Loading...
City Council Packet 2005 02-15-05 .to co., United City of Yorkville J2 0-e, County Seat of Kendall County a 800 Game Farm Road EST. _ 1836 Yorkville, Illinois, 60560 Telephone: 630-553-4350 o d 0 Fax: 630-553-7575 � Website: www.yorkville.il.us AGENDA CITY COUNCIL SPECIAL MEETING Tuesday, February 15, 2005 CITY COUNCIL CHAMBERS 7:00 PM Call to Order: 7:00 p.m. Pledge of Allegiance: Roll Call by Clerk: WARD I WARD II WARD III WARD IV Rich Sticka Valerie Burd Marty Munns Joe Besco Paul James Larry Kot Wanda Ohare Rose Ann Spears Establishment of Quorum: 1. Ordinance Designating the US Route 34 and IL Route 47 (Countryside Shopping Center) a Tax Increment Redevelopment Project Area Pursuant to the Tax Increment Allocation Redevelopment Act 2. Ordinance Adopting Tax Increment Allocation Financing for the US Route 34 and IL Route 47 (Countryside Shopping Center) Tax Increment Redevelopment Project Area Adjournment Committee of the Whole Immediately Following Special Meeting .Feb 10 2005 3: 41PM TARP 312-382-2124 p. 1 LAW OFFICES KATHLEEN FIELD OSE & ASSOCIATES SUITE 1990 ONE SOUTH WACKER DRIVE CEICAGO, ILLINOIS 60606 (312)392-2113 KATHLEEN FIELD ORR FAX 4312)382-2124 P.JOSEPH MONTANA MEMORANDUM To: Liz D'Anna, Deputy Clerk From: Kathleen Field Orr, Special Counsel Date: February 10, 2005 Subject: TIF Ordinance I am in receipt of Ordinance No. 2005-10 which was adopted by the City Council in connection with the TIF. The law requires two additional ordinances be adopted by the City Council. The Ordinance adopted in January approved the Redevelopment Plan. The law requires the City Council to (i) designate the `redevelopment project area" and (ii) to adopt tax increment financing for the designated redevelopment area. These Ordinances are attached to this memo. Since these ordinances must be adopted within ninety(90)days of the public hearing which took place November 23,2004, we are requested that they be considered by the City Council at a Special Meeting on February 15, 2005. If you have any questions,please call. /kms Feb 10 2005 11 : 40AM TARP 312-382-2124 p. 2 ORDINANCE No. AN ORDINANCE OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, DESIGNATING THE U.S. ROUTE 34 AND ILL. ROUTE 47 (COUNTRYSIDE SHOPPING CENTER) A TAX INCREMENT REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT 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 implement tax increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act(the "Act"), as amended 65 ILCS 5/11-74.4-1 et seq. for a redevelopment project and plan (the "Project and Plan") within the municipal boundaries of the Municipality and within a proposed redevelopment project area (the "Area") described in Section 1 of this Ordinance; and, WHEREAS, the Mayor and City Council of the Municipality (the "Corporate Authorities") have heretofore by ordinance adopted and approved the Project and Plan, which Project and Plan were identified in such ordinance and were the subject, along with the Area designation hereinafter made, of a public hearing held on the 23id day of November,2004, at the Yorkville City Hall, and it is now necessary and desirable to designate the Area as a "redevelopment project area" pursuant to 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. Area Designated. The Area, as legally described inExhibit A attached hereto and incorporated herein as if set out in full by this reference, is hereby designated as a redevelopment project area pursuant to Section 11-74.4-4 of the Act. The map of the Area is depicted on Exhibit B attached hereto and incorporated herein as if set out in full by this reference. Feb 10 2005 11 : 40AM TARP 312-382-2124 p. 3 • Section 2. 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 3. Superseder and Effective Date. All ordinances, resolutions, motions or orders in conflict herewith 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. PASSED this day of , 2005. APPROVED: Mayor AYES: • NAYS: ABSENT: Attest: City Clerk yorkvinekh[6.ord 2 .Feb 10 2005 11 : 40AM TARP 312-382-2124 p. 4 Exhibit A Legal Description Feb 10 2005 11 : 40RM TPRP 312-382-2124 p. 5 Exhibit B Map AMMMM ,Feb 10 2005 11 : 40RM TPRP 312-382-2124 p. 6 ORDINANCE No. AN ORDINANCE OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE U.S. ROUTE 34 AND ILL. ROUTE 47 (COUNTRYSIDE SHOPPING CENTER) TAX INCREMENT REDEVELOPMENT PROJECT 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 l[T 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. Section 2. Allocation of Ad Valorem Taxes. Pursuant to theAct, the ad valorem taxes, if any, arising from the levies upon taxable real property in the Area by taxing districts and tax Feb 10 2005 11 : 40AM TARP 312-382-2124 P. 7 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. 2 ,Feb 10 2005 11 : 40RM TPRP 312-382-2124 P. 8 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. PASSED this day of , 2005. APPROVED: Mayor AYES: NAYS: ABSENT: Attest: City Clerk yo.Milwrif7.ord 3 Feb 10 2005 11 : 40AM TARP 312-382-2124 p. 9 Exhibit A Legal Description Feb 10 2005 11 : 41AM TPAP 312-382-2124 p. 10 Exhibit B Map