CHICAGO December 11, 2013
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
An ordinance authorizing the termination of the 89th and State Redevelopment Project Area.
02013-9177
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
This recommendation was concurred in by (a(viva voce vote
of members of the committee with dissenting vote(s)T
(signed
Respectfully submitted
Chairman
Document No.
REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 26, 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 the termination of the 89th and State Tax Increment Financing Area.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City Council of the City of Chicago (the "City") adopted ordinances in accordance with the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 etseg. (the "Act") on April 1,1998: (1) approving a tax increment redevelopment project and plan for the 89th & State Redevelopment Project Area (the "Area"); (2) designating the Area as a tax increment financing district; and (3) adopting tax increment allocation financing for the Area; and
WHEREAS, pursuant to Section 8 of the Act, when redevelopment projects costs for a redevelopment project area, including without limitation all municipal obligations financing redevelopment project costs incurred under the Act, have been paid, all surplus funds then remaining in the special tax allocation fund for a redevelopment project area designated under the Act shall be distributed by being paid by the municipal treasurer to the State of Illinois Department of Revenue, the municipality and the county collector; first to the Department of Revenue and the municipality in direct proportion to the tax incremental revenue received from the State of Illinois and the municipality, but not to exceed the total incremental revenue received from the State or the municipality less any annual surplus distribution of incremental revenue previously made; with any remaining funds to be paid to the county collector who shall immediately thereafter pay said funds to the taxing districts in the redevelopment project area in the same manner and proportion as the most recent distribution by the county collector to the affected districts of real property taxes from real property in the redevelopment project area; and
WHEREAS, furthermore, pursuant to Section 8 of the Act, upon the payment of all redevelopment project costs, the retirement of obligations, the distribution of any excess monies pursuant to Section 8 of the Act, and final closing of the books and records of the redevelopment project area, the municipality shall adopt an ordinance dissolving the special tax allocation fund for the redevelopment project area and terminating the designation of the redevelopment project area as a redevelopment project area under the Act; and
WHEREAS, furthermore, pursuant to Section 8 of the Act, municipalities shall notify affected taxing districts prior to November 1 if a redevelopment project area is to be terminated by December 31 of that same year; and
WHEREAS, the City has, prior to November 1, 2013, notified the affected taxing districts of the proposed termination of the Area as a redevelopment project area, in accordance with the provisions of the Act; and
WHEREAS, with respect to the Area, by December 31, 2013 all redevelopment projects for which redevelopment project costs have been paid or incurred shall be completed, all obligations relating thereto shall be paid and retired, and, subject to Section 3 of this Ordinance, all excess monies, if any, shall be distributed; and
WHEREAS, subject to Section 3 of this Ordinance, the City shall accomplish the final closing of the books and records of the Area; and
WHEREAS, in accordance with the provisions of Section 8 of the Act, the City desires to
Exhibit A, Area Description (see attached)
3
Legal Description Of The Area.
That part of the northeast quarter of Section 4 together with part of the northwest quarter of Section 3, all in Township 37 North, Range 14 East of the
Third Principal Meridian, described as follows:
beginning at the point of intersection of the southerly line of the Chicago, Rock Island & Pacific Railroad with the west line of South State Street, said west line being a line drawn 33 feet west of and parallel with the west line of the northwest quarter of said Section 3; thence north 00 degrees, 02 minutes, 43 seconds West along said west line of South State Street, 1,058.51 feet to the point of intersection with the north line of East 89,h Street, said north line being a line drawn 33 feet north of and parallel with the north line of the southwest quarter of the northwest quarter of said Section 3; thence north 89 degrees, 58 minutes, 00 seconds east along said north line of East 89th Street, 1,405.60 feet to the point of intersection with the east line of South Indiana Avenue, said east line being a line drawn 50 feet east of and parallel with the east line of the southwest quarter of the northwest quarter of said Section 3; thence south 00 degrees east along said east line of South Indiana Avenue, 1,352.86 feet to the point of intersection with the aforementioned southerly line of the Chicago, Rock Island & Pacific Railroad; thence westerly along said southerly line of the Chicago, Rock Island & Pacific Railroad, 1,438.95 feet, said southerly line being the arc of a circle convex northerly, having a radius of 5,680 feet and whose chord bears north 78 degrees, 11 minutes, 50 seconds west 1,435.10 feet to the point of beginning, in Cook County, Illinois.
Containing 37.892 acres more or less.
Exhibit B, Area Map (see attached)
5
Project Boundary.
Exhibit C, List of Parcels within the Area (see attached)
7
n
PIN14 PIN10 PINA PINSA PINB PINP PINU
25031300890000 2503130089 25 3 130 89 0
25031300190000 2503130019 25 3 130 19 0
25031300280000 2503130028 25 3 130 28 0
25031300320000 2503130032 25 3 130 32 0
25031300030000 2503130003 25 3 130 3 0
25031300500000 2503130050 25 3 130 50 0
25031300440000 2503130044 25- 3 130 44 0
25031150330000 2503115033 25 3 115 33 0
25031300730000 2503130073 25 3 130 73 0
25031300760000 2503130076 25 3 130 76 0
25031310110000 2503131011 25 3 131 11 0
25031310230000 2503131023 25 3 131 23 0
25031310260000 2503131026 25 3 131 26 0
25031310090000 2503131009 25 3 131 9 0
25031310050000 2503131005 25 3 131 5 0
25031320040000 2503132004 25 3 132 4 0
25035010020000 2503501002 25 3 501 2 0
25031300970000 2503130097 25 3 130 97 0
25031300960000 2503130096 25 3 130 96 0
25031300880000 2503130088 25 3 130 88 0
25031300670000 2503130067 25 3 130 67 0
25031150470000 2503115047 25 3 115 47 0
25031300180000 2503130018 25 3 130 18 0
25031300200000 2503130020 25 3 130 20 0
25031300210000 2503130021 25 3 130 21 0
25031300220000 2503130022 25 3 130 22 0
25031300260000 2503130026 25 3 130 26 0
25031300310000 2503130031 25 3 130 31 0
25031300020000 2503130002 25 3 130 2 0
25031300480000 2503130048 25 3 130 48 0
25031300380000 2503130038 25 3 130 38 0
25031150480000 2503115048 25 3 115 48 0
25031300070000 2503130007 25 3 130 7 0
25031150320000 2503115032 25 3 115 32 0
25031300780000 2503130078 25 3 130 78 0
25031300680000 2503130068 25 3 130- 68 0
25031310200000 2503131020 25 3 131 20 0
25031320130000 2503132013 25 3 132 13 0
25031320170000 2503132017 25 3 132 17 0
25031150510000 2503115051 25 3 115 51 0
25035000020000 2503500002 25 3 500 2 0
25031300950000 2503130095 25 3 130 95 0
25031150460000 2503115046 25 3 115 46 0
25031300100000 2503130010 25 3 130 10 0
25031300230000 2503130023 25 3 130 23 0
25031300350000 2503130035 25 3 130 35 0
25031300040000 2503130004 25 3 130 4 0
25031300560000 2503130056 25 3 130 56 0
25031300470000 2503130047 25 3 130 47 0
25031300400000 2503130040 25 3 130 40 0
25031300720000 2503130072 25 3 130 72 0
8
25031300740000 2503130074 25031310120000 2503131012 25031310170000 2503131017 25031310100000 2503131010 25031320050000 2503132005 25031150500000 2503115050 25031320060000 2503132006 25031320180000 2503132018 25035010030000 2503501003 25031300660000 2503130066 25031300940000 2503130094 25031300930000 2503130093 25031150300000 2503115030 25031300920000 2503130092 25031300870000 2503130087 25031300120000 2503130012 25031300130000 2503130013 25031300150000 2503130015 25031300170000 2503130017 25031300250000 2503130025 25031300590000 2503130059 25031300580000 2503130058 25031300570000 2503130057 25031300410000 2503130041 25031300800000 2503130080 25031300810000 2503130081 25031300820000 2503130082 25031300620000 2503130062 25031300690000 2503130069 25031310240000 2503131024 25031310030000 2503131003 25031310040000 2503131004 25031320070000 2503132007 25031320100000 2503132010 25031300980000 2503130098 25031300850000 2503130085 25031150310000 2503115031 25031150380000 2503115038 25031300140000 2503130014 25031300240000 2503130024 25031300600000 2503130060 25031300550000 2503130055 25031300490000 2503130049 25031300700000 2503130070 25031300750000 2503130075 25031310250000 2503131025 25031320110000 2503132011 25031310010000 2503131001 25031310280000 2503131028 25031320150000 2503132015 25031310060000 2503131006 25031300910000 2503130091
25 3 130 74 0
25 3 131 12 0
25 3 131 17 0
25 3 131 10 0
25 3 132 5 0
25 3 115 50 0
25 3 132 6 0
25 3 132 18 0
25 3 501 3 0
25 3 130 66 0
25 3 130 94 0
25 3 130 93 0
25 3 115 30 0
25 3 130 92 0
25 3 130 87 0
25 3 130 12 0
25 3 130 13 0
25 3 130 15 0
25 3 130 17 0
25 3 130 25 0
25 3 130 59 0
25 3 130 58 0
25 3 130 57 0
25 3 130 41 0
25 3 130 80 0
25 3 130 81 0
25 3 130 82 0
25 3 130 62 0
25 3 130 69 0
25 3 131 24 0
25 3 131 3 0
25 3 131 4 0
25 3 132 7 0
25 3 132 10 0
25 3 130 98 0
25 3 130 85 0
25 3 115 31 0
25 3 115 38 0
25 3 130 14 0
25 3 130 24 0
25 3 130 60 0
25 3 130 55 0
25 3 130 49 0
25 3 130 70 0
25 3 130 75 0
25 3 131 25 0
25 3 132 11 0
25 3 131 1 0
25 3 131 28 0
25 3 132 15 0
25 3 131 6 0
25 3 130 91 0
9
25031300010000 2503130001 25031300110000 2503130011 25031300270000 2503130027 25031300290000 2503130029 25031300330000 2503130033 25031300060000 2503130006 25031300510000 2503130051 25031300460000 2503130046 25031300430000 2503130043 25031300390000 2503130039 25031300360000 2503130036 25031300990000 2503130099 25031300610000 2503130061 25031300770000 2503130077 25031300630000 2503130063 25031310140000 2503131014 25031310160000 2503131016 25031310180000 2503131018 25031320120000 2503132012 25031320020000 2503132002 25035000010000 2503500001 25031300650000 2503130065 25031300900000 2503130090 25031300860000 2503130086 25031300840000 2503130084 25031300160000 2503130016 25031300050000 2503130005 25031300530000 2503130053 25031300450000 2503130045 25031300420000 2503130042 25031300370000 2503130037 25031300080000 2503130008 25031150030000 2503115003 25031300710000 2503130071 25031300790000 2503130079 25031310130000 2503131013 25031310210000 2503131021 25031310220000 2503131022 25031310270000 2503131027 25031310080000 2503131008 25031310020000 2503131002 25031320160000 2503132016 25031310070000 2503131007 25031320080000 2503132008 25031320090000 2503132009 25031300640000 2503130064 25031300300000 2503130030 25031300340000 2503130034 25031300540000 2503130054 25031300520000 2503130052 25031150490000 2503115049 25031300090000 2503130009
25 3 130 1 0
25 3 130 11 0
25 3 130 27 0
25 3 130 29 0
25 3 130 33 0
25 3 130 6 0
25 3 130 51 0
25 3 130 46 0
25 3 130 43 0
25 3 130 39 0
25 3 130 36 0
25 3 130 99 0
25 3 130 61 0
25 3 130 77 0
25 3 130 63 0
25 3 131 14 0
25 3 131 ,16 0
25 3 131 18 0
25 3 132 12 0
25 3 132 2 0
25 3 500 1 0
25 3 130 65 0
25 3 130 90 0
25 3 130 86 0
25 3 130 84 0
25 3 130 16 0
25 3 130 5 0
25 3 '130 53 0
25 3 130 45 0
25 3 130 42 0
25 3 130 37 0
25 3 130 8 0
25 3 115 . 3 0
25 3 130 71 0
25 3 130 79 0
25 3 131 13 0
25 3 131 21 0
25 3 131 22 0
25 3 131 27 0
25 3 131 8 0
25 3 131 2 0
25 3 132 16 0
25 3 131 7 0
25 3 132 8 0
25 3 132 9 0
25 3 130 64 0
25 3 130 30 0
25 3 130 34 0
25 3 130 54 0
25 3 130 52 0
25 3 115 49 0
25 3 130 9 0
10
25031300830000 2503130083 25031150210000 2503115021 25031310150000 2503131015 25031310190000 2503131019 25031320030000 2503132003 25031320010000 2503132001 25031320140000 2503132014
25 3 130 83 0
25 3 115 21 0
25 3 131 15 0
25 3 131 19 0
25 3 132 3 0
25 3 132 1 0
25 3 132 14 0
11
dissolve the special tax allocation fund for the Area (the "Special Fund") and terminate the designation of the Area as a redevelopment project area as of December 31,2013; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
Section 1. The above recitals are incorporated herein and made a part hereof.
Section 2. The designation of the Area legally described on Exhibit A attached hereto and otherwise depicted on Exhibit B attached hereto shall be terminated as of December 31,2013. The list of parcels comprising the Area is attached hereto as Exhibit C.
Section 3. Notwithstanding Section 2 hereof, it is anticipated that the City will continue to receive incremental property taxes for assessment year 2012/collection year 2013. Accordingly, although the designation of the Area is repealed by Section 2' hereof, the City will continue to maintain the Special Fund for the limited purpose of receiving any remaining incremental property taxes for assessment year 2012/collection year 2013. Pursuant to the Act, upon receipt of such taxes, the City shall calculate and declare surplus revenue, and shall return surplus revenue to the Cook County Treasurer in a timely manner for redistribution to the local taxing districts that overlap the Area. Thereupon, the Special Fund shall be considered to be dissolved.
Section 4. The method of calculating and allocating property tax increment by the County of Cook pursuant to the Act for the parcels listed on Exhibit C shall be terminated from and after December 31, 2013.
Section 5. The Commissioner of the Department of Housing and Economic Development (the "Commissioner"), or a designee thereof, is authorized to execute any documents and take any steps necessary to terminate the designation of the Area pursuant to this Ordinance and the Act on behalf of the City, and the previous execution of any documents and the previous taking of any steps necessary to terminate the designation of the Area pursuant to the Act by the Commissioner, or a designee thereof, on behalf of the City are hereby ratified.
Section 6. This Ordinance shall be in full force and effect upon its passage.
Section 7. If any section, paragraph, clause or-'proyisjon of this Ordinance shall be held invalid, the invalidity of section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance.
Section 8. All ordinances (including but not limited to the three ordinances identified in the first recital hereof), resolutions or orders, or parts thereof;;in conflict with the provisions of this Ordinance are hereby repealed to the extent of their conflict
2