Ordinance 2005-060 ORDINANCE No. �oO
AN ORDINANCE 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 properties located within the corporate boundaries of the
City, as more fully described and depicted on Exhibit A, a copy of which is attached hereto and
made a part hereof (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 "TIFAct"); and,
WHEREAS, the TIF Act was created to promote and protect the health, safety, morals
and welfare of the public through the elimination and removal of adverse conditions in order to
encourage private investment and restore and enhance the tax base of the taxing districts in a
qualifying area; and,
WHEREAS, the City desires to designate URS Corporation, located at 122 South
Michigan Avenue, Chicago, Illinois (the "URS Corporation "), to undertake a feasibility study of
the Area and report the results thereof to the City in order to determine if the Area qualifies
under the Act as a "blighted" or "conservation" area, or a combination of both.
NOW, THEREFORE, BE IT ORDAINED by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Section 1. The recitals and findings contained in the preambles to this Ordinance are
incorporated herein and made a part hereof as if more fully set out in this Ordinance.
i
Section 2. The Mayor is hereby authorized to direct URS Corporation to undertake a
feasibility study to determine the eligibility of the Area as a redevelopment project area under the
TIF Act and to prepare a report with respect to such eligibility and to execute and deliver any and
all documents deemed necessary to accomplish said tasks.
Section 3. Pursuant to the TIF Act, once the City adopts tax increment financing, all real
estate tax revenue attributable to any increase in the assessed value of property included in a
"Redevelopment Project Area," as defined by the TIF Act, is distributed to the City for
reinvestment in the Area for specific purposes as permitted by the TIF Act.
Section 4. The City hereby agrees to reimburse itself for the costs incurred in connection
with the feasibility study and report in the event the TIF Act is adopted by the City for the Area
and incremental real estate taxes are available for payment of such costs pursuant to the TIF Act.
Section 5. 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 TIF Act, in the event the TIF Act is adopted for the Area;
which redevelopment project costs may include costs of studies, surveys, plans, architectural and
engineering services, acquisition of land, rehabilitation of existing buildings, construction of
public works and such other items as permitted by the TIF Act.
Section 6. The City Clerk shall cause copies of this Ordinance to be mailed by certified
mail 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 TIF Act and direct that any and all questions, comments,
suggestions or requests for information to Anton Graff, City Administrator, 800 Game Farm
Road, Yorkville, Illinois 60560, 630.553.4350.
Section 7. This Ordinance shall be in full force and effect from and after its passage and
approval.
ADOPTED by the Ma4005. City Council of the United City of Yorkville, Kendall
County, Illinois, this /Z- day
APPROVED:
4ayor
Attest:
I
I
i
4�:4lerk
yorknHe/studyrpkord
ExhibitA
Proposed TIF Area
At a point beginning at the City's eastern boundary at the northern bank of the
Fox River, then west to the River Road Apartments then North on Church Street
to River Road; then west to the City boundary; then south to the southern bank of
the Fox River, then westerly following the City boundary to the eastern border of
the White Oak Subdivision; then south to Van Emmon Street; then east to South
Main Street; then south to Fox Road; then east on Fox Road to Bell Street; then
north on Bell Street to a point approximately 300 feet south of Van Emmon
Street; then east to Mill Street; then north to Van Emmon Street; then east on Van
Emmon Street to the City boundary, then north on the boundary to the point of
beginning.
PROPOSED DOWN TIE DISTRICT
1 Jl ► ► J3l I
CENTER sr. � — SPRING
CENTER ST. — e
RLYERJNAD
Z N 1 (= y
BEHRENS STR
F . w• MAIN ST. E. MAIN
z y st --� S m
U
a
W E. MAIN STREET O
E. MAIN STRL.
m
W.
v~i HYDRAULIC - -
RIVER ST AVE = - ,Z -
- HYDRAULIO AM, -.
VAN EMMON;ST, _
U
w - h MON ST.
VAN EMMON ST.
In
WEST RIDGE ST. -
NtST RIDGE S
0
y RIDGE ST.
FOX ST. r
O R p• FOX ST
�y WASHINGTON ST. `iLJ_J
m WASHINGTON ST. _
G 5S• WA INGi i ST. i
T� �PSN�N < ORANGE ST.
OR ST.
I
NOT TO SCALE
JULY 12, 2005
�I
I