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R-69-10 Res Amend Downtown TIF PlanRESOLUTION NO. A RESOLUTION CONCERNING A FEASIBILITY STUDY AND HOUSING IMPACT STUDY AND MEETING FOR AMENDING THE VILLAGE OF LEMONT, ILLINOIS, DOWNTOWN TAX INCREMENT FINANCE REDEVLOPMENT PLAN, REDEVELOPMENT PROJECT AND REDEVELOPMENT PROJECT AREA, AND RELATED MATTERS WHEREAS, the Village of Lemont, Illinois (the "Municipality ") is considering a proposal for amending the redevelopment plan (the "Redevelopment Plan ") and the redevelopment project (the "Redevelopment Project ") for the Municipality's redevelopment project area called the "Downtown Redevelopment Project Area" (the "Redevelopment Project Area "), which reasonably is expected to contain more than 74 inhabited residential units and which reasonably could be expected to result in the displacement of residents from 10 or more inhabited residential units as referenced in Section 11- 74.4- 4.1(b) of the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11- 74.4 -1 et seq., the "TIF Act "). NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COOK, DUPAGE AND WILL COUNTIES, ILLINOIS, as follows: Section 1. Feasibility Study / HIS / Meeting. The Municipality hereby authorizes and directs that a "feasibility study" be prepared in connection with the designation of the Redevelopment Project Area as a redevelopment project area under the TIF Act, which feasibility study shall include the preparation of a "housing impact study" under Section 1174.4- 3(n)(5) of the TIF Act, and in this connection the Municipality shall be authorized to engage Ehlers and Associates, Inc. and such other planning and other consultants as shall be desirable or necessary. The Municipality's population exceeds 15,000. The "meeting" required by Section 11- 74.4 -6(e) of the TIF Act shall be conducted by the Municipality's Village Administrator. The Village President's approval of this resolution shall constitute the designation of the Municipality's Village Administrator as the department official to set the time and place for such meeting in the event the Village President does not. Section 2. Boundaries. The general boundaries of the Redevelopment Project Area are set forth in Exhibit A to this resolution. Section 3. Redevelopment Plan / Project Purposes. The purposes / objectives of the proposed redevelopment plan and redevelopment project for the Redevelopment Project Area are as follows: 1. Reduce or eliminate those conditions that qualify the Redevelopment Project Area as a "conservation area ". 2. Encourage a high - quality appearance of buildings, rights -of -way, and open spaces and encourage high standards of design. 3. Strengthen the economic well -being of the Redevelopment Project Area and the Municipality by increasing business activity, tax base, and job opportunities. 4. Assemble land into parcels of sufficient shape and size for disposition and redevelopment in accordance with the redevelopment plan and contemporary development needs and standards. 5. Stimulate private investment in appropriate new construction and redevelopment. 6. Provide needed public improvements or facilities in proper relationship to the projected demand for such facilities and in accordance with present -day design standards for such facilities. 7. Provide needed incentives to encourage a broad range of improvements. 8. Improve the visual attractiveness of the Municipality through Landscaping and coordination of design in the Redevelopment Project Area. 9. Address flooding problems. 10. Create additional recreational opportunities that coordinate with and build upon those developed in other parts of the Municipality. 11. Increase residential, office, retail, and industrial development and redevelopment. 12. Increase job opportunities. Section 4. TIF General Description. Tax increment financing in Illinois provides a means for municipalities, after the approval of a redevelopment plan and redevelopment project, designation of a redevelopment project area and adoption of tax increment finance ( "TIF "), to redevelop blighted areas, conservation areas, industrial park conservation areas, or a combination of these types of areas by capturing the anticipated increase in tax revenues generated by natural increases in equalized assessed value ( "EAV ") and by private development resulting in an increased EAV to pay for certain redevelopment project costs incurred. Tax increment financing is authorized in Illinois by the TIF Act. This works generally in the following way: (i) an initial equalized assessed value (the "Initial EAV" if all taxable property in the redevelopment project area is determined by the applicable County Clerk as of the date of adoption of TIF; (ii) all taxes after such date attributable to the increase in EAV over the Initial 2 EAV is deposited into a separate fund (the special tax allocation fund) administered by the Municipality to pay qualifying redevelopment project costs under the TIF Act; and (iii) all taxes after such date attributable to the then applicable EAV up to the initial EAV are paid to the underlying taxing districts in the ordinary way. To implement TIF the TIF Act requires, among other things, a public meeting and a public hearing, with applicable mailed and published notices. The Municipality will follow these and other applicable required procedures which are detailed in the TIF Act. The TIF Act allows the use of incremental property taxes to pay certain redevelopment project costs or to pay debt service with respect to tax increment revenue or general obligations issued to pay redevelopment project costs. Pursuant to the TIF Act the Municipality is authorized to issue obligations payable from and / or secured by incremental property tax revenues expected to be generated in the Redevelopment Project Area. Incremental property taxes are not available for general operations of the Municipality or any underlying or overlapping taxing districts for the life of the Redevelopment Project Area except for any excess of such incremental property taxes in any year declared as surplus for distribution to such taxing districts. Qualifying redevelopment project costs are outlined in Section 11- 74.4 -3(q) of the TIF Act and include but are not limited to: TIF administration, professional costs, property assembly and real estate acquisition, site preparation, certain interest cost subsidies, infrastructure and other public facilities and improvements, rehabilitation, relocation, and other costs under the TIF Act. Section 5. Contact. For additional information about the proposed Redevelopment Project Area and as the Municipality's contact to receive all comments and suggestions regarding the Redevelopment Project Area to be studied: Ben Wehmeier Village of Lemont Village Administrator 418 Main Street Lemont, Illinois 60439 -3708 Tel: (630) 257 -1550 / Fax: 257 -1598 Section 6. Effective. This resolution shall be effective immediately upon its adoption and approval and shall be immediately sent to all taxing districts overlapping or underlying the Redevelopment Project Area. [The remainder of this page is intentionally left blank.] 3 Upon motion by Trustee Stapleton Miklos , adopted this 22ndday of November , 2010 by , seconded by Trustee roll call vote, as follows: Voting "Aye" (names): Blatzur, Miklos, Chialdikas, Sniegowski, Stapleton, Virgilio Voting "Nay" (names): Absent (names): Attest: 0 0 Approved: fkil_, L - , 2010 Village Clerk 4 EXHIBIT A DOWNTOWN REDEVELOPMENT PROJECT AREA Generic Boundaries The Downtown Lemont Amended Redevelopment Project Area, as previously amended, is generally bounded by the area starting at the intersection of New Avenue and Lockport Street. The boundaries run southeast along Lockport Street to an alley between Illinois Street and Cass Street. They then run northwest along the alley to Lemont Street. The boundaries then turn southeast along Lemont Street to Cass Street, where they turn northeast along Cass Street to Stephen Street. At Stephen Street, the boundaries turn northwest to Illinois Street. They then turn northeast along Illinois Street to the intersection with Main Street. The boundaries then turn north to the northeast corner of the I & M Canal parcel. The boundaries then turn westerly along the northern property lines of three parcels that are just north of the I & M Canal parcels to the alley east of Stephen Street. The boundaries then turn northwest to the end of the alley. The boundaries then turn southwest to the A.T. & S.F. Railroad. The boundaries then follow Stephen Street southeast to parcel 22 -20- 404 -012. They then turn northwest and follow the northern lot lines of parcels fronting on the north side of Canal Street. They turn south and follow the west lot line of parcel 22 -20- 404 -006 to Canal Street. The boundaries go southwest along Canal Street to Lemont Street. The boundaries then turn southeast along Lemont Street to the G.M. & O. Railroad. The boundaries follow the G.M. & O. Railroad southwesterly to State Street. At State Street, the boundaries turn southeast to New Avenue. The boundaries then turn northwest along New Avenue to Lockport Street. LEGAL DESCRIPTION FOR AMENDMENT TO ORDINANCE 689 THAT PART OF THE SOUTH HALF OF SECTION 20, TOWNSHIP 37 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST CORNER OF SAID SOUTH HALF OF SECTION 20; THENCE WEST ALONG THE NORTH LINE OF SAID SOUTH HALF (ALSO BEING THE NORTH LINE OF LOT 1 IN COUNTY CLERK'S DIVISION OF SECTION 20) A DISTANCE OF 1460 FEET MORE OR LESS TO A BEND IN SAID LOT 1; THENCE SOUTHWESTERLY 960 FEET ALONG THE NORTHWESTERLY LINE OF LOTS 1 AND 2 IN SAID COUNTY CLERK'S DIVISION TO A NORTH -SOUTH ALLEY IN SINGER AND TALCOTT'S STONE COMPANY SUBDIVISION; THENCE NORTHWESTERLY 180 FEET MORE OR LESS TO THE SOUTH LINE OF LOT 209 IN SANITARY DISTRICT TRUSTEE'S SUBDIVISION IN SAID SECTION 20; THENCE SOUTHWEST 140 FEET ALONG LAST SAID SOUTH LINE TO THE SOUTHEASTERLY LINE OF ATCHISON, TOPEKA AND SANTA FE RAILROAD RIGHT -OF -WAY; THENCE SOUTHWESTERLY ALONG LAST SAID RIGHT -OF -WAY LINE TO THE WESTERLY LINE OF STEPHEN STREET; THENCE SOUTHEASTERLY ALONG THE WESTERLY LINE OF STEPHEN STREET TO THE NORTH LINE OF LOTS 6 THRU 10 OF BLOCK 28 IN THE VILLAGE OF KEEPOTAW, A PART OF THE EAST 1/2 OF THE SOUTHEAST 1/4 OF SAID SECTION 20; THENCE WEST ALONG THE NORTH LINE OF 5 SAID LOTS 6 THRU 10 AND ITS WEST EXTENSION TO THE EAST LINE OF LOT 17 IN COUNTY CLERK'S DIVISION, A SUBDIVISION IN THE SOUTH 1/2 OF SAID SECTION 20; THENCE SOUTH ALONG THE EAST LINE OF SAID LOT 17 TO THE NORTH LINE OF CANAL STREET; THENCE WEST ALONG THE NORTH LINE OF CANAL STREET TO THE SOUTHEAST CORNER OF LOT 1 IN VILLAGE OF LEMONT, BEING A SUBDIVISION IN THE SOUTH 1/2 OF SAID SECTION 20; THENCE SOUTHERLY ALONG THE SOUTHERLY EXTENSION OF THE EAST LINE OF SAID LOT 1 AND ALONG THE EAST LINE OF BLOCK 10 IN SAID VILLAGE OF LEMONT TO A POINT ON A LINE PARALLEL AND CONCENTRIC WITH AND 25 FEET NORTHERLY FROM THE SOUTH BOUND MAIN TRACK OF THE ILLINOIS CENTRAL RAILROAD COMPANY; THENCE WESTERLY ALONG THE LAST DESCRIBED LINE TO THE EAST LINE OF THE EAST 1/2 OF THE SOUTHWEST 1/4 OF SAID SECTION 20; THENCE SOUTH ALONG THE LAST DESCRIBED LINE TO THE WEST LINE OF LOTS 1 THRU 14 INCLUSIVE IN BLOCK 10 IN SAID VILLAGE OF LEMONT; THENCE WESTERLY ALONG THE LAST DESCRIBED LINE TO THE NORTHWEST CORNER OF LOT 14 IN BLOCK 10 IN SAID VILLAGE OF LEMONT; THENCE WESTERLY TO THE EAST LINE OF BLOCK 2 IN THE VILLAGE OF LEMONT AT A POINT THAT IS 25 FEET SOUTHERLY OF THE CENTER LINE OF THE NORTHBOUND MAIN TRACK OF SAID ILLINOIS CENTRAL RAILROAD COMPANY; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID BLOCK 2 TO THE NORTH LINE OF NEW AVENUE; THENCE WESTERLY ALONG THE NORTH LINE OF NEW AVENUE TO THE WEST LINE OF BLOCK 9 IN SAID VILLAGE OF LEMONT; THENCE SOUTHEASTERLY ALONG THE LAST SAID WEST LINE TO THE SOUTH RIGHT -OF -WAY LINE OF NEW AVENUE; THENCE EASTERLY ALONG THE LAST SAID RIGHT -OF -WAY LINE TO A POINT 30 FEET WEST OF LOCKPORT STREET; THENCE SOUTHEAST TO A POINT IN THE WEST LINE OF LOCKPORT STREET 20 FEET SOUTH OF THE SOUTH LINE OF NEW AVENUE; THENCE SOUTHEASTERLY ALONG THE WEST LINE OF LOCKPORT STREET TO THE SOUTH LINE OF THE EAST -WEST ALLEY IN BLOCKS 7 AND 8 OF THE VILLAGE OF LEMONT AS RECORDED AUGUST 8, 1974 AS DOCUMENT NO. 184242; THENCE NORTHEASTERLY 902 FEET ALONG THE LAST SAID SOUTH LINE TO THE WEST LINE OF LEMONT STREET; THENCE SOUTHEASTERLY 198 FEET ALONG LAST SAID WEST LINE TO THE SOUTH LINE OF CASS STREET; THENCE NORTHEASTERLY 526 FEET ALONG LAST SAID SOUTH LINE TO THE EAST LINE OF STEPHEN STREET; THENCE NORTHWESTERLY 300 FEET MORE OR LESS TO THE SOUTH LINE OF ILLINOIS STREET; THENCE NORTHEASTERLY 1990 FEET MORE OR LESS ALONG LAST SAID SOUTH LINE TO THE EAST LINE OF PRUYNE STREET IN THE TOWN OF ATHENS; THENCE NORTHEASTERLY ALONG THE SOUTHEAST LINE OF THE ILLINOIS STREET CUTOFF TO MERGE WITH MAIN STREET TO THE EAST LINE OF SAID SECTION 20; THENCE NORTH 660 FEET MORE OR LESS ALONG LAST SAID EAST LINE TO THE NORTH LINE OF THE SOUTH HALF OF SAID SECTION 20 AND BEING THE PLACE OF BEGINNING, ALL IN THE VILLAGE OF LEMONT, COOK COUNTY, ILLINOIS. ALSO, THOSE PARTS OF VACATED HINSDALE STREET AND VACATED LAWRENCE STREET IN THE VILLAGE OF LEMONT LYING NORTHERLY OF THE NORTHERLY LINE OF CANAL STREET AND SOUTHERLY OF THE NORTH LINE OF LOT 6 IN BLOCK 28 IN KEEPOTAW IN SAID SECTION 20, EXTENDED WEST, AND DUE WEST OF A LINE COMMENCING AT A POINT OF SAID NORTHERLY LINE OF CANAL STREET 56.96 FEET EASTERLY OF THE SOUTHWEST CORNER OF SAID LOT 17; THENCE NORTHERLY ALONG A LINE WHICH IS 56.96 FEET EASTERLY FROM AND PARALLEL 6 WITH THE WESTERLY LINE OF SAID LOT 17, A DISTANCE OF 68.65 FEET; THENCE EASTERLY ALONG A LINE PARALLEL TO THE NORTH LINE OF SAID CANAL STREET, A DISTANCE OF 6 FEET MORE OR LESS TO ITS INTERSECTION WITH A LINE 15 FEET WEST OF AND PARALLEL WITH THE WEST LINE OF SAID LOT 6 IN BLOCK 28 IN KEEPOTAW; THENCE NORTH ALONG SAID LAST MENTIONED PARALLEL LINE TO ITS INTERSECTION WITH THE NORTH LINE OF SAID LOT 6 IN BLOCK 28 IN KEEPOTAW EXTENDED WEST IN COOK COUNTY, ILLINOIS. NORTH Village of Lemont, Illinois Downtown Lemont AMENDED REDEVELOPMENT :PROJECT AREA EHLERS & ASSOCIATES INC 7 STATE OF ILLINOIS ) COOK, DUPAGE AND WILL COUNTIES ) SS VILLAGE OF LEMONT ) CERTIFICATION OF RESOLUTION I, the undersigned, do hereby certify that I am the duly selected, qualified and acting Village Clerk of the Village of Lemont, Cook, DuPage and Will Counties, Illinois (the "Municipality "), and as such official I am the keeper of the records and files of the Municipality and of the President and Board of Trustees (the "Corporate Authorities "). I do further certify that the foregoing constitutes a full, true and complete excerpt from the proceedings of the meeting of the Corporate Authorities held on the a day of no y 2010, insofar as same relates to the adoption of Resolution No. -t Q.10 , entitled: A RESOLUTION CONCERNING A FEASIBILITY STUDY AND HOUSING IMPACT STUDY AND MEETING FOR AMENDING THE VILLAGE OF LEMONT, ILLINOIS, DOWNTOWN TAX INCREMENT FINANCE REDEVLOPMENT PLAN, REDEVELOPMENT PROJECT AND REDEVELOPMENT PROJECT AREA, AND RELATED MATTERS, a true, correct and complete copy of which resolution as adopted at such meeting appears in the minutes of such meeting and is hereto attached. The Resolution was adopted and approved on the date thereon set forth by not less than a affirmative vote of a majority of the Corporate Authorities and approved by the Village President on the date indicated thereon. I do further certify that the deliberations of the Corporate Authorities on the adoption of such Resolution were taken openly, that the vote on the adoption of such Resolution was taken openly and was preceded by a public recital of the nature of the matter being considered and such other information as would inform the public of the business being conducted at least 48 hours before the meeting, that such meeting was held at a specified time and place convenient to the public, that notice of such meeting was duly given to all of the news media requesting such notice, that such meeting was called and held in strict compliance with the provisions of the open meetings laws of the State of Illinois, as amended, and the Illinois Municipal Code, as amended, and that the Corporate Authorities complied with all of the applicable provisions of such open meeting laws and such Code and their procedural rules in the adoption of such Resolution. IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of the Village of Lemont, Illinois, this ZZ day ofo,p0 , 2010. (SEAL) Village Clerk