HomeMy WebLinkAboutOrd 5803 07/20/2010 ORDINANCE NO. 5803
AN ORDINANCE REPEALING ORDINANCE NO. 5640 IN REGARD TO THE
ACQUISITION OF PROPERTY THROUGH CONDEMNATION OR OTHERWISE
IN THE TAX INCREMENT REDEVELOPMENT PROJECT AREA
6 -18 WEST BUSSE AVENUE, MOUNT PROSPECT
Passed and approved by
the President and Board of Trustees
the 20 day of July, 2010
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois,
the 21 day of July, 2010
ORDINANCE NO. 5803
AN ORDINANCE REPEALING ORDINANCE NO. 5640,
IN REGARD TO THE ACQUISITION OF PROPERTY THROUGH CONDEMNATION
OR OTHERWISE IN THE TAX INCREMENT REDEVELPMENT PROJECT AREA
6 -18 WEST BUSSE AVENUE, MOUNT PROSPECT
WHEREAS, on July 24, 2007, the Village of Mount Prospect, Cook County,
Illinois, passed and adopted Ordinance No. 5640, An Ordinance Authorizing The
Acquisition Of Property Through Condemnation Or Otherwise In The Tax Increment
Redevelopment Project Area ( "Ordinance No. 5640 "), a copy of which is attached
hereto and incorporated herein as Exhibit A; and
WHEREAS, Ordinance No. 5640 authorizes the acquisition of certain real
property, commonly known as 6 -18 West Busse Avenue, Mount Prospect, Illinois,
Permanent Index No. 08 -12- 102 - 062 -0000 (the "Property "); and
WHEREAS, the President and Board of Trustees have determined that
development opportunities in the underlying Tax Increment Redevelopment Project
Area have disappeared due to the current economy and that it is no longer in the best
interests of the residents of the Village of Mount Prospect to acquire the Property.
NOW THEREFORE, BE IT ORDAINED by the President and Board of Trustees
of the Village of Mount Prospect, Cook County, Illinois, acting in the exercise of their
home rule powers, as follows:
SECTION 1: That the above recitals are hereby incorporated into this Ordinance
as fully as if restated herein in their entirety.
SECTION 2: That Ordinance No. 5640, An Ordinance Authorizing The
Acquisition Of Property Through Condemnation Or Otherwise In The Tax Increment
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Redevelopment Project Area, which was passed and adopted on July 24, 2007, is
hereby repealed in its entirety.
SECTION 3: That the Village of Mount Prospect shall hereby cease any further
efforts to acquire the Property.
SECTION 4: That this Ordinance shall be in full force and effect from and after
its passage, approval and publication in pamphlet form in the manner provided by law.
AYES: Juracek, Korn, Matuszak, Polit, Zadel
NAYS: None
ABSENT: Hoefert
PASSED and APPROVED this 20 day of July, 2010
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