TO: Mayor and City Council
FROM: James V. Capparelli, City Manager
SUBJECT:
title
Fulfillment of the Statutory Public Hearing Requirement for the Proposed First Amendment to the Rock Run Crossings Redevelopment Project Area and Redevelopment Plan
end
BACKGROUND:
In January 2021, the City of Joliet adopted Ordinance 1865 establishing the Rock Run Crossings Redevelopment Project Area (RRC RPA), adopted Ordinance 1864 approving the Rock Run Crossings Redevelopment Plan and Project for the RRC Redevelopment Project Area and adopted Ordinance 1866 establishing the Rock Run Crossings TIF District for the RRC Redevelopment Project Area. The original Rock Run Crossing Redevelopment Area consisted of approximately 263 acres.
The main purpose of this proposed First Amendment to the Original RRC Plan is to expand the boundary of the Original RRC RPA to include an additional area of land in the City. The new additional area consists of 46 acres located immediately south of the Original RRC RPA known as the Simov property. With the addition of the expansion area, the expanded RRC RPA will increase in size from approximately 263 acres to approximately 309 acres.
This First Amendment defines the area comprising the Expansion Area for the Expanded RRC RPA, evaluates the eligibility of the Expansion Area to qualify under the TIF Act, sets forth the amendments to the Original RRC Plan (thereby creating the Amended Plan for the Expanded RRC RPA), and provides updated exhibits for the Expanded RRC RPA and Amended Plan. The Rock Run Cross TIF Eligibility Study prepared by Miller, Hall and Triggs, LLC finds that the Expansion Area meets the requirements the TIF Act and, but for the adoption of this First Amendment, the Amended Plan and the Expanded RRC RPA will not reasonably develop in a manner that is desired by the City. The First Amendment to the Rock Run Crossings Tax Increment Financing Eligibility Study and Redevelopment Project Area and Redevelopment Plan is attach...
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