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A RESOLUTION DECLARING THE VILLAGE OF ORLAND PARK’S OFFICIAL INTENT TO REIMBURSE EXPENDITURES (ORLAND PARK RAVINIA TAX INCREMENT FINANCING DISTRICT)
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WHEREAS, the Village of Orland Park (the “Village”) is authorized, under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. (the “TIF Act”), to finance “redevelopment project costs,” as defined in Section 3(q) of the TIF Act, 65 ILCS 5/11-74.4-3(q) (the “TIF Project Costs”), in connection with redevelopment project areas established in accordance with the requirements set forth in the TIF Act; and
WHEREAS, on January 19, 2026, the Village President and Board of Trustees of the Village adopted an Ordinance Granting a Special Use for a Planned Development with a Modification, a Special Use for a Commercial Retail Establishment with a Floor Area Greater than 50,000 Square Feet, and a Special Use for Development Within 50 Feet of a Nontidal Wetland (Amazon Retail Planned Development - 9600 159th Street); and
WHEREAS, the Village President and Board of Trustees of the Village intend to move forward with a feasibility study under the TIF Act (the “Feasibility Study”), to determine if the area set forth on attached and incorporated Exhibit A (the “Study Area”), may be designated as a redevelopment project area under the TIF Act; and
WHEREAS, the Developer will be expending funds for TIF Project Costs which, if the Study Area is established as a TIF district pursuant to the TIF Act, such Project costs may be reimbursable from TIF incremental revenues generated from properties within the Study Area (“TIF Expenditures”); and
WHEREAS, if certain conditions are met, the Village reasonably expects to reimburse the Developer for TIF Expenditures from TIF incremental revenues generated by properties within the Study Area (“TIF Revenues”) and / or from the proceeds of debt obligations to be issued by the Village (“Debt Obligations”) in relation to these TIF Expenditures...
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