HomeMy WebLinkAboutOrdinance # 1825- J
ORDINANCE NO. 1825
AN ORDINANCE DISSOLVING CITY OF CANTON TAX INCREMENT DISTRICT 4B
WHEREAS, on December 31 , ~ g 87 ,the City Council adopted and the Mayor
approved Ordinance No. 1179 (the "Designating Ordinance") which designated as a
redevelopment project area the property described at "Exhibit A" attached hereto and
incorporated herein by reference (which redevelopment project area as so described is
hereinafter referred to as "TIF 4B"); and
WHEREAS, on December 31 , ~g 87, the City Council adopted Ordinance No.
1180 which implemented tax increment financing within TIF 4B; and
WHEREAS, subsequent to the designation of TIF 4B, the City incurred various
redevelopment project costs for the purpose of implementing a redevelopment plan and
project (the "Redevelopment Plan and Project") approved by the City Council for the
purpose of eliminating blighting conditions which existed within the boundaries of TIF 4B at
the time of its designation; and
WHEREAS, all redevelopment project costs incurred in conjunction with the
implementation of the Redevelopment Plan and Project have been paid in full; and
WHEREAS, it is necessary and appropriate that TIF 46 be dissolved and that the
incremental assessed value of property within TIF 46 become available to support the
operations of those taxing districts which include TIF 4B within their respective boundaries;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CANTON, FULTON COUNTY, ILLINOIS, THAT:
Section 1. TIF 46 is hereby dissolved effective on 3 " ~ -U5 .From and after
the dissolution of TIF 46, tax increment financing shall no longer be applicable to TIF 4B.
With respect to real estate taxes levied for the year 2004 (payable in the year 2005) and for
each year thereafter, the County Clerk shall extend the property taxes levied by the various
taxing districts which include TIF 4B within their boundaries against the equalized assessed
value of parcels located within TIF 46 as if TIF 4B had never been designated as a
redevelopment project area.
Section 2. Upon the effective date of this ordinance, the City Clerk is hereby
directed to immediately file a certified copy of this ordinance with the Fulton County Clerk.
Section 3. This Ordinance is in addition to all other Ordinances on the subject and
shall be construed therewith, excepting as to that part in direct conflict with any other
Ordinance, and in the event of such conflict, the provisions hereof shall govern.
Section 4. This Ordinance shall be in full force and effect from and after ~ '~ ~~~
and upon its passage and approval in the manner provided by law.
PASSED BY THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY,
ILLINOIS, IN REGULAR AND PUBLIC SESSION THIS i Gt DAY OF Marrh ,
2005.
APPROVED:
Mayor
ATTEST:
,~
ity Clerk
EXAMINED AND APPROVED:
VU~.i~
Corporation Counsel
EXHIBIT A
[INSERT LEGAL DESCRIPTION OF TIF 4B)
i
K
AREA 4-B
LEGAL DESCRIPTION
The South 66' of Lot ~1 and Lots 2, 3, 4, 5, 6, 7, 8, 9, 10, 11,
12, 13, 14, the South 32} feet of Lot #15, Lots 26, 27, 28, 29,
30, 36 and 37, Outlot 18, Lots 38, 39, 40, 41, 42 and 43, Lots 44,
57, 58, 61, 154, 155, 156, and 157, all in BARNES AND JONES
ADDITION to the City of Canton, situated in the County of Fulton
and State of Illinois.
Blocks 1, 2, 3 and 4 in PARLIN AND ORENDORFF CO. SUBDIVISION
of part of Barnes and Jones Addition to the City of Canton,
situated in the County of Fulton and State of Illinois.
Lots 1, 2, 3, 4, 5, 12, 13, 14, 15, 16,.17, 18, 19, 20, 21,
28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 44, 45, 46, 47, 48, 49, 50,
51, 52, 53, 66, 67, 68, 69, 70, 71, 72, 73, 88, 89,.90, 91, 92, 93,
94, 95, 96, 109, 110, 111, 112, 113, 114, 115, 116, 117, 118, 132,
133, 134, 135, 136, 137, 138, 139, 140, 141, 156, 157, 158, 159,
160, 161, 162, 163, 164, 165, N 40' of Lot 166, 167, 168, 169, 170,
171, 178, 183, 184, 185, 186, 191, 201, 206, 207, 208, 209, 232,
233, 234, and 235 in WRIGHT'S ADDITION to the City of Canton,
situated in the County of Fulton and State of Illinois.
Lots 74 and 75 in NATHAN JONES SECOND ADDITION to the City of
Canton, situated in the County of Fulton and State of Illinois.
Blocks 5 and 6 in PARLIN AND ORENDORFF CO. SECOND SUBDIVISION
of part of Barnes and Jones Addition to the City of Canton,
situated in the County of Fulton and State of Illinois.
The North Half of vacated East Walnut Street from the East
line of South Second Avenue to the West line of South Fourth Avenue
in the City of Canton.
The South Half of vacated East Walnut Street from the East
line of South Second Avenue to the West line of the Burlington
Northern (formerly C.B. & Q) Railroad right of way in the City of
Canton.
The vacated alley lying West
51 and East of Lots 4, I3, 20, 29,
ADDITION to the City of Canton.
of Lots 3, 14, 19, 30, 35, 46 and
36, 45 and 52 in WRIGHT'S
Vacated South Third Avenue lying South of East Walnut Street
and North of East Maple Street in the City of Canton.
The vacated alley lying West
49 and East of Lots 2, 15, 18, 31,
ADDITION to the City of Canton.
of Lots 1, 16, 17, 32, 33, 48 and
34, 47 and 50 in WRIGHT'S
Vacated Maple Street from the center line of the main track of
the Burlington Northern (formerly C.B. & Q) Railroad West to a line
extended from the Southwest corner of Lot 51 to the Northwest
corner~of Lot 67 in WRIGHT'S ADDITION to the City of Canton.
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' ~ The vacated North 18 feet of East Maple Street from the East
K line of Second Avenue to the Southwest corner of Lot 51 in WRIGHT'S
ADDITION to the City of Canton. -
Vacated Fourth Avenue from the South line of East Elm Street
to the centerline of East Walnut Street and being 8.5 feet West of
the Center line of the main track of the Burlington Northern
(formerly C.B. & Q) Railroad in the City of Canton.
The vacated alley lying East of Lots 68, 71, 90, 93, 112, 115,
135 and 138 and West of Lots 69, 70, 91, 92, 113, 114, 136 and 137
in WRIGHT'S ADDITION to the City of Canton.
The vacated East 17 feet of North Second Avenue from the South
line of East Elm Street to the South line of East Pine Street in
the City of Canton.
Vacated South Third Avenue from the South line of East Maple
Street to the North line of Railroad Street in the City of Canton.
All situated in the City of Canton, Fulton County, Illinois.
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