Skip to code content (skip section selection)
AN ORDINANCE OF THE VILLAGE OF FOX LAKE, LAKE AND MCHENRY COUNTIES, ILLINOIS, AUTHORIZING REIMBURSEMENT OF BUSINESS DISTRICT PROJECT COSTS
WHEREAS, the Village of Fox Lake, Lake and McHenry Counties, Illinois (the “Village”) is a duly organized and validly existing non home-rule municipality created in accordance with the Constitution of the State of Illinois of 1970 and the laws of this State; and,
WHEREAS, the President and Board of Trustees of the Village (the “Corporate Authorities”), pursuant to the Business District Development and Redevelopment Law of the State of Illinois, 65 ILCS 5/11-74.3-1 et seq., as from time to time amended (the “BDD Act”) are empowered to undertake the development and redevelopment of business districts within its municipal limits which are in need of revitalization and to impose a retailers’ occupation tax, service occupation tax, and a hotel operators’ occupation tax in an amount not to exceed one percent (1%) if such districts are deemed to be “blighted”, as defined in the BDD Act; and,
WHEREAS, pursuant to the BDD Act, the Corporate Authorities, by Ordinance No. 40, adopted on September 12, 2017, designated the Central Business District (the “BD District”) as a “business district”, as defined by the BDD Act; approved the Central Business District Eligibility Study and Business District Plan (the “BD Plan”) which set forth a plan for the development, redevelopment and revitalization of the BD District; and, imposed a retailers’ occupation tax, a service occupation tax, a hotel operators’ occupation tax in the amount of one percent (1%) on all commercial operations within the boundaries of the BD District (the “BDD Taxes”);and,
WHEREAS, the existence of the blighting factors in the BD District, as described in the BD Plan, and the extraordinary costs necessary for redevelopment have prevented private developers from developing, redeveloping, and revitalizing the BD District, which has, in turn, prevented the development and construction of commercial enterprises within the BD District; and,
WHEREAS, Fox Lake Family Restaurant, Inc., an Illinois corporation (the “Developer”) owns and operates the Fox Lake Family Restaurant located at 56 North Route 12, Fox Lake, Illinois (the “Business”), and proposes to replace the signage located on the Developer’s property fronting Route 12; and,
WHEREAS, the Developer has advised the Village of the need to better advertise the Business is necessary due to the fact that it has experienced a decline due to the infrastructure reconstruction along Route 12, however, the Developer has informed the Village that the ability to proceed shall require financial assistance to replace the signage, which cost would constitute “Business District Project Costs” as such term is defined in the BDD Act; and,
WHEREAS, the Project is consistent with the BD Plan and the Subject Property is located within the BD District; and,
WHEREAS, the Corporate Authorities have determined that in order to permit the Developer to replace the signage for the Business, it is in the best interests of the Village, and the health, safety, morals, and welfare of the residents of the Village, for the Village to reimburse the Developer for a portion of the cost thereof thereby providing commercial development along Route 12.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the Village of Fox Lake, Lake and McHenry Counties, Illinois, as follows:
Section 1. That the payment of an amount not to exceed $5,000 for the replacement of the signage located at 56 North Route 12, Fox Lake, Illinois, from the Business District Tax Allocation Fund established for the Central Business District is herebyapproved.
Section 2. This Ordinance shall be in full force and effect immediately upon its passage by the President and Board of Trustees and approval as provided bylaw.
ADOPTED this 25 th dayof August, 2020, pursuant to a roll call vote as follows:
APPROVED this 25th dayof August, 2020.