HomeMy WebLinkAboutOrd 6624 05/03/2022 The Village of Mount Prospect, Cook County, Illinois approving a certain technical change to the elgibility study and repart for the South Mount Prospect Tax Increment Financing District Pursuant to 65 ILCS 5/11-74.4-5(a)ORDINANCE NO. 6624
AN ORDINANCE OF THE VILLAGE OF MOUNT PROSPECT, COOK
COUNTY, ILLINOIS APPROVING A CERTAIN TECHNICAL CHANGE TO THE
ELIGIBILITY STUDY AND REPORT FOR THE SOUTH MOUNT PROSPECT TAX
INCREMENT FINANCING DISTRICT PURSUANT TO 65 ILCS 5/11-74.4-5(a)
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, pursuant to the Tax Increment Allocation Redevelopment Act,
65 ILCS 5/11-74.4-1 et sec/. ("TIF Act"), the Village authorized a study in
regard to designating a redevelopment project area for the Village's South Mount
Prospect Tax Increment Financing District ("TIF District"); and
WHEREAS, on February 16, 2022, the Village announced the availability of
the draft redevelopment pian and project for the TIF District ("TIF Plan"), with said TIF
Plan containing an eligibility study and report for the TIF District, addressing
the tax increment financing eligibility of the area proposed for designation as the
redevelopment project area for the TIF District ("Redevelopment Project Area"); and
WHEREAS, 65 ILCS 5/11-74.4-5(a) provides in relevant part as follows,
relative to changes to the draft TIF Pian document and eligibility study therein,
"At the public hearing or at any time prior to the adoption by the
municipality of an ordinance approving a redevelopment plan, the
municipality may make changes in the redevelopment plan. [... ] Changes
which do not (1) add additional parcels of property to the proposed
redevelopment project area, (2) substantially affect the general land uses
proposed in the redevelopment plan, (3) substantially change the nature of
or extend the life of the redevelopment project, or (4) increase the number
of inhabited residential units to be displaced from the redevelopment
project area, as measured from the time of creation of the redevelopment
project area, to a total of more than 10, may be made without further
hearing, provided that the municipality shall give notice of any such
changes by mail to each affected taxing district and registrant on the
interested parties registry [... ] and by publication in a newspaper of
general circulation within the affected taxing district. Such notice by mail
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and by publication shall each occur not later than 10 days following the
adoption by ordinance of such changes."
and
WHEREAS, the following technical change needs to be made to the eligibility
study in the TIF Plan prior to its approval by ordinance by the Village President and
Board of Trustees:
Pae 10 Section 3: Presence of Structures Belovu Minimum Code Standards:.
In the second paragraph, change "2017" to "2022."
("TIF Plan Change"); and
WHEREAS, the Village President and Board of Trustees desire to approve the
TIF Plan Change;
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE 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': Approval of TIF Plan Change. That the TIF Plan Change is
hereby approved, and the eligibility study in the TIF Plan shall be so revised prior to
formal adoption of the TIF Plan by ordinance.
SECTION 3: Notice of TIF Plan Change. That notice of the TIF Plan Change
shall be provided by publication and by mail as provided for ill 55 Il_CS 5/11-74.4-5(a),
with a copy of the final TIF Plan to accompany the notices that are mailed to the taxing
districts that will be affected by the TIF District.
SECTION 4: 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
unenforceability of such Section, paragraph or provision shall not affect any of the
remaining provisions of this Ordinance.
SECTION : Repeal. That all ordinances, resolutions, motions or parts thereof
in conflict with this Ordinance shall be and the same are hereby repealed.
SECTION : Effect. That this Ordinance shall be in full force and effect upon its
adoption, approval and publication in pamphlet form as provided by law.
AYES: Filippone, Gens, Matuszak, Pissarreck, Rogers, Saccotelli
NAYS: None
ABSENT: None
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PASSED AND APPROVED by me thArd day of May, 2022.
ul M. HoefeA, ViF4ge President
ATTEST:
Karen Agoranos, Mage Clerk
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