O-33-11 Ord Continuing Tax Increment Financing for Downtown Redevelopment Project(3)
ORDINANCE NO. 3
AN ORDINANCE CONTINUING TAX INCREMENT
FINANCING FOR THE VILLAGE OF LEMONT, ILLINOIS
DOWNTOWN LEMONT REDEVELOPMENT PROJECT
AREA
WHEREAS, the Village of Lemont, Illinois (the "Municipality "), acting through
its President and Board of Trustees (the "Corporate Authorities ") and other officers and
representatives, has duly noticed, held and conducted all proceedings, including the required
housing impact study, public meeting, public hearing and joint review board actions, preliminary
to the designation of the amended Downtown Lemont Redevelopment Project Area (the
"Redevelopment Project Area," as described in the attached Exhibit A), the approval of the
Downtown Lemont Amended Redevelopment Project Area, Further Amended Redevelopment
Project and Plan Project (the "Redevelopment Plan" and "Redevelopment Project ") and the
adoption of tax increment financing to finance the amended Redevelopment Plan and
Redevelopment Project, all under and pursuant to the Tax Increment Allocation Redevelopment
Act (65 ILCS 5/11- 74.4 -1 et seq., as supplemented and amended (the "TIF Act ")).
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, ILLINOIS, as follows:
Section 1. Findings. The Municipality, by its Corporate Authorities, hereby
finds, as follows:
(1) The Redevelopment Project Area, as amended, on the whole has not
been subject to growth and development through investment by private enterprise
and would not reasonably be anticipated to be developed without the adoption of
the Redevelopment Plan.
(2) The Redevelopment Plan and Project, as amended, conform to the
comprehensive plan for the development of the Municipality as a whole.
Section 2. Adopt Tax Increment Financing. Under the TIF Act, the
Municipality hereby adopts, approves and authorizes the application of tax increment financing
with respect to the amended Redevelopment Plan, Redevelopment Project and Redevelopment
Project Area.
Section 3. Term. The Redevelopment Project Area, and the estimated dates of
completion of the Redevelopment Project and the retirement of obligations issued to finance
redevelopment project costs shall be not more than 23 years (but shall be 24 years in connection
with the Municipality's right under the TIF to receive the 23r year of incremental property taxes
(for levy year 2014) by December 31 in the 24th year, i.e. December 31, 2015) from the initial
adoption (May 28, 1991) of the ordinance approving the Redevelopment Project Area.
Section 4. Incremental Taxes. The Municipality hereby adopts tax increment
financing and directs that the ad valorem taxes, if any, arising from the levies upon taxable real
property in the Redevelopment Project Area by taxing districts and tax rates determined in the
manner provided in paragraph (c) of Section 11- 74.4 -9 of the TIF Act each year after the
effective date of this ordinance until redevelopment project costs and all municipal obligations
financing redevelopment project costs incurred under the TIF Act have been paid shall be
divided as follows:
(a) That portion of taxes levied upon each taxable lot, block, tract or parcel of real
property which is attributable to the lower of the current equalized assessed value or the initial
equalized assessed value of each such taxable lot, block, tract or parcel of real property in the
Redevelopment Project Area shall be allocated to and when collected shall be paid by the county
collector to the respective affected taxing districts in the manner required by law in the absence
of the adoption of tax increment allocation financing.
(b) That portion, if any, of such taxes which is attributable to the increase in the current
equalized assessed valuation of each taxable lot, block, tract or parcel of real property in the
Redevelopment Project Area over and above the initial equalized assessed value of each property
in the Redevelopment Project Area shall be allocated to and when collected shall be paid to the
Municipality's treasurer who shall deposit such taxes into a special fund called the "Special Tax
Allocation Fund" of the Municipality for the purpose of paying redevelopment project costs and
obligations incurred in the payment thereof.
Section 5. Filing. The Village Clerk shall file a certified copy of this ordinance
with the County Clerk of Cook County, Illinois.
[The remainder of this page is intentionally left blank.]
Upon motion by Trustee Blatz r
Miklos , adopted this 9th day of Nay
as follows:
Voting "Aye" (names):
Voting "Nay" (names):
Absent (names):
, seconded by Trustee
, 2005 by roll call vote,
Blatzer, Chialdikas, Miklos, Sniegowski, Stapleton
Virgilio
Approved this 9th day of May
, 2011
ATTEST:
rian K. Reeves, q illage President
Charlene M. Srollen, Village Clerk
Recorded in the Municipality's Records on May9 , 2011.
EXHIBIT A
DOWNTOWN CANAL DISTRICT I
REDEVELOPMENT PROJECT AREA
LEGAL DESCRIPTION
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 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 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
laidade
Village of Lemont, Illinois
Downtown Lemont
AMENDED REDEVELOPMENT PROJECT AREA
•
EHLERS
k A:O YCCIATES IN
STATE OF ILLINOIS )
COUNTY OF COOK ) SS.
VILLAGE OF LEMONT )
CERTIFICATION OF ORDINANCE
I, Charlene M. Smollen, 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 its President and Board of Trustees (the "Corporate Authorities ").
I do further certify that the attached ordinance constitutes a full, true and correct
excerpt from the proceedings of the Municipality's Corporate Authorities held on May 9
2011, insofar as same relates to the adoption of Ordinance No. 0- 33 -11, entitled:
AN ORDINANCE CONTINUING TAX INCREMENT FINANCING FOR THE
VILLAGE OF LEMONT, ILLINOIS DOWNTOWN LEMONT REDEVELOPMENT
PROJECT AREA,
a true, correct and complete copy of which ordinance as adopted at such meeting appears in the
minutes of such meeting and is hereto attached. Such ordinance 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 the above ordinance were taken openly, that the vote on the adoption of such
ordinance 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, 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 Act
and the Illinois Municipal Code, as amended, and that the Corporate Authorities have complied
with all of the applicable provisions of such Act and such Code and their procedural rules in the
adoption of such ordinance.
IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of
the1ViJlage of Lemont, Illinois, this 9th day of May , 2011.
(SEAL)
,,,,e,),Lu
Village Clerk