S:\SHARED\Finance\47"'and Halsted TIF Amendmentord 1.doc
ORDINANCE
WHEREAS, under ordinances adopted on May 29, 2002, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 85676 to 85904, 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"): 0) approved a redevelopment plan and project (the "Plan") for a portion of the City known as the "47th and Halsted Redevelopment Project Area" (the "Area"); (ii) designated the Area as a "redevelopment project area" within the requirements of the Act; and (iii) adopted tax increment financing for the Area (the foregoing three ordinances are collectively referred to herein as the "TIF Ordinances"); and
WHEREAS, Public Act 92-263, which became effective on August 7,2001, amended the Act to provide that, under Section 11-74.4-5(c) of the Act, amendments to a redevelopment plan which do not (1) add additional parcels of property to the proposed redevelopment project area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project cost set out in the redevelopment plan by more than 5% after adjustment for inflation from the date the plan was adopted, (5) add additional redevelopment project costs to the itemized list of redevelopment project costs set out in the redevelopment plan, or (6) increase the number of inhabited residential units to be displaced from the redevelopment project area, as measured from the time of creation of the redevelopment project area, to a total of more than 10, may be made without further hearing, provided that notice is given as set forth in the Act as amended; and
WHEREAS, the Corporate Authorities now desire to amend the Plan to amend the map of the Generalized Land Use Plan to change the proposed land use for certain parcels, which such amendment shall not (1) add additional parcels of property to the proposed redevelopment project area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project cost set out in the redevelopment plan by more than 5% after adjustment for inflation from the date the plan was adopted, (5) add additional redevelopment project costs to the itemized list of redevelopment project costs set out inthe redevelopment plan, or (6) increase the number of inhabited residential units to be displaced from the redevelopment project area, as measured from the time of creation of the redevelopment project area; to a total of more than 10
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. Recitals. The above recitals are incorporated herein and made a part hereof.
SECTION 2. Approval of Amendment Number 1 to the Plan. The amendment of the Plan to change the proposed land use for parcels located along the north and south sides of West Garfield Boulevard, generally between Normal and Stewart Avenues, from residential/institutional to industrial is hereby approved. Exhibit C to the Plan, "Generalized Land Use Plan" is hereby replaced in its entirety with Exhibit C, "Revised Generalized Land Use Plan," a copy of which is attached hereto as Exhibit 1. Except as amended hereby, the Plan shall remain in full force and effect.
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SECTION 3. Invalidity of Any Section. If any provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such provision shall not affect any of the remaining provisions of this ordinance.
SECTION 4. Supersedes All ordinances (including, without limitation, the TIF Ordinances),
resolutions, motions or orders in conflict with this ordinance are hereby repealed to the extent of
such conflicts. *; ■
SECTION 5. Effective Date. This ordinance shall be in full force and effect immediately upon its passage.
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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
October 16,2013
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 amending the land use map for the 47th / Halsted TIF Area.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
CHICAGO November 13.2013
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
An ordinance, along with the amended cover letter, approving Amendment #1 to the 47,h/Halsted Tax Increment Financing Redevelopment Plan and Project.
02013-8110
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 votej)
of members of the committee with dissenting vote(sJ^
Respectfully submitted