Resolution 2000-29 RESOLUTION No. a.000� ��j
A RESOLUTION PROVIDING FOR A FEASIBILITY STUDY
AND REPORT WITH RESPECT TO THE DESIGNATION
OF AN AREA AS A TAX INCREMENT FINANCING
REDEVELOPMENT PROJECT AREA
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City"), desires
to conduct a feasibility study of certain property described and depicted on Exhibit A attached to
this Resolution and located within the City (such property is referred to in this Resolution as the
"Area") in order to determine the eligibility of the Area as a "redevelopment project area"
pursuant to the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-
1 et seq., (the "Act"); and,
WHEREAS, the City desires Trkla, Pettigrew, Allen & Payne of Chicago, Illinois
TPAP") to undertake a study and the preparation of a report with respect to whether the Area
demonstrates factors that adversely impact on real property in the Area and whether or not the area
qualifies as a "redevelopment project area" pursuant to the Act.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the United City of
Yorkville, Kendall County, Illinois, as follows:
Section 1. The recitals contained in the preambles to this Resolution are incorporated in
this Resolution as if set out fully herein.
Section 2. The Mayor of the City is hereby authorized and directed to direct Trkla,
Pettigrew, Allen& Payne to undertake a feasibility study to determine the eligibility of the Area
as a redevelopment project area under the Act due to factors that adversely impact on real property
the Area and to certify the existence of such conditions.
Section 3. pursuant to the Act, once the City adopts tax increment financing, all real estate
tax revenue attributable to any increase in the assessment of property included in a "redevelopment
project area" is distributed to the City for reinvestment in the Area for certain purposes permitted
by the Act.
Section 4. The City Council hereby agrees to reimburse itself for the costs incurred in
connection with the feasibility study and report in the event the Act is adopted by the City for the
Area and incremental real estate taxes are available for payment of such costs pursuant to the Act.
Section S. The City Council also agrees to consider the paying of certain redevelopment
project costs as defined by the Act from incremental real estate taxes in the Special Tax Allocation
Fund as defined by the Act, in the event the Act is adopted for the Area; such redevelopment
project costs may include costs of studies, surveys, plans, architectural and engineering services,
uisition of land, rehabilitation of existing buildings, construction of public works and such
other items as permitted by the Act.
Section 6. The City Clerk shall cause copies of this Resolution to be mailed to all taxing
districts that would be affected by such designation in accordance with the provisions of Section
11-74.4-4.1 of the Act and direct that any and all questions, comments, suggestions or requests
for information be directed to:
James Nanninga, City Administrator
800 Game Farm Road
Yorkville, Illinois 60560
Section 7. This Resolution shall be in full force and effect from and after its passage and
approval.
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PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois,
this iV-qa y of �e�t� 2000.
APPROVED:
Mayor
Attest:
Cle
yo�riaia.aay�
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Fox Industrial Park TIF District Legal Description
That part of the NW quarter of Section 4, Township 36 North, Range 7 East of the Third
Principal Meridian, and that part of the NE quarter of Section 5, township and range
aforesaid, commencing at the northeast corner of said Section 5, thence South 89°40'05"
West along the north line of the northeast quarter of Section 5, 655.52' to the centerline
tangent of Illinois Route No.47 extended from the south, thence South 1°44'07"East
along said centerline tangent and along the centerline of said Illinois Route No.47,
475.21' to the Point of Beginning, thence South 89 °58'06" East , 1526.28', thence North
0°01'54" East, 350.00', thence South 89 °58'06" East , 319.43', thence North 0 025'09"
East, 191.58' to the southwesterly right-of-way line of Illinois Route No.126, thence
South 57 '34'51" East along said right-of-way line, 734.65' to the westerly line of the
Abandoned Fox and Illinois Union Railway, thence South 09 °09'49" West, 1541.23'
along said westerly line, thence along a curve to the left with a radius of 1693.20', an arc
distance of 196.20', thence North 81°52'08" West, 373.19' to the southeast corner of Fox
Industrial Park Unit 4, thence North 81052'08" West, 528.93' along the south line of said
Fox Industrial Park Unit 4, thence North 81°52'08" West, 470.59', thence North
1 044'07" West, 390.06' to the southwest corner of Fox Industrial Park Unit 5, thence
North 81°52'08" West, 477.07' to the centerline of Illinois Route No.47, thence North
1044'07" West, 1268.83' to the Point of Beginning, containing 78.11 acres, more or less.