Title
A RESOLUTION WITH RESPECT TO A PROPOSED TAX INCREMENT FINANCE DISTRICT ESTABLISHING THE DATES FOR A PUBLIC HEARING AND JOINT REVIEW BOARD, CREATING AN INTERESTED PARTIES REGISTRY AND OTHER MATTERS IN THE VILLAGE OF ROMEOVILLE
("SOUTH LOWER TIF")
Body
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, 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", depicted on Exhibit B and legally described on Exhibit C attached hereto (the "Redevelopment Project Area") be redeveloped; and
WHEREAS, the Redevelopment Project area is sometimes referred to as the "South Lower TIF"; and
WHEREAS, the Redevelopment Project 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, the TIF Act authorizes such assistance; and
WHEREAS, the contemplated redevelopment of the Redevelopment Project Area includes, but is not limited to, improvements such as design and installation of various public improvements; construction, repair and upgrade of public streets, utility and stormwater management infrastructure; development of new industrial and commercial facilities; office; rehabilitation and remodeling of properties; rehabilitation of existing properties, infill development assistance, property acquisition and generally other improvements and assistance as contemplated by the TIF Act (the "Project"); and
WHEREAS, the activities in the Redevelopment Project Area are not reasonably expected to result in the displacement of residents from ten (10) or...
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