O-86-67ORDINANCE NO. 0 -86 -67
ORDINANCE DESIGNATING A REDEVELOPMENT PROJECT AREA
AND ADOPTING TAX INCREMENT ALLOCATION FINANCING IN
THE VILLAGE OF DEERFIELD, ILLINOIS
WHEREAS, the Village of Deerfield, Illinois desires to
implement tax increment financing pursuant to the Tax Increment
Allocation Redevelopment Act, as amended, constituting Division
74.4 of Article 11 of the Illinois Municipal Code (hereinafter
referred to as the "Act ") for the Redevelopment Plan and
Redevelopment Project approved and adopted pursuant to an ordi-
nance adopted by the President and'Board of Trustees of the
Village on December 15, 1986 and entitled: "Ordinance Approving a
Tax Increment Redevelopment Plan and Redevelopment Project in the
Village of Deerfield, Illinois" (the "Redevelopment Ordinance ").
WHEREAS, it is now necessary to designate the area
referred to in said plan as a Redevelopment Project Area as pro-
vided in the Act and to authorize tax increment allocation finan-
cing with respect to such Redevelopment Project Area.
WHEREAS, the area described in Section 1 of this ordi-
nance constitutes, in the aggregate, more than 1 -1/2 acres and
has been determined to include a "Conservation Area" within the
meaning of Section 11- 74.4 -3(b) of the Act.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF DEERFIELD, ILLINOIS, AS
FOLLOWS:
Section 1. The following legally described area is
hereby designated as a Redevelopment Project Area pursuant to
Section 11- 74.4 -4 of the Act:
That Tart of the southwest 4 of Section 28, the
southeast 4 of Section 29, the northeast a of Section 32, and
the northwest a of Section 33, Township 43 North, Range 12,
East of the third principal meridian, described as follows:
Commencing at the point of intersection of the center line of
Hazel Avenue and the center line of Chestnut Street; thence
easterly along the center line of Hazel Avenue to the north-
-easterly right -of -way line of Waukegan Road; thence south -.
easterly along said right -of -way line to the center line of
Orchard Street; thence easterly along said right -of =way to
point directly north of the northwest corner of Lot 14,
Owners' Homestead Subdivision; thence southerly along the
western property line of Lots 14, 16, 17 and portion of 20,
Owners' Homestead Subdivision to a point 41.80' north of the
southwest corner of Lot 20 in said subdivision; thence east
and parallel to the south lot line of Lot 20, Owners' Home-
stead Subdivision to a point on the western right -of -way line
of Todd Court if extended south; thence north along said line
to the southwest corner of Todd Court; thence east along the
right -of -way line of Todd Court to the center line of Todd
Court; thence south along the center line of Todd Court if
extended a distance of 10.0'; thence east and parallel to the
north property line of Lot 26; Owners' Homestead Subdivision
a distance of 25.0'; thence south and parallel to the west
property line of said Lot 26 to the south property line of
said Lot 26; thence east along the south property line of
said Lot 26 to the east property line of said lot; thence
south along the west property lines of Lots 31, 30, and 29,
O.B. Von Linde's Subdivision to the southwest corner of said
Lot 29; thence east along the south property line of said Lot
29 to the center line of Rosemary Terrace; thence south along
said centerline to the north right -of -way line of Deerfield
Road; thence southeasterly in a straight line to the north-
east corner of Lot 4, William W. Clark's Subdivision; thence
south along the east property line to the southeast corner of
said Lot 4; thence west along the south property line to the
northwest corner of Lot 8, Goldman's North Shore Golf Links
Subdivision; thence southeasterly along the western property
line of said Lot 8 to the southeast corner of Lot 1, Lynn's
Whittier Avenue Subdivision; thence westerly along the south
property line of said Lot 1 to a point 75' west of the north-
east corner of Lot 3, Lynn's Whittier Avenue Subdivision;
thence south and parallel to the east property line of said
Lot 3 to the south property line of said Lot 3; thence
southwesterly along said property line and the northwesterly
property line of Lot 51, Goldman's North Shore Golf Links
Subdivision to the northeast corner of said lot 51; thence
southeasterly along southwest property line of lots 51, 54,
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and 55, Goldman's North Shore Golf Links Subdivision to the
northwest corner of Lot 57, Goldman's North Shore Golf Links
Subdivision; thence southwesterly along the northwest proper-
ty line of said Lot 57 to the northeast right -of -way line of
Waukegan Road; thence southeasterly along said right -of -way
line to a point directly east of the northeast corner (abuts
Waukegan Road) of Lot 19, Owner's First Addition to Deer-
field; thence west to aforesaid point and continuing due west
a distance of 277.22' more or less; thence northwest of
aforesaid line 1050 22' 23" a distance of 51.88'; thence
northerly to the southeast corner of Lot 1, Woodman's Resub-
division; thence westerly to the southwest corner of Lot 3,
Matty's Resubdivision; thence south along the west property
line of said Lot 3 if-extended a distance of 10.30'; thence
south 23 0E a distance of 356.95' to a point which is 305'
easterly of the center line of the right -of -way of the
Chicago, Milwaukee, St. Paul and Pacific Railway Company,
measured at a right angle thereto; thence southerly and
parallel to the easterly right -of -way line of said railway a
distance of 300'; thence westerly at a right angle to the
last described line a distance of 255' to the northeast
right -of -way line of said railway; thence northwesterly along
said right -of -way line to the center line of Central Avenue;
thence due west to the center line of Elm Street; thence
northwesterly along said center line to the center line of
Sunset Court; thence west along said center line to a point
directly south of a point 126.8' west of the aforementioned
western railway right -of -way line on a line 30' north of and
parallel to the center line of Sunset Court; thence north a
distance of 202' more or less; thence west 55'; thence north
to the south right -of -way line of Deerfield Road; thence west
along said right -of -way line to the center line of Chestnut
Street; thence north along said center line to the point of
beginning, all in the Village of Deerfield, County of Lake,
State of Illinois.
Section 2. Pursuant to Section 11- 74.4 -8 of the Act,
tax increment allocation financing is hereby adopted with respect
to the Redevelopment Plan and Project approved by virtue of the
adoption of the Redevelopment Ordinance and with respect to the
Redevelopment Project Area designated in Section 1 of this ordi-
nance. Ad valorem taxes, if any, arising from the levies upon
real property in the Redevelopment Project Area by taxing dis-
tricts and the rates determined in the manner provided in Section
11- 74.4 -9(c) of the Act each year after the effective date of
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this ordinance until the Redevelopment Project Costs and obliga-
tions 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 attribut-
able 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 Redevelopment Project
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 at-
tributable to the increase in the current equalized assessed
valuation of each taxable lot, block, tract or parcel of real
property in the Redevelopment Project Area over and above the
initial equalized assessed value of each property in the Redevel-
opment Project Area shall be allocated to and when collected
shall be paid to the Village Treasurer who shall deposit said
finds in a special fund called the "Village Center Special Tax
Allocation Fund" of the Village for the purpose of paying
Redevelopment Project Costs and related to the Redevelopment
Project Area and obligations incurred in the payment thereof.
The Village hereby pledges the funds in and to be de -- --__
posited in the Village Center Special Tax Allocation Fund for the
purpose of paying Redevelopment Project Costs related to the
Redevelopment Project Area and obligations incurred in the
payment thereof.
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Section 3 The Village Clerk be and is hereby directed
to publish this Ordinance in pamphlet form.
Section 4 The Village Clerk is hereby authorized to
file a certified copy of this ordinance with (a) the County
Clerk of Lake County within five days after the effective date'of
this Ordinance, and (b) the Illinois Department of Revenue and
the Illinois Department of Commerce and Community Affairs within
thirty days after the effective date of this Ordinance.
Section 5. This ordinance shall become effective in
the manner provided by law.
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Adopted and approved this 15th day of December, 1986 by
roll call vote as follows:
Ayes: Marovitz, Marty, Rosenthal, Seidman. Swanson, York (6)
Nays: None (0)
Absent: None (0)
(SEAL)
Approved:
Village President
Z est:
Village C er
Published in pamphlet form this 15th day of December,
1986.
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CERTIFICATE
I, Naomi Clampitt, Village Clerk of the Village of
Deerfield, Illinois, hereby certify that the foregoing ordinance
entitled: "Ordinance Designating a Redevelopment Project Area
and Adopting Tax Increment Allocation Financing in the Village of
Deerfield, Illinois," is a true copy of an original ordinance
which was duly adopted by the recorded affirmative votes of a
majority of the President and members of the Board of Trustees of
the Village at a meeting thereof which was duly called and held
at 8:00 p.m. on December 15, 1986 at the Village Hall at 850
Waukegan Road, and at which a quorum was present and acting
throughout, and that said copy has been compared by me with the
original ordinance signed by the President, and recorded in the
Ordinance Book of the Village and that it is a correct transcript
thereof and of the whole of said ordinance, and that said
ordinance has not been altered, amended, repealed or revoked, but
is in full force and effect.
. IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the seal of the Village this 15th day of December, 1986.
(SEAL)
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12/10/86
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