ORDINANCE NO. 2006-59 CITY OF MONTICELLO ADOPTING TAX INCREMENT FINANCING TAX INCREMENT FINANCING DISTRICT II WHEREAS, the City of Monticello, Illinois, desires to adopt tax increment financing pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/ 11-74.4-1 etseq. as amended, hereinafter referred to as the " Act." WHEREAS, the City of Monticello has adopted a Redevelopment Plan and Projects, and designated a Redevelopment Project Area- II pursuant to the provisions of the Act, and has otherwise complied with all other conditions precedent required by the Act. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MONTICELLO, ILLINOIS, THAT: 1. Tax increment financing is hereby adopted with respect to the Redevelopment Plan and Project approved and adopted pursuant to Ordinance No. 2006-57 the City of Monticello concerning the Redevelopment Project Area described in Exhibit A (legal description) and Exhibit B ( map) attached to and made a part of this Ordinance which Redevelopment Project Area was designated pursuant to Ordinance No. 2006-58. 2. After the equalized assessed valuation of each tract of taxable real property in the Redevelopment Project Area exceeds the initial equalized assessed value of each tract of taxable real property in the Redevelopment Project Area, the ad valorem taxes, if any, arising from the levies upon real property in the Redevelopment Area by taxing districts and the rates determined in the manner provided in Section 11-74.4-9( b) of the Act each year after the effective date of this Ordinance until the Redevelopment Project costs and obligations issued in respect thereto have been paid shall be divided as follows: a. That portion of taxes levied upon each taxable lot, block, tract or parcel of real property which is attributable to lower of the current equalized assessed value or the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the Redevelopment Project 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 which is attributable to the increase in the current equalized assessed valuation of each lot, block, tract or parcel of real property in the redevelopment project area over and above the lower of the current equalized assessed value or the initial equalized assessed value of each parcel of property in the Redevelopment Project Area shall be allocated to and when collected shall be paid to the municipal treasurer who shall deposit said funds in a special fund called the Special Tax Allocation Fund for the Redevelopment Project Area" of the municipality for the purpose of paying the Redevelopment Project costs and obligations incurred in the payment thereof, pursuant to such appropriations which may be subsequently made. Monticello Tax Increment Financing District II
3. All ordinances and parts of ordinances in conflict herewith are hereby repealed. 4. This Ordinance shall be in full force and effect from and after its passage and approval as provided by law. ADOPTED by the Mayor and City Council of the City of Monticello, Illinois, on the 11th day of September, A.D., 2006, and deposited and filed in the Office of the City Clerk of said City on that date. COUNCIL MEMBER AYE VOTE NAY VOTE ABSTAIN/ ABSENT Allman Vanderkloot McHale Corrie Jones Weisenborn Brown Hayes TOTAL VOTES: 6 0 2 APPROVED: Date: September 11, 2006 Mayor ATTEST: Date: September 11, 2006 City Clerk Exhibit( A) Attached, Monticello TIF District II Legal Description Exhibit( B) Attached, Monticello TIF District II Boundary Map Monticello Tax Increment Financing District II
Exhibit" A" of Ordinance 2006-59 BOUNDARY OF DISTRICT A parcel of land situated in Sections 1, 12, 13 and 24, Township 18 North, Range 5 East of the Third Principal Meridian, and Sections 5, 6, 7 and 18, Township 18 North, Range 6 East of the Third Principal Meridian, and Sections 31 and 32, Township 19 North, Range 6 East of the Third Principal Meridian, all in Piatt County, Illinois, described as follows: Beginning at the Southwest corner of said Section 31, proceed Easterly on the South line of said Section to the Southwest corner of Lot 10 of a subdivision of the South Half of Section 31, Township 19 North, Range 6 East of the Third Principal Meridian, as per Plat recorded in Book 26 at Page 7 of the records in the Piatt County Recorder' s Office; thence Northerly, on the West line of Lots 10, 8& 7 of said Subdivision, 1, 369. 50 feet to a corner on the West line of Said Lot 7; thence Easterly to the Westerly right of way line of the West Frontage Road of FAI Route 72, left of Station 84+ 00 on said West Frontage Road; thence Northerly and Easterly on said right of way line, to the Westerly right of way line of State Route 105 ( Old Route 47) left of Station 73+ 18. 18; thence Northerly, on said Westerly right of way line, to the North line of the Southeast Quarter of said Section 31; thence Easterly, on said North line, to the West line of said Section 32; thence Northeasterly along said West line to the South line of Walden Pond Estates- First Addition as per plat recorded in Book 12 at Page 242 in the Piatt County Recorder' s Office; thence Southwesterly along said South line to the West line of Lot No. l as per plat recorded in Book 26 at Page 94 in the Piatt County Recorder' s Office: thence Northerly along said West line to the Northwest corner of said Lot No. 1; thence Easterly along the North line of said Lot No. 1 to the Northeast corner of said Lot No. 1; thence Southerly along the East line of said Lot No. 1 to the Westerly right of way line of FAI Route 72; thence Southwesterly, on said right of way line to 110 feet left Station 1494+ 77. 70; thence Easterly on the line radial to the centerline of said Route 72 approximately 396 feet to the Easterly right of way line of former Illinois Terminal Company; thence Southwesterly on said former right of way line to the North line of said Section 6; thence Easterly, on said North line, 19. 4 feet to the East line of Easement 100 Monticello Tax Increment Financing District 11
as shown on the Plat of Survey recorded in Book 12 at Page 263 of the records in the Piatt County Recorder' s Office; thence Southerly, on said East line, 150 feet to the North line of Tract Al as delineated on said Plat of Survey; thence Easterly, on said North line, 478. 14 feet to the east line on said Tract; thence Southerly, on said East line, 173. 86 feet to the South line of said Tract; thence Westerly, on said South line, 478. 14 feet to the West line of said Tract; thence Northerly, on said West line, 75 feet to the South line of Easement 100, aforesaid; thence Westerly, on said South line, 40 feet to a Westerly line of said Easement; thence Northerly, on said Westerly line, 209. 7 feet to a Westerly line of said Easement, thence Northwesterly, on said Westerly line, 81. 25 feet; thence Westerly 45. 65 feet to the Westerly right of way line of said former Illinois Terminal Company; thence Southerly, on said former right-of-way line to the South line of the North '/2( one-half) of the Northeast'/ 4( one-quarter) of Section 6, Township 18 North, Range 6 East as shown on the Plat of Survey recorded in Book 11 at Page 48 in the records of the Piatt County Recorder' s Office, thence westerly on said South line to the East line of a tract as shown on a Plat of Survey as recorded in Book 12 at Page 222 of the records in the Piatt County Recorder' s Office; thence Southeasterly to the Southeast corner of said tract; thence Southwesterly to the Southwest corner of said tract, thence Northwesterly 71. 78 feet to the Southwest Corner of Lot 1 of Lot3 as shown in Deed Book 26 at page 153 of the records in the Piatt County Recorder' s Office; thence proceed Northwesterly on said West line to the intersection of the Northerly projection of said West line and the Northerly right-of-way line of the East Frontage Road of relocated Illinois Route 105; thence proceed Southeasterly along said Northerly right-of way line to the East line of the Southwest Quarter of the Southeast Quarter of Section 31, Township 19 North, Range 6, East of the Third Principal Meridian; thence Northerly along said East line to the South line of Lot 6 of the subdivision of the South 1/ 2( onehalf) of Section 31, Township 19 North, Range 6 East of the Third Principal Meridian as recorded in Book 26 of Deeds at Page 7 in the Piatt County Recorder' s Office; thence westerly along said South line to the Easterly right-ofway line of the East Frontage Road of relocated Illinois Route 105; thence Southwesterly along said Easterly rightof-way line to the North line of Lot 9 of said subdivision; thence Southwesterly to the Northeast corner of Lot 10 of said subdivision; thence Southwesterly along the East line of Lot 10 of said subdivision to the Southeast corner of Lot 10 of said subdivision; thence Southwesterly to the intersection of the Southerly right-of-way line of FAI Route 72 and Northwesterly projection of the East line of Lot 10 of Troy Phillips Subdivision; thence Southwesterly along said Southerly right-of-way line to the East right-of-way line of Norfolk-Southern Railroad; thence South along said Monticello Tax Increment Financing District 11
East right-of-way line to the intersection of Lot 1 as shown on Commercial Place Subdivision in Book 13 at Page 158 of the records in the Piatt County Recorder' s Office; thence Northeasterly along the West line of said Lot 1, 87 feet to the North line of said Commercial Place Subdivision; thence Easterly along said North line to the West rightof-way line ofnorth Market Street( State Route 105); thence Northeasterly along said right-of-way line to the West line of" Tract A" as shown on the plat of Troy Phillips Subdivision; thence South along said West line to the North line of Lot 1 of Bensyl Commercial Park; thence Easterly along said North line to the Northeast corner of Lot 1 of Bensyl Commercial Park; thence South along the East line of said Lot 1, to the South right-of-way line of Iron Horse Place; thence Westerly along said South right-of-way line to the Northeast corner of Lot 7 of said Bensyl Commercial Park; thence South along the East line of said Lot 7, 279. 78 feet; thence West along a South line of said Lot 7, 55. 21 feet; thence North along a West line of said Lot 7, 60.00 feet to a point on the South line of a 6. 580- acre tract of land as surveyed by William C. Faulkner, I.P. L.S. no. 1940, dated Dec. 7, 1994; thence West along said South line to the Northeast corner of Indian Valley Ridge Second; thence Southerly on the East line of said Indian Valley Ridge Second to the Southeast Corner of said Indian Valley Ridge Second; thence Westerly on the South line of said Indian Valley Ridge Second to the Northeast corner of Indian Valley Ridge First; thence Southerly, on the East line of said Indian Valley First 900 feet to the North line of the Monticello Township Cemetery Association Lands; thence Southwesterly, on said North line, to a line 300 feet East of and parallel with the East right of way line of North Market Street( State Route 105); thence Southerly, on said parallel line, to the South right-of-way line of Township Road 1730 North( Cemetery Road); thence Westerly, on said South right of way line, 305 feet to the East right of way line of said North Market Street; thence Southwesterly, on said East right of way line, to the South line of Piatt County Forest Preserve Park; thence Westerly to the West right of way line of the Norfolk-Southern Railroad; thence Northerly, on said right of way line, to the Southeast corner of Lot 8 of Valentine Estate Survey as per Plat recorded in Plat Book 13 at Page 6 of the records in the Piatt County Recorder' s Office; thence Westerly along the South line of said Lot 8 to the West line of the 60- foot City of Monticello sanitary easement as shown on said Plat; thence Northerly along the West line of said easement to the North line of said Lot 8; thence to the East along said North line to the West right-of-way line of the Norfolk- Southern Railroad; thence Northerly along said right-of-way line to the North line of lot I ( one) of said survey; thence Westerly, on said North line, 651 feet to the Northwest corner of said survey; thence Southerly, on a West line of said Survey, 1, 327 feet to the North line of lot 2 Monticello Tax Increment Financing District 11
two) of said Survey; thence Westerly on said North line, 669 feet to the Northwest corner of said Lot 2 ( two); thence Southerly along the West line of Valentine Estate Survey as per Plat recorded in Plat Book 13 at Page 6 of the records in the Piatt County Recorder' s Office to the North line of Weather Oaks 2nd Addition per Plat recorded in Book 4 at Page 217 of the records in the Piatt County Recorder' s Office; thence Westerly, on said North line, 81 feet to the Northwest corner of said Addition; thence Southerly, on the West line of said 2nd Addition and the West line of Weather Oaks I" Addition per Plat recorded in Book 4 at Page 205 of said records, 1, 240 feet to the North right of way line of FAS Route 538 ( Bridge Street); thence Southeasterly, on said right of way line, to the West right of way line of Front Street; thence Northerly, on said right of way line, to the Westerly prolongation of the North line of Lot G in Heath' s Subdivision per Plat recorded in the records in the Piatt County Recorder' s Office; thence Easterly on said North line and the North line of Lot A of Gray' s 1" Subdivision as per plat recorded aforesaid, to the East line of said Gray' s Subdivision; thence Southerly on said East line, to the North Right of way line of Bridge Street; thence Easterly, on said right of way line to the East right of way line of North Market Street( State Route 105); thence Southerly, on said right of way line, to the North right of way line of Livingston Street; thence Easterly, on said right of way line, to the Westerly right of way line of State Street; thence Northerly along said West right-ofway line to the Westerly projection of the South line of Lots 1 thru 4 of Block 9 and Lots 1 thm 4 of Block 10 of Rawlin' s Addition as per Plat recorded in Plat Book H at Page 416 of the records in the Piatt County Recorder' s Office; thence Easterly along said South line to the West right-of-way line of Hamilton Street; thence Northerly along said right- of-way line to the North right- of-way line of Center Street; thence Easterly along said right- of-way line to the East right-of-way line of Buchanan Street; thence Southerly along said East right-of-way line to the South right-of-way line of Livingston Street; thence Westerly along said South right-of-way line to the East right-of-way line of Independence Street; thence Southerly along said East right-of-way line to the South right-of-way line of Washington Street; thence Westerly along said South right-of-way line, to the East right of way line of Market Street State Route 105); thence Southerly, on said right of way line, to the South line of the Monticello School Athletic Complex; thence Easterly, on said South line, to a line 300 feet Easterly of and Parallel with the East right of way line of Market Street( State Route 105); thence Southerly, on said parallel line, to the Easterly projection of the South right-of-way line of Burnside Road as shown on Bear Industrial Park per plat recorded in the records in the Piatt County Recorder' s Office; thence Westerly on said South right-of-way line to the Northwest corner of Lot 9 of Monticello Tax Increment Financing District 11
said Bear Industrial Park; thence Southerly along the West line of said Lot 9 to the Southwest corner of said Lot 9; thence Easterly along the South line of said Lot 9 to the Southeast corner of said Lot 9; thence Northerly along the East line of said Lot 9 to the Southwest corner of Lot 5 of said Bear Industrial Park; thence Easterly along the south line of said Lot 5 to the East right-of-way line of Bear Lane; thence Southerly along said East right-of-way line to the southwest corner of Lot 3 of said Bear Industrial Park; thence Easterly along the said South line of Lot 3 to an Easterly line of Bear Industrial Park; thence Southerly on the Easterly lines of Bear Industrial Park to the South line of Bear Industrial Park; thence Westerly along said South line to the Easterly right-of-way line of the Norfolk and Southern Railroad; thence Northerly, on said right of way line, to the South line of the Piatt County Safety Building Parcel; thence Easterly along said South line to the southeast corner of the Piatt County Safety Building Parcel; thence Northerly along the East line of the Piatt County Safety Building Parcel to the northeast corner of the Piatt County Safety Building Parcel; thence Westerly along the North line of the Piatt County Safety Building Parcel to the Easterly right-of-way line of the Norfolk and Southern Railroad; thence Northerly along said right-of-way Line to the South right of way line of William Street; thence Westerly, on said right of way line to the West right of way line of Park Street; thence Northerly, on said right of way line, to the South right of way line of Washington Street; thence Westerly, on said right of way line, to the West right of way line of North West Union; thence Northerly, on said right of way line, to the South right of way line of Railroad Street; thence Westerly, on said right of way line, to the East line of the Plat of Lots 1 thru 25 in the Southeast Quarter of Section 12, Township 18 North, Range 5 East of the Third Principal Meridian; thence Northerly, on said East line to the North right of way line of the former Illinois Central Railroad; thence Westerly, on said right of way line, to the Sangamon River; thence Northerly along said Sangamon River to the North right of way line of FAS Route 530( Bridge Street); thence Easterly, on said right of way line, to the West line of the East One-Half of Section 12 aforesaid; thence Northerly, on said West line, 1, 388 feet to the North line of Lot 5 per County Surveyor' s Plat recorded in Book 2 at Page 112 of the records in the Piatt County Recorder' s Office; thence Easterly, on said North line, 42 feet to the East bank of the Sangamon River; thence Northerly, following said East bank, 1, 442 feet to the South line of Lot 7 of said County Surveyor' s Plat; thence Westerly, on said South line, 437 feet to the East line of Lot 6 of Survey by Crowe recorded in Book 5 at Page 77 of the records in the Piatt County Recorder' s Office; thence Northerly, on said East line, 939 feet to the North line of said Section 12; thence Westerly, on said North line, 610 feet to the Northwesterly right of way line of Monticello Tax Increment Financing District II
old Route 47; thence Northeasterly, on said right of way line, 3, 480 feet to the South line of the Northeast Quarter of Section 1 aforesaid; thence Westerly, on said South line, to the East bank of the Sangamon River; thence Northerly, on said East bank, 1, 380 feet to the South line of the Northeast Quarter of the Northeast Quarter of said Section 1; thence Westerly, on said South line, to the West line of said Northeast Quarter of the Northeast Quarter; thence Northerly, on said West line, 1, 374 feet to the North line of said Section 1; thence Easterly, on said North line, 1322 feet to the Point of Beginning. Excepting from the above description the following tract of ground described as follows: Exception No. 1 ( County Market) Lots One( 1), Two( 2) and Three( 3) in the subdivision of Outlot 6 of the Original Town, now City of Monticello, Piatt County, Illinois The above description has been prepared from Plats, Maps and other Documents in the Public Record and is not the result of a Survey made on the ground. Any dimensions or quantities shown are approximate and have been scaled or obtained from the Public Record. Monticello Tax Increment Financing District II