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AN ORDINANCE OF THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS AMENDING ORDINANCE NO. 18-1515 AND EXPANDING THE ADOPTION OF TAX INCREMENT ALLOCATION FINANCING FOR THE "NORMANTOWN/WEBER ROAD" TAX INCREMENT FINANCE DISTRICT
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WHEREAS, the Village of Romeoville, Illinois (the "Village"), by Ordinance No. 18-1515 has previously adopted tax increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq.) as amended (the "Act") for the area known as the Normantown/Weber Road TIF District; and
WHEREAS, the Village has heretofore approved an amendment to the Redevelopment Plan and Project (the "Plan" and "Project") with respect to as required by the Act by passage of an ordinance and has heretofore designated the Normantown/Weber Road TIF, as amended, as required by the Act by the passage of an ordinance and has otherwise complied with all other conditions precedent required by the Act; and
WHEREAS, it is in the best interest of the Village to adopt Tax Increment Financing for the expanded boundaries of the Normantown/Weber Roard TIF District.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the Village of Romeoville, Will County, Illinois in the exercise of its home rule, statutory and other powers, as follows:
Section 1. Tax Increment Financing Adopted
Ordinance No. 18-1515 adopting Tax Increment Financing for the Normantown/Weber Road TIF be and is hereby amended to include the area generally described on Exhibit A attached hereto. The Normantown/Weber Road Tax Increment Finance District as now constituted in generally described on Exhibit B attached hereto, legally described on Exhibit C attached hereto and depicted on Exhibit D attached hereto, hereafter sometimes referred to as the "Expanded Normantown/Weber Road TIF.
Section 2. Allocation of Ad Valorem Taxes
Pursuant to the Act, the ad valorem taxes, if any, arising from the ...
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