2023-08-21 - Ordinance 2023-109 - ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE FOR THE 2023 BUFFALO GROVE DUNDEE ROAD REDEVELOPMENT PROJECT AREA ORDINANCE NO. 2023-109
AN ORDINANCE OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS,
ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE FOR THE 2023 BUFFALO GROVE
DUNDEE ROAD REDEVELOPMENT PROJECT AREA
WHEREAS, it is desirable and for the best interests of the citizens of Buffalo Grove, Cook and
Lake Counties, Illinois ("Buffalo Grove") for Buffalo Grove to adopt tax increment allocation financing
pursuant to the Tax Increment Allocation Redevelopment Act, Division 74.4 of Article 11 of the Illinois
Municipal Code, as amended ("Act"); and
WHEREAS, Buffalo Grove has heretofore approved a redevelopment plan and project (Plan and
Project) as required by the Act by passage of an ordinance and has heretofore designated a
redevelopment project area (Area) as required by the Act by the passage of an ordinance and has
otherwise complied with all other conditions precedent required by the Act.
NOW THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF
BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS,AS FOLLOWS:
Section 1. Tax Increment Financing Adopted. Tax increment allocation financing is hereby adopted to
pay redevelopment project costs as defined in the Act and as set forth in the Plan and Project within the
Area as described in Exhibit A attached hereto and incorporated herein as if set out in full by this
reference. The street location (as near as practicable) for the Area and the Area are described and
depicted in Exhibit A attached hereto and incorporated herein as if set out in full by this reference.
Section 2. Allocation of Ad Valorem Taxes. Pursuant to the Act, the ad valorem taxes, if any, arising
from the levies upon taxable real property in the Area by taxing districts and tax rates determined in the
manner provided in Section 11-74.4-9 (c) of the Act each year after the effective date of this ordinance
until the Project costs and obligation issued in respect thereto have been paid shali be divided as foilow:
a. That portion of taxes levied upon each taxable lot, block, tract, or parcel of real property that is
attributable to the lower of the current equalized assessed value of the initial equalized
assessed value of each such taxable lot, block, tract or parcel of real property in the Area shall
be allocated to and when collected shall be paid by the county collector to the respective
affected taxing districts in the manner required by law in the absence of the adoption of tax
increment allocation financing.
b. That portion, if any, of such taxes that is attributable to the increase in the current equalized
assessed valuation of each lot, block, tract or parcel of real property in the Area over and above
the initial equalizes assessed value of each property in the Area shall be allocated to and when
collected shall be paid to the municipal treasurer, who shall deposit said taxes into a special
fund, hereby created, and designated the "2023 Buffalo Grove Dundee Road Redevelopment
Project Area Special Tax Allocation Fund" of Buffalo Grove and such taxes shall be used for the
purpose of paying Project costs and obligation incurred in the payment thereof.
Section 3. Invalidity of Any Section. If any section, paragraph, or provision of this ordinance shall be
held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section,
paragraph, or provisions shall not affect any of the remaining provisions of this ordinance.
Section 4. Superseder and Effective Date. All ordinances, resolutions, motions or orders in conflict
herewith shall be and the same hereby are, repealed to the extent of such conflict, and this ordinance
shall be in full force and effect immediately upon its passage by the Corporate Authorities and approval
as provided by law.
AYES: 6—Johnson,Cesario,Ottenheimer,Stein, Pike,Weidenfeld
NAYES: 0- None
ABSENT: 0- None
PASSED: Au�ust 21, 2023
APPROVED: Au�ust 21, 2023
PUBLISHED: Au�ust 22, 2023
ATTEST: APPROVED:
��
`i �
� •�
�'���'` _ ��t-�-�-�„�n= L .� �
Janet It�YSirabian, Village Clerk Eric N. Smith, ' lage President
` ° .' ' ,1 -�=
: .
� o;r-- :��
_� � ,,,_.,..�- , i,
-?-_ .-,— _' -
i � .� �..`:.-iJ' �
� `\�
� •'
1 .i
Exhibit A
THE 2023 BUFFALO GROVE DUNDEE ROAD
REDEVELOPMENT PROJECT AREA
COOK COUNTY
THAT PART OF SECTION 5, 6, 7 AND 8, TOWNSHIP 42 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL
MERIDIAN, IN COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF
THE NORTH LINE OF DUNDEE ROAD AND THE WEST LINE OF THE EAST HALF OF THE SOUTHEAST
QUARTER OF SAID SECTION 6; THENCE EAST ALONG SAID NORTH LINE OF DUNDEE ROAD TO THE WEST
LINE OF THE EAST 22 ACRES OF THE SOUTH 60 ACRES OF THE SOUTH HALF OF THE SOUTHEAST
QUARTER OF SAID SECTION 6; THENCE SOUTH ALONG LAST SAID WEST LINE TO THE NORTH LINE OF
SAID DUNDEE ROAD; THENCE EAST ALONG SAID NORTH LINE OF DUNDEE ROAD TO THE EAST LINE OF
THE WEST 200.0 FEET OF THE EAST 22 ACRES OF THE SOUTH 60 ACRES OF THE SOUTH HALF OF THE
SOUTHEAST QUARTER OF SAID SECTION 6; THENCE NORTH ALONG LAST SAID EAST LINE TO THE SOUTH
LINE OF THE NORTH 470.0 FEET OF THE EAST 22 ACRES OF THE SOUTH 60 ACRES OF THE SOUTH HALF
OF THE SOUTHEAST QUARTER OF SAID SECTION 6; THENCE EAST ALONG LAST SAID SOUTH LINE TO THE
WEST LINE OF ARLINGTON HEIGHTS ROAD SAID POINT ALSO BEING THE SOUTHEAST CORNER OF LOT 2
IN STRATHMORE WEST SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT
20142938 IN COOK COUNTY, ILLINOIS; THENCE NORTH ALONG THE WEST LINE OF ARLINGTON HEIGHTS
ROAD TO THE WESTERLY EXTENSION OF THE SOUTH LINE OF ARLINGTON HILLS IN BUFFALO GROVE
SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 19834936 IN COOK
COUNTY, ILL�NOIS; THENCE EAST ALONG LAST SAID SOUTH LINE OF ARLINGTON HILLS IN BUFFALO
GROVE TO THE EAST LINE OF THE WEST HALF OF THE SOUTHWEST QUARTER OF SAID SECTION 5;
THENCE SOUTH ALONG LAST SAID EAST LINE OF THE WEST HALF OF THE SOUTHWEST QUARTER TO THE
SOUTHWEST CORNER OF CHATHAM SUBDIVISION UNIT NO. 4, ACCORDING TO THE PLAT THEREOF
RECORDED AS DOCUMENT 85262907 IN COOK COUNTY, ILLINOIS; THENCE EAST ALONG THE SOUTH
LINE OF LAST SAID CHATHAM SUBDIVISION UNIT NO. 4 TO THE WESTERN MOST CORNER OF
DELACOURTE SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 98513157 IN
COOK COUNTY, ILLINOIS; THENCE EAST ALONG A SOUTH LINE OF SAID DELACOURTE SUBDIVISION TO A
BEND IN THE WEST LINE OF SAID DELACOURTE SUBDIVISION; THENCE SOUTH ALONG THE WEST LINE OF
SAID DELACOURTE SUBDIVISION TO THE SOUTHWEST CORNER OF SAID DELACOURTE SUBDIVISION
BEING ALSO THE NORTH LINE OF DUNDEE ROAD; THENCE EAST ALONG THE NORTH LINE OF DUNDEE
ROAD TO THE NORTHERLY EXTENSION OF THE WEST LINE OF MILL CREEK UNIT ONE SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 20937795 IN COOK COUNTY, ILLINOIS;
THENCE SOUTH ALONG SAID WEST 28 LINE OF MILL CREEK UNIT ONE SUBDIVISION TO THE SOUTH LINE
OF GRAND SPAULDING DODGE SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED AS
DOCUMENT 23752075 IN COOK COUNTY, ILLINOIS; THENCE WEST ALONG THE SOUTH LINE OF SAID
GRAND SPAULDING DODGE SUBDIVISION AND ALSO THE SOUTH LINE OF GRAND SPAULDING DODGE
RESUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 25344703, IN COOK
COUNTY, ILLINOIS AND ALSO THE SOUTH LINE OF CRYSLER REALTY SUBDIVISION ACCORDING TO THE
PLAT THEREOF RECORDED AS DOCUMENT 88224282, IN COOK COUNTY, ILLINOIS TO THE WEST LINE OF
OLD ARLINGTON HEIGHTS ROAD, BEING ALSO THE EAST LINE OF FREEDOM SMALL FARMS SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 12703394, IN COOK COUNTY, ILLINOIS;
THENCE NORTH ALONG LAST SAID WEST LINE OF OLD ARLINGTON HEIGHTS ROAD TO THE SOUTH LINE
OF DUNDEE ROAD; THENCE WEST ALONG THE SOUTH LINE OF DUNDEE ROAD TO THE NORTHEAST
CORNER OF LOT 7 IN FREEDOM SMALL FARMS SUBDIVISION ACCORDING TO THE PLAT THEREOF
RECORDED AS DOCUMENT 12703394, IN COOK COUNTY, ILLINOIS; THENCE SOUTH ALONG THE EAST
LINE OF SAID LOT 7 TO THE SOUTHEAST CORNER OF LOT 7 IN SAID FREEDOM SMALL FARMS
SUBDIVISION; THENCE WEST TO THE SOUTHWEST CORNER OF SAID LOT 7 IN FREEDOM SMALL FARMS
SUBDIVISION; THENCE NORTH ALONG THE WEST LINE OF SAID LOT 7 IN FREEDOM SMALL FARMS
SUBDIVISION TO THE SOUTH LINE OF DUNDEE ROAD; THENCE WEST ALONG THE SOUTH LINE OF
DUNDEE ROAD TO THE CENTERLINE OF ARLINGTON HEIGHTS ROAD; THENCE SOUTH ALONG THE
CENTERLINE OF ARLINGTON HEIGHTS ROAD TO THE EASTERLY EXTENSION OF THE SOUTH LINE OF
BARBARA RESUBDIVISION BEING A RESUBDIVISION OF PART OF LOT 2 IN PLAZA VERDE UNIT ONE
SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 00818536, IN COOK
COUNTY, ILLINOIS; THENCE WEST ALONG THE SOUTH LINE OF PLAZA VERDE UNIT ONE SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT 23237770, IN COOK COUNTY, ILLIN015
TO THE WEST LINE OF THE EAST HALF OF THE NORTHEAST QUARTER OF SAID SECTION 7; THENCE
NORTH ALONG THE WEST LINE OF THE EAST HALF OF THE NORTHEAST QUARTER OF SAID SECTION 7 TO
THE CENTERLINE OF DUNDEE ROAD BEING AT THE NORTHWEST CORNER OF THE EAST HALF OF THE
NORTHEAST QUARTER OF SAID SECTION 7; THENCE NORTH ALONG THE WEST LINE OF THE EAST HALF
OF THE SOUTHEAST QUARTER OF SAID SECTION 6 TO THE POINT OF BEGINNING, IN COOK COUNTY,
ILLINOIS.
COMMON BOUNDARY DESCRIPTfON
Generally described as follows: The proposed TIF District extends east-west along Dundee Road. Most
parcels in the proposed TIF District are adjacent to two intersections: Dundee Road and Arlington
Heights Road, and Dundee Road and Old Arlington Heights Road.
�i ��,;�.�e� I -�Je:,..I��F�ir�,r-t Pii,�.,i <i-•:, -:1'�'�..���r I1- I-���tu;t h9,�p
�µppryryp q � BEFCFIWO00 A6 I
��
...____.__ i
��14R qp
Y
S
O
SGvlfv,KirF53wr2 2 gy,/(pfOGj4ceMirJhSL�wU1 �
af
... ... . Q 'f_._._.__._.
. V
_ _
....� __. 1.. .' 4 � _ 1 1...
, ... . ;i... OYMOE@'R9%;n.,. t _.,� . ..... .,.. . �.,OCNDEf RG.. . ..�.. ...,W�,�
� � � � _ - � ...... .. .
� �._ u I
I �
' �_J u '
wac�M✓�rae '
�� ° � I
„ .��
� ;�,�.
� ;
,, _ , _
__ _ � �
�„���P = - , �
'S D I
O � �
o ,. _
�,___r� __�,____�,_.P_�_,_ __.- A