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HomeMy WebLinkAbout#4070 True and Correct Copy CERTIFICATE THE UNDERSIGNED CERTIFIES THAT SHE IS THE CITY CLERK FOR THE CITY OF CANTON,ILLINOIS,AND THAT THE CITY COUNCIL ATA REGULARLY CONSTITUTED MEETING OF SAID CITY COUNCIL OF THE CITY OF CANTON ON THE 5114 DAY OF APRIL,2017 ADOPTED ORDINANCE NO.4070,A TRUE AND CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET. C GIVEN UNDER MY HAND AND SEAL THIS J DAY OF APRIL,2017. (SEAL) �.e 17n AP ' f-ROCK CITY CLERK CITY OF CANTON, ILLINOIS ORDINANCE NO. 4070 AN ORDINANCE ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE THIRD AMENDMENT TO THE REDEVELOPMENT PLAN AND PROJECTS FOR THE CANTON 1-DOWNTOWN/STM AVENUE TAX INCREMENT FINANCING DISTRICT PASSED BY THE CITY COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS, ON THE 5Th DAY OF APRIL,2017 PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY,ILLINOIS, THIS 5Th DAY OF APRIL,2017 EFFECTIVE: APRIL 5,2017 ORDINANCE 30F3 ORDINANCE NO.4070 CITY OF CANTON,FULTON COUNTY,ILLINOIS ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE THIRD AMENDMENT TO CANTON 1-DOWNTOWN/5TH AYE TAX INCREMENT FINANCING DISTRICT WHEREAS, the City of Canton, Fulton County, Illinois, (the "City") desires to adopt Tax Increment Allocation Financing pursuant to the Tax Increment Allocation Redevelopment Act,6511 f S 5/11-74.4-1 stseq.as amended,hereinafter referred to as the"Act";and WHEREAS,the City has adopted and approved the Third Amendment to the Redevelopment Plan and Projects,and designated a Redevelopment Project Area for the Area known as"Canton 1- Downtown/5th Ave TIP District"pursuant to the provisions of the Act,and has otherwise complied with all other conditions precedent required by the Act. NOW,THEREFORE,BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OP THE CITY OF CANTON,FULTON COUNTY,ILLINOIS,THAT: 1. The City of Canton,Fulton County,Illinois,hereby adopts Tax Increement Financing foe () the Third Amendment to the Canton 1-Downtown/5th Ave TIP District Redevelopment Plan and Projects as approved by Ordinance No. 4068 and (n) the Redevelopment Project Area as amended and designated by Ordinance No.4069 and further described in Exhibit A P rgal Description)and Exhibit B(BoundaryMap),both of which are attached hereto and made part of this Ordinance. 2. After the equalized assessed valuation of each tract of taxable real property in the Redevelopment Project Area as amended exceeds the initial equalized assessed value of each tract of taxable real property in the Redevelopment Project Area as amended,the ad valorem taxes, if any, arising from the levies upon real property in the Redevelopment Area as amended by taxing districts and the rates determined in the manner provided in Section 11-74.4-9(b)of the Act each year after the effective date of this Ordinance until the Redevelopment 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 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 as amended 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 Redevelopment Project Area as amended over and above the lower of the current equalized assessed value or the initial equalized assessed Page 1 ORDINANCE 3 OF 3 value of each parcel of property in the Redevelopment Project Area as amended shill be allocated to and when collected shall be paid to the municipal treasurer who shall deposit said funds in a special fund Sled the"Special Tax Allocation Fund"for the Redevelopment Project Area as amended of the municipality for the purpose of paying the Redevelopment Project costs and obligations incurred in the payment thereof, pursuant to such appropriations which may he subsequently made. 3. Al ordinances and parts of ordinances in conflict herewith are hereby repealed. 4. This Ordinance shall be in full force and effect from and after its passage and approval as provided by law. PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton,Illinois on the Ss day of April,A.D.,2017,and deposited and filed in the Office of the City Clerk of said City on that date. MAYOR&CITY COUNCIL AYE VOTE NAY VOTE ABSTAIN/ABSENT Gerald Ellis X Ryan Mahew X Angela Hale X Jambi Nelson X Craig West X John Lovell X ABSENT Tad Putrich X ABSTAIN Jeffrey Fritz,Mayor TOTAL VOTES: 5 0 2 APPROVED: a Date: oaf0ez/eloe/ MAI We_ _ ATTEST: /�� Date: ofd/fl ':lest k Exhibit(A)Attached,Canton l-Downtown/Sth Ave TIP District Amended Legal Description Exhibit(B)Attached,Canton 1-Downtown/5th Ave TIP District Amended Boundary Map Page 2 ORDINANCE 3 OF3 EXHIBIT A CANTON 1-DOWNTOWN/5TH AVENUE TIF DISTRICT AMENDED LEGAL DESCRIPTION A part of Sections 26,27, 34 and 35 all in Township 7 North,Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois, further described as follows: Beginning at a point being the intersection of the southerly right-of-way line of East Chestnut Street and the westerly right-of-way line of North Second Avenue; Thence southerly along the westerly right-of-way line of North Second Avenue 133 feet,more or less;Thence easterly across North Second Avenue,248 feet,more or less; Thence southerly 76 feet,more or less;Thence easterly 116 feet,more or less;Thence northerly 82 feet, more or less;Thence easterly across North Third Avenue,380 feet,more or less;Thence northerly 130 feet,more or less,to a point on the southerly right-of-way line of East Chestnut Street, Thence easterly 492 fee;more or less,along the southerly right-of-way line of East Chestnut Street across North Fourth Avenue to a point being the intersection of the southerly right-of-way line of East Chestnut Street and the westerly right-of-way line of North Fifth Avenue;Thence southerly along the westerly right-of-way of North Fifth Avenue 132 feet,more or less; Thence easterly across North Fifth Avenue,m a point in the east right-of-wayline of North Fifth Avenue,said point being 132 feet,more or less,south of the intersection of the southerly right-of-way line of East Chestnut Street and the easterly right-of-way line of North Fifth Avenue;Thence continuing easterly 157 feet,more or less; Thence southerly 162 fat, more or less;Thence westerly 78,feet more or less; Thence southerly 126 feet,more or less,to a point in the north right-of-way line of East Elm Street, said point being 78 feet more or less east of the intersection of the north right-of-way line of East Elm Street and the east right-of-way line of North Fifth Avenue;Thence continuing southerly across East Elm Street 66 feet,more or less,to a point in the south right-of-way line of East Elm Street, said point being 78 feet, more or less, east of the intersection of the south right-of-way line of East Elm Street and the east right-of-way line of South Fifth Avenue;Thence continuing southerly 132 feet,more or less; Thence easterly 79,feet more or less; Thence southerly 66, feet more or leas; Thence westerly 79 feet more or less; Thence southerly 132 feet,more or less,m a point in the north right-of-way line of East Pine Street,said point being 78 feet, more or less, east of the intersection of the north right-of-way line of East Pine Street and the east right-of-way line of South Fifth Avenue;Thence continuing southerly across East Pine Street 66 feet, more or less,to a point in the south right-of-way line of East Pine Street,said point being 78 feet,more or less, east of the intersection of the south right-of-way line of East Pine Street and the east right-of-way line of South Fifth Avenue;Thence southerly 132 feet,more or less; Thence easterly 78 feet,more or less; Thence southerly 132 feet,more or less;Thence westerly 47 feet,more or less; Thence southerly 147 feet,more or less,to a point in the north right-of-way line of East Walnut Street, said point being 110 feet,more or less,east of the intersection of the north tight-of-way line of East Walnut Street and the east tight-of-way line of South Fifth Avenue;Thence easterly along the north right-of-way line of East Walnut Street 36 feet,more or less,to a point being the intersection of said north right-of-way line of East Walnut Street and the extension of the east right-of-way line of the alley between South Fifth Avenue and South Sixth Avenue; Thence southerly across East Walnut Street to the intersection of the south right-of-way line of East Walnut Street and the east right-of-way line of said alley between South Fifth Avenue and South Sixth Avenue; Thence southerly along said east right-of-way line of the alley,across East Maple Street and Anderson Place,and continuing to a point 47 feet,more or less,south of the south right-of-way line of Anderson Place;Thence westerly 16 feet, more or less;Thence southerly 172 feet,more or less; Thence westerly 52 fee;more or less; Thence southerly 40 feet,more or less,to a point in the north right-of-way line of Grant Place,said point being Page 3 ORDINANCE 30F3 80 feet,more or less,east of the intersection of the north right-of-way line of Grant Place and the east right-of-way line of South Fifth Avenue;Thence easterly along the north right-of-way line of Grant Place 66 feet,more or less,to a point being at the intersection of said north right-of-way line of Grant Street and the extension of the east right-of-way line of the alley between South Fifth Avenue and South Sixth Avenue;Thence southerly across Grant Place 60 feet,more or less, to a point where the south right-of-way line of Grant Place intersects said east right-of-way line of the alley lying between South Fifth Avenue and South Sixth Avenue;Thence continuing southerly 1570 feet,more or less,along the east right-of-way line of the alley lying between South Fifth Avenue and South Sixth Avenue,which crosses over East Oak Street,East Hickory Street,and East Cherry Street to the intersection of said east tight-of-way line of the alley and the north right-of-way line of East Linn Street Thence westerly 385 feet,more or less,along said north right-of-way line of East Linn Street and across South Fifth Avenue to a point being the intersection of said north right-of-way line of East Linn Street and the west right-of-way line of the alley between South Fourth Avenue and South Fifth Avenue;Thence northerly 390 feet,more or less,along said west right-of-way line of the alley between South Fourth Avenue and South Fifth Avenue, to a point being 21 feet, more or less, north of the intersection of said west 4u-of-way line of said alley and the south right-of-way line of East Cherry Street;Thence westerly 195 feet,more or less,to a point on the east right-of-way line of the Burlington Northern Railroad;Thence northerly 821 feet,more or less,along said east right-of-way line of the Burlington Northern Railroad, which crosses East Hickory Street,to the intersection of said east right-of-way line of the Burlington Northern Railroad and the south right-of-way line of East Oak Street;Thence easterly 33 feet,more or less,along said south right-of-way line of East Oak Street to the intersection of said south right-of-way line of East Oak Street and the east right-of-way line of South Fourth Avenue;Thence northerly along said cast right-of-way line of South Fourth Avenue,which crosses East Oak Street,Anderson Place,and East Maple Street,to the intersection of said east right-of-way line of South Fourth Avenue and the north right-of-way line of East Maple Street Thence westerly along said north sight-of-way line of East Maple Street to the intersection of said north right-of-way line of East Maple Street and the east right-of-way line of South Third Avenue;Thence northerly along said east right-of-way line of South Third Avenue to the intersection of said east right-of-way line of South Third Avenue and the south tight-of-way line of East Elm Street Thence westerly along said south right-of-way line of East Elm Street to the intersection of the south right-of-way line of East Elm Street and the west right-of-way line of South Second Avenue;Thence southerly along the west right-of-way line of South Second Avenue which crosses Pine Street and continues to the intersection of said west right-of-way line of South Second Avenue and the north right-of-way line of Walnut Street Thence easterly 49 feet,more or less, to the intersection of said north right-of-way line of Walnut Street and the east right-of-way line of South Sernnd Avenue;Thence southerly along said east right-of-way line of South Second Avenue, which crosses East Walnut Street and East Maple Street,and continues to a point being 100 feet south of the intersection of the south right-of-way line of East Maple Street and the cast right-of-way line of South Second Avenue;Thence easterly 188 feet,more or less,to the west right-of-way line of the alley east of South Second Avenue;Thence southerly along said west right-of-way line of the alley 150 feet, more or less; Thence westerly 188 feet,more or less,to the east right-of-way line of South Second Avenue;Thence southerly 150 feet, more or less, along the east right-of-way line of South Second Avenue to the intersection of the east right-of-way line of South Second Avenue and the northerly right-of-way line of the T.P.&W.Railroad;Thence westerly 266 feet,more or less,along the northerly right-of-way line of the T.P.&W.Railroad,crossing South Second Avenue to the west tightof-wayline of the alley between South First Avenue and South Second Avenue;Thence northerly 816 feet,more or less, along said west right-of-way line of the alley between South First Avenue and South Second Avenue which crosses East Maple Street and continues to the intersection of said west right-of-way line Page 4 ORDINANCE 3 0 F 3 of the alley and the south right-of-way line of East Walnut Street Thence westerly along the south right-of-way line of East Walnut Street across South First Avenue to a point being the intersection of said south right-of-way line of East Walnut Street and the extension of the west right-of-way line of White Court Thence northerly across East Walnut Street and continuing along the west right-of-way line of White Court to the intersection of said west right-of-way line of White Court and the south right-of-way line of East Pine Street;Thence westerly along said south right-of-way line of East Pine Street,which crosses South Main Street to a paint being the intersection of said south right-of-way line of West Pine Street and the extension of the west right-of-way line of South Avenue A; Thence northerly across West Pine Street and continuing along said west right-of-way line of South Avenue A which crosses West Elm Street and West Chestnut Street,to a point being the intersection of the west right-of-way line of North Avenue A and the extension of the south right-of-way line of the alley between West Locust Street and West Chestnut Street,said point being 124 feet,more or less,south of the south right-of-way of West Locust Street•,Thence easterly across North Avenue A and continuing along said south right-of-way line of the alley between West Locust Street and West Chestnut Street, to a point being in the west right-of-way line of Market Court Thence northerly along the westerly right-of-way line of Market Court, 86 feet more or less;Thence northwesterly continuing along the westerly right-of-way line of Market Court,25 feet,more or less,to a point being the intersection of said westerly right-of-way line of Market Court and the southerly tight-of-way line of West Locust Street Thence easterly along the southerly right-of-way line of West Locust Street 178 feet, more or less; Thence southeasterly,along the southerly tight-of-way line of West Locust Street 49 feet,more or less, to a point being on the westerly right-of-way line of Main Street;Thence southerly along the westerly right-of-way line of Main Street 205 feet,more or less;Thence easterly 445 feet,more or less,which crosses Main Street and continues to a point being on the westerly right-of-way line of North First Avenue;Thence southerly along said westerly right-of-way line of North First Avenue 189 feet,more or less, to the intersection of said west right-of-way line of North First Avenue and the south right-of-way line of East Chestnut Street Thence easterly across North First Avenue and continuing along said south right-of-way line of East Chestnut Street 445 feet, more or less, to the Point of Beginning. 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