Ordinance 2003-12 STATE OF ILLINOIS )
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COUNTY OF KENDALL )
ORDINANCE NO. 2003- 1:X—
ORDINANCE AMENDING
UNITED CITY OF YORKVILLE LAND CASH ORDINANCE NO. 96-3
WHEREAS, THE UNITED CITY OF YORKVILLE, after careful consideration by the
Mayor and City Council, has determined it necessary to amend the Land Cash Ordinance#1996-
3 Section 1.C.5 Fair Market Value to reflect a substantial increase in the fair market value of
improved residential real estate based upon a study prepared by a certified appraiser and;
WHEREAS, THE UNITED CITY OF YORKVILLE, after careful consideration by the
Mayor and City Council, has determined that the "fair market value" for all residential improved
real property shall be determined by a study performed by the United City of Yorkville's direction
every three years or less commencing in the 2002-2003fiscal year;
WHEREAS, THE UNITED CITY YORKVILLE, after careful consideration by the Mayor
and City Council, has determined that it is in the best interests of the community to amend the
Section 1.C.5 Fair Market Value of the Land Cash Ordinance#1996-3.
NOW THEREFORE BE IT ORDAINED BY THE UNITED CITY OF YORKVILLE;
1. That Section 1.C.5 Fair Market Value of the Land Cash Ordinance #1996-3 is hereby
revoked; and a new Section 1.C.5. is created to read as follows:
a. The cash contributions in lieu of land shall be based on the"Fair market value"
of the acres of land in the area improved that otherwise would have been
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dedicated as park, recreation, or school sites. The "Fair market value" for any
parcel of residential real property shall be deemed to be fifty-eight thousand
dollars and 00/100($58,000.00)based upon the study of Thompson Appraisals.
The"Fair market value"of an area of residential real property shall be reviewed
by study every three (3) fiscal years or less, commencing May 1, 2003. In the
event of any objection by the subdivider,developer, or public body,the objector
shall submit an appraisal showing the"Fair market value"of such improved land
in the area of development of other evidence. Final determination of said"Fair
market value"per acre of such improved land shall be made by the City Council
based on such information submitted by the subdivider or developer and from
other sources as may be submitted to the City Council by affected parties."
2. The Impact Fee/Land Cash Value Analysis&Report prepared by Thompson Appraisals
dated December 1, 2002 is incorporated herein reference.
3. Any Ordinance or parts thereof in conflict with the provisions of this Ordinance are
hereby repealed to the extent of such conflict.
4. The various parts, sections, and clauses of this Ordinance are hereby declared to be
severable. If any part, sentence, paragraph, section, or clause is adjudged
unconstitutional or invalid by a Court of competent jurisdiction, the remainder of the
Ordinance shall not be affected thereby.
IN WITNESS WHEREOF,this Ordinance has been enacted this JL day of
2003. '
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MIKE ANDERSON JOSEPH BESCO
VALERIE BURD PAUL JAMES
LARRY KOT MARTY MUNNS
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ROSE SPEARS RICHARD STICKA
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
this day of A.D. 20-(L .
MAYOR
PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois
this T day of J( ,
A.D. 20-0-11 .
Attest:
CIT I RK
Prepared by:
Law Offices of Daniel J. Kramer
I I 07 S. Bridge St.
Yorkville, IL 60560
630.553.9500
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