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TO: Mayor Richard C. Irvin
FROM: Martin S. Lyons, Chief Financial Officer/City Treasurer
DATE: November 20, 2018
SUBJECT:
An Ordinance Calling for a Public Hearing and Joint Review Board Meeting to consider the designation of a Redevelopment Project Area and the Approval of a Redevelopment Plan and Project for the City of Aurora, (Downtown Tax Increment Financing District 9
(Stolp Avenue - Downtown Area).
PURPOSE:
This Ordinance sets the Public Hearing date and Joint Review Board meeting date for the establishment of TIF 9 in keeping with the Paramount/ACCA development agreement.
BACKGROUND:
As a part of the Paramount/ACCA development project the City approved the creation of Tax Increment Finance (TIF) District in the downtown covering the area bordered by Galena Blvd, Stolp Ave., Downer Place, and the Fox River. This TIF will move forward for adoption according to the attached schedule in 2019.
DISCUSSION:
The creation of TIF 9 was an integral part of the Paramount/ACCA development project and was detailed in the attached development agreement between the City and the Aurora Arts Center Developer LLC.
IMPACT STATEMENT:
N/A.
RECOMMENDATIONS:
That the City Council approve this ordinance.
CITY OF AURORA, ILLINOIS
ORDINANCE NO. _________
DATE OF PASSAGE ________________
title
An Ordinance Calling for a Public Hearing and Joint Review Board Meeting to consider the designation of a Redevelopment Project Area and the Approval of a Redevelopment Plan and Project for the City of Aurora, (Downtown Tax Increment Financing District 9
(Stolp Avenue - Downtown Area).
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, the City of Aurora (“City”) is considering the designation of a redevelopment project area and the approval of a redevelopment plan and project within the corporate limits of the City, to be called the Downtown Tax Increment Financing District 9 (Stolp Avenue - Downtown Area) (“Downtown TIF District 9 (Stolp Avenue - Downtown Area)”), pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (“TIF Act”), conditioned upon the removal of certain properties from the City’s Downtown TIF District 1; and
WHEREAS, on April 25, 2017, the City Council of the City approved a motion authorizing Kane, McKenna & Associates, Inc. to prepare an eligibility study and report, and a redevelopment plan and project relative to the Downtown TIF District 9 (Stolp Avenue - Downtown Area); and
WHEREAS, on October 22, 2018, the City published the Tax Increment Financing (TIF) Interested Parties Registry Notice, as required by Section 11-74.4-5(a) of the TIF Act, in the Daily Herald; and
WHEREAS, on October 23, 2018, the City announced the availability of the redevelopment plan and project for the proposed Downtown Tax Increment Financing District 9 (Stolp Avenue - Downtown Area) (“TIF Plan”), with said TIF Plan containing an eligibility report for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area) (“Eligibility Report”) addressing the tax increment financing eligibility of the area proposed for the redevelopment project area (“Redevelopment Project Area”), with said Redevelopment Project Area being legally described on Exhibit A attached hereto and made part hereof, and with the findings of the TIF Plan and Eligibility Report being conditioned upon the removal of certain properties from Downtown TIF District 1; and
WHEREAS, pursuant to the provisions of Section 11-74.4-5(c) of the TIF Act, prior to the adoption of the ordinance designating the Redevelopment Project Area and approving the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area), the City must fix a time and place for a public hearing; and
WHEREAS, pursuant to the provisions of Section 5/11-74.4-5(b) of the TIF Act, prior to the adoption of the ordinance designating the Redevelopment Project Area and approving the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area), the City must convene a meeting of the Joint Review Board (“JRB”) to consider the proposal; and
WHEREAS, it is the desire of the City Council of the City to conduct such public hearing and to convene said meeting of the JRB;
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NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Aurora, Illinois, as follows:
SECTION 1: That, pursuant to the provisions of the TIF Act, the City Council hereby designates the date of Tuesday, February 12, 2019, at 6:00 p.m. at the Aurora City Hall, Council Chambers, 44 East Downer Place, Aurora, Illinois 60507, for the purpose of conducting a public hearing to hear from any interested persons, taxpayers or affected taxing districts regarding the Redevelopment Project Area and the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area).
SECTION 2: That copies of the Eligibility Report and the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area) have been on file in the office of the City Clerk, and have been available for public inspection during regular City business hours, since October 22, 2018.
SECTION 3: That at the public hearing, any interested person, taxpayer or affected taxing district may file with the City Clerk written comments and/or objections to, and may be heard orally with respect to, any issues embodied in the notice of public hearing attached hereto.
SECTION 4: That the JRB for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area) shall meet on Monday, December 17, 2018, at 10:00 a.m. at City Hall, 44 East Downer Place, 5th Floor, Conference Room 5B, Aurora, Illinois 60507. The JRB shall review the public record, planning documents, Eligibility Report, Redevelopment Project Area and the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area). The JRB shall make an advisory recommendation to the City within thirty (30) days after the convening of the JRB. A written report shall be issued by the JRB. The failure of the JRB to submit its report on a timely basis shall not be cause to delay the public hearing or any other step in the process of designating the Redevelopment Project Area and approving the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area). In the event the JRB does not file a report, it shall be presumed that the JRB has approved the matters before it. Pursuant to the provisions of Section 11-74.4-5(b) of the TIF Act, the JRB shall consist of one (1) public member and one (1) representative from each of the following taxing districts: Kane County, Waubonsee Community College No. 516, Aurora Township, Fox Valley Park District, East Aurora School District No. 131, and the City of Aurora.
SECTION 5: That the City of Aurora's representative on the JRB is hereby confirmed as the City’s Chief Financial Officer, Martin Lyons, or her/his designee.
SECTION 6: That a notice setting forth the availability of the Eligibility Report and the TIF Plan for the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area), and how to obtain a copy thereof, shall be sent by mail to all residential addresses within seven hundred fifty (750) feet of the boundaries of the proposed Downtown TIF District 9 (Stolp Avenue - Downtown Area) and to all persons who have registered on the City’s TIF Interested Parties Registry, within a reasonable time after the adoption of this Ordinance, as required by Section 11-74.4-5(a) of the TIF Act, with said notice being substantially in the form attached hereto as Exhibit B and made part hereof.
SECTION 7: That a notice of the public hearing and the JRB meeting shall be sent by certified mail, return receipt requested, and a notice of the public hearing shall be given by publication, certified mail, return receipt requested, and by first class U.S. Mail, all as required by Sections 11-74.4-5(b) and 11-74.4-6(a), (b) and (c) of the TIF Act, with said notices being substantially in the form attached hereto as Exhibit C and made part hereof.
SECTION 8: That this Ordinance shall be in full force and effect from and after its adoption and approval as provided by law