Title
An Ordinance Supplementing and Affirming Ordinance No. 05-0240 Designating the Downtown Redevelopment Project Area a Redevelopment Project Area Pursuant To the Tax Increment Allocation Redevelopment Project Act
Body
WHEREAS, on the 10th day of January, 2005, the Village of Romeoville (the "Village") adopted Ordinance No. 05-0240 designating a Redevelopment Project Area Act (the "Redevelopment Project Area") pursuant to the Illinois Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq.) (the "TIF ACT"); and
WHEREAS, the Redevelopment Project Area is known as the "Downtown TIF"; and
WHEREAS, after giving all required notices, conducting a public hearing, convening a Joint Review Board Meeting and otherwise following all of the requirements of the TIF Act the Village has determined that it is in its best interest to amend the Redevelopment Plan and Project with regard to the Redevelopment Project Area; and
WHEREAS, by Ordinance No. 06-0423 the Village approved the First Amendment of the Redevelopment Plan and Project (the "First Amendment"); and
WHEREAS, by Ordinance No. 19-1598 the Village again amended the Redevelopment Plan and Project to, among other things, extend the time for completion of redevelopment projects, thereby extending the terms of the Designation of the Redevelopment Project Area for a period of twelve (12) years as authorized by Public Act No. 101-0274.
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 Affirmation and Extension
It is recognized that the Redevelopment Plan, the First Amendment and the Second Amendment have been approved. The designation of the Area, as described in Exhibit "A" attached hereto and incorporated herein as if set out in full by this reference as a Redevelopment Project Area, pursuant to Section 11-74.4-4 of the Act, and Ordinance No. 0...
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