HomeMy WebLinkAboutOrd 5583 08/15/2006
ORDINANCE NO. 5583
AN ORDINANCE OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY,
ILLINOIS, DESIGNATING THE AMENDMENT #3 TO THE DOWNTOWN TIF
NO.1 REDEVELOPMENT PROJECT AREA OF SAID VILLAGE A
REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT
ALLOCATION REDEVELOPMENT ACT
Passed and approved by
the President and Board of Trustees
the 15TH day of August, 2006
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois,
the 16th day of August, 2006
Ordinance No. 5583
AN ORDINANCE OF THE VILLAGE OF MOUNT PROSPECT,
COOK COUNTY, ILLINOIS, DESIGNATING THE AMENDMENT #3
TO THE DOWNTOWN TIF NO.1
REDEVELOPMENT PROJECT AREA OF SAID
VILLAGE A REDEVELOPMENT PROJECT AREA PURSUANT
TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
WHEREAS, it is desirable and in the best interest of the citizens of the Village of Mount
Prospect, Cook County, Illinois (the "Village"), for the Village to implement tax increment
allocation financing pursuant to the Tax Increment Allocation Redevelopment Act, Division 74.4
of Article 11 of the Illinois Municipal Code, as amended (the "Act"), for proposed amendment
#3 to the redevelopment plan and redevelopment project (the "Plan and Project") within the
municipal boundaries of the Village and within a proposed redevelopment project area (the
"Area") described in Section 1 of this Ordinance; and
WHEREAS, the Corporate Authorities have heretofore by ordinance amended the Plan
and Project, which Plan and Project were identified in such ordinance and were the subject,
along with the Area designation hereinafter made, of a public hearing held on February 7, 2006,
and it is now necessary and desirable to designate the Area as a redevelopment project area
pursuant to the Act.
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.
Area Designated. That the Area, as legally described III Exhibit A
attached hereto and incorporated herein as if set out in full by this reference, is hereby designated
as a redevelopment project area pursuant to Section 11-74.4-4 of the Act. The general street
location for the Area is described in Exhibit B attached hereto and incorporated herein as if set
out in full by this reference. The map of the Area is depicted on Exhibit C attached hereto and
incorporated herein as if set out in full by this reference.
Section 2.
Invalidity of Any Section. 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 3.
Superseder and Effective Date. That all ordinances, resolutions, motions,
or orders in conflict herewith shall be, and the same hereby are, repealed to the extent of such
conflict, and this Ordinance shall be in full force and effect immediately upon its passage by the
Corporate Authorities and approval as provided by law.
ATTACHMENTS:
EXHIBIT A - Legal Description
EXHIBIT B - General Street Location
EXHIBIT C - Map of Redevelopment Project Area
PASSED this 15th day of August, 2006.
AYES 6 NAYS 0 ABSENT 0
APPROVED~~ttI~
LLAGE PMSIDENT
ATTEST:
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VILLAGE CLE
Co:/Mount Prospect/Ordinance/Ordinance Designating 11.15.05
LEGAL DESCRIPTION
Legal Description of Downtown TIP No.1 Redevelopment Project Area, As Amended is as follows:
Beginning at the intersection of the east right-of-way line of Main Street, State of Illinois Route 83, with
the north right-of-way line of Central Road, thence easterly along said north right-of-way line to a point
of intersection with the extension of the west property line of Lots 1 through 11 of Block 5 in Busse and
Wille's Resubdivision in Mount Prospect, thence southerly along the extension of the west property line
of Lots 1 through 11 of Block 5 in Busse and Wille's Resubdivision in Mount Prospect to the north
right-of-way line of Busse Avenue, thence easterly along the north right-of-way line of Busse Avenue to
a point of intersection with the extension of the east property line of Lots 1 through 8 of Block 11 of
Busse and Wille's Resubdivision in Mount Prospect, thence southerly along the extension ofthe east
property line of Lots 1 through 8 of Block 11 of Busse and Wille's Resubdivision in Mount Prospect to
the southeast comer of Lot 8 of Block 11 of Busse and Wille's Resubdivision in Mount Prospect; thence
easterly along the south property line of Lot 17 of Block 11 of Busse and Wille's Resubdivision in
Mount Prospect extended to a point of intersection with the east right-of-way line of Elm Street, thence
southerly along the east right-of-way line of Elm Street to the north right-of-way line of Evergreen
Avenue; thence easterly along the north right of-way line of Evergreen Avenue to a point of intersection
with the extension of the west property line of Lots 1 through 21 of Block 20 of Mount Prospect
Subdivision in Section 12-41-1 1, recorded September 2, 1874, thence southerly along the extension of
the west property line of Lots 1 through 21 of Block 20 of Mount Prospect Subdivision in Section 12-
41-1 1, recorded September 2, 1874 to the northwest comer of Lot 1 of Bruce's Resubdivision in Mount
Prospect, thence easterly along the north property line of Lot 1 of Bruce's Resubdivision in Mount
Prospect extended to a point of intersection with the east right-of-way line of Owen Street, thence
southerly along the east right-of-way line of Owen Street extended to a point of intersection with the
southerly right-of-way line of Northwest Highway, US Rode 14, thence northwesterly along the
southerly right-of-way line of Northwest Highway, US Route 14 to a point of intersection with the north
right-of-way line of Central Road; thence easterly along the north right-of-way line of Central Road to
the southwest comer of Lot 1 of Trapani's Resubdivision in Mount Prospect, thence northerly along the
west property line of Trapani's Resubdivision in Mount Prospect to the northwest comer of Lot 1 of
Trapani's Resubdivision in Mount Prospect, thence easterly along the north property line of Lot 1 of
Trapani's Resubdivision in Mount Prospect extended to a point of intersection with the east right of-way
line of Main Street, State of Illinois Route 83; thence southerly along the east right-of-way line of Main
Street, State of Illinois Route 83 to the point of beginning at the point of intersection of the east right-of-
way line of Main Street, State of Illinois Route 83, with the north right-of-way line of Central Road, all
located in part ofthe Northeast Quarter and the Northwest Quarter of Section 12, and the Northeast
Quarter of Section 11 all in Township 41 North, Range 11 East of the Third Principal Meridian, and in
part of the Southwest Quarter and the Southeast Quarter of Section 34, Township 42 North, Range 11
East of the Third Principal Meridian all in Cook County, Illinois.
EXHIBIT B
The existing Downtown TIF No.1 is generally bounded by Northwest Highway on the
south and west, Central Road, Busse A venue and Evergreen Avenue to the north, and Maple
Street and Owen Street to the east.
The proposed amendments (amendment #3) include property generally located at the
southeast comer of Emerson Street and Busse Avenue, and property generally located at
northwest comer of Main Street and Central Road.
EXHIBIT C
MAP OF REDEVELOPMENT PROJECT AREA
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