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HomeMy WebLinkAboutOrd 3725 12/02/1986ORDINANCE NO. 3725 AN ORDINANCE AUTHORIZING THE ALLOCATION OF THE INCREASE IN THE AGGREGATE AMOUNT OF TAXES PAID BY RETAILERS AND SERVICEMEN PURSUANT TO THE MUNICIPAL RETAILERS' OCCUPA- TION TAX ACT, THE MUNICIPAL SERVICE OCCUPATION TAX ACT, THE RETAILERS' OCCUPATION TAX ACT, THE USE TAX ACT, THE SERVICE USE TAX ACT AND THE SERVICE OCCUPATION TAX ACT ON BUSINESS TRANSACTIONS LOCATED WITHIN THE DISTRICT NO. 1 REDEVELOPMENT PROJECT AREA IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS: AND REPE~LING ©RDINANCE NO. 3619 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES THE 2nd DAY OF December , 1986. Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the 3rd day of December , 1986. ORDINAI~CE NO. 3725 ORDINANCE AUTHORIZING THE ALLOCATION OF THE INCREASE IN THE AGGREGATE AMOUNT OF TAXES PAID BY RETAILERS AND SERVICEMEN PURSUANT TO THE MUNICIPAL RETAILERS' OCCUPA- TION TAX ACT, THE MUNICIPAL SERVICE OCCUPATION TAX ACT, THE RETAILERS' OCCUPATION TAX ACT, THE USE TAX ACT, THE SERVICE USE TAX ACT AND THE SERVICE OCCUPATION TAX ACT ON BUSINESS TRANSACTIONS LOCATED WITHIN THE DISTRICT NO. 1 REDEVELOPMENT PROJECT AREA IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS; AND REPEALING ORDINANCE NO. 3619 WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, as amended, constituting Division 74.4 of Article 11 of the Illinois Municipal Code (the "Original Act"), the President and Board of. Trustees of the Village of Mount Prospect, Illinois (the "Village") adopted Ordinance No. 3554 on August 20, 1985 approving a tax increment redevelopment plan and project known as the "Downtown No. 1 Tax Increment Redevelopment Plan and Project" (the "Redevelopment Plan"); and WHEREAS, pursuant to the Original Act, on August 20, 1985, said President and Board of Trustees adopted Ordinance No. 3555 designating the area in the Village described in the Redevelopment Plan as the "District No. 1 Tax Increment Rede- velopment Project Area" (the "Redevelopment Project Area") and said President and Board of Trustees adopted Ordinance No. 3556 approving tax increment allocation financing with respect to the Redevelopment Plan, the Redevelopment Project and the Rede- velopment Project Area; WI~EREAS, pursuant to Section 11-74.4-8a of the Original Act, on March 4, 1986, said President and Board of Trustees adopted Ordinance No. 3619 authorizing the Illinois Department of Revenue to allocate to the Village certain retailers' and service occupation taxes paid on transactions at places of business located within the Redevelopment Project Area and providing for the disposition of such tax proceeds; and W~EREAS, the Original Act was amended by Public Act 84- 1417, which amendment was enacted into law and made effective as of September 21, 1986, which amendment, in relevant part amends Section 11-74.4-8a of the Original Act so that the Original Act as so amended (the "Act) provides that a municipality which has adopted tax increment allocation financing prior to January 1, 1987, may, by ordinance, authorize the Illinois Department of Revenue to annually certify and cause to be paid to such munici- pality an amount equal to the increase in the aggregate amount of taxes paid by retailers and servicemen on transactions at places of business located within a designated redevelopment project area pursuant to the Municipal Retailers' Occupation Tax Act, the Municipal Service Occupation Tax Act, the Retailers' Occupation Tax Act, the Use Tax Act, the Service Use Tax Act and the Service Occupation Tax Act, for as long as the redevelopment project area exists, over and above the aggregate amount of such taxes as certified by the Illinois Department of Revenue paid under those Acts by retailers and servicemen on transactions at places of business located in the redevelopment project area during the base year which is the calendar year immediately prior to the year in which the municipality adopted tax increment allocation financing, less 1.6% of such amounts generated under the Retail- ers' Occupation Tax Act, Use Tax Act and Service Use Tax Act and the Service Occupation Tax Act, which sum shall be retained by -2- the State Treasurer to cover the costs incurred by the Depart- ment in administering and enforcing the provisions of Section 11- 74.4-8a of the Act; and Wl~EREAS, the Ordinance No. 3556 provides that all incremental property tax revenues generated in the Redevelopment Project Area shall be deposited in the special tax allocation fund in the Village for the purpose of paying Redevelopment Proj- ect Costs and obligations incurred in the payment thereof; and W~EREAS, it is the determination of the President and Board of Trustees of the Village of Mount Prospect, Illinois to allocate such increase in taxes under the Municipal Retailers' Occupation Tax Act, the Municipal Service Occupation Tax Act, the Retailers' Occupation Tax Act, the Use Act, the Service Use Act and the Service Occupation Tax Act over and above the amount of such taxes paid during calendar year 1984 within the Redevelop- ment Project Area to the special tax allocation fund of the Vil- lage for use in payment of Redevelopment Project costs and obli- gations; and WqSEREAS, the Village currently imposes the maximum tax imposed by law under the Municipal Retailers Occupation Tax Act, the Municipal Use Tax Act and the Municipal Service Occupation Tax Act, as is required by Section 11-74.4-8a in order for the Village to receive the allocations described above pursuant to said Section 11-74.4-8a; WI{EREAS, it is now necessary in the Village to repeal Ordinance No. 3619 and replace it with a new ordinance in order to comply with the Act; -3- NOW, TEEREFORE, BE IT ORDAINED BY TEE PRESIDENT AND BOARD OF TRUSTEES OF TEE VILLAGE OF MOUNT PROSPECT, ILLINOIS, AS FOLLOWS: Section 1. Pursuant to Section 11-74.4-8a of the Act, the President and this Board of Trustees do hereby authorize the Illinois Department of Revenue to annually certify and pay to this Village an amount equal to the increase in the aggregate amount of taxes paid by retailers and servicemen on transactions at places of business located within the Redevelopment Project Area (as described in Attachment "A" which is attached hereto and made a part of this Ordinance by reference), pursuant to the Municipal Retailers' Occupation Tax Act, the Municipal Service Occupation Tax Act, the Retailers Occupation Tax Act, the Use Tax Act, the Service Use Tax Act and the Service Occupation Tax Act for as long as the Redevelopment Project Area exists; said amount to be over and above the aggregate amount of said taxes as certified by the Illinois Department of Revenue and paid under these Acts by retailers and servicemen on transactions at places of business located with the Redevelopment Project Area during the calendar year 1984, less those amount previously described to be retained by the State Treasurer pursuant to said Section 11- 74.4-8a. Section 2. The tax payments authorized under Section 1 of this Ordinance shall be deposited by ~he Village Treasurer of the Village of Mount Prospect in the special tax allocation fund for the Village of Mount Prospect for the purpose of paying Redevelopment Project Costs payment thereof. and obiigations incurred in the -4- Section 3. The Village Clerk is hereby authorized and directed to file a certified copy of this Ordinance with the appropriate officials of the Illinois Department of Revenue and the Illinois Department of Commerce and Community Affairs within thirty days after the effective date of this Ordinance. The Village Clerk is hereby authorized and directed to furnish the Illinois Department of Revenue and the Illinois Department of Commerce and Community Affairs all information required by Sec- tion 11-74.4-8a of the Act, as well as such other information reasonably available to the Village as shall be requested by the Illinois Department of Revenue in relation to the performance of its duties under said Section. Section 4. This Ordinance shall be in full force and effect upon its passage by .the President and Board of Trustees of the Village of Mount Prospect, Illinois. Section 5. Ordinance No. 3619 adopted by this Presi- dent and Board of Trustees on March 4, 1986, is repealed in its entirety. All other ordinances or resolutions in conflict herewith are hereby repealed insofar as such conflict exists. Section 6. The Village Clerk be and is hereby directed to publish this Ordinance in pamphlet form. -5- ATTACHMENT A Legal Description of REDEVELOPMENT PROJECT AREA Beginning at the intersection of the centerline of Main Street, State of Illinois Route 83, with the centerline of Central Road, extended; thence Easterly along said centerline of Central Road, a distance of approximately 570.32 feet to the Northeast corner of Lot 22 of Block 5 in Busse and Willie's Re- subdivision in Mount Prospect; thence Southerly along the Eastern property line of Lots 12, 13, 20, 21, and 22 of said Block 5 in Busse and Willie's Resubdivision in Mount Prospect, and the Eastern property line of Lot 1 of Mount Prospect State Bank Resubdivision No. 3, a distance of approximately 608.74 feet, to the centerline of Busse Avenue; thence Westerly along the centerline of Busse Avenue, a distance of approximately 157.11 feet, to the point of intersection of the centerline of Busse Avenue with the Eastern right-of-way of Emerson Street; thence Southerly along said Eastern right-of-way of Emerson Street, a distance of approximately 277.00 feet, to a' point at the Northwest corner of Lot 18 in Block 12 of Busse and Willie's Resubdivision in Mount Prospect; thence Easterly along the Northern property line of said Lot 18, a distance of approximately 157.09 feet, to the Northeast corner of Lot said 18; thence Southerly, a distance of approximately 50.00 feet, along the Eastern property line of said Lot 18, to a point at the Northwest corner of Lot A of Corporate Subdivision Number 1, Village of Mount Prospect; thence Easterly along the Northern property line of said Lot A, a distance of approximately 157.10 feet, to a point of intersection of said Lot A with the Western right-of-way of Maple Street; thence Northerly along the Western right-of-way of Maple Street, a distance of approximately 321.88 feet, to a point at the intersection of the Western right-of-way of Maple Street and the Southern right-of-way of Busse Avenue; thence Easterly along the Southern right-of-way of Busse Avenue, a distance of approximately 223.12 feet, to a point of intersection with the Eastern property line of Lot 1 in Block 11 of Busse and Willie's Resubdivision in Mount Prospect; thence Southerly along the Eastern property lines of Lots 1 through 8 of Block 11 of Busse and Willle's Resubdivision in Mount Prospect, a distance of approximately 401.36 feet, to a point at the intersection of the Southeast corner of said Lot 8 with the Northwest corner of Lot 16 of Busse's Subdivision of Lot A of Block 11 in Busse and Wille's Resubdivision; thence Easterly along the Northern property line of said Lot 16, a disfance of approximately 190.10 feet, to a point on the centerline of Elm Street; thence Southerly along said centerline of Elm Street, a distance of approximately 190.00 feet, to the point of intersection of the centerline of Elm Street, extended, with the Northern right-of-way of Evergreen Avenue; thence Easterly along the Northern right-of-way of Evergreen Avenue, a distance of -6- approximately 567.20 feet, to a point of intersection with the Southwest corner of Lot 5 of the Subdivision of Block 8 of Busse's Eastern Addition to Mount Prospect, recorded February 11, 1922; thence Southerly, a distance of approximately 591.00 feet, along the Western property lines of Lots 1 through 21 of Block 20 of Mount Prospect Subdivision in Section 12-41-11, Recorded September 2, 1874, to a point at the intersection of the Southwestern corner of said Lot 21 with the Northern property line of Lot 1 of Bruce's Resubdivision in Mount Prospect; thence Easterly along the Northern property line of said Lot 1, a distance of approximately 171.00 feet, to the centerline of Owen Street; thence Southerly along said centerline of Owen Street, a distance of approximately 255.48 feet, to the point of the intersection of the centerline of Northwest Highway, State of Illinois Route 14, with the centerline of Owen Street, extended; thence Northwesterly along said centerline of Northwest Highway a distance of approximately 2,250 feet to the point of intersection of the centerline of Northwest Highway with the centerline of Main Street, State of Illinois Route 83, extended; thence Northerly along the centerline of Main Street a distance of approximately 940 feet to the point of beginning, at the intersection of the centerlines of Main Street and Central Road, extended; all located in the Northwest Quarter (1/4), and the Northeast Quarter (1/4) of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian, located in the Village of Mount Prospect, Elk Grove Township, County of Cook, in the State of Illinois. -7- Adopted and approved roll call vote as follows: Ayes: Arthur, Farley, this 2nd day of December, 1986 by Floros, Murauskis, Van Geem, Wattenberg Nays: None Absent: None Approved: Attest: Village Clerk Villag~ President 1986. Published in pamphlet form this 2__nd day of December, Village Clerk -8-