Office of the City Clerk - Record #: O2013-3458

• Record #: O2013-3458
• Type: Ordinance
• Status: Passed
• Intro date: 5/8/2013
• Current Controlling Legislative Body: Committee on Finance
• Final action: 6/5/2013
• Title: Land use map for Near West Tax Increment Financing (TIF) Redevelopment Plan and Project
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Near West - Madison/Racine T.I.F.

Date	Journal Page Number	Action By	Action	Result
6/5/2013	53855	City Council	Passed	Pass
6/3/2013		Committee on Finance	Recommended to Pass	Pass
5/8/2013	52101	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR


May 8, 2013










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Housing and Economic Development, I transmit herewith an ordinance authorizing an amendment to the Near West TIF Map.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
S:\SHARED\Finance\Near West TIRAmendment 2013\ord 1 doc

ORDINANCE

WHEREAS, under ordinances adopted on March 23,1989, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 25874 to 25933, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seg., as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved a redevelopment plan and project (the "Original Plan") for a portion of the City known as the "Madison/Racine Redevelopment Project Area" (the "Original Area"); (ii) designated the Original Area as a "redevelopment project area" within the requirements of the Act; and (iii) adopted tax increment financing for the Original Area (the foregoing items three ordinances are collectively referred to herein as the "TIF Ordinances"); and

WHEREAS, the Corporate Authorities subsequently determined it was necessary to expand the Original Area to include additional contiguous areas (such areas, together with the Original Area, the "Expanded Area") and to name the Expanded Area the "Near West Redevelopment Project Area"; and

WHEREAS, in connection with the Expanded Area, under ordinances adopted on June 10, 1996, and published in the Journal for such date at pages 23188 to 23367, and under the provisions of the Act, the Corporate Authorities amended and supplemented the TIF Ordinances by: (i) approving the "Near West Redevelopment Plan and Project" (the "Expanded...