Title
An Ordinance Amending the Downtown Tax Increment Finance District Redevelopment Plan and Project
("Downtown Second Amendment")
Body
WHEREAS, on or about the 10th day of January, 2005, the Village of Romeoville (the "Village") adopted Ordinance Number 05-0241 approving a Tax Increment Redevelopment Plan and Project for the Downtown Tax Increment Finance District Redevelopment Project Area (the "Downtown TIF District" or "Downtown TIF"); and
WHEREAS, by Ordinance Number 06-0423 adopted on the 5th day of July, the Village amended the Redevelopment Plan and Project for the Downtown TIF (the "First Amendment"); and
WHEREAS, it is now necessary and in the best interest of the Downtown TIF, the Village and its citizens to again amend the Redevelopment Plan and Project; and
WHEREAS, the proposed Second Amendment to the Redevelopment Plan and Project is set forth in Exhibit A attached hereto (the "Second Amendment to the Redevelopment Plan and Project"); and
WHEREAS, the area described in Exhibit B attached hereto was previously designated as the Downtown TIF by Ordinance Number 05-0240 of the Village; and
WHEREAS, the general street locations of the Downtown TIF are as set forth in Exhibit C attached hereto; and
WHEREAS, pursuant to the Tax Increment Allocation Redevelopment Act of the State of Illinois (65ILCS 5/11-74.4-1 et seq) (the "TIF ACT") the Village by Resolution Number 19-2767, called for a public hearing and Joint Review Board meeting regarding the proposed Second Amendment to the Downtown TIF Redevelopment Plan and Project (the "Public Hearing"); and
WHEREAS, pursuant to said Resolution 19-2767, a meeting of the Downtown TIF Joint Review Board was convened and, further, that the Joint Review Board on the 12th day of September, 2019, rendered its recommendation to the Village which recommendation was that the Village approve the Second Amendment; and
WHEREAS, the Second Amendment was on file with the Village for at least 10 days prior to adoption o...
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