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RESOLUTION NO. 1216
WHEREAS, the Village of Plainfield is considering the adoption of a Tax
Increment Financing District; and
WHEREAS, the Eligibility Report includes residential properties within the
District as well as vacant and commercial properties; and
WHEREAS, at the Public Hearing of November 23, 199$ several questions were
directed at the Board of Trustees requiring policy clarification;
NOW, THEREFORE, BE IT RESOLVED that the following Tax Increment
Financing implementation policy is hereby adopted:
1) Tax Increment Financing shall not be used in conjunction with
eminent domain to acquire any property within the District.
2) Tax Increment Financing shall concentrate on funding commercial
endeavors to diversify and enhance the Village's property and sales tax
base to ultimately increase that tax base for benefit of the entire
community. One of the immediate goals shall be to provide additional
parking and infrastructure for the District. The purpose of Tax
Increment Financing shall not include being used as funding for
residential projects.
3) Tax Increment Financing shall require an annual report to the public
and the members of the Joint Review Board listing the source and
amounts of all funds received, the expenditures of all funds, the
purpose of the expenditure, the benefiting property, its owner and
whether or not any financial liability remains outstanding for any
participating property within the District.
4) Tax Increment Financing shall require that all programs, policies,
projects and development agreements within the District shall be first
approved by the Village Board.
S) Tax Increment Financing shall require that the Village Board actively
seek the recommendations of its Plan Commission and Economic
Development Commission prior to the adoption of any program or
policy eligible for Tax Increment Financing.
6) Tax Increment Financing shall require the equal and fair application of
any program or policy to all properties and applicants within the
District meeting previously established and adopted standards.
7) Tax Increment Financing does not grant any variances or special
zoning category to properties within the District. Any zoning change
must conform to the Zoning Ordinance, including notice to adjoining
properties, public hearings and Ordinance adoption by the Village
Board.
PASSED THIS 7th DAY OF December , 1998.
Ayes: O' Connell, Dement:., Stalzer, Darnell, Rathbun.
Nayes: 0
Absent: Smolich, Rock.
APPROVED THIS 7trDAY OF December , 1998.
VILLAGE RESIDENT, PRO TEM
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