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HomeMy WebLinkAboutOrd 6763 11/07/2024 Amendments To The Redevelopment Project Area And Tax Increment Redevelopment Plan And Project For South Mount Prospect Tax Increment Financing DistrictORDINANCE NO. 6763 AN ORDINANCE CONVENING THE JOINT REVIEW BOARD AND SETTING THE TIME AND PLACE FOR A PUBLIC HEARING FOR THE APPROVAL OF AMENDMENTS TO THE REDEVELOPMENT PROJECT AREA AND TAX INCREMENT REDEVELOPMENT PLAN AND PROJECT FOR THE SOUTH MOUNT PROSPECT TAX INCREMENT FINANCING DISTRICT WHEREAS, on May 3, 2022, the Village Board passed Ordinance Nos. 6625, 6626, and 6627, approving a redevelopment plan and project ("TIF Plan"), designating a redevelopment project area ("Redevelopment Project Area"), and adopting tax increment financing for the South Mount Prospect Tax Increment Financing District ("SMP TIF'J, all pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. (the "TIF Act'j; and WHEREAS, the Redevelopment Project Area is legally described in Exhibit A attached hereto and made part hereof; and WHEREAS, the Village is considering amendments to the Redevelopment Project Area to add three expansion areas as legally described and depicted in Exhibits B and C, respectively, attached hereto and made a part hereof ("Amended Redevelopment Project Area"); and WHEREAS, the Village authorized SB Friedman Development Advisors, LLC to prepare an amendment to the TIF Plan to add the expansion areas to the boundaries of the SMP TIF ("Amendment to the TIF Plan'); and WHEREAS, the Amendment to the TIF Plan has been on file and available at Village Hall since October 4, 2024; and WHEREAS, on November 4, 2024, the Village published the Tax Increment Financing ("TIP') Interested Parties Registry Notice, as required by Section 11-74.4-5(a) of the TIF Act, in the Daily Herald; and WHEREAS, in order to continue its consideration of the possible approval of the Amended Redevelopment Project Area and Amendment to the TIF Plan, the Village Board has determined that it is in the best interest of the Village and its residents to continue pursuing the consideration of the Amended Redevelopment Project Area and Amendment to the TIF Plan, including: (i) the convening of a meeting of the Joint Review Board; and (ii) the setting of a time and place for a public hearing on the consideration of the amendments to the Redevelopment Project Area and Amendment to the TIF Plan; 4877-1454-9744, v. 3 NOW, THEREFORE, BE IT ORDAINED by the Village 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 1: RECITALS. The foregoing recitals are incorporated into, and made a part of, this Ordinance as findings of the Village Board. SECTION 2: NOTICE OF MEETING OF JOINT REVIEW BOARD. The Joint Review Board previously established for the SMP TIF will meet on Monday, December 2, 2024, at 3:45 p.m. The Village will deliver notice as required by the TIF Act of the time and place of this meeting. The Village's representative on the Joint Review Board is the Village Manager or their designee. SECTION 3: SETTING TIME AND PLACE FOR PUBLIC HEARING. The Village Board hereby establishes Tuesday, January 7, 2025, at 7:00 p.m. as the date and time for a public hearing on the consideration of the Amended Redevelopment Project Area and Amendment to the TIF Plan. The public hearing will be held at Village Hall, 50 S. Emerson Street, Mount Prospect, Illinois. The Village Board reserves the right to continue the hearing to a later date and time without further published notice should a continuance become necessary. SECTION 4: AUTHORIZATION FOR PUBLIC NOTICES AND OTHER ACTION. The Village Board hereby authorizes and directs the Village Manager and the Village Clerk, in consultation with the Village's attorney, to do or cause to be done all things necessary or desirable for purposes of giving the public notice of the January 7, 2025 hearing, including the publication of notice in substantially the form attached to this Ordinance as Exhibit D, and any and all other statutorily required steps precedent to the adoption of the Amended Redevelopment Project Area and Amendment to the TIF Plan. SECTION 5: SEVERABILITY. If any provision of this Ordinance or part thereof is held invalid by a court of competent jurisdiction, the remaining provisions of this Ordinance shall remain in full force and effect, and shall be interpreted, applied, and enforced so as to achieve, as near as may be, the purpose and intent of this Ordinance to the greatest extent permitted by applicable law. SECTION 6: EFFECTIVE DATE. This Ordinance shall be in full force and effect from and after its passage and approval according to law. 2 4877-1454-9744, v. 3 PASSED this 7th day of November, 2024. APPROVED this 7th day of November, 2024. VOTE: AYES: Dante, Filippone, Gens, Grossi, Matuszak, Saccotelli NAYS: None ABSENT: None �j VILLAGE PIS IDE ATTEST; VILLAGE CLERK 3 4877-1454-9744, v. 3 EXHIBIT A 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 4 4877-1454-9744, v. 3 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; THENCENORTHERLY 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; 5 4877-1454-9744, v. 3 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. 0 4877-1454-9744, v. 3 EXHIBIT B Legal Description of Amended Redevelopment Project Area PARCEL 1: THOSE PARTS OF SECTIONS 14, 22, 23, 24 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 EAST ALONG THE NORTH LINE OF LOT 4 IN LINNEMAN'S DIVISION OF PART OF SAID NORTHEAST QUARTER OF SECTION 23, A DISTANCE OF 822 FEET, MORE OR LESS, TO SAID EAST LINE OF THE NORTHEAST QUARTER OF SECTION 23; THENCE SOUTH ALONG SAID EAST LINE TO A POINT 803.01 FEET SOUTH OF SAID NORTHEAST CORNER OF THE NORTHEAST QUARTER OF SECTION 23; THENCE EAST 50 FEET; THENCE SOUTH ALONG A LINE 50 FEET EAST OF AND PARALLEL WITH SAID EAST LINE OF THE NORTHEAST QUARTER 1635 FEET, MORE OR LESS, TO THE EASTERLY EXTENSION OF THE NORTH LINE OF LOT 1 IN SHELL OIL COMPANY RESUBDIVISION PER DOCUMENT NUMBER 87339994; THENCE WESTERLY ALONG SAID EASTERLY EXTENSION AND NORTH LINE 290 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF SAID LOT 1; THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 1, A DISTANCE OF 200 FEET TO THE NORTH LINE OF ALGONQUIN ROAD; THENCE EAST ALONG SAID NORTH LINE AND EASTERLY EXTENSION THEREOF 290 FEET, MORE OR LESS, TO THE NORTHERLY EXTENSION OF A LINE BEING 50 FEET EASTERLY OF AND PARALLEL WITH THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 23; THENCE SOUTH ALONG SAID EXTENSION AND PARALLEL LINE 1660 FEET, MORE OR LESS, TO THE EASTERLY EXTENSION OF THE SOUTH LINE OF MIDWAY DRIVE; THENCE WEST ALONG SAID EASTERLY EXTENSION AND SOUTH LINE THEREOF 515 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF LOT 1 IN NORTHWAY INVESTMENT SUBDIVISION PER DOCUMENT NUMBER T2902421; THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 1, A DISTANCE OF 192 FEET, MORE OR LESS, TO THE SOUTHEAST CORNER OF LOT 1 IN VAVRUS SUBDIVISION PER DOCUMENT NUMBER T3194655; THENCE WEST ALONG THE SOUTH LINE OF SAID LOT 1, A DISTANCE OF 466.35 FEET TO THE SOUTHWEST CORNER OF SAID LOT 1; THENCE NORTH ALONG THE WEST LINE OF SAID LOT 7 4877-1454-9744, v. 3 1, A DISTANCE OF 480 FEET TO THE SOUTH LINE OF LOT 8 IN ELMHURST- ALGONQUIN INDUSTRIAL PARK -UNIT NUMBER 2 SUBDIVISION PER DOCUMENT NUMBER 20409121; THENCE WEST ALONG SAID SOUTH LINE 17 FEET, MORE OR LESS, TO THE SOUTHWEST CORNER OF SAID LOT 8; THENCE NORTH ALONG THE WEST LINE OF SAID LOT 8, A DISTANCE OF 354 FEET, MORE OR LESS, TO THE SOUTH LINE OF CARBOY ROAD; THENCE WEST ALONG SAID SOUTH LINE 146 FEET TO THE NORTHEAST CORNER OF LOT 10 IN SAID ELMHURST- ALGONQUIN INDUSTRIAL PARK -UNIT NUMBER 2 SUBDIVISION; THENCE SOUTH ALONG THE EAST LINE OF SAID LOT 10, A DISTANCE OF 354 FEET TO THE SOUTHEAST CORNER OF SAID LOT 10; THENCE WEST ALONG THE SOUTH LINE OF SAID LOT 10 AND WESTERLY EXTENSION THEREOF 236 FEET TO THE SOUTHERLY EXTENSION OF THE EAST LINE OF LOT 1 IN DENNES RESUBDIVISION PER DOCUMENT NUMBER 25198789; THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND EAST LINE THEREOF 510 FEET, MORE OR LESS, TO THE NORTHEAST CORNER OF SAID LOT 1; THENCE WEST ALONG THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 338 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF SAID LOT 1; THENCE SOUTHERLY ALONG THE WEST LINE OF SAID DENNES RESUBDIVISION 1110.85 FEET TO THE SOUTHWEST CORNER OF LOT 2 IN SAID DENNES SUBDIVISION; THENCE EASTERLY ALONG THE SOUTH LINE OF SAID LOT 2, A DISTANCE OF 339.52 FEET TO THE EAST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 23; THENCE SOUTHERLY ALONG SAID EAST LINE OF THE WEST HALF 695 FEET, MORE OR LESS, TO THE NORTH LINE OF OAKTON STREET; THENCE EAST ALONG SAID NORTH LINE 653 FEET, MORE OR LESS, TO THE NORTHERLY EXTENSION OF THE EAST LINE OF THE WEST 653.3 FEET OF THE NORTH HALF OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 26; THENCE SOUTH ALONG SAID EXTENSION AND EAST LINE THEREOF 710 FEET, MORE OR LESS, TO THE SOUTH LINE OF SAID NORTH HALF OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER; THENCE WEST ALONG SAID SOUTH LINE 653 FEET, MORE OR LESS, TO THE EAST LINE OF LOT 22 IN HIGGINS INDUSTRIAL PARK UNIT THREE SUBDIVISION PER DOCUMENT NUMBER 20022477; THENCE SOUTH ALONG SAID EAST LINE TO THE SOUTHEAST CORNER OF SAID LOT 22; THENCE THE FOLLOWING (2) COURSES ALONG THE SOUTHERLY LINE OF SAID LOT 22; (1) THENCE WESTERLY 272.78 FEET TO A BEND POINT; (2) THENCE NORTHWESTERLY 40.29 FEET TO A POINT ON A CURVE ON THE SOUTHERLY LINE OF WEILER ROAD; THENCE THE FOLLOWING 2 COURSES ALONG SAID SOUTHERLY LINE; (1) THENCE SOUTHWESTERLY ALONG THE ARC OF A CURVE CONCAVE NORTHERLY, HAVING A RADIUS OF 91.0 FEET FOR AN ARC LENGTH OF 71.47 FEET; (2) THENCE WESTERLY 155.85 FEET TO THE EASTERLY LINE OF LOT 11 IN HIGGINS INDUSTRIAL PARK UNIT 2 PER DOCUMENT NUMBER 20022478; THENCE SOUTHEASTERLY ALONG SAID EASTERLY LINE 392.22 FEET TO THE NORTHERLY LINE OF THE 1-90 TOLL ROAD; THENCE NORTHWESTERLY ALONG SAID NORTHERLY LINE 2,760 FEET, MORE E.* 4877-1454-9744, v. 3 OR LESS, TO THE NORTH LINE OF OAKTON STREET; THENCE EASTERLY ALONG SAID NORTH LINE 1,090 FEET, MORE OR LESS, TO THE EAST LINE OF LOT 2 IN GARLAND C. RICHARDSON'S SUBDIVISION PER DOCUMENT NUMBER 16662336; THENCE NORTHERLY ALONG SAID EAST LINE 620.7 FEET 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 1,810 FEET, MORE OR LESS, 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 3,100 FEET, MORE OR LESS, 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 350 FEET, MORE OR LESS, 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 2,960 FEET, MORE OR LESS, 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 NORTHERLY LINE OF THE COMMONWEALTH EDISON'S RIGHT-OF-WAY; THENCE NORTHEASTERLY ALONG SAID NORTHERLY LINE TO A BEND POINT; THENCE CONTINUING EAST ALONG 9 4877-1454-9744, v. 3 SAID NORTHERLY LINE TO THE EAST LINE OF SAID SOUTHEAST QUARTER OF SECTION 14; THENCE SOUTHERLY ALONG SAID EAST LINE TO THE PLACE OF BEGINNING. EXCEPTING THEREFROM THE FOLLOWING SIX (6) DESCRIBED PROPERTIES: LOT 1 IN LAKE CENTER PLAZA NO. 3, A SUBDIVISION OF LOTS 3 TO 7 IN LAKE CENTER PLAZA, A RESUBDIVISION OF PART OF LOT 4 IN LINNEMAN'S DIVISION AND OF LOT 2 IN LAKE CENTER PLAZA RESUBDIVISION 2 IN THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN ACCORDING TO THE PLAT OF RESUBDIVISION RECORDED JULY 16, 2009 AS DOCUMENT 0819145106, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOTS 1 AND 2 IN LAKE CENTER PLAZA RESUBDIVISION NO. 4, BEING A RESUBDIVISION OF LOTS 8, 9, 10 AND 11 IN LAKE CENTER PLAZA, A RESUBDIVISION NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN ACCORDING TO THE PLAT THEREOF RECORDED MARCH 20, 2018 AS DOCUMENT NO. 1807906120, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOT 1 IN LAKE CENTER PLAZA RESUBDIVISION NO. 2, OF PART OF THE NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED JULY 1, 1991, AS DOCUMENT NUMBER 91321871, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOT 13 IN LAKE CENTER PLAZA, BEING A SUBDIVISION OF PART OF LOT 4 IN LINNEMAN'S DIVISION OF THE SOUTH 3/ OF THE EAST HALF OF THE NORTHEAST QUARTER AND THE WEST HALF OF THE NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, AND OF THE SOUTH 477.78 FEET OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 14, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED JULY 1, 1988 AS DOCUMENT NUMBER 88291118, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: THAT PART OF WALL STREET LYING NORTH OF THE NORTH LINE OF ALGONQUIN ROAD AND SOUTH OF THE WESTERLY EXTENSION OF THE SOUTH LINE OF LASALLE STREET, ALL IN THE EAST HALF OF THE NORTHEAST QUARTER OF 10 4877-1454-9744, v. 3 SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOT 1 (EXCEPT THE WEST 130.0 FEET OF LOT 1) IN J.T.BUILDER'S FIRST INDUSTRIAL SUBDIVISION IN PART OF THE SOUTHWEST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. PARCEL 2: THOSE PARTS OF SECTIONS 14,15 AND 22, ALL IN TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF NORTHERLY LINE OF THE 1-90 TOLL ROAD AND 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 410 FEET, MORE OR LESS, TO THE SOUTH LINE OF RICHMOND SUBDIVISION PER DOCUMENT NUMBER 23984749; THENCE WEST ALONG SAID SOUTH LINE 1066 FEET, MORE OR LESS, TO THE EASTERLY LINE OF COMMONWEALTH EDISON'S RIGHT-OF- WAY; THENCE NORTH ALONG SAID EASTERLY LINE 920 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF MANSARD LANE CONDOMINIUMS SUBDIVISION PER DOCUMENT NUMBER 23029108; THENCE EAST ALONG THE NORTH LINE OF SAID MANSARD LANE CONDOMINIUMS SUBDIVISION TO SAID WEST LINE OF BUSSE ROAD; THENCE NORTH ALONG SAID WEST LINE 160 FEET, MORE OR LESS, TO THE SOUTH LINE OF HEWITT'S SUBDIVISION PER DOCUMENT NUMBER 24781151; THENCE WEST ALONG SAID SOUTH LINE 1066 FEET, MORE OR LESS, TO SAID EASTERLY LINE OF COMMONWEALTH EDISON'S RIGHT-OF-WAY; THENCE NORTH ALONG SAID EASTERLY LINE 1,850 FEET, MORE OR LESS, TO THE SOUTHERLY LINE OF ALGONQUIN ROAD; THENCE SOUTHEASTERLY ALONG SAID SOUTHERLY LINE 208 FEET, MORE OR LESS, TO THE WEST LINE OF LOT 2 IN MARCO POLO'S SUBDIVISION PER DOCUMENT NUMBER 21485932; THENCE SOUTH ALONG SAID WEST LINE 200 FEET TO THE SOUTH LINE OF SAID MARCO POLO'S SUBDIVISION; THENCE SOUTHEASTERLY ALONG SAID SOUTH LINE TO SAID WEST LINE OF BUSSE ROAD; THENCE NORTHERLY ALONG SAID WEST LINE OF BUSSE ROAD 500 FEET, MORE OR LESS, TO THE WESTERLY EXTENSION OF THE NORTH LINE OF LOT 1 IN PLAZA UNITED RESUBDIVISION OF LOT 1 PER DOCUMENT NUMBER 96489523; THENCE EAST ALONG SAID EXTENSION TO THE EASTERLY LINE OF SAID BUSSE ROAD; THENCE NORTHERLY ALONG SAID EASTERLY LINE 610 FEET, MORE OR LESS, 11 4877-1454-9744, v. 3 TO THE SOUTHERLY LINE OF COMMONWEALTH EDISON'S RIGHT-OF-WAY; THENCE NORTHEASTERLY ALONG SAID SOUTHERLY LINE 2,800 FEET, MORE OR LESS, TO THE WEST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 14; THENCE NORTH ALONG SAID WEST LINE 213 FEET, MORE OR LESS, TO THE NORTHERLY LINE OF THE COMMONWEALTH EDISON'S RIGHT-OF- WAY; THENCE SOUTHWESTERLY ALONG SAID NORTHERLY LINE AND WESTERLY EXTENSION THEREOF 4,000 FEET, MORE OR LESS, TO THE EAST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 15; THENCE SOUTH ALONG SAID EAST LINE 122 FEET, MORE OR LESS, TO THE NORTH LINE OF SAID ALGONQUIN ROAD; THENCE NORTHWESTERLY ALONG SAID NORTH LINE TO THE NORTHERLY EXTENSION OF THE EAST LINE OF BRIARWOOD DRIVE; THENCE SOUTH ALONG SAID EXTENSION AND WEST LINE OF BRIARWOOD DRIVE TO THE SOUTH LINE OF SAID SOUTHEAST QUARTER OF SECTION 15; THENCE EAST ALONG SAID SOUTH LINE TO THE NORTHWEST CORNER OF THE EAST HALF OF THE NORTHEAST QUARTER OF SAID SECTION 22; THENCE SOUTH ALONG THE WEST LINE OF SAID EAST HALF OF THE NORTHEAST QUARTER TO THE NORTHWEST CORNER OF THE EAST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 22; THENCE SOUTH ALONG THE WEST LINE OF SAID EAST HALF OF THE SOUTHEAST QUARTER 60 FEET, MORE OR LESS, TO SAID NORTHERLY LINE OF THE 1-90 TOLL ROAD; THENCE SOUTHEASTERLY ALONG SAID NORTHERLY LINE TO THE POINT OF BEGINNING. iiK 4877-1454-9744, v. 3 EXHIBIT C r-• s « ♦ -war VILLAGE OF MOUNT PROSPECT -------------- N, i i i N . ............ _.._.._ Original RPA Parcel Expansion Area 1 Parcels F - " Expansion Area Boundary Expansion Area 2 Parcels Village of Mt. Prospect Expansion Area 3 Parcels 13 4877-1454-9744, v. 3 Oakton Street 14 48774454*744.v.3 Expansion Area 2Parce|s Expansion Area ] Parcels FM E L" 0.4 MOao Original RPA Boundary '-- _ _ Expansion Area Boundary MExpansion Area 1 Parcels 14 48774454*744.v.3 Expansion Area 2Parce|s Expansion Area ] Parcels FM E L" EXHIBIT D FORM NOTICE OF PUBLIC HEARING VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS PROPOSED AMENDMENTS TO SOUTH MOUNT PROSPECT TAX INCREMENT FINANCING DISTRICT REDEVELOPMENT AREA AND REDEVELOPMENT PLAN AND PROJECT Notice is hereby given that on January 7, 2025 at 7:00 p.m. in the Village Board Chambers, Village Hall, 50 S. Emerson Street, Mount Prospect, Illinois 60056, a public hearing will be held to consider the approval of proposed amendments to the redevelopment project area and redevelopment plan for the South Mount Prospect TIF District ("SMP TIF') to expand the boundaries by adding three expansion areas ("Amendment to the TIF Plan"). The proposed Amendment to the TIF Plan is on file and available for public inspection at the office of the Village Clerk, Village Hall, 50 S. Emerson Street, Mount Prospect, Illinois 60056. Pursuant to the Amendment to the TIF Plan, the Village proposes to add three expansion areas to the SMP TIF. The boundaries of the current redevelopment project area are set forth in the legal description Exhibit 1 and made part hereof, the boundaries of the proposed amended redevelopment project area are set forth in the legal description attached hereto as Exhibit 2 and made part hereof and the street location map attached hereto as Exhibit 3 and made part hereof. All other parts of the redevelopment plan and project for the SMP TIF, expect as proposed to be amended by the Amended TIF Plan, will remain in effect, including the Village's goals to alleviate blighted area conditions and institute conservation measures therein and to enhance the tax base of the Village and the taxing districts having taxable property therein by utilizing tax increment financing to fund various eligible project costs to stimulate private investment therein. Prior to the date of the hearing, each taxing district having property in the SMP TIF, the Illinois Department of Commerce and Economic Opportunity, and interested persons may submit written comments to the Village, to the attention of the Village Clerk, Village Hall, 50 S. Emerson Street, Mount Prospect, Illinois 60056. The Village Clerk may be contacted for further information, at the address above or by telephone at (847) 392-6000. There is hereby convened a joint review board to consider the proposed Amendment to the TIF Plan and the proposed expanded boundaries of the SMP TIF. The joint review board will consist of a representative selected by each community college district, local elementary school district and high school district or each local community unit school district, park district, library district, township, fire protection district, and county that has the authority to directly levy taxes on the property within the SMP TIF, a representative selected by the Village, and a public member. The meeting of the joint review board will be held on December 2, 2024, at 3:45 p.m. at Village Hall, 50 S. Emerson Street, Mount Prospect, Illinois 60056. At the hearing, all interested persons or affected taxing districts may file written objections with the Village Clerk and may be heard orally with respect to any issues regarding the approval of the Amendment to the TIF Plan. The hearing may be adjourned by the Village President and the Board of Trustees without further notice other than a motion to be entered upon the minutes of the hearing fixing the time and place of the subsequent hearing. 15 4877-1454-9744, v. 3 16 4877-1454-9744, v. 3 /s/ Karen Agoranos Village Clerk Village of Mount Prospect Cook County, Illinois EXHIBIT 1 Le al Description of Existing Redevelopment Project Area 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 17 4877-1454-9744, v. 3 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; THENCENORTHERLY 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; 4877-1454-9744, v. 3 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. ilk 4877-1454-9744, v. 3 EXHIBIT 2 Legal Descri tion of Amended Redevelopment Project Area PARCEL 1: THOSE PARTS OF SECTIONS 14, 22, 23, 24 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 EAST ALONG THE NORTH LINE OF LOT 4 IN LINNEMAN'S DIVISION OF PART OF SAID NORTHEAST QUARTER OF SECTION 23, A DISTANCE OF 822 FEET, MORE OR LESS, TO SAID EAST LINE OF THE NORTHEAST QUARTER OF SECTION 23; THENCE SOUTH ALONG SAID EAST LINE TO A POINT 803.01 FEET SOUTH OF SAID NORTHEAST CORNER OF THE NORTHEAST QUARTER OF SECTION 23; THENCE EAST 50 FEET; THENCE SOUTH ALONG A LINE 50 FEET EAST OF AND PARALLEL WITH SAID EAST LINE OF THE NORTHEAST QUARTER 1635 FEET, MORE OR LESS, TO THE EASTERLY EXTENSION OF THE NORTH LINE OF LOT 1 IN SHELL OIL COMPANY RESUBDIVISION PER DOCUMENT NUMBER 87339994; THENCE WESTERLY ALONG SAID EASTERLY EXTENSION AND NORTH LINE 290 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF SAID LOT 1; THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 1, A DISTANCE OF 200 FEET TO THE NORTH LINE OF ALGONQUIN ROAD; THENCE EAST ALONG SAID NORTH LINE AND EASTERLY EXTENSION THEREOF 290 FEET, MORE OR LESS, TO THE NORTHERLY EXTENSION OF A LINE BEING 50 FEET EASTERLY OF AND PARALLEL WITH THE EAST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 23; THENCE SOUTH ALONG SAID EXTENSION AND PARALLEL LINE 1660 FEET, MORE OR LESS, TO THE EASTERLY EXTENSION OF THE SOUTH LINE OF MIDWAY DRIVE; THENCE WEST ALONG SAID EASTERLY EXTENSION AND SOUTH LINE THEREOF 515 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF LOT 1 IN NORTHWAY INVESTMENT SUBDIVISION PER DOCUMENT NUMBER T2902421; THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 1, A DISTANCE OF 192 FEET, MORE OR LESS, TO THE SOUTHEAST CORNER OF LOT 1 IN VAVRUS SUBDIVISION PER DOCUMENT NUMBER T3194655; THENCE WEST ALONG THE SOUTH LINE OF SAID LOT 1, A DISTANCE OF 466.35 FEET TO THE SOUTHWEST CORNER OF SAID LOT 1; THENCE NORTH ALONG THE WEST LINE OF SAID LOT 20 4877-1454-9744, v. 3 1, A DISTANCE OF 480 FEET TO THE SOUTH LINE OF LOT 8 IN ELMHURST- ALGONQUIN INDUSTRIAL PARK -UNIT NUMBER 2 SUBDIVISION PER DOCUMENT NUMBER 20409121; THENCE WEST ALONG SAID SOUTH LINE 17 FEET, MORE OR LESS, TO THE SOUTHWEST CORNER OF SAID LOT 8; THENCE NORTH ALONG THE WEST LINE OF SAID LOT 8, A DISTANCE OF 354 FEET, MORE OR LESS, TO THE SOUTH LINE OF CARBOY ROAD; THENCE WEST ALONG SAID SOUTH LINE 146 FEET TO THE NORTHEAST CORNER OF LOT 10 IN SAID ELMHURST- ALGONQUIN INDUSTRIAL PARK -UNIT NUMBER 2 SUBDIVISION; THENCE SOUTH ALONG THE EAST LINE OF SAID LOT 10, A DISTANCE OF 354 FEET TO THE SOUTHEAST CORNER OF SAID LOT 10; THENCE WEST ALONG THE SOUTH LINE OF SAID LOT 10 AND WESTERLY EXTENSION THEREOF 236 FEET TO THE SOUTHERLY EXTENSION OF THE EAST LINE OF LOT 1 IN DENNES RESUBDIVISION PER DOCUMENT NUMBER 25198789; THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND EAST LINE THEREOF 510 FEET, MORE OR LESS, TO THE NORTHEAST CORNER OF SAID LOT 1; THENCE WEST ALONG THE NORTH LINE OF SAID LOT 1, A DISTANCE OF 338 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF SAID LOT 1; THENCE SOUTHERLY ALONG THE WEST LINE OF SAID DENNES RESUBDIVISION 1110.85 FEET TO THE SOUTHWEST CORNER OF LOT 2 IN SAID DENNES SUBDIVISION; THENCE EASTERLY ALONG THE SOUTH LINE OF SAID LOT 2, A DISTANCE OF 339.52 FEET TO THE EAST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 23; THENCE SOUTHERLY ALONG SAID EAST LINE OF THE WEST HALF 695 FEET, MORE OR LESS, TO THE NORTH LINE OF OAKTON STREET; THENCE EAST ALONG SAID NORTH LINE 653 FEET, MORE OR LESS, TO THE NORTHERLY EXTENSION OF THE EAST LINE OF THE WEST 653.3 FEET OF THE NORTH HALF OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 26; THENCE SOUTH ALONG SAID EXTENSION AND EAST LINE THEREOF 710 FEET, MORE OR LESS, TO THE SOUTH LINE OF SAID NORTH HALF OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER; THENCE WEST ALONG SAID SOUTH LINE 653 FEET, MORE OR LESS, TO THE EAST LINE OF LOT 22 IN HIGGINS INDUSTRIAL PARK UNIT THREE SUBDIVISION PER DOCUMENT NUMBER 20022477; THENCE SOUTH ALONG SAID EAST LINE TO THE SOUTHEAST CORNER OF SAID LOT 22; THENCE THE FOLLOWING (2) COURSES ALONG THE SOUTHERLY LINE OF SAID LOT 22; (1) THENCE WESTERLY 272.78 FEET TO A BEND POINT; (2) THENCE NORTHWESTERLY 40.29 FEET TO A POINT ON A CURVE ON THE SOUTHERLY LINE OF WEILER ROAD; THENCE THE FOLLOWING 2 COURSES ALONG SAID SOUTHERLY LINE; (1) THENCE SOUTHWESTERLY ALONG THE ARC OF A CURVE CONCAVE NORTHERLY, HAVING A RADIUS OF 91.0 FEET FOR AN ARC LENGTH OF 71.47 FEET; (2) THENCE WESTERLY 155.85 FEET TO THE EASTERLY LINE OF LOT 11 IN HIGGINS INDUSTRIAL PARK UNIT 2 PER DOCUMENT NUMBER 20022478; THENCE SOUTHEASTERLY ALONG SAID EASTERLY LINE 392.22 FEET TO THE NORTHERLY LINE OF THE 1-90 TOLL ROAD; THENCE NORTHWESTERLY ALONG SAID NORTHERLY LINE 2,760 FEET, MORE 21 4877-1454-9744, v. 3 OR LESS, TO THE NORTH LINE OF OAKTON STREET; THENCE EASTERLY ALONG SAID NORTH LINE 1,090 FEET, MORE OR LESS, TO THE EAST LINE OF LOT 2 IN GARLAND C. RICHARDSON'S SUBDIVISION PER DOCUMENT NUMBER 16662336; THENCE NORTHERLY ALONG SAID EAST LINE 620.7 FEET 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 1,810 FEET, MORE OR LESS, 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 3,100 FEET, MORE OR LESS, 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 350 FEET, MORE OR LESS, 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 2,960 FEET, MORE OR LESS, 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 NORTHERLY LINE OF THE COMMONWEALTH EDISON'S RIGHT-OF-WAY; THENCE NORTHEASTERLY ALONG SAID NORTHERLY LINE TO A BEND POINT; THENCE CONTINUING EAST ALONG 22 4877-1454-9744, v. 3 SAID NORTHERLY LINE TO THE EAST LINE OF SAID SOUTHEAST QUARTER OF SECTION 14; THENCE SOUTHERLY ALONG SAID EAST LINE TO THE PLACE OF BEGINNING. EXCEPTING THEREFROM THE FOLLOWING SIX (6) DESCRIBED PROPERTIES: LOT 1 IN LAKE CENTER PLAZA NO. 3, A SUBDIVISION OF LOTS 3 TO 7 IN LAKE CENTER PLAZA, A RESUBDIVISION OF PART OF LOT 4 IN LINNEMAN'S DIVISION AND OF LOT 2 IN LAKE CENTER PLAZA RESUBDIVISION 2 IN THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN ACCORDING TO THE PLAT OF RESUBDIVISION RECORDED JULY 16, 2009 AS DOCUMENT 0819145106, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOTS 1 AND 2 IN LAKE CENTER PLAZA RESUBDIVISION NO. 4, BEING A RESUBDIVISION OF LOTS 8, 9, 10 AND 11 IN LAKE CENTER PLAZA, A RESUBDIVISION NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN ACCORDING TO THE PLAT THEREOF RECORDED MARCH 20, 2018 AS DOCUMENT NO. 1807906120, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOT 1 IN LAKE CENTER PLAZA RESUBDIVISION NO. 2, OF PART OF THE NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED JULY 1, 1991, AS DOCUMENT NUMBER 91321871, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOT 13 IN LAKE CENTER PLAZA, BEING A SUBDIVISION OF PART OF LOT 4 IN LINNEMAN'S DIVISION OF THE SOUTH 3/ OF THE EAST HALF OF THE NORTHEAST QUARTER AND THE WEST HALF OF THE NORTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, AND OF THE SOUTH 477.78 FEET OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 14, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED JULY 1, 1988 AS DOCUMENT NUMBER 88291118, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: THAT PART OF WALL STREET LYING NORTH OF THE NORTH LINE OF ALGONQUIN ROAD AND SOUTH OF THE WESTERLY EXTENSION OF THE SOUTH LINE OF LASALLE STREET, ALL IN THE EAST HALF OF THE NORTHEAST QUARTER OF 23 4877-1454-9744, v. 3 SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. TOGETHER WITH: LOT 1 (EXCEPT THE WEST 130.0 FEET OF LOT 1) IN J.T.BUILDER'S FIRST INDUSTRIAL SUBDIVISION IN PART OF THE SOUTHWEST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. PARCEL 2: THOSE PARTS OF SECTIONS 14,15 AND 22, ALL IN TOWNSHIP 41 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF NORTHERLY LINE OF THE 1-90 TOLL ROAD AND 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 410 FEET, MORE OR LESS, TO THE SOUTH LINE OF RICHMOND SUBDIVISION PER DOCUMENT NUMBER 23984749; THENCE WEST ALONG SAID SOUTH LINE 1066 FEET, MORE OR LESS, TO THE EASTERLY LINE OF COMMONWEALTH EDISON'S RIGHT-OF- WAY; THENCE NORTH ALONG SAID EASTERLY LINE 920 FEET, MORE OR LESS, TO THE NORTHWEST CORNER OF MANSARD LANE CONDOMINIUMS SUBDIVISION PER DOCUMENT NUMBER 23029108; THENCE EAST ALONG THE NORTH LINE OF SAID MANSARD LANE CONDOMINIUMS SUBDIVISION TO SAID WEST LINE OF BUSSE ROAD; THENCE NORTH ALONG SAID WEST LINE 160 FEET, MORE OR LESS, TO THE SOUTH LINE OF HEWITT'S SUBDIVISION PER DOCUMENT NUMBER 24781151; THENCE WEST ALONG SAID SOUTH LINE 1066 FEET, MORE OR LESS, TO SAID EASTERLY LINE OF COMMONWEALTH EDISON'S RIGHT-OF-WAY; THENCE NORTH ALONG SAID EASTERLY LINE 1,850 FEET, MORE OR LESS, TO THE SOUTHERLY LINE OF ALGONQUIN ROAD; THENCE SOUTHEASTERLY ALONG SAID SOUTHERLY LINE 208 FEET, MORE OR LESS, TO THE WEST LINE OF LOT 2 IN MARCO POLO'S SUBDIVISION PER DOCUMENT NUMBER 21485932; THENCE SOUTH ALONG SAID WEST LINE 200 FEET TO THE SOUTH LINE OF SAID MARCO POLO'S SUBDIVISION; THENCE SOUTHEASTERLY ALONG SAID SOUTH LINE TO SAID WEST LINE OF BUSSE ROAD; THENCE NORTHERLY ALONG SAID WEST LINE OF BUSSE ROAD 500 FEET, MORE OR LESS, TO THE WESTERLY EXTENSION OF THE NORTH LINE OF LOT 1 IN PLAZA UNITED RESUBDIVISION OF LOT 1 PER DOCUMENT NUMBER 96489523; THENCE EAST ALONG SAID EXTENSION TO THE EASTERLY LINE OF SAID BUSSE ROAD; THENCE NORTHERLY ALONG SAID EASTERLY LINE 610 FEET, MORE OR LESS, 24 4877-1454-9744, v. 3 TO THE SOUTHERLY LINE OF COMMONWEALTH EDISON'S RIGHT-OF-WAY; THENCE NORTHEASTERLY ALONG SAID SOUTHERLY LINE 2,800 FEET, MORE OR LESS, TO THE WEST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 14; THENCE NORTH ALONG SAID WEST LINE 213 FEET, MORE OR LESS, TO THE NORTHERLY LINE OF THE COMMONWEALTH EDISON'S RIGHT-OF- WAY; THENCE SOUTHWESTERLY ALONG SAID NORTHERLY LINE AND WESTERLY EXTENSION THEREOF 4,000 FEET, MORE OR LESS, TO THE EAST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 15; THENCE SOUTH ALONG SAID EAST LINE 122 FEET, MORE OR LESS, TO THE NORTH LINE OF SAID ALGONQUIN ROAD; THENCE NORTHWESTERLY ALONG SAID NORTH LINE TO THE NORTHERLY EXTENSION OF THE EAST LINE OF BRIARWOOD DRIVE; THENCE SOUTH ALONG SAID EXTENSION AND WEST LINE OF BRIARWOOD DRIVE TO THE SOUTH LINE OF SAID SOUTHEAST QUARTER OF SECTION 15; THENCE EAST ALONG SAID SOUTH LINE TO THE NORTHWEST CORNER OF THE EAST HALF OF THE NORTHEAST QUARTER OF SAID SECTION 22; THENCE SOUTH ALONG THE WEST LINE OF SAID EAST HALF OF THE NORTHEAST QUARTER TO THE NORTHWEST CORNER OF THE EAST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 22; THENCE SOUTH ALONG THE WEST LINE OF SAID EAST HALF OF THE SOUTHEAST QUARTER 60 FEET, MORE OR LESS, TO SAID NORTHERLY LINE OF THE 1-90 TOLL ROAD; THENCE SOUTHEASTERLY ALONG SAID NORTHERLY LINE TO THE POINT OF BEGINNING. 25 4877-1454-9744, v. 3 EXHIBIT 3 Depiction of Amended Redevelopment Project Area VILLAGE OF MOUNT PROSPECT 'il 6 I N — -- ...— — __ —-- ..ane Original RPA Parcel Expansion Area 1 Parcels r — � I— —I Expansion Area Boundary Expansion Area 2 Parcels Village of Mt. Prospect Expansion Area 3 Parcels 26 4877-1454-9744, v. 3 Oakton Street 1►1 �o 0 cc 0 L E W 27 4877-1454-9744, v.3 0.4 Miles Original RPA Boundary Expansion Area 2 Parcels r —� Expansion Area Boundary /, R, Expansion Area 3 Parcels Expansion Area 1 Parcels 27 4877-1454-9744, v.3