O-33-96 AN ORDINANCE APPROVING THE CITY OF ELMHURST, ILLINOIS TAX INCREMENT REDEVELOPMENT PLAN AND PROJECT FOR THE ROUTE 83 / ST. CHARLES ROAD REDEVELOPMENT PROJECT AREA. WHEREAS, the City of Elmhurst, DuPage County, Illinois (the "City") desires to implement tax increment financing pursuant to the Tax Increment Allocation Redevelopment Act of the State of Illinois, 65 ILCS 5/11-74.4-1 et seq., as amended, (hereinafter referred to as the "Act") for the proposed City of Elmhurst, Illinois Rt. 83/St. Charles Road Tax Increment Redevelopment Area, described hi Exhibit "A" of this ordinance and for the Redevelopment Plan and Project (the "Project") described in Exhibit "B" of this Ordinance, which area constitutes hi the aggregate approximately 33.5 acres; and WHEREAS, pursuant to Section 5 of the Act, the City Council caused a public hearing to be held relative to the Project and a designation of the Route 83/St. Charles Road Redevelopment Project Area, on September 30, 1996 at the City Hall of the City; and WHEREAS, due notice in respect to such hearing was given pursuant to Sections 5 and 6 of the Act, said notice being given to taxing districts by certified mail on August 21, 1996, by publication on September 13, 1996 and September 20, 1996; and by certified mail to taxpayers on September 22, 1996; and WHEREAS, the City has convened a Joint Review Board in accordance with Section 65 ILCS 5/11-74.4-5 of the Act and has considered the Joint Review Board's Resolution which unanimously found that the eligibility criteria defined in Section 11-74-4-3 of the Act have been met and satisfied, and recommended that the City Council of the City of Elmhurst adopt the Redevelopment Plan and Project and designate the Area. WHEREAS, the Project and eligibility reports set forth the conditions in the proposed Route 83/St. Charles Road Redevelopment Project Area qualifying the area as a "a blighted improved area" as such term is defined in the Act, and the City Council has reviewed information concerning said conditions presented at the public hearing and Joint Review Board and this City Council and is generally informed of the conditions causing the proposed Route 83 - St. Charles Road Redevelopment Project Area to qualify as a blighted area detrimental to the public safety, health, morals or welfare as said term is defined in Section 11-74.4-3 of the Act; and WHEREAS, the City Council has reviewed the evidence pertaining to lack of private investment in the Route 83/St. Charles Road Redevelopment Project Area to determine whether 1 Copies To AI! Elected Officials of this Ordinance. The City may issue general obligations or revenue bonds, the proceeds of which will be used for the Project and which shall be retired on or prior to October 21, 2019 and the maturity of such obligations shall not exceed 20 years. Section 2. Plan and Project Approved. The Project which was the subject matter of the hearing held September 30, 1996 is hereby adopted and approved. A copy of said Redevelopment Plan and Project, is attached hereto as Exhibit "B" and made a part of this Ordinance. Section 3. Repealer. All ordinances or parts of ordinances in conflict with this ordinance are hereby amended to the extent of the conflict. Section 4. Publication and Partial Invalidity. This Ordinance shall be in full force and effect from and after its passage, approval and publication as provided by law. A full, true and complete copy of this Ordinance shall be published within ten (10) days after passage in pamphlet form by authority of the City Council. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity thereof shall not affect any of the other provisions of this Ordinance. Approved this \J// day of (yjj^^uu) 1996. Thomas D. MarcuccixMayor Passed this^2/^^-£—L - , da*y of ilMt$Ju^• *, 1996. Ayes: / Nays: Jan ordtiO LEGAL DESCRIPTION THAT PART OF THE SOUTHWEST QUARTER OF SECTION 2 AND OF THE SOUTHEAST QUARTER OF SECTION 3, TOWNSHIP 39 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, LYING SOUTHWESTERLY OF THE SOUTHWESTERLY RIGHT-OF-WAY LINE OF THE CHICAGO CENTRAL & PACIFIC RAILROAD, & LYING NORTH OF THE SOUTH RIGHT-OF-WAY LINE OF ST. CHARLES ROAD, & LYING WEST OF THE EAST RIGHT-OF-WAY LINE OF WEST AVENUE, & LYING EAST OF THE EASTERLY RIGHT-OF-WAY LINE OF ILLINOIS ROUTE # 83, ALL IN DUPAGE COUNTY, ILLINOIS. EXHIBIT *A" - LEGAL DESCRIPTION CITY OF ELMHURST, ILLINOIS REDEVELOPMENT PLAN AND PROJECT ROUTE 83/ST. CHARLES ROAD TAX INCREMENT REDEVELOPMENT PROJECT AREA Ausust 20. 1996 Prepared by the Citv of Elmhurst. DuPaee Countv, Illinois TABLE OF CONTENTS Subject I. INTRODUCTION AND BACKGROUND 4 II. BLIGHTING CONDITIONS EXISTING IN THE REDEVELOPMENT PROJECT AREA 7 III. REDEVELOPMENT PROJECT AREA GOALS AND OBJECTIVES 7 IV. REDEVELOPMENT PROJECT 8 A. City Redevelopment Plan and Project Objectives 8 B. Estimated Redevelopment Project Costs 9 C. Sources of Funds to Pay Redevelopment Project Costs 11 D. Nature and Term of Obligations to be Issued 12 E. Most Recent Equalized Assessed Valuation of Properties in the Redevelopment Project Area 13 F. Anticipated Equalized Assessed Valuation 13 V. COMMITMENT TO FAIR EMPLOYMENT PRACTICES AND AFFIRMATIVE ACTION 13 VI. IMPACT OF THE REDEVELOPMENT PLAN AND PROJECT ON TAXING DISTRICTS 14 VII. SCHEDULING OF THE REDEVELOPMENT PROJECT 14 VIII. PROVISIONS FOR AMENDING THE TAX INCREMENT REDEVELOPMENT PLAN AND PROJECT 14 LIST OF TABLES AND EXHIBITS Subiect Pase TABLE 1 REDEVELOPMENT PROJECT - ESTIMATED PROJECT COSTS 8 EXHIBIT A LEGAL DESCRIPTION 12 EXHIBIT B BOUNDARY MAP 13 EXHIBIT C CURRENT LAND USE MAP 14 EXHIBIT D PROPOSED LAND USE MAP 15 EXHIBIT E CRITERIA FOR QUALIFICATION 16 I. INTRODUCTION AND BACKGROUND The Citv of Elmhurst The City of Elmhurst; Illinois is generally bordered by Interstate 294 on the East, Roosevelt Road on the South, Illinois State Route 83 on the West and Grand Avenue on the North, The City was founded 77 years ago. As of the 1990 census, the City had a population of 42.029. Water is furnished from Lake Michigan and the City also maintains a sewage disposal system and a solid waste disposal. The City is governed by a Mayor, alderman and a City Manager to run daily operations. Also, the City maintains a Police Department of approximately 63, a Fire Department of approximately 38 with two fire stations and a public library. The City is located approximately 15 miles away from downtown Chicaso and is accessible by Tri-State tollway 294/Imerstate 290: Illinois State Route 83 & 64. The Redevelopment Project Area The proposed Route 83/St. Charles Road Redevelopment Project Area (the "RPA'M established pursuant to the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74. 4-1 et see.) (the "Act") represents a significant opportunity for commercial development within the City. Covering approximately 33.5 acres within City boundaries, the Route 83/St. Charles Road Redevelopment Project Area will provide land for a number of commercial facilities engaged in distribution of a diverse range of goods. Located at approximately the northwest corner of St. Charles Road and West Street and adjacent to Route 83 on the west side, it has access to Route 83, and access to interstates. The RPA is legally described in Exhibit A, attached and a pan hereof. A boundary map is attached and made a pan hereof as Exhibit B. Description of RPA The proposed Route 83/St. Charles Road Redevelopment Project Area consists of an area within the boundaries of the City located generally north of St. Charles Road (south of the Right Of Way ("R.O.W.") line), east of State Route 83 (Robert Kingery Highway), south of the Chicago Centra] & Pacific railroad tracks and west of West Avenue (east R.O.W, line). The RPA is greater than 1-1/2 acres. The total area of the RPA including the City of Elmhurst Public Works Facility ("Public Works Facility"), Shopping Center, West Avenue .and St. Charles R.O.W. is: approximately 1.459,550 square feet or 33.5 acres. The Public Works Facility comprise approximately 11.9 acres, the Shopping Center 18.8 acres and R.O.W. 2.8 acres. The Public Works Facility have approximately 52,000 square feet of building and the Shopping Center has 309,400 square feet for a total building area of approximately 361,400 SQuare feet. Despite its favorable location, the development of commercial sites has been impaired. The City plans to encourage a more comprehensive redevelopment of the RPA. In order to accomplish such redevelopment, the City has undertaken the designation of the RPA and begun to explore methods of providing the necessary improvements within the RPA. The relocation of the Public Works Facility will be required. Public assistance is required to promote redevelopment of the location of the Public Works Facility due to lack of suitable entry- ways and properly sized lots and buildings. The City plans on demonstrating a positive marketplace signaJ through commercial redevelopment of the Public Works site. The scope of existing commercial development needs to be addressed by the City. It is important to future tenants/owners of property within the RPA that the marketplace perceives the property favorably. The RPA on the whole has not been subject to growth and development through investment by private enterprise and it is not reasonably anticipated to be developed without the adoption of this Redevelopment Plan and Project. Evidence of this finding is manifest from the facts that the physical condition of privately owned real estate in the RPA has deteriorated to the point that it contains the various eligibility factors described in the eligibility study, which conditions have persisted for some time without correction and there has been no new investment in this part of the area for some time.