Ordinance 2006-048 f, f
Ordinance No. 8 C04c;4%
AN ORDINANCE
OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS,
ADOPTING TAX INCREMENT FINANCING FOR THE
DOWNTOWN YORKVILLE TAX INCREMENT FINANCING REDEVELOPMENT
PROJECT PLAN AND AREA
WHEREAS, it is desirable and in the best interests of the citizens of the United City of
Yorkville, Kendall County, Illinois (the "Municipality "), for the Municipality to adopt tax
increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act, as
amended (the 'Act ") 65 ILCS 5/11- 74.4 -1 et. seq.; and,
WHEREAS, the Mayor and City Council of the Municipality (the "Corporate
Authorities ") have heretofore approved a redevelopment project and plan (the "Project and
Plan ") as required by the Act by passage of an ordinance and have heretofore designated a
redevelopment project area (the "Area ") as required by the Act by the passage of an ordinance
and the Municipality has otherwise complied with all other conditions precedent required by the
Act.
NOW, THEREFORE, BE IT ORDAINED by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Section 1. Tax Increment Financing Adopting. Tax increment allocation financing is
hereby adopted to pay redevelopment project costs as defined in the Act and as set forth in the
Project and Plan within the Area as legally described in Exhibit A attached hereto and
incorporated herein as if set out in full by this reference. The map of the Area is depicted on
Exhibit B attached hereto and incorporated herein as if set out in full by this reference.
C�j 1 IE�ENDALI
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JUN 2 9 2Cv 3
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Section 2. Allocation of Ad Valorem Taxes. Pursuant to the Act, the ad valorem taxes,
if any, arising from the levies upon taxable real property in the Area by taxing districts and tax
rates determined in the manner provided in Section 11- 74.4 -9(c) of the Act each year after the
effective date of this Ordinance until the Project costs and obligations issued in respect thereto
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 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 lot, block, tract or parcel
of real property in the Area over and above the initial equalized assessed
value of each property in the Area shall be allocated to and when collected
shall be paid to the municipal treasurer or to his designee pursuant to
Section 207A of the Revenue Act of 1939 of the State of Illinois, as
amended, who shall deposit said taxes into a special fund, hereby created,
and designated the United City of Yorkville Tax Increment Financing
Redevelopment Project Area Special Tax Allocation Account" of the
Municipality, and such taxes shall be used for the purpose of paying
Project costs and obligations incurred in the payment thereof.
Section 3. Invalidity of Any Section. If any section, paragraph or provision of this
Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph or provision shall not affect any of the remaining
provisions of this Ordinance.
Section 4. Superseder and Effective Date. All ordinances, resolutions, motions or
orders in conflict herewith be, and the same hereby are, repealed to the extent of such conflict,
and this Ordinance shall be in full force and effect immediately upon its passage by the
Corporate Authorities and approval as provided by law.
ADOPTED this day o , 2006.
APPROVED:
ayor
AYES:
NAYS: —"
ABSENT:
Attest:
�Ck
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Exhibit A
I
Legal Description
boo l 6 i l`4 i
JAMES M. OL30N ASSOCIATES, LTD.
Illinois Professional Land Surveyors
Land Surveyors & Land Planners
107 West Madison Street
Yorkville, Illinois 60560
Phone. 630 - 553 -0050 Fax: 630 - 553-0964
March 24, 2005
Legal Description for City of Yorkville
Downtown T.II" District
That part of Section 32 and part of the West Half of Section 33, Township 37
North, Range 7 East of the Third Principal Meridian described as lbilows. Commencing
at the Northwest comer of the Northeast Quarter of Section 4, Township 36 North,
Range 7 East of the Third Principal Meridian; thence North 01 East parallel with
the East line of the Southwest Quarter of said Section 33, a distance of 1355.81 feet to
a point on the South line of a tract described in a Quit Claim Deed from Palos Bank and
Trust Company, Trust No. 1 -1620 to Bruce 0. and Virginia J. Buhrmester, his wife,
recorded as Document No. 83 -5890 an December 23, 1983 which is 45.43 feet
westerly, as measured along said South line, of the Southeast comer of said tract;
thence South 88°48'09" East 45.43 beet to said southeast comer, thence North
88 1 48'09" West along said South line 415.06 feet to a westerly line of said tract; thence
North 01 East along said westerly line 246.0 Beet to a southerly line of said tract;
thence North 88 9 48'09" West along said southerly line to the West line of the farmer
Fox and Illinois Union Railway Company right-of-way, thence North 08 0 10'52° East
along said West line to an fold claim linen drawn southeasterly from the Southeast
comer of Price's First Addition to Yorkville; thence northwesterly along said "old claim
line" 486.54 feet to the Southeast comer of said Prices' Addition; thence northerly along
the East line of said Price's Addition 367.63 feet to the Northeast comer thereof, thence
westerly along the North line of said Price's Addition 526.3 feet to the midpoint on the
South line of B lock 13 of Black's Addition to Yorkville; thence northerly 297.85 feet to
the midpoint on the North line of said Block 13; thence westerly along the South line of
VanEmmon Street 119.50 feet to the l=ast line of Mill Street; thence southerly along
said East line to the South line of Lot 6 in °'Ter -Jac Subdivision° extended easterly;
thence westerly along said extended South line, said South line and said South line
extended westerly 164.5 feet to the West line of the East 6 feet of Lot 1 in said "Ter -Jac
Subdivision", thence southerly along said West line 84.11 feet to the South line of said
Lot 1; thence westerly along said South line of Lot i a distance of 190.0 feet to the
West line of Heustis Street; thence northerly along said West line to a point which is
JAMES M. OLSON ASSOCIATES, Lrb.
1111hols Professional Land Surveyors
Land Surveyors & Land Planners
107 West Madison Street
Yorkvft Illinois 60560
Phone. 630. 553-0050 Fax: 630 - 5530964
234.30 feet southerly of, as measured along said West line, the South line of
Vant5mmon Street; thence westerly along a line which forms an angle of 92 °16' with the
last described course, measured clockwise therefrom, 175.0 feet; thence southerly
parallel with said West line of Heustis Street 80.0 feet, thence westerly parallel with the
penultimate course 52.0 feet, thence southerly along a line which forms an angle of
88°23' with the last described course, measured clockwise therefrom, 2 63.50 feet;
thence westerly along a line which forms an angle of 88°44' with the last described
course, measured counterclockwise therefrom, 188.0 feet to the East line of Bell Street,
thence southerly along said East line 259.04 feet to the South line of Fox Street; thence
westerly along said South line of Fox Street to the East Line of Illinois State Route No.
47; thence southerly along said East line to the South line of Lot 6 in Block 5, Mason's
Addition to Yorkville "'thence westerly along the South line of Lots 6 and 7 in said
Mason's Addition to the West line of said Route No. 47; thence southerly along said
West line to the South line. of a tract of land described in a deed recorded January 26,
1988 as Document 880498; thence westerly along the south line of said tract and the
south line of a tract described in a deed recorded February 6, 1990 as Document
900871 to the west line of Lot 5 in Block 11 of the Original Village of Yorkville extended
southerly; thence northerly along the West line of Lots 5 and 4 in said Block 11 to the
Southeast comer of Lot 2 in said Block 11; thence westerly along the South line of said
Lot 2 and said South line extended to the West line of South Main Street, thence
northerly along said West line to the South line of VanEmmon Street, thence westerly
along said South line to the East line extended southerly of Lot 3 in Block 4 of Black's
Addition to Yorkville extended southerly; thence northerly along said extended East line
and said East line to the Northeast comer of said Lot 3; thence northerly along the East
line of Lot 4 in said Addition 40.30 feet; thence easterly along a line which forms an
angle of 89 with the last described course, measured counterclockwise therefrom,
38.8 feet; thence northeasterly along a line which forms an angle of 136°00' with the
last described course, measured clockwise therefrom, 14.1 feet, thence northerly along
a line which forms an angle of 225 with the last described course, measured
counterclockwise therefrom 32.0 feet, thence easterly along a line which forms an angle
of 109°53' with the last described course, measured counterclockwise therefrom, 64.33
feet to the West line of Adams Street, thence northerly along said West line 27.0 feet to
the North line of said Block 4; thence westerly along said North line 223.82 feet to the
JAMES M. OLSON ASSOCIATES, LTD.
Illinois Profassional Land Surveyors
Land Surveyors & Land Planners
107 West Madison Street
Yorkville, Illinois 60560
Phone: 630. 553 -0050 Fax: 630 - 553-0964
East line of Morgan Street, thence southerly along said East line 240.55 feat to the
center line of VanEmmon Street, thence westerly along said center line and the center
line of vacated VanEmmon Street and said center line extended westerly to the East
line of Lot 3 in Block 24 of said Black's Second Addition; thence northerly along said
east line to the south line of the north 143.0 feet to said Lot 3; thence westerly along the
south line of the northerly 143.0 feet of Lots 3 and 4 in said Block 24 to the west line of
said Lot 4; thence southerly along said west line to the north line of Madison Court;
thence westerly along said north line to the west line of Madison Court; thence
southerly to the Northeast comer of Block 23 in said Black's Second Addition, thence
westerly along the North line of said Block 23 a distance of 198.0 feet to the Northwest
comer thereof, thence southerly along the West line of said Block 23 a distance of
190.0 feet to the South line of Madison Street extended westerly, thence westerly along
said extended South line 58.22 feet to a line drawn parallel with and 100.0 feet westerly
of the West line of Lot 7 in Block 21 in said Black's Second Addition; thence southerly
along said parallel line 99.91 feet to the South line extended westerly of said Lot 7;
thence westedy along said extended South line 172.07 fret to the East line of White
Oak Farm Unit 1; thence northerly along said East line, said East line extended and the
East line of White Oak Farm Unit 2 to the southerly bank of the Fox River, thence
easterly along said southerly bank to a line drawn South from the confluence of
Blackberry Creek; thence North along said line to the North bank of the Fox River,
thence easterly along said North bank to the eastem corporate limits of the United City
of Yorkville, thence southerly along said corporate line to the East line of the Southeast
Quarter of said Section 33, thence southerly along said East line to the point of
beginning in the United City of Yorkville, Kendall County, Illinois.
Exhibit B
Map
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a Downtown Yorkville
Tax L►crement Fimmehig
1sly srRrcr a 12edek'elopment Pro ect Area
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Figure 1: Project Area Rounda►h'
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