HomeMy WebLinkAboutORDINANCE - 3760 - 5/24/2022 - Adopting Tax Increment Financing for Arlington-HigginsORDINANCE NO.3760
AN ORDINANCE ADOPTING TAX INCREMENT FINANCING FOR THE VILLAGE
OF ELK GROVE VILLAGE, COOK AND DUPAGE COUNTIES, ILLINOIS, IN
CONNECTION WITH THE DESIGNATION OF THE ARLINGTON-HIGGINS
REDEVELOPMENT PROJECT AREA AND ADOPTION OF THE ARLINGTON-
HIGGINS REDEVELOPMENT PLAN AND PROJECT
WHEREAS, it is desirable and for the best interests of the residents of the Village of Elk
Grove Village, Cook and DuPage counties, Illinois (the "Village"), for the Village to adopt tax
increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act,
Division 74.4 of Article 11 of the Illinois Municipal Code, as amended (the "Act"); and
WHEREAS, the Mayor and Board of Trustees (the "Corporate Authorities") have
heretofore approved a redevelopment plan and project (the "Plan" and "Project ") as required by
the Act by passage of an ordinance, and have heretofore designated the Arlington -Higgins
Redevelopment Project Area (the "Area") as required by the Act by the passage of an ordinance,
and the Village has otherwise complied with all other conditions precedent required by the Act:
NOW THEREFORE, BE IT ORDAINED by the Mayor and Board of Trustees of the
Village of Elk Grove, Cook and DuPage counties, Illinois, in exercise of its home -rule authority
as follows:
Section 1: Tax Increment Financing Adopted. Tax increment allocation financing is
hereby adopted to pay redevelopment project costs as defined in the Act and as set forth in the
Plan and Project within the Area as described in Exhibit A attached hereto and incorporated herein
as if set out in full by this reference. The street location (as near as practicable) for the Area is
described in Exhibit B attached hereto and incorporated herein as if set out in full by this reference.
The map of the Area is depicted on Exhibit C attached hereto and incorporated herein as if set out
in full by this reference.
Section 2: Allocation ofAd 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 "2022 Village of Elk Grove, Arlington -Higgins
Redevelopment Project Area Special Tax Allocation Fund" of the Village, 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.
ARLINGTON-HIGGINS TIF ORDINANCE THREE -ADOPTING TIF
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.
Section 5: Transmittal to County Clerk. The Village Clerk is hereby expressly directed
to transmit forthwith to the County Clerk of Cook County, Illinois, a certified copy of this
ordinance.
VOTE: AYES: Trustees Schmidt, Prochno, Lissner, Feichter, Franke, Miller
NAYS: None
ABSENT: None
PASSED this 2411 day of May 2022
APPROVED this 2411 day of May 2022
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Loretta M. Murphy, Village Clerk
ARLINGTON-HIGGINS TIF ORDINANCE THREE -ADOPTING TIF
EXHIBITS
Exhibit A: Legal Description
Exhibit B: Description of Street Location
Exhibit C: Map of Area
Exhibit A
Legal Description
Arlington -Higgins Redevelopment Project Area
1. ALL THAT PART OF THE SOUTHEAST QUARTER OF SECTION 21, TOWNSHIP 41 NORTH, RANGE
11, EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS:
2. BEGINNING AT THE NORTHWEST CORNER OF LOT 2 IN SCHNELL'S DIVISION, BEING A
SUBDIVISION IN SECTION 21 AFORESAID, BEING ALSO THE INTERSECTION OF THE CENTERLINE
OF HIGGINS ROAD WITH THE CENTERLINE OF ARLINGTON HEIGHT ROAD LYING SOUTH OF
HIGGINS ROAD;
3. THENCE SOUTHEASTERLY ALONG SAID CENTERLINE OF HIGGINS ROAD TO THE SOUTHERLY
EXTENSION OF THE CENTERLINE OF ARLINGTON HEIGHTS ROAD LYING NORTH OF HIGGINS
ROAD AFORESAID;
4. THENCE NORTHERLY ALONG SAID SOUTHERLY EXTENSION AND THE CENTERLINE OF
ARLINGTON HEIGHTS ROAD LYING NORTH OF HIGGINS ROAD TO THE WESTERLY EXTENSION OF
THE NORTH LINE OF LOT 2 IN MOBIL OIL AND THE FIRST NATIONAL BANK OF CHICAGO'S ELK
GROVE VILLAGE RESUBDIVISION OF PART OF LOT 62 IN HIGGINS ROAD COMMERCIAL
SUBDIVISION UNIT 41 AND PART OF LOT 4 IN ARTHUR B. SCHARRINGHAUSEN'S RESUBDIVISION
OF PARTS OF SECTIONS 21 AND 22;
5. THENCE EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF LOT 2 IN MOBIL
OIL AND THE FIRST NATIONAL BANK OF CHICAGO'S ELK GROVE VILLAGE RESUBDIVISION, AND
THE EASTERLY EXTENSION THEREOF TO THE EAST LINE OF RANDALL STREET;
6. THENCE SOUTH ALONG SAID EAST LINE OF RANDALL STREET TO THE NORTH LINE OF LOT 1 IN
HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 23, BEING A RESUBDIVISION IN THE
SOUTHEAST QUARTER OF SECTION 21 AFORESAID;
7. THENCE EAST ALONG SAID NORTH LINE OF LOT 1 IN HIGGINS ROAD COMMERCIAL
SUBDIVISION UNIT NO. 23 TO THE NORTH LINE OF LOT 1 IN JOHN L. MARKAY RESUBDIVISION IN
THE SOUTHEAST QUARTER OF SECTION 21 AFORESAID;
8. THENCE EAST ALONG SAID NORTH LINE OF LOT 1 IN JOHN L. MARKAY RESUBDIVISION AND
THE EASTERLY EXTENSION THEREOF TO THE EAST LINE OF KELLY STREET;
9. THENCE SOUTH ALONG SAID EAST LINE OF KELLY STREET TO THE NORTH LINE OF LOT 1 IN
THE RESUBDIVISION OF LOT 80 (EXCEPT THE EAST 200 FEET THEREOF IN HIGGINS ROAD
COMMERCIAL SUBDIVISION UNIT NO. 50) IN SECTION 21 AFORESAID;
10. THENCE EAST ALONG SAID NORTH LINE OF LOT 1 IN THE RESUBDIVISION OF LOT 80 (EXCEPT
THE EAST 200 FEET THEREOF IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 50) TO
THE NORTHEAST CORNER THEREOF;
11. THENCE SOUTH ALONG THE EAST LINE OF LOT 1 IN THE RESUBDIVISION OF LOT 80 (EXCEPT
THE EAST 200 FEET THEREOF IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 50) TO
THE NORTH LINE OF LOT 2 IN HARDY'S RESUBDIVISION OF THE EAST 200 FEET OF LOT 80 IN
HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 50 AFORESAID;
12. THENCE EAST ALONG SAID NORTH LINE OF LOT 2 IN HARDY'S RESUBDIVISION OF THE EAST
200 FEET OF LOT 80 IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 50 TO THE WEST
LINE OF GORDON STREET;
13. THENCE SOUTH ALONG SAID WEST LINE OF GORDON STREET AND THE SOUTHERLY
EXTENSION THEREOF TO THE SOUTH LINE OF HIGGINS ROAD;
14. THENCE NORTHWESTERLY ALONG SAID SOUTH LINE OF HIGGINS ROAD TO THE EASTERLY
LINE OF LOT 1 IN ELK GROVE VILLAGE SECTION 1 NORTH, BEING A SUBDIVISION IN THE
SOUTHEAST QUARTER OF SECTION 21 AFORESAID;
15. THENCE SOUTH AND SOUTHWESTERLY ALONG SAID NORTHERLY EXTENSION AND THE
EASTERLY LINE OF LOT 1 IN ELK GROVE VILLAGE SECTION 1 NORTH TO THE SOUTHERLY LINE
THEREOF;
16. THENCE NORTHWESTERLY ALONG SAID SOUTHERLY LINE OF LOT 1 IN ELK GROVE VILLAGE
SECTION 1 NORTH, AND THE WESTERLY EXTENSION THEREOF TO THE CENTERLINE OF
ARLINGTON HEIGHTS ROAD, BEING ALSO THE EASTERLY LINE OF LOT 2 IN ED PINGEL'S DIVISION,
BEING AN OWNER'S DIVISION OF PART OF THE SOUTH HALF OF SECTION 21 AFORESAID;
17. THENCE NORTHERLY ALONG SAID EASTERLY LINE OF LOT 2 IN ED PINGEL'S DIVISION TO THE
WESTERLY LINE OF LOT 1 IN SCHNELL'S DIVISION AFORESAID, BEING ALSO THE CENTERLINE OF
ARLINGTON HEIGHTS ROAD AFORESAID;
18. THENCE NORTHERLY ALONG SAID WESTERLY LINE OF LOT 1 IN SCHNELL'S DIVISION, BEING
ALSO THE CENTERLINE OF ARLINGTON HEIGHTS ROAD, TO THE SOUTHWEST CORNER OF LOT 2
IN SCHNELL'S DIVISION AFORESAID;
19. THENCE CONTINUING NORTHERLY ALONG THE WESTERLY LINE OF LOT 2 IN SCHNELL'S
DIVISION, BEING ALSO THE CENTERLINE OF ARLINGTON HEIGHT ROAD, TO THE NORTHWEST
CORNER OF LOT 2 IN SCHNELL'S DIVISION, BEING ALSO THE INTERSECTION OF THE CENTERLINE
OF HIGGINS ROAD WITH THE CENTERLINE OF ARLINGTON HEIGHT ROAD LYING SOUTH OF
HIGGINS ROAD, AND THE POINT OF BEGINNING;
20. IN COOK COUNTY, ILLINOIS.
EXHIBIT B:
Description of Street Location
Arlington -Higgins Redevelopment Project Area
The Arlington -Higgins Redevelopment Project Area includes properties with frontage on the north side of
Higgins Road between Arlington Heights Road and Gordon Street and commercial parcels on the east side
of Arlington Heights Road south of Higgins Road and north of Oakwood Drive.
EXHIBIT C
MAP OF ARLINGTON—HIGGINS
REDEVELOPMENT PROJECT AREA
Figure 1: Redevelopment Project Area Boundary
Elk Grove Village - Arlington -Higgins TIF
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