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Record #: O2013-1947   
Type: Ordinance Status: Passed
Intro date: 3/13/2013 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 4/10/2013
Title: Sale of City-owned property at 11-15 East 9th Street and 901-1007 S State St to and execution of redevelopment agreement with Golub Real Estate Corp.for mixed-use development
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Redevelopment, - PROPERTY - Sale
Attachments: 1. O2013-1947.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

March 13,2013









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

Ladies and Gentlemen:

At the request ofthe Commissioner of Housing and Economic Development, I transmit herewith ordinances authorizing the sale of City-owned property.

Your favorable consideration of these ordinances will be appreciated.

Mayor

Very truly yours,
ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, pursuant to ordinances adopted by the City Council of the City (the "City Council") on November 28, 1990, and published in the Journal of the Proceedings of the City Council (the "Journal") of such date, (i) a certain redevelopment plan and project (the "Initial Redevelopment Plan") for the Central Station Tax Increment Financing Redevelopment Project Area (the "Initial Redevelopment Area"), was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seg.) (the "Act"); (ii) the Initial Redevelopment Area was designated as a redevelopment project area pursuant to the Act; and (iii) tax increment financing was adopted pursuant to the Act as a means of financing certain Initial Redevelopment Area redevelopment project costs (as defined in the Act) incurred pursuant to the Initial Redevelopment Plan; and

WHEREAS, pursuant to an ordinances adopted by the City Council on August 3,1994, and published in the Journal of such date, (i) a certain redevelopment plan and project (the "Redevelopment Plan") for the Near South Tax Increment Financing Redevelopment Project Area (the "Redevelopment Area"; such Redevelopment Area was an expansion of / amendment to the Initial Project Area), was approved pursuant to the Act; (ii) the Redevelopment Ar...

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