HomeMy WebLinkAboutResolutions - 22-8 - 02/22/2022 - TIF Extension Request Resolution No.22-8
A Resolution Approving the Request to the Illinois State Legislature to Extend the City's
Downtown Tax Increment Finance District
WHEREAS, the City of McHenry, McHenry County, Illinois, is a home rule municipality as
contemplated under Article VII, Section 6, of the Constitution of the State of Illinois, and the passage of
this Resolution constitutes an exercise of the City's home rule powers and functions as granted in the
Constitution of the State of Illinois;
WHEREAS, the statutes of the State of Illinois pursuant to the "Tax Increment Allocation
Redevelopment Act," 65 ILCS 5/ 11-74.4-1 et seq; as amended, hereinafter referred to as the "TIF Act,"
provide for municipalities to create within their corporate boundaries Tax Increment Financing
Redevelopment Areas, Plans and Projects and to amend such areas;
WHEREAS, on April 15, 2002, the Mayor and City Council (the "Corporate Authorities") of the
City of McHenry adopted the following ordinances (collectively,the "Ordinances")necessary to establish
tax increment financing for what is known as the City of McHenry's Downtown Tax Increment Finance
District(the"TIF District"):
1. Ordinance Number ORD 02-1068: An Ordinance of the City of McHenry, McHenry County,
Illinois Approving Downtown McHenry Redevelopment Project and Plan for the City of
McHenry Tax Increment Redevelopment Project Area; and
2. Ordinance Number ORD 02-1069: An Ordinance of the City of McHenry,McHenry County,
Illinois Designating the City of McHenry Tax Increment Redevelopment Project Area, a
Redevelopment Project Area Pursuant to the Tax Increment Allocation Redevelopment Act,as
Amended;and
3. Ordinance Number ORD 02-1070: An Ordinance of the City of McHenry, McHenry County,
Illinois Adopting Tax Increment Allocation Financing for the City of McHenry Tax Increment
Redevelopment Project Area;
WHEREAS, economic conditions delayed the full implementation of the TIF District's
Redevelopment Plan;
WHEREAS, the Mayor and City Council have determined that the full redevelopment of the TIF
District will not be achieved without extending the life of the TIF District for a period of twelve(12)years
to compensate for the time lost due to the economic downturn of the 2000's and the economic challenges
associated with the COVID-19 pandemic;
WHEREAS, the Mayor and City Council discussed the extension of the TIF District at their
meeting of August 3,2020 and the City Administration has continued to work on the possibility of such an
extension; and
WHEREAS,the Mayor and City Council have concluded that it would be desirable and in the best
interests of the City's residents to extend the life of the existing TIF District for an additional twelve (12)
years from the original date of termination for a total of thirty-five(35)years pursuant to the Tax Increment
Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended.
Now,therefore,be it resolved by the City Council of the City of McHenry, Illinois, as follows:
Section 1: The Mayor and City Council of the City of McHenry hereby express their support for
a legislative extension of the City's TIF District for a period of twelve(12)additional years.
Section 2: The City administration is directed to take action to seek such a legislative extension.
Section 3: This Resolution be in full force and effect upon its adoption.
Adopted this 22nd day of February, 2022.
Ayes: Santi,McClatchey, Harding, Strach, Devine, Miller
Voting Aye: Glab
Voting Nay:
Absent:
Abstain:
APPROVED:
(SEAL)
ATTEST:
' Mayor NV4peTett
Deputy City Clerk Monte Johnson
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