HomeMy WebLinkAboutORDINANCE - 3359 - 11/19/2013 - TAX INCREMENT FINANCINGORDINANCE NO. 3359
AN ORDINANCE OF THE VILLAGE OF ELK GROVE VILLAGE, ILLINOIS
AUTHORIZING AN ELIGIBILITY STUDY FOR CERTAIN PROPERTY TO
DETERMINE ELIGIBILITY OF THE PROPERTY FOR TAX INCREMENT
FINANCING
WHEREAS, the Village of Elk Grove Village (the "Village") is a home rule
municipality as described in Section § 6(a) Article VII of the 1970 Constitution of the State of
Illinois, and as such may exercise any power and function pertaining to its government and
affairs;
WHEREAS, pursuant to Section § 11-74.4-4.2 of the Tax Increment Allocation
Redevelopment Act, 65 ILCS § 5/11-74.4-1, et seq. (the "TIF Act'), the Village is studying the
possible designation of certain real property located within the Village, commonly known as the
Village's Business Park ("Park") to determine if it qualities as a "redevelopment project area" as
that term is defined in the Act.
WHEREAS, the Village is required to adopt an ordinance authorizing the preparation of
an eligibility study to determine if property qualifies under the terms of the TIF ACT;
WHEREAS, the property to be studied for the possible designation of a Redevelopment
Project Area is generally depicted on Exhibit A attached hereto;
WHEREAS, if the Village proceeds in designating the Property as a Redevelopment
Project Area, the general purpose will be to upgrade and maintain the infrastructure within the
Park and to provide TIF assistance to stabilize existing businesses and attract new businesses to
the Park, thereby stabilizing the tax base of the Village and its taxing districts.
WHEREAS, the Village desires to adopt this ordinance in order to comply with such
requirements of the TIF Act;
NOW, THEREFORE, BE IT ORDAINED by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, Illinois as follows:
Section 1: The above recitals are incorporated herein and made a part hereof.
Section 2: The Village Manager, or his designee, is hereby authorized and directed to
engage Camiros, Ltd. to conduct an eligibility study of the area described in Exhibit A attached
hereto in accordance with Section § 11-74.4-4.2 of the Act.
Section 3: If a preliminary finding of eligibility is made, Camiros is hereby authorized to
prepare a draft redevelopment Plan as defined by the TIF Act.
Section 4: Upon passage of this Ordinance, a copy will be sent to each of the affected
taxing districts listed on Exhibit B attached hereto;
Section 5: The Village Manager or his designee may be contacted for additional
information about the proposed Redevelopment Project Area and all comments and suggestions
regarding the Property to be studied.
Section 6: If any provision of this ordinance shall be held to be invalid or unenforceable
for any reason, the invalidity or unenforceability of such provision shall not affect any of the
other provisions of this ordinance.
Section 7: All ordinances, resolutions, motions or orders in conflict with this ordinance
are hereby repealed to the extent of such conflict.
Section 8: That this Ordinance shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 19th day of November 2013.
APPROVED this 19th day of November 2013.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan, Village Clerk
Attachments:
Exhibit A: General Depiction of Study Area
Exhibit B: List of Affected Taxing Districts
ORD—Final EGV Authorize TIF Study
EXHIBIT B
Busse -Elmhurst TIF Taxing Districts
Elk Grove Township Northwest Mosquito Abatement District
2400 South Arlington Heights Road 147 West Hintz Road
Arlington Heights, IL 60005 Wheeling, IL 60090
Elk Grove Village Public Library
1001 Wellington Avenue
Elk Grove Village, IL 60007-3391
Community Consolidated School District 59
2123 South Arlington Heights Road
Arlington Heights, IL 60005-4105
Arlington Heights Township High School
District 214
2121 South Goebbert Road
Arlington Heights, IL 60005
Elk Grove Park District
1000 Wellington Avenue
Elk Grove Village, IL 60007
Mt. Prospect Park District
1000 West Central Road
Mount Prospect, IL 60056
Elk Grove Rural Fire Protection District
1415 East Algonquin Road
Arlington Heights, IL 60005
Harper Community College District 512
1200 West Algonquin Road
Palatine, IL 60007
Village of Elk Grove Village
901 Wellington Avenue
Elk Grove Village, IL 60007
Metropolitan Water Reclamation District of
Greater Chicago
100 East Erie Street
Chicago, IL 60611
Cook County Forest Preserve District
536 North Harlem Avenue
River Forest, IL 60305
Cook County
118 North Clark Street
Chicago, IL 60602
Illinois Department of Commerce and
Economic Opportunity
James R. Thompson Center
100 West Randolph Street
Chicago, IL 60601