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HomeMy WebLinkAboutOrdinance #0999 s .ri' 1 t ORDINANCE N0. 999 AN ORDINANCE APPROVING THE 1983 AMENDMENT TO THE TAX INCREMENT REDEVELOPMENT PLAN AND REDEVELOPMENT PROJECT OF THE CITY OF CANTON, ILLINOIS APPROVED BY ORDINANCE NO. 621 ON DECEMBER 27, 1977. WHEREAS, the City of Canton, Illinois has previously implemented tax increment financing pursuant to the Real Property Tax Increment Allocation Redevelopment Act of the State of Illinois, §11-74.4-1 et seq., Chapter 24, Illinois Revised Statutes; and, WHEREAS, the Canton City Council on December 27, 1977 by Ordinance No. 621 approved the Tax Increment Redevelopment Plan and Redevelopment Project (Tax Increment Area #1); and, WHEREAS, the Canton City Council has determined that it is necessary and in the best interest of the City of Canton to consider certain amendments to the Tax Increment Redevelopment Plan and Redevelopment Project; and, WHEREAS, pursuant to such determination, the Canton City Council has caused public hearings to be held relative to the proposed 1983 Amendment; and, WHEREAS, due notice in respect to such hearings was given to the various taxing districts by certified mail, by publication, and by certified mail to taxpayers; and, WHEREAS, subsequent to such public hearings the City of Canton has determined to amend the 1983 Amendment; and, WHEREAS, notice of such amendment has been given as required by §11-74.4-5 of the Act; and, WHEREAS, the 1983 Amendment, e rms to the Comprehensive Plan of the City. NOW, THEREFORE, BE IT ORDAINE Y THE CITY CIL OF THE CITY OF CANTON, Fulton County, Illinois as fpl~oll~a~:~9a4 1. That the Canton City Council hereT~y makes the following findings: a. That implementation of t •~~ent, as amended, to the Tax Increment RedevelopmentF~.~~~N~T~e~~velopment Project (Tax Increment Area #1) is necessary and in the best interest of the City of Canton. b. That the 1983 Amendment, as amended, conforms to the Comprehensive Plan of the City. c. That since the presentation of the proposed 1983 Amendment at the aforesaid public hearings, changes have been made in the 1983 Amendment and notice of such changes has been published pur- suant to the requirements of the Act. Such changes do not alter the exterior boundaries of the Redevelopment Project Area, do not substantially affect the general land uses established in the Re- development Plan, and do not substantially change the nature of the Redevelopment Project. r' ~ ~ ~ d. That those parcels of real property located within the Redevelopment Project Area as set out in the 1983 Amendment, as amended, will benefit from the changes set forth in the 1983 Amendment, as amended. 2. That the 1983 Amendment, as amended, hereto attached as Exhibit "A" and herein fully incorporated by reference, is hereby adopted and approved. 3. That, to the extent inconsistant with the 1983 Amendment adopted and approved by this Ordinance, the Tax Increment Redevelopment Plan and Redevelopment Project (Tax Increment Area #1) formerly adopted and approved by Ordinance No. 621 is hereby amended and that in- consistant provisions thereof are hereby repealed. That, in all other respects, the Tax Increment Redevelopment Plan and Redevelop- ment Project (Tax Increment Area #1) is hereby ratified and re- confirmed. 4. That this Ordinance shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois, and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a regular meeting this 16th day of January , 19 84 upon a roll call vote as follows: AYES: Aldermen Horr, May, Sarff, Savill, Savill, Kovachevich. NAYS: Aldermen Workman, Hammond. ABSENT: None. APPROVED: `i ~ - ' ---~. p ~ -Vii-c~tor A. Kovachevich, Mayor Pro Tem. ATTEST: ~~ Nand White , City Clerk. -2- 1983 AMENDMENT TO THE CANTON REDEVELOPMENT PLAN AND REDEVELOPMENT PROJECT I. INTRODUCTION: On December 27, 1977, the City of Canton, Illinois adopted the Canton Redevelopment Plan and Redevelopment Project (herein- after referred to as the "Plan") pursuant to the provisions of the Real Property Tax Increment Allocation Redevelopment Act of the State of Illinois (the "Act"). The Plan has been in effect for over five years and certain projects within the initial phase, as Fulton Square, the proposed retail shopping complex, and an addition to Coleman Clinic have been completed. Also, improvements have been made to public streets and construction has taken place in Jones Park. Parking lots have been developed. Mathews Clinic and the Rushford Office Building have been built. The basic goals of the Plan remain the same. The objective of the City is the elimination of the conditions of blight and obsolescence and encouraging private investment in new commercial facilities. These goals are to be accomplished by: A. Creating marketable commercial redevelopment sites within the Central Business District through the application of appropriate land assemblage techniques, including the acquisition and removal of deteriorated and/or obsolete buildings, with ultimate disposition to private developers. B. Supplementing redevelopment site availability and desirability through judicious vacation of existing public street rights-of-way. C. Providing those public facilities, including but not limited to off-street parking, underground utility and i- r ~ street improvements, that will he required to create an attractive shopping, pedestrian oriented environment which will properly support future private investments. Since the adoption of the Plan, however, both the public and private sectors have expressed a need for a change in the manner in which goals are to be achieved which require amendment of the Plan. The City, therefore, proposes amendments to the Plan, and this document constitutes the 1983 Amendment to the Plan (and is hereinafter referred to as the "1983 Amendment"). Wherever any language of the 1983 Amendment is inconsistent with the language of the Plan, the language of the 1983 Amendment is to prevail. Wherever the language of the Plan is not incon- sistent with the language of the 1983 Amendment, the language of the Plan is to remain in full force and effect and is reaffirmed by the adoption of this 1983 Amendment. Each of the headings and titles set forth herein refers to the corresponding heading. and title in the Plan. II. PLAN AND PRnJECT 08JECTIVES - Plan and Project Objectives as set forth in II, page 2 of the Plan, remain the same. These are reaffirmed by this 1983 Amendment. III. LEGAL DESCRIPTION Two blocks which were within the circumference of the Rede- velopment Area of the Plan, but which were excluded, Blocks 18 and 41, are now included. Therefore, there is a new legal description attached to the 1983 Amendment as Exhibit No. 1, which includes these two blocks. 2 ' l ~ +, To the extent the legal description in the Plan is inconsistent, it is amended. IV. CURRENT LAND USE & CONDITION , There is no amendment to the language of IV of the Plan as it applied to the original Redevelopment Area. In reference to new Blocks 18 and 41, which this 1983 Amendment includes, both these blocks contain conditions which qualify them as part of the Conservation Area encompassed by the Plan. A majority of the buildings in both Blocks 18 and 41 are over 35 years old. As a result of advanced age, a large portion of the buildings in both these blocks are suffering from deterioration. Certain of the buildings contain conditions which are below prevailing City codes. Many buildings suffer from obsolescence. Both blocks are subject to deleterious land use or layout and lack of community planning. Both qualify as Conservation Areas within the meaning of the Act, separate and apart from being included in the existing Redevelopment Area of the Plan. V. REDEVELOPMENT PROGRAM A. General Land Uses The following changes are made in respect to General Land Uses set forth in V. A of the Plan. Map No. 2 General Land Uses Plan is replaced by a new General Land Uses Plan, Map No. lA and 1B together being described as "the 1983 Land Use Plan". - 3 '. The 1983 Land Use Plan is consistent with the provisions of the Comprehensive Plan of the City. Except as the 1983 Land Use Plan may be amended from time to time, it shall remain in effect until December 1, 2000. B. Program to Implement Redevelopment Plan Objectives 1. Redevelopment Project As adequate funds become available, the City will: a. Assemble land, remove structures and otherwise prepare real property for sale to private developers. Wherever possible, this activity shall be undertaken pending execution of redevelopment agreements. b. Assemble land, remove structures, and construct off-street parking lots, together with all acti- vity necessary to accomplish this project. c. Initiate public works improvements including street paving, curbs, sidewalks, landscaping, pedestrian circulation amenities, underground utilities, such as sewer and water, lighting, traffic control signals, improvements to Jones Park and facilities therein. In addition to various structural improvements to Jones Park, improvements may include aesthetic improvements such as sculptures, monuments and memorials. d. Establish a rehabilitation fund for rehabilita- tion of structures in the Redevelopment Area,. 4 Two Specific Projects relating to new public improvements are: (i) The eventual repair or replacement of all sidewalks in the Redevelopment Area. (ii) The construction of a street between White Court and Main Street just south of the proposed building indicated on the _ 1983 Land Use Plan, Maps lA and 1B. The sidewalks and curb area at the North end of Jones Park between North Main Street and North White Court will be modified to permit the movement of emergency vehicles between North Main Street and North White Court. A third project is optional and may proceed subject to availability of f financing. This project entails the purchase of right-of-way and construction of a new street along the location of existing White Court between Elm Street and Pine Street. This pro- ject also includes the connection of this proposed street to South Main Street by extending the alley and parking lot that now exists easterly from Main Street. This proposed Project is also indicated on the 1983 Land Use Plan, Map 2B. Public action to be taken in respect to all blocks in the Project Redevelopment_Area has been revised. In certain of the blocks of the Redevelopment Area, the City does not anticipate taking any immediate action. In other blocks, the City intends to initiate specific projects. In respect to all blocks, the City reserves the power it has under law to acquire real property and remove structures to achieve the objectives of the Plan, as amended by the 1983 Amend- ment. Without further amendment, the City may determine that to meet the objectives of the plan,~as amended by the 1983 amendment, _5 rC-c~ ~I:~LE•_"T.leS :::~~ P.O-~•: ::>C.'..~::CL'~f=~ Ur ai.:C',a_S~LlOn `-,'lOL'ZC :~L' .._.:Ul~~rt . _ - •i or that certain real property which may be acquired should not be acquired. Current proposed projects pertaining to the treatment of blocks within the Redevelopment Area are as follows: 1.- Block 19: The City does not have the intention of taking any further action to acquire real estate in this block. 2. Block 20: There is no further proposed project for Block 20, except that the City does propose that a new retail building be built to the south of the existing J.C. Penney building as shown on the 1983 Land Use Plan, Map 1B. If the consent of J.C. Penney is obtained, the proposed building may include certain real property leased to J.C. Penney. 3. -Block 21: The City does not have~the intention of taking any immediate action to acquire real estate in this block. In the future the City may acquire addi- tional property in the remainder of the block for parking or for redevelopment. 4. Block 30: The 1983 Land Use Plan, Map lB sho~~~s certain areas of this block as having existing public parking. The City may acquire additional property in the remaind- er of the block for parking purposes or for redevelopment. 5. Block 31: The City does not have the intention of taking any immediate action to acquire real estate in this block unless there is a need to make poss~bl_e private b development within said block. The City shall designate certain public property to be used as put~.7.ic right of way. The City shall not enter into any agreement with any property owner on the east side of North White Court, Block 31,~to permit any such owner or any person deriv- ing an interest from such owner, to construct a structure to the west of the East curb line of North White Court, Block 31, unless a majority of those owners owning real property fronting on North White Court, Block 31, consent in writing to the construction and the City Council makes a determination that the construction of any such struc- ture is in the public~~i~nterest. No such determination shall be made if the result of such determination would be to deny egress and ingress via North White Court to real property of any property owner in said block fronting on North White Court. 6. Block 32: The City has no-plans to acquire additional property in this block for redevelopment unless there is a need to make possible private development within said block. The City may acquire property in this block for additional parking or other public use. The City shall not enter into any agreement with any property owner on the west side of North Main Street, Block 32, to permit any such owner to any person deriving an interest from such owner, to construct a structure to the east of the West curb line of North Main Street, Block 32, unless, either, .. ~ fronting on North A:ain Street in said Block 32 consent in writing to the construction and the City Council also makes a determination that the construction of any such structure is in the public interest. No such determina- tion shall be made if the result would be to deny egress and ingress via North Main Street to the property of any property owner in said block; or, (b) an o~;ner of real property located in Block 32 fronting on North T1ain Street may erect a structure to the east of the West curb line of North Main Street if such property, as constructed would be substantially • contiguous on the south with real property presently located to the east of the West curb line of North Main Street. The City may enter into an agreement with any such real property owner permitting such real pro- perty owner or his successors and assigns to construct structures to the east of the West curb line of North Main Street, Block 32. 7. Block 37: The City does not have the intention of tak- ing any immediate action to acquire real estate in this block. 8 r,"~ ~` 8. Block 38: Portions of this block may be acquired for public rights of way and for private redevelopment. 9. Block 39: In this block, the City may acquire additional properties for redevelopment and public parking. Property currently used for public parking may be disposed of or otherwise utilized by the City for private development. 10. Block 40: The City does not have the intention of taking any immediate action to acquire real estate in this block. 11. Block 56: Existing parking is shown on the 1983 Land Use Plan, Map 1 B. The City does not intend to acquire any additional property in this block. 12. Block 57: The City does not intend to take any immediate action to acquire real estate in this block. In respect to the new blocks, Blocks 18 and 41, the City proposes: 1. Block 18: The City may acquire certain property in Block 18 for private redevelopment and public parking. 2. Block 41: The City may acquire certain property for private redevelopment. 2. Redevelopment Project Costs Cost estimates as to Redevelopment Project Costs set forth in the original Plan as to the total cost of the Project are no longer applicable. Current cost estimates are set forth in new Table 1 which is made a part of this 1983 Amendment. 9 ` ' 1 The Plan made certain assumptions as to then current values and costs. These assumptions as to values and costs are no longer applicable and all references to said assumptions are deleted. 3. Sources of Funds to Pay Redevelopment Project Costs It is the intention of the City of Canton to expend tax increment revenues to pay for redevelopment costs and obligations issued to pay for such costs. The City may also derive funds to pay for such costs from a number of other sources among which are State and Federal Grants, local Special Service Districts, Land Sale proceeds, General Revenue Sharing, Special assessments and Motor Fuel tax rebates. The Language of the Plan set forth in V, A.3 is deleted in its entirety as no longer being applicable. 4. Nature and Term of Obligations to be Issued Market conditions make it necessary to amend the Plan relative to the description of the nature and term of overall obligations as set forth in Article V, Section B, Paragraph 4. The language of this Paragraph is therefore deleted in its entirety and the following new language is substituted: Tax Increment Ohligations issued pursuant to this Amendment and the Act shall be for a term not to exceed 18 years. The interest rate shall conform to statutory limitations, if any. Any such obligations issued are to be covered after issuance by projected and actual tax increment revenues not less than the Annual nebt Service Requirement and by such Debt Service Reserves and Sinking Funds as may be provided by 'ordinance, 10 One or more issues of obligations may be sold at one or more times in order to implement this Amendment, and this Amendment as it may be amended. The municipality may, by ordinance, in addition to obligations secured by the special tax allocation fund, pledge for a period not greater than the term of the obligations towards payment of such obligations, any part or any combination of the following: (a) Net revenues of all or part of any redevelop- ment project; (b) Taxes levied and collected on any or all property in the municipality; (c) The full faith and credit of the municipality; (d) A mortgage on part or all of the redevelopment project; or (e) Any other taxes or anticipated receipts that the municipality may lawfully pledge. If such obligations are secured by the full faith and credit of the municipality, the ordinance authorizing the obligations may provide for the levy and collection of a direct annual tax upon all taxable property within the municipality in the City sufficient to pay the principal and interest on the obligations as they mature. Such levy may be in addition to and exclusive of the maximum of all other taxes authorized to be levied by the muni- cipality, which levy, however, shall be abated to the extent that monies from other sources are available f_or payment of the obligations and the municipality certifies the amount of said r.:~nies available to the County Clerk.. 11 C. Most Recent Equalized Assessed Valuation The Initial equalized value of real property in the Redevelop- ment Area described in the Plan was $2,473,977.00. The last current equalized assessed value of real property in the blocks to be added to the Redevelopment Area is estimated to be $227, 625.50. After homestead exemptions are deducted, the initial equalized value of real estate in these blocks minus said exemptions is approximately $227,625.00. The initial equalized value of the real property in Blocks 18 and 41, minus exemptions shall be added to the initial equalized assessed value of real property under the Plan as said value may be adjusted pursuant to amendment to the Act. The sum of the initial equalized value of real property as adjusted under the Plan and the initial equalized value of real property in Blocks 18 and 41 shall be utilized by the County Clerk for the purpose of determining the rates of the taxing districts that have reel property in the Redevelopment Area pursuant to Section 9 of the Act, as amended, and also shall be utilized for the p:.~.-~`~.e of making distribution to the taxing districts and the municipal tax increment special tax allocation fund pursuant to Section 8 of the Act, as amended. D. .nticipated Equalized Assessed Valuation: Overall Redevelopment Proiect Upon completion of anticipated private development, it is est~rnated that the equalized .assessed value of real pro~,~~~-ty 12 ,~ - ~ . within the Redevelopment Area encompassed by this Amendment will increase to approximately 55,500,000. E. Initial Phase of the Redevelopment Project The language of the Plan set forth in E, 1, 2, 3, 4, and 5 is hereby deleted. F. Completion of Redevelopment Project and Retirement of Obligations to Finance Redevelopment Costs The estimated date for the completion of the Redevelopment Project remains Decemher 1, 2000. The obligations incurred to finance redevelopment project costs are to be retired no later than December 1, 2000. 13 TABLE 1 '~ 1983 AMENDMENT TO THE Canton REDEVELOPMENT PLAN AND REDEVELOPMENT PROJECT A. Demolition 1. Scripps Building 2. White Court Buildings Total B. Acquisition 1. White Court Buildings 2. Scripps Building Total C. Street Construction 1. Chestnut Street 2. White Court Street Total D. Sidewalks, Alleyways & Imp. 1. Alleys into Walkways 2. Electric Lights 3. Utility Relocation Total E. Admin., Legal, Engineering and Contingency 1. zdministration, Legal & :,:;gineering ?. Contingency Total F. Uptown Project Total $ 20,000.00 20,000.00 $ 40,000.00 $205,000.00 0 $205,000.00 $ 63,320.00 115,900.00 $179,220.00 $ 30,000.00 50,000.00 50,000.00 $130,000.00 $ 18,358.00 55,422.00 $ 73,780.00 $628,000.00 In the event the City issues obligations under the Act or pursuant to its home rule powers, the proceeds of which are used to pay redevelopment project costs: (1) In any year during which said obligations are outstanding and funds in the tax increment fLnd are insufficient to pay principal and interest when due, the City shall make payment in accordance with the terms of the obligations and any such payments made by the City may be deemed by the City to be an interest free loan to the tax increment fund to pay redevelopment costs, to be repaid from the tax increment fund from subsequent available tax increment revenues from improved taxable lots, blocks, tracts or parcels of real property prior to the creation of any surplus funds. (2) In any year during which said obligations are outstanding and funds in the tax increment fund are sufficient to pay the next due principal and interest, but it is anticipated that in subsequent years funds in the fund may be inadequate to mare the current payments of principal and interest, then the City may create such reserves from the funds as it may deem appropriate to enable it to make future payments of principal and interest under said obligations. Amounts in any such reserve shall not be deemed to be surplus funds. Real estate tax increment revenues which constitute funds in the special tax increment fund for the purpose of this paragraph include only tax increment revenues from improved taxable lots, blocks, tracts or parcels of real property. LEGAL DESCRIPTION 1983 AMENDMENT TO THE CANTON REDEVELOPMENT PLAN AND REDEVELOPMENT PROJECT The City of Canton proposes that the redevelopment project area encompass the following area within the corporate limits of the City, particularly described to wit: Commencing at a point of intersection of the southerly right-of- way line of East Locust Street and the easterly right-of-way line of North Second Avenue: Thence in a southerly direction along said easterly right-of-way line and extension thereof to its intersection with the southerly right-of-way line of East Pine Street; Thence in a westerly direction along said southerly right-of-way line and extension thereof to its intersection with the easterly right-of-way line of South White Court; Thence in a southerly direction along said easterly right-of-way line and extensions thereof to its intersection with the southerly right-of-way line of East Walnut Street; Thence in a westerly direction along the southerly right-of-way line of East and West Walnut Street and extensions thereof to a point 181.5 feet, more or less west of the westerly right-of-way line of South Main Street; Thence in a northerly direction along a line parallel to and 181.5 feet more or less west of the westerly right-of-way line of South ?gain Street to its intersection with the southerly right-of-way line of t•,est Pine Street; Thence in a westerly direction along said southerly right-of-way line to its intersection with the extended westerly right-of-way 1 ine of South Avenue "A" ; it~ence in a northerly direction along said westerly right-of-way line and extensions thereof tc its intersection with the southerly right-of-way line of West Locust Street; Thence in an easterly direction along the southerly right-of-way line of West and East Locust Street and extensions thereof to its intersection with the easterly right-of-way line of North Second Street, the Point of beginning. Zn terms of a Project Area Description based on land platted to date, the following would properly reflect the area: ~.ric_ ir,al Towri - Swans First Recorded P.ddition: ~ arcels 93 throuch .100 and 105, 106, .107,108 ~...._=__1 .:~. 1 • ..• l Swans Second Addition: Parcels 109, 110, 111, 120, 124 and 125 Nathan Jones First Addition: Parcels 1 through 11 and 14 through 22 Nathan Jones Second Addition: Parcels 31 through 60 Nathan Jones Third Addition: Parcels 1 through 5 and 7 through 10 Plus all Public Rights-of-Way including streets, alleys and that area commonly known as Jones Park lying between the easterly right- of-way line of North and South Second Avenue and the westerly right- of-way line of North and South Avenue "A"; the southerly right-of- way line of East and West Locust Street and the southerly right-of- way line of East and West Pine Street; and the entire right-of-way of South Main Street and South White Court between East and West Pine Street and East and West Walnut Street; and the entire right- of-way of East and West Walnut Street between a point 181.5 feet more or less west of the westerly right-of-way line of South Main Street and the easterly right-of-way line of South White Court. . T• , C E R T I F I C A T E STATE OF ILLINOIS,. ) SS, COUNTY OF FULTON ) I, Nancy Whites, City Clerk of the City of Canton, in the County of Fulton and State of Illinois, do hereby certify that as the City Clerk of the City of Canton, I am the keeper of records, minutes, ordinances and other books, records and papers of said City, and that the foregoing is a true and correct copy of: ORDINANCE # 999 An Ordinance Approving the 1983 Amendment to the Tax Increment Redevelopment Plan and Redevelopment Project of the City of Canton, Illinois approved by Ordinance No. 621 o.n December 27, 1977. adopted by the City Council of said City and approved by the Mayor thereof on the 16th day of January 1984 WITNESS my hand and the Corporate Seal of the City of Canton, Illinois this 9th day of February 1984 , ncy W es City C erk, (_S E A L)