EDA Res 11-002SHOREWOOD ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 11-002
ACCEPT PROPERTY TRANSFER FROM CITY OF SHOREWOOD
AT 24620 SMITHTOWN ROAD
WHEREAS, the City Council and Planning Commission have endorsed redevelopment of
the Smithtown Crossing intersection at County Road 19 and Smithtown Road; and
WHEREAS, the property at 24620 Smithtown Road has been purchased from a willing
seller; and
WHEREAS, the City Council plans to use the property for future economic development
purposes; and
WHEREAS, the redevelopment will likely involve tax increment financing which is
allowable only under the authority of the EDA,
NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT
AUTHORITY OF SHOREWOOD AS FOLLOWS:
1. The donation of the property from the city to the EDA is hereby accepted.
2. Staff is authorized to pursue redevelopment proposals for the Smithtown Crossing
area.
ADOPTED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF
SHOREWOOD this 26th day of September, 2011.
0 ". ,
ATTEST Christine Lizee, President
F; o
Brian eck, Exe &a Director