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A Resolution with Respect to the Proposed Amendment of the Normantown/Weber Road Tax Increment Finance District, Establishing the Dates for a Public Hearing and Joint Review Board and Other Matters in the Village of Romeoville ("Normantown/Weber Road TIF")
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WHEREAS, the Village of Romeoville is a duly organized home rule municipality under
and by virtue of the Constitution and Statutes of the State of Illinois (the "Village"); and
WHEREAS, the Village is authorized to take various actions with respect to redevelopment of property within its borders; and
WHEREAS, the Village has previously designated the Normantown/Weber Road Tax Increment Finance District, approved a Redevelopment Plan and Project and Adopted Tax Increment Allocation Financing for the Normantown/Weber Road TIF all pursuant to the Tax Increment Allocation Redevelopment Act (65 ILCS 5, 11-74.4-1 et. seq.) (the "TIF Act"); and
WHEREAS, it is hereby found, determined and declared by the President and Board of Trustees that it is in the best interest of the Village that the property generally described on Exhibit "A", and depicted on Exhibit B (the "Expansion Area ") be added to Normantown/Weber Road TIF; and
WHEREAS, the Normantown/Weber Road TIF as expanded is described on Exhibit C attached hereto and depicted on Exhibit D attached hereto; and
WHEREAS, the Expansion Area has not been subject to growth and development through investment of purely private funds and it is not reasonably anticipated to be redeveloped without certain public assistance; and
WHEREAS, certain public assistance will be required to redevelop the Redevelopment Project Area and the Expansion Area given its current condition; and
WHEREAS, the TIF Act authorizes such assistance; and
WHEREAS, the contemplated redevelopment of the Redevelopment Project Area including the Expansion Area includes, but is not limited to, improvements such as design and installation of various public improvements; c...
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