range I ? Eas~ of the Third Principal ~leridian, located in the Village of ~lount Prospect~ Elk Grove Township, County of Cook, in the State of Illinois.