TAX INCREMENT FINANCING REDEVELOPMENT PROJECT
AREAS REGISTRATION FOR INTERESTED PARTIES REGISTRY
Pursuant to Section 11-74.4-2 of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (the “Act”), the Village of Lakemoor (the “Village”) is required to establish an interested parties registry (“Registry” or “Registries”) for each “Redevelopment Project Area” created pursuant to the Act, whether existing as of the date of this Notice or hereafter established. On November 6, 2014, the Village adopted an ordinance authorizing the establishment of Registries by the Village Clerk (the “Clerk”) and adopting Registration Rules for such Registries. The purpose of this Notice is to inform Interested Parties of the Registries and Registration Rules for the Registries and to invite Interested Parties (as defined below) to register in the Registry for any Redevelopment Project Area in the Village.
Any individual or organization requiring information pertaining to activities within one or more Redevelopment Project Areas in the Village (an “Interested Party”) is entitled to register in the Registry for any Redevelopment Project Area. Organizations include, but are not limited to, businesses, business organizations, civic groups, not-for-profit corporations and community organizations.
An organization seeking to register as an Interested Party with respect to a Redevelopment Project Area must also complete and submit a Registration Form to the Clerk.
Interested Parties Registries are being established for the following Redevelopment Project Areas, which the Village is considering designating:
Proposed Rt. 120 TIF (North) District
Proposed Rt. 120 TIF (South) District
Any future or current TIF Districts
All individuals and organizations whose Registration Forms comply with the Registration Rules, and are submitted, either in person or by mail, to the office of the Village Clerk, 28874 West Illinois Route 120, Suite C & D, Lakemoor, Illinois 60051, will be registered in the applicable Registry within 10 business days after the Clerk’s receipt of all such documents. The Clerk will provide written notice to the registrant confirming such registration. Upon registration, Interested Parties will be entitled to receive all notices and documents required to be delivered under the Act with respect to the applicable Redevelopment Project Area. If the Clerk determines that a registrant’s Registration Form is incomplete or does not comply with the Registration Rules adopted by the Village, the Clerk will give written notice to the registrant specifying the defects. The registrant will be entitled to correct any defects and resubmit a new Registration Form and supporting documentation. An Interested Party’s registration will remain effective for a period of three years. Rules for the renewal or amendment of an Interested Party’s registration are included with the Registration Form that may be obtained as described herein.
Each Registry will be available for public inspection at the office of the Clerk during normal business hours. The Registry will include the name, address and telephone number of each Interested Person and/or organizations, the name and phone number of a designated contact person.
Interested Parties will be sent the following notices and any other notices required under the Act with respect to the applicable Redevelopment Project Area:
(i) Pursuant to sub-section 11-74.4-5(a) of the Act, notice of the availability of a proposed redevelopment plan and eligibility report, including how to obtain this information; such notice shall be sent by mail within a reasonable period of time after the adoption of the ordinance fixing the public hearing for the proposed redevelopment plan;
(ii) Pursuant to sub-section 11-74.4-5(a) of the Act, notice of changes to proposed redevelopment plans that do not (1) add additional parcels of property to the proposed Redevelopment Project Area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of or extend the life of the redevelopment project, or (4) increase the number of inhabited residential units to be displaced from the Redevelopment Project Area, as measured from the time of creation of the Redevelopment Project Area, to a total of more than 10; such notice shall be sent by mail not later than 10 days following the Village’s adoption by ordinance or resolution of such changes.
(iii) Pursuant to sub-section 11-74.4-5(c) of the Act, notice of amendments to previously approved redevelopment plans that do not (1) add additional parcels of property to the redevelopment project area, (2) substantially affect the general land uses in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project costs set out in the redevelopment plan by more than 5 percent after adjustment for inflation from the date the plan was adopted, (5) add additional redevelopment project costs to the itemized list of redevelopment project costs set out in the redevelopment plan, or (6) increase the number of inhabited residential units to be displaced from the redevelopment project area, as measured from the time of creation of the redevelopment project, to a total of more than 10; such notice will be sent by mail not later than 10 days following the Village’s adoption by ordinance of such amendment;
(iv) Pursuant to sub-section 11-74.4-5(d)(9) of the Act, for redevelopment plans or projects that would result in the displacement of residents from 10 or more inhabited residential units or that contain 75 or more inhabited residential units, notice of the availability of the annual report described by sub-section 74.4-5(d) of the Act, including how to obtain the annual report; such notice shall be sent by mail within a reasonable period of time after completion of the certified audit report.
(v) Pursuant to sub-section 11-74.4-6(e) of the Act, notice of the public meeting required under the Act for any proposed Redevelopment Project Area that would result in the displacement of residents from 10 or more inhabited residential units or which would contain 75 or more inhabited residential units; such notice shall be sent by certified mail not less than 15 days before the date of such preliminary public meeting.
Registration Forms may be picked up at the office of the Village Clerk, Village of Lakemoor, 28874 West Illinois Route 120, Suite C & D, Lakemoor, Illinois 6005 land may be obtained by Interested Parties or by their representatives. Registration Forms will not be mailed or faxed. If you require additional information, please call the office of the Village Clerk at 815/385-1117.
(Ord. 14-O-33, passed 11-6-2014)