O-07-09 Ord Adopting Tax Increment - Gateway Redevelopment Project Area(3)
ORDINANCE NO. c - b
AN ORDINANCE ADOPTING TAX INCREMENT
FINANCING FOR THE VILLAGE OF LEMONT, ILLINOIS
GATEWAY 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
public meeting, public hearing and joint review board actions, preliminary to the designation of
the Gateway Redevelopment Project Area (the "Redevelopment Project Area," as described in
the attached Exhibit A), the approval of the Tax Increment Finance, Village of Lemont, Gateway
Redevelopment Project Area, Redevelopment Plan and Project, June 2008 (the "Redevelopment
Plan" and "Redevelopment Project ") and the adoption of tax increment financing to finance
the Redevelopment Plan and the 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 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 the related Redevelopment Project
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 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 from the initial base date of the date
of adoption of this ordinance (but shall be 24 years in connection with the Municipality's right
under the TIF to receive the 23`d year of incremental property taxes by December 31 in the 24th
year, i.e. December 31, 2034) from the adoption of the ordinance�app i ,iiig healti elopment
Project Area. G
(3)
ORDINANCE NO. o. 0 -1-o9
AN ORDINANCE ADOPTING TAX INCREMENT
FINANCING FOR THE VILLAGE OF LEMONT, ILLINOIS
GATEWAY 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
public meeting, public hearing and joint review board actions, preliminary to the designation of
the Gateway Redevelopment Project Area (the "Redevelopment Project Area," as described in
the attached Exhibit A), the approval of the Tax Increment Finance, Village of Lemont, Gateway
Redevelopment Project Area, Redevelopment Plan and Project, June 2008 (the "Redevelopment
Plan" and "Redevelopment Project ") and the adoption of tax increment financing to finance
the Redevelopment Plan and the 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 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 the related Redevelopment Project
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 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 from the initial base date of the date
of adoption of this ordinance (but shall be 24 years in connection with the Municipality's right
under the TIF to receive the 23`d year of incremental property taxes by December 31 in the 24th
year, i.e. December 31, 2034) from the adoption 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, and under the TIF Act shall obtain a certificate
from such County Clerk as to the total initial equalized assessed value "EAV" of all taxable
property in the Redevelopment Project Area. In providing this certification, the County Clerk
shall use the levy year 200 in determining such total initial EAV.
[The remainder of this page is intentionally left blank.]
Voting "Aye" (names): Blatzer, Coules, Reaves, Miklos, Virgilio, Stapleton
Voting "Nay" (names):
Absent (names):
ATThST:
Charlene M. Smollen, Village Clerk
Approved this 19 day of January , 2008 2009
John F. ' iazza, Village P esid
Recorded in the Municipality's Records on the above adoption date.
EXHIBIT A
GATEWAY REDEVELOPMENT PROJECT AREA
LEGAL DESCRIPTION
The Redevelopment Project Area encompasses an area south of the I &M Canal along IL Rt.
83 /Tri State Road to Archer Avenue. The area is generally bounded by the line starting at the
northeast corner of parcel 22 -11 -500 -002 then southeast along the northern property lines of
parcels 22 -14- 201 -038, 22 -14 -201 -039, and 22 -14- 201 -037 and the western property line of
parcel 22 -14 -201 -002; then south along the west property line of 22 -14 -201 -037 and 22 -14-
201-03 8, then northerly along the eastern property line of parcel 22 -14- 200 -020; then
southwesterly along the western property line of parcel 22 -14- 200 -020; then easterly along the
southern property line of parcel 22-14-200-020; then southwesterly along the western property
line of parcel 22 -14 -500 -005; then east along the southern property line of parcel 22- 14 -500-
005; then northeasterly along the east property line of parcel 22 -14 -500 -005; then east along
the southern property line of parcel 22 -14 -200 -0 12; then northerly along the eastern property
line of parcel 22 -14- 200 -012; then easterly along the southern property line of parcel 22 -14-
200 -026; then south along the western property line of parcel 22 -14- 200 -010 and 22-14 -201 -
015; then west along the northern property lines of parcels 22 -14- 400 -026 and 22 -14- 400 -37;
then south along the west property line of 22- 1 4- 400 -037; then west along the northern
' property lines of parcels 22 -14- 400 -024 and 22 -14- 400 -018; then south along the west
property line of parcel 22 -14- 400 -018; then east along the south property lines of parcels 22-
14- 400 -018, 22 -14- 400 -024, 22 -14- 400 -039, 22 -14- 400 -038, and 22 -14- 400 -021; then south
along the western property line of 22 -14 -400 -0 14 to the southern boundary of the right -of-
way of Chicago - Joliet Road, excluding parcels 22 -14- 400 -017 and 22 -14- 400 -019; then east
along the southern boundary of the right -of -way of Chicago - Joliet Road; then south along the
western property lines of 22 -14- 402 -003 and 22 -23- 203 -003 to the southern boundary of the
right -of -way of Archer Avenue; then northeasterly along the southern boundary of the right -of-
way of Archer Avenue to the eastern boundary of the right -of -way of Archer Bell Avenue;
then north along the eastern boundary of the right -of -way of Archer Bell Avenue, then west
along the northern property line of 22 -23- 203 -011; then north along the eastern property line
of 22 -14- 402 -013 to approximately the center of the right -of -way of Chicago - Joliet Road; then
east along approximately the center of the right -of -way of Chicago- Joliet Road to the eastern
boundary of the right -of -way of Archer Bell Road, excluding parcels 22 -14- 402 -017, 22 -14-
402 -008, 22 -14- 402 -018, 22 -14- 402 -015, and 22 -14- 402 -016; then north along the eastern
boundary of the right -of -way of Archer Bell Road; then west along the northern property line
of parcel 22 -14 -401 -009; then north along the eastern property line of parcel 22 -14- 401 -024;
then west along the northern property lines of parcel 22 -14- 401 -024 and 22 -14 -401 -023; then
north along the eastern property line of parcel 22 -14- 401 -028; then east along the southern
property line of parcel 22 -14- 401 -03 1 to the eastern boundary of the right -of -way of Tri State
Road, excluding parcels 22 -14- 401 -010, 22 -14- 401 -017, 22 -14 -401 -026, and 22 -14- 401 -029;
then northwesterly along the eastern boundary of the right -of -way of Tri State Road; then west
along the northern property lines of parcels 22 -14- 401 -030 and 22 -14- 401 -001; then north
along the eastern property line of parcel 22 -14 -201 -015; then westerly along the northern
property line of 22 -14- 201 -015; then north along the eastern property line of parcel 22- 14 -200-
010; then east along the southern property line of parcel 22 -14 -201 -055; then northerly along
the eastern property line of parcel 22 -14 -201 -055; then easterly along the southern property
line of parcel 22 -14- 201 -055; then northerly along the eastern property line of parcels 22 -14-
201 -055 and 22 -14- 201 -025; then southeasterly along the southern boundary of the right -of-
way of 107th Street; then northwesterly along the eastern boundary of the right -of -way of
Public Road, then southwesterly along the southern property line of parcel 22 -14- 201 -044,
then northwesterly along the eastern property line of parcel 22 -14- 201 -041, then easterly along
the eastern properly lines of parcel 22 -14 -201 -045 and 22 -14- 201 -023; then east along the
southern property line of parcels 22 -11 -100 -007 and 22 -11 -100 -006, excluding parcels 22 -14-
201 -044, 22 -14- 201 -021, and 22 -14 -502 -005; then north along the eastern property lines of
parcels 22 -11 -100 -006, 22 -11 -100 -007, 22 -11 -100 -013, and 22 -11 -500 -002 to the point of
beginning.
-6-
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 January 19
2008, insofar as same relates to the adoption of Ordinance No. 0_p7_09 , entitled:
AN ORDINANCE ADOPTING TAX INCREMENT FINANCING FOR THE VILLAGE
OF LEMONT, ILLINOIS GATEWAY 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
the agenda for such meeting was duly posted at the Village Hall at least 48 hours prior to the
meeting, 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
the Village of Lemont, Illinois, this 19 day of January , 2008 2009
Village Clerk