HomeMy WebLinkAboutOrd 6615 03/01/2022 Calling for a public hearing and a joint review board meeting to consider the designation of a redevelopment project area and the approval of a redevelopment plan and project for the Village of Mount Prospect (South Mount Prospect Tax)ORDINANCE NO. 6615
AN ORDINANCE CALLING FOR
A PUBLIC HEARING AND A JOINT REVIEW BOARD MEETING
TO CONSIDER THE DESIGNATION OF A REDEVELOPMENT PROJECT AREA
AND THE APPROVAL OF A REDEVELOPMENT PLAN AND PROJECT
FOR THE VILLAGE OF MOUNT PROSPECT
(SOUTH MOUNT PROSPECT TAX INCREMENT FINANCING DISTRICT)
WHEREAS, the Village of Mount Prospect ("Village") is a home rule unit of local
government pursuant to Section 6 of Article VII of the Constitution of the State of Illinois,
and has the authority to exercise any power and perform any function pertaining to its
government and affairs; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and
perform any function pertaining to its government and affairs for the protection of the
public health, safety, morals, and welfare; and
WHEREAS, the Village is considering the designation of a redevelopment project
area and the approval of a redevelopment plan and project within the corporate limits of
the Village, to be called the South Mount Prospect Tax Increment Financing District ("TIF
District"), pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-
74.4-1, et seq. ("TIF Act"); and
WHEREAS, on October 5, 2021, the Village Board of the Village approved a
motion authorizing SB Friedman Development Advisors, LLC to prepare an eligibility
study and report, and a redevelopment plan and project relative to the TIF District; and
WHEREAS, on February 14, 2022, the Village published the Tax Increment
Financing (TIF) Interested Parties Registry Notice, as required by Section 11-74.4-5(a) of
the TIF Act, in the Daily Herald; and
WHEREAS, on February 18, 2022, the Village announced the availability of the
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redevelopment plan and project for the proposed TIF District ("TIF Plan"), with said TIF
Plan containing an eligibility report for the proposed TIF District ("Eligibility Report")
addressing the tax increment financing eligibility of the area proposed for the
redevelopment project area ("Redevelopment Project Area"), with said Redevelopment
Project Area being legally described on EXHIBIT A attached hereto and made part hereof;
and
WHEREAS, pursuant to the provisions of Section 11-74.4-5(c) of the TIF Act, prior
to the adoption of the ordinance designating the Redevelopment Project Area and
approving the TIF Plan for the proposed TIF District, the Village must fix a time and place
for a public hearing; and
WHEREAS, pursuant to the provisions of Section 5/11-74.4-5(b) of the TIF Act,
prior to the adoption of the ordinance designating the Redevelopment Project Area and
approving the TIF Plan for the proposed TIF District, the Village must convene a meeting
of the Joint Review Board ("JRB") to consider the proposal; and
WHEREAS, it is the desire of the Village Board of the Village to conduct such
public hearing and to convene said meeting of the JRB;
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees
of the Village of Mount Prospect, Cook County, Illinois, as follows:
SECTION 1: Incorporation. That the recitals above shall be and are hereby
incorporated in this Section 1 as if restated herein..
SECTION 2: Public Hearing Date. That, pursuant to the provisions of the TIF Act,
the Village Board hereby designates the date of Tuesday, April 19, 2022, at the hour of
7:00 p.m. at the Mount Prospect Village Hall, Village Board Room, 50 South Emerson
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Street, Mount Prospect, Illinois 60056, for the purpose of conducting a public hearing to
hear from any interested persons, taxpayers or affected taxing districts regarding the
Redevelopment Project Area and the TIF Plan for the proposed TIF District.
SECTION 3: Availability of Eligibility Report and TIF Plan. That copies of the
Eligibility Report and the TIF Plan for the proposed TIF District have been on file in the
office of the Village Clerk, and have been available for public inspection during regular
Village business hours, since February 18, 2022.
SECTION 4: Comments and Objections. That at the public hearing, any
interested person, taxpayer or affected taxing district may file with the Village Clerk written
comments and/or objections to, and may be heard orally with respect to, any issues
embodied in the notice of public hearing attached hereto..
SECTION 5: JRB Meeting Date. That the JRB for the proposed TIF District shall
meet on Tuesday, March 22, 2022, at 3:00 p.m. at the Mount Prospect Village Hall, Village
Board Room, 50 South Emerson Street, Mount Prospect, Illinois 60056. The JRB shall
review the public record, planning documents, Eligibility Report, Redevelopment Project
Area, the TIF Plan for the proposed TIF District and the proposed ordinances to create
the TIF District. The JRB shall make an advisory recommendation to the Village within
thirty (30) days after the convening of the JRB. A written report shall be issued by the
JRB. The failure of the JRB to submit its report on a timely basis shall not be cause to
delay the public hearing or any other step in the process of designating the
Redevelopment Project Area and approving the TIF Plan for the proposed TIF District. In
the event the JRB does not file a report, it shall be presumed that the JRB has approved
the matters before it. Pursuant to the provisions of Section 11-74.4-5(b) of the TIF Act,
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the JRB shall consist of one (1) public member and one (1) representative from each of
the following taxing districts: Harper College District 512, Township High School District
214, Cook County School District 59, Mount Prospect Park District, the County of Cook,
Elk Grove Township and the Village of Mount Prospect.
SECTION 6: Village JRB Representative. That the Village of Mount Prospect's
representative on the JRB is hereby confirmed as the Village Manager, Michael Cassady,
or his designee.
SECTION 7: Notice of Availability of Eligibility Report and TIF Plan. That a
notice setting forth the availability of the Eligibility Report and the TIF Plan for the
proposed TIF District, and how to obtain a copy thereof, shall be sent by mail to all
residential addresses within seven hundred fifty (750) feet of the boundaries of the
proposed TIF District and to all persons who have registered on the Village's TIF
Interested Parties Registry, within a reasonable time after the adoption of this Ordinance,
as required by Section 11-74.4-5(a) of the TIF Act, with said notice being substantially in
the form attached hereto as EXHIBIT B and made part hereof.
SECTION 8: Notice of Public Hearing and JRB Meeting. That a notice of the
public hearing and the JRB meeting shall be sent by certified mail, return receipt
requested, and a notice of the public hearing shall be given by publication, certified mail,
return receipt requested, and by first class U.S. Mail, all as required by Sections 11-74.4-
5(b) and 11-74.4-6(a), (b) and (c) of the TIF Act, with said notices being substantially in
the form attached hereto as EXHIBIT C and made part hereof.
SECTION 9: Severability. That if any Section, paragraph or provision of this
Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
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unenforceability of such Section, paragraph or provision shall not affect any of the
remaining provisions of this Ordinance.
SECTION 10: Repeal. That all ordinances, resolutions, motions or parts thereof
in conflict with this Ordinance shall be and the same are hereby repealed.
SECTION 11: Effect. That this Ordinance shall be in full force and effect upon its
adoption, approval and publication in pamphlet form as provided by law.
ADOPTED this 1st day of March, 2022, pursuant to a roll call vote as follows:
AYES: Filippone, Gens, Matuszak, Pissarreck, Saccotelli, Rogers
NAYS: None
ABSENT: None
APPROVED by me this 1st day of March, 2022,
Paul Wm. oefe , Village President
(SEAL)
ATTEST:
Karen M. aa-naosrVillage Clerk
514657,_255
EXHIBIT A
REDEVELOPMENT PROJECT AREA LEGAL DESCRIPTION
VILLAGE OF MOUNT PROSPECT
SOUTH MOUNT PROSPECT TAX INCREMENT FINANCING DISTRICT
(see attached)
514657_2
THOSE PARTS OF SECTIONS 14, 22, 23 AND 26, ALL IN TOWNSHIP 41 NORTH,
RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS,
DESCRIBED AS FOLLOWS;
BEGINNING AT THE NORTHEAST CORNER OF THE NORTHEAST QUARTER OF
SAID SECTION 23; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID
NORTHEAST QUARTER TO THE EASTERLY EXTENSION OF THE SOUTH LINE OF
DEMPSTER STREET; THENCE WESTERLY ALONG SAID EXTENSION AND SAID
SOUTH LINE TO THE EAST LINE OF THE WEST 479.60 FEET OF THE NORTH HALF
OF THE NORTHEAST QUARTER OF SAID NORTHEAST QUARTER OF SECTION 23;
THENCE SOUTH ALONG SAID EAST LINE TO THE NORTH LINE OF LOT 2 IN LAKE
CENTER, PLAZA RESUBDIVISION PER DOCUMENT NUMBER 0819145106; THENCE
EASTERLY ALONG SAID NORTH LINE TO THE NORTHEAST CORNER OF SAID LOT
2; THENCE SOUTHERLY THE FOLLOWING (4) COURSES ALONG THE EASTERLY
LINE OF SAID LOT 2; (1) THENCE SOUTH 270.28 FEET TO A BEND POINT; (2)
THENCE WESTERLY 20.07 FEET TO A BEND POINT; (3) THENCE SOUTH 397.41
FEET TO A POINT OF CURVATURE; (4) THENCE SOUTHERLY ALONG A CURVE
CONCAVE WESTERLY HAVING A RADIUS OF 466.07 FEET, AN ARC LENGTH OF
71.51 FEET TO THE SOUTHEAST CORNER OF SAID LOT 2; THENCE WESTERLY
ALONG THE SOUTH LINE OF SAID LOT 2, A DISTANCE OF 422.28 FEET TO THE
NORTHWEST CORNER OF LOT 1 IN SAID LAKE CENTER, PLAZA RESUBDIVISION;
THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 1, A DISTANCE OF 980.71
FEET TO THE NORTHWEST CORNER OF LOT 1 IN LAKE CENTER PLAZA
RESUBDIVISION NO.2 PER DOCUMENT NUMBER 91321871; THENCE SOUTHERLY
ALONG THE WESTERLY LINE OF SAID LOT 1, A DISTANCE OF 187.19 FEET TO THE
NORTH LINE OF ALGONQUIN ROAD; THENCE SOUTHWESTERLY TO THE
NORTHEAST CORNER OF THE WEST HALF OF THE SOUTHEAST QUARTER OF
SAID SECTION 23; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID WEST
HALF 289.0 FEET TO THE EASTERLY EXTENSION OF THE NORTH LINE OF LOT 15
IN ELMHURST-ALGONQUIN INDUSTRIAL PARK -UNIT NO. 8 SUBDIVISION PER
DOCUMENT NUMBER 20409121; THENCE WESTERLY ALONG SAID EASTERLY
EXTENSION AND NORTH LINE OF SAID LOT 15, A DISTANCE OF 341.54 FEET TO
THE NORTHWEST CORNER OF SAID LOT 15; THENCE SOUTHERLY ALONG THE
WEST LINE OF SAID ELMHURST-ALGONQUIN INDUSTRIAL PARK -UNIT NO. 8
SUBDIVISION 539.36 FEET TO THE NORTH LINE OF THE SOUTH 1175.0 FEET OF
THE NORTH THREE-QUARTERS OF THE WEST HALF OF THE SOUTHEAST
QUARTER OF SAID SECTION 23; THENCE EAST ALONG SAID NORTH LINE 4.0
FEET TO THE NORTHWEST CORNER OF DENNES RESUBDIVISION PER
DOCUMENT NUMBER 25198789; THENCE SOUTHERLYALONG THE WEST LINE OF
SAID DENNES RESUBDIVISION 1110.85 FEET TO THE SOUTHWEST CORNER OF
LOT 2 IN SAID DENNES SUBDIVISION; THEN EASTERLY ALONG THE SOUTH LINE
OF SAID LOT 2, A DISTANCE OF 339.52 FEET TO SAID EAST LINE OF THE WEST
HALF OF THE SOUTHEAST QUARTER; THENCE SOUTHERLY ALONG SAID EAST
LINE OF THE WEST HALF TO THE SOUTH LINE OF OAKTON STREET; THENCE
WESTERLY ALONG SAID SOUTH LINE OF OAKTON STREET TO THE SOUTHERLY
EXTENSION OF THE EAST LINE OF LOT 2 IN GARLAND C. RICHARDSON'S
514657_2 7
SUBDIVISION PER DOCUMENT NUMBER 16662336; THENCE NORTHERLY ALONG
SAID EXTENSION AND SAID EAST LINE OF LOT 2 TO THE NORTHEAST CORNER
OF SAID LOT 2; THENCE WESTERLY ALONG THE NORTH LINE OF SAID LOT 2 TO
THE EASTERLY LINE OF SAID 1-90 TOLL ROAD; THENCE NORTHWESTERLY
ALONG SAID EASTERLY LINE TO THE SOUTH LINE OF ABACUS CONSOLIDATION
OF LOTS 3 AND 4 PER DOCUMENT NUMBER 08009531; THENCE EASTERLY
ALONG SAID SOUTH LINE AND THE SOUTH LINE OF BUSSE ROAD INDUSTRIAL
PARK SUBDIVISION PER DOCUMENT 904723385 TO THE WEST LINE OF BUSSE
ROAD; THENCE NORTHERLY ALONG SAID WEST LINE OF BUSSE ROAD TO THE
WESTERLY EXTENSION OF THE NORTH LINE OF LOT 1 IN PLAZA UNITED
RESUBDIVISION OF LOT 1 PER DOCUMENT NUMBER 96489523; THENCE THE
FOLLOWING (3) COURSES ALONG SAID EXTENSION AND NORTH LINE; (1)
THENCE EAST ALONG SAID EXTENSION AND NORTH LINE TO A BEND POINT; (2)
THENCE SOUTHEASTERLY 116.13 FEET TO A BEND POINT; (3) THENCE
SOUTHEASTERLY 353.13 FEET TO THE MOST SOUTHERLY CORNER OF LOT 2 IN
SAID PLAZA UNITED RESUBDIVISION; THENCE THE FOLLOWING (4) COURSES
ALONG THE EASTERLY LINE OF SAID LOT 2; (1) THENCE NORTHEASTERLY 52.09
FEET; (2) THENCE NORTH 170 FEET; (3) THENCE EASTERLY 39 FEET; (4) THENCE
NORTH 250.43 FEET TO THE NORTHEAST CORNER OF SAID LOT 2; THENCE
NORTHERLY ALONG THE NORTHERLY EXTENSION OF SAID EASTERLY LINE OF
LOT 2 TO THE NORTH LINE OF DEMPSTER STREET; THENCE EASTERLY ALONG
SAID NORTH LINE OF DEMPSTER STREET TO THE NORTHERLY EXTENSION OF
THE EAST LINE OF LOT 1 IN BRIARWOOD BUSINESS CENTER SUBDIVISION PER
DOCUMENT NUMBER 0627931120; THENCE SOUTHERLY ALONG SAID
NORTHERLY EXTENSION AND SAID EAST LINE OF LOT 1 TO THE SOUTH LINE OF
LOT 2 IN LINNEMAN'S DIVISION PER DOCUMENT NUMBER 15716544; THENCE
EASTERLY ALONG SAID SOUTH LINE OF LOT 2 TO THE EAST LINE OF THE WEST
HALF OF THE NORTHEAST QUARTER OF SAID SECTION 23; THENCE NORTHERLY
ALONG SAID EAST LINE TO THE SOUTHEAST CORNER OF THE WEST HALF OF
THE SOUTHEAST QUARTER OF SAID SECTION 14; THENCE NORTHERLY ALONG
THE EAST LINE OF SAID WEST HALF OF THE SOUTHEAST QUARTER OF SECTION
14 TO THE NORTHEAST CORNER OF PICKWICK COMMONS SUBDIVISION PER
DOCUMENT NUMBER 20563555; THENCE WESTERLY ALONG THE NORTH LINE
OF SAID PICKWICK COMMON SUBDIVISION AND THE NORTH LINE OF LOT 1 IN
SAID LINNEMAN'S DIVISION TO THE WEST LINE OF SAID WEST HALF OF THE
SOUTHEAST QUARTER SECTION 14; THENCE NORTH ALONG SAID WEST LINE
TO THE SOUTHERLY LINE OF THE COMMONWEALTH EDISON'S RIGHT-OF-WAY;
THENCE NORTHEASTERLY ALONG SAID SOUTHERLY LINE TO A BEND POINT;
THENCE CONTINUING EAST ALONG SAID SOUTHERLY LINE TO THE EAST LINE
OF SAID SOUTHEAST QUARTER OF SECTION 14; THENCE SOUTHERLY ALONG
SAID EAST LINE TO THE PLACE OF BEGINNING.
514657_2 8
EXHIBIT B
NOTICE OF THE AVAILABILITY OF
THE ELIGIBILITY REPORT AND REDEVELOPMENT PLAN AND PROJECT
RELATIVE TO THE PROPOSED SOUTH MOUNT PROSPECT
TAX INCREMENT FINANCING DISTRICT
Notice is hereby given to you, in that you reside at a residential address within
seven hundred fifty (750) feet of the boundary of the Village of Mount Prospect's proposed
South Mount Prospect Tax Increment Financing District, or have registered your name
on the Village of Mount Prospect's Tax Increment Financing Interested Parties Registry,
that the Eligibility Report and the Redevelopment Plan and Project for the Village of Mount
Prospect's proposed South Mount Prospect Tax Increment Financing District are
available for your review. Copies of said Eligibility Report and Redevelopment Plan and
Project may be obtained from Michael Cassady, Village Manager for the Village of Mount
Prospect, 50 South Emerson Street, Mount Prospect, Illinois 60056, between the hours
of 8:30 a.m. and 5:00 p.m., Monday through Friday, except holidays, and on the Village's
website at https://www.mountprospect.org/SouthMPTIF.
VILLAGE OF MOUNT PROSPECT
Karen Agoranos
Village Clerk
5146572 9
EXHIBIT C
NOTICE OF PUBLIC HEARING AND JOINT REVIEW BOARD MEETING
TO CONSIDER THE DESIGNATION OF THE REDEVELOPMENT PROJECT AREA
FOR THE PROPOSED SOUTH MOUNT PROSPECT
TAX INCREMENT FINANCING DISTRICT AND THE APPROVAL
OF A REDEVELOPMENT PLAN AND PROJECT IN RELATION THERETO
Notice is hereby given that a public hearing will be held on Tuesday, April 19, 2022,
at 7:00 p.m. at the Mount Prospect Village Hall, Village Board Room, 50 South Emerson
Street, Mount Prospect, Illinois 60056 ("Public Hearing"), in regard to the proposed
designation of a redevelopment project area ("Redevelopment Project Area"), and the
proposed approval of a redevelopment plan and project ("Redevelopment Plan and
Project") in relation thereto, for the proposed South Mount Prospect Tax Increment
Financing District ("TIF District"), pursuant to the provisions of the "Tax Increment
Allocation Redevelopment Act," 65 ILCS 5/11-74.4-1, et seq., as amended ("TIF Act").
The boundary of the Redevelopment Project Area for the proposed TIF District is
more fully set forth on the legal description attached hereto as EXHIBIT 1 and made part
hereof and the street location map attached hereto as EXHIBIT 2 and made part hereof.
The proposed Redevelopment Plan and Project provides for land acquisition and
assembly, improvements to the public infrastructure within the proposed Redevelopment
Project Area and for the Village of Mount Prospect ("Village") to implement a set of actions
to promote redevelopment within the proposed Redevelopment Project Area. The
contemplated Village actions include, but are not limited to: acquisition of property and
property interests; site preparation and clearance; demolition; provision of public
infrastructure and related public improvements and rehabilitation of structures; interest
rate write-downs; job training; the encouragement of redevelopment agreements;
assisting in the clean-up of any hazardous waste, hazardous substances or underground
storage tanks as required by State or Federal law where these are a material impediment
to redevelopment; addressing any flooding problems; and improving opportunities for
further development and redevelopment within the TIF District. The Village would realize
the goals and objectives of the Redevelopment Plan and Project through public finance
techniques including, but not limited to, tax increment allocation financing.
Copies of the Eligibility Report and the Redevelopment Plan and Project have been
on file with the Village since February 18, 2022, and are currently on file and available for
public inspection between the hours of 8:30 a.m. and 5:00 p.m., Monday through Friday,
except holidays, at the office of Michael Cassady, Village Manager for the Village of Mount
Prospect, at 50 South Emerson Street, Mount Prospect, Illinois 60056, and on the
Village's website at https://www.mountprospect.org/SouthMPTIF. Copies of the Eligibility
Report and the Redevelopment Plan and Project are enclosed with the copies of this
Notice that are being mailed to the affected taxing districts and the Illinois Department of
Commerce and Economic Opportunity. Michael Cassady, Village Manager for the Village
514657,2 10
of Mount Prospect may be contacted for further information, at the address above or by
telephone at (847) 392-6000.
Pursuant to the TIF Act, the Joint Review Board for the proposed TIF District
("JRB") is being convened to review the public record, planning documents, Eligibility
Report and the proposed ordinances approving the Redevelopment Project Area and the
Redevelopment Plan and Project for the proposed TIF District. Pursuant to the TIF Act,
the JRB shall consist of one (1) public member and one (1) representative from each of
the following taxing districts: Harper College District 512, Township High School District
214, Cook County School District 59, Mount Prospect Park District, the County of Cook,
Elk Grove Township and the Village of Mount Prospect.
Pursuant to the TIF Act, the meeting of the JRB will be held on Tuesday, March
22, 2022 at 3:00 p.m. at the Mount Prospect Village Hall, Village Board Room, 50 South
Emerson Street, Mount Prospect, Illinois 60056. Those taxing districts with
representatives on the JRB are hereby notified of said JRB meeting. The JRB's
recommendation relative to the Redevelopment Project Area and Redevelopment Plan
and Project for the proposed TIF District shall be advisory and non-binding, and shall be
adopted by a majority vote of those members of the JRB that are present and voting, and
submitted to the Village within thirty (30) days after the first convening of the JRB. Failure
of the JRB to submit its report on a timely basis shall not delay the Public Hearing, nor
shall it delay any other step in the process of designating the Redevelopment Project
Area or approving the Redevelopment Plan and Project for the proposed TIF District.
Prior to and at the April 19, 2022 Public Hearing, all interested persons, affected
taxing districts and the Illinois Department of Commerce and Economic Opportunity may
file with the Village Clerk written comments to and may be heard orally with respect to
any issues regarding the proposed Redevelopment Project Area and Redevelopment
Plan and Project for the proposed TIF District. Written comments are invited and can be
sent in advance of the Public Hearing to the Mount Prospect Village Clerk, 50 South
Emerson Street, Mount Prospect, Illinois 60056. The Public Hearing may be adjourned
by the Village Board without further notice other than a motion to be entered upon the
minutes of the Public Hearing, fixing the time and place of the subsequent Public Hearing.
Mailed and Published by order of the
Corporate Authorities of the Village of Mount Prospect,
Cook County, Illinois
Karen Agoranos, Village Clerk
5146572 11
EXHIBIT 1
LEGAL DESCRIPTION, STREET LOCATION AND PINS
FOR THE SOUTH MOUNT PROSPECT
TAX INCREMENT FINANCING DISTRICT
THOSE PARTS OF SECTIONS 14, 22, 23 AND 26, ALL IN TOWNSHIP 41 NORTH,
RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS,
DESCRIBED AS FOLLOWS;
BEGINNING AT THE NORTHEAST CORNER OF THE NORTHEAST QUARTER OF
SAID SECTION 23; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID
NORTHEAST QUARTER TO THE EASTERLY EXTENSION OF THE SOUTH LINE OF
DEMPSTER STREET; THENCE WESTERLY ALONG SAID EXTENSION AND SAID
SOUTH LINE TO THE EAST LINE OF THE WEST 479.60 FEET OF THE NORTH HALF
OF THE NORTHEAST QUARTER OF SAID NORTHEAST QUARTER OF SECTION 23;
THENCE SOUTH ALONG SAID EAST LINE TO THE NORTH LINE OF LOT 2 IN LAKE
CENTER, PLAZA RESUBDIVISION PER DOCUMENT NUMBER 0819145106; THENCE
EASTERLY ALONG SAID NORTH LINE TO THE NORTHEAST CORNER OF SAID LOT
2; THENCE SOUTHERLY THE FOLLOWING (4) COURSES ALONG THE EASTERLY
LINE OF SAID LOT 2; (1) THENCE SOUTH 270.28 FEET TO A BEND POINT; (2)
THENCE WESTERLY 20.07 FEET TO A BEND POINT; (3) THENCE SOUTH 397.41
FEET TO A POINT OF CURVATURE; (4) THENCE SOUTHERLY ALONG A CURVE
CONCAVE WESTERLY HAVING A RADIUS OF 466.07 FEET, AN ARC LENGTH OF
71.51 FEET TO THE SOUTHEAST CORNER OF SAID LOT 2; THENCE WESTERLY
ALONG THE SOUTH LINE OF SAID LOT 2, A DISTANCE OF 422.28 FEET TO THE
NORTHWEST CORNER OF LOT 1 IN SAID LAKE CENTER, PLAZA RESUBDIVISION;
THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 1, A DISTANCE OF 980.71
FEET TO THE NORTHWEST CORNER OF LOT 1 IN LAKE CENTER PLAZA
RESUBDIVISION NO.2 PER DOCUMENT NUMBER 91321871; THENCE SOUTHERLY
ALONG THE WESTERLY LINE OF SAID LOT 1, A DISTANCE OF 187.19 FEET TO THE
NORTH LINE OF ALGONQUIN ROAD; THENCE SOUTHWESTERLY TO THE
NORTHEAST CORNER OF THE WEST HALF OF THE SOUTHEAST QUARTER OF
SAID SECTION 23; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID WEST
HALF 289.0 FEET TO THE EASTERLY EXTENSION OF THE NORTH LINE OF LOT 15
IN ELMHURST-ALGONQUIN INDUSTRIAL PARK -UNIT NO. 8 SUBDIVISION PER
DOCUMENT NUMBER 20409121; THENCE WESTERLY ALONG SAID EASTERLY
EXTENSION AND NORTH LINE OF SAID LOT 15, A DISTANCE OF 341.54 FEET TO
THE NORTHWEST CORNER OF SAID LOT 15; THENCE SOUTHERLY ALONG THE
WEST LINE OF SAID ELMHURST-ALGONQUIN INDUSTRIAL PARK -UNIT NO. 8
SUBDIVISION 539.36 FEET TO THE NORTH LINE OF THE SOUTH 1175.0 FEET OF
THE NORTH THREE-QUARTERS OF THE WEST HALF OF THE SOUTHEAST
QUARTER OF SAID SECTION 23; THENCE EAST ALONG SAID NORTH LINE 4.0
FEET TO THE NORTHWEST CORNER OF DENNES RESUBDIVISION PER
DOCUMENT NUMBER 25198789; THENCE SOUTHERLY ALONG THE WEST LINE OF
SAID DENNES RESUBDIVISION 1110.85 FEET TO THE SOUTHWEST CORNER OF
514657,_2 12
LOT 2 IN SAID DENNES SUBDIVISION; THEN EASTERLY ALONG THE SOUTH LINE
OF SAID LOT 2, A DISTANCE OF 339.52 FEET TO SAID EAST LINE OF THE WEST
HALF OF THE SOUTHEAST QUARTER; THENCE SOUTHERLY ALONG SAID EAST
LINE OF THE WEST HALF TO THE SOUTH LINE OF OAKTON STREET; THENCE
WESTERLY ALONG SAID SOUTH LINE OF OAKTON STREET TO THE SOUTHERLY
EXTENSION OF THE EAST LINE OF LOT 2 IN GARLAND C. RICHARDSON'S
SUBDIVISION PER DOCUMENT NUMBER 16662336; THENCE NORTHERLY ALONG
SAID EXTENSION AND SAID EAST LINE OF LOT 2 TO THE NORTHEAST CORNER
OF SAID LOT 2; THENCE WESTERLY ALONG THE NORTH LINE OF SAID LOT 2 TO
THE EASTERLY LINE OF SAID 1-90 TOLL ROAD; THENCE NORTHWESTERLY
ALONG SAID EASTERLY LINE TO THE SOUTH LINE OF ABACUS CONSOLIDATION
OF LOTS 3 AND 4 PER DOCUMENT NUMBER 08009531; THENCE EASTERLY
ALONG SAID SOUTH LINE AND THE SOUTH LINE OF BUSSE ROAD INDUSTRIAL
PARK SUBDIVISION PER DOCUMENT 904723385 TO THE WEST LINE OF BUSSE
ROAD; THENCE NORTHERLY ALONG SAID WEST LINE OF BUSSE ROAD TO THE
WESTERLY EXTENSION OF THE NORTH LINE OF LOT 1 IN PLAZA UNITED
RESUBDIVISION OF LOT 1 PER DOCUMENT NUMBER 96489523; THENCE THE
FOLLOWING (3) COURSES ALONG SAID EXTENSION AND NORTH LINE; (1)
THENCE EAST ALONG SAID EXTENSION AND NORTH LINE TO A BEND POINT; (2)
THENCE SOUTHEASTERLY 116.13 FEET TO A BEND POINT; (3) THENCE
SOUTHEASTERLY 353.13 FEET TO THE MOST SOUTHERLY CORNER OF LOT 2 IN
SAID PLAZA UNITED RESUBDIVISION; THENCE THE FOLLOWING (4) COURSES
ALONG THE EASTERLY LINE OF SAID LOT 2; (1) THENCE NORTHEASTERLY 52.09
FEET; (2) THENCE NORTH 170 FEET; (3) THENCE EASTERLY 39 FEET; (4) THENCE
NORTH 250.43 FEET TO THE NORTHEAST CORNER OF SAID LOT 2; THENCE
NORTHERLY ALONG THE NORTHERLY EXTENSION OF SAID EASTERLY LINE OF
LOT 2 TO THE NORTH LINE OF DEMPSTER STREET; THENCE EASTERLY ALONG
SAID NORTH LINE OF DEMPSTER STREET TO THE NORTHERLY EXTENSION OF
THE EAST LINE OF LOT 1 IN BRIARWOOD BUSINESS CENTER SUBDIVISION PER
DOCUMENT NUMBER 0627931120; THENCE SOUTHERLY ALONG SAID
NORTHERLY EXTENSION AND SAID EAST LINE OF LOT 1 TO THE SOUTH LINE OF
LOT 2 IN LINNEMAN'S DIVISION PER DOCUMENT NUMBER 15716544; THENCE
EASTERLY ALONG SAID SOUTH LINE OF LOT 2 TO THE EAST LINE OF THE WEST
HALF OF THE NORTHEAST QUARTER OF SAID SECTION 23; THENCE NORTHERLY
ALONG SAID EAST LINE TO THE SOUTHEAST CORNER OF THE WEST HALF OF
THE SOUTHEAST QUARTER OF SAID SECTION 14; THENCE NORTHERLY ALONG
THE EAST LINE OF SAID WEST HALF OF THE SOUTHEAST QUARTER OF SECTION
14 TO THE NORTHEAST CORNER OF PICKWICK COMMONS SUBDIVISION PER
DOCUMENT NUMBER 20563555; THENCE WESTERLY ALONG THE NORTH LINE
OF SAID PICKWICK COMMON SUBDIVISION AND THE NORTH LINE OF LOT 1 IN
SAID LINNEMAN'S DIVISION TO THE WEST LINE OF SAID WEST HALF OF THE
SOUTHEAST QUARTER SECTION 14; THENCE NORTH ALONG SAID WEST LINE
TO THE SOUTHERLY LINE OF THE COMMONWEALTH EDISON'S RIGHT-OF-WAY;
THENCE NORTHEASTERLY ALONG SAID SOUTHERLY LINE TO A BEND POINT;
THENCE CONTINUING EAST ALONG SAID SOUTHERLY LINE TO THE EAST LINE
514657_2 13
OF SAID SOUTHEAST QUARTER OF SECTION 14; THENCE SOUTHERLY ALONG
SAID EAST LINE TO THE PLACE OF BEGINNING.
Street Location: the TIF District includes properties and rights of way in the Village of
Mount Prospect generally bounded by Kopp Park to the north, Busse Road to the west,
Oakton Street to the south, and Elmhurst Road to the east north of Dempster Street, with
the eastern boundary of the TIF District being west of Elmhurst Road south of Dempster
Street.
Property Index Numbers-,
0823100018
0823102009
0823300049
0823101026
0823200051
0823202008
0823300053
0823300057
0823101014
0823202009
0823300054
0823101009
0823200052
0823202013
0823301003
0823101057
0823101015
0823202017
0823301006
0823101056
0823101016
0823202022
0823301007
0823300022
0823101017
0823202023
0823301008
0823102008
0823101020
0823202024
0823301009
0823101046
0823101024
0823202025
0823202041
0823202039
0823101032
0823202032
0823400004
0823202007
0823101033
0823300006
0823400008
0823401033
0823101034
0823202034
0823101035
0823300050
0823101036
0823300051
0823400015
0823101063
0823101037
0823202035
0823400011
0823201007
0823101038
0823202036
0823400016
0823201018
0823101041
0823202037
0823400017
0823201020
0823300047
0823202038
0823300055
0823201080
0823100012
0823202042
0823400009
0823201081
0823101044
0823101060
0823400018
0823201082
0823101045
0823202044
0823400019
0823201083
0823100020
0823300017
0823400020
0823201084
0823101047
0822401019
0823101048
0814401018
0823101051
0823300018
0823400021
0814401019
0823101055
0823300024
0823400022
0814403015
0823101058
0823300025
0823300023
0814403016
0823100021
0823300026
0823101064
0814403021
0823101059
0823101052
0823101061
0814403024
0823101062
0823300027
0823102011
0814403029
0823300007
0823300028
0823300058
0814403030
0823102005
0823300029
0823202046
0823203042
0823202050
0823300030
0823202047
0823102006
0823300031
0823400010
0823102007
0823300036
0823401004
514657_2 14
EXHIBIT 2
STREET LOCATION MAP FOR THE MOUNT PROSPECT
SOUTH MOUNT PROSPECT TAX INCREMENT FINANCING DISTRICT
(see attached)
5146572 15
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