./
Department of Law ci ty of chicago
June 29, 2022
Office of the Chicago City Clerk
2022 JUN 29 ph3: 10
Ms. Anna M. Valencia City Clerk City of Chicago 121 North LaSalle Street Chicago, Illinois 60602
Re: Proposed Homan-Arthington Redevelopment Project Area Tax
Increment Financing Eligibility Study, Redevelopment Plan, and Project Amendment No. 3 dated June 29, 2022 (the "Amendment")
Dear Ms. Valencia:
I enclose the Amendment. Please make the Amendment available in your office as of this date for public inspection in accordance with the requirements of Section 5/1 l-74.4-5(a) of the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seg,., as amended. If you have any questions with respect to this matter, please contact me at 312-744-1745 or scott.fehlan@cityofchicago.org .
Chief Assistant Corporation Counsel
Enclosure
cc: Tim Jeffries, DPD
121 NORTH LASALLE STREET, ROOM 600. CHICAGO, ILLINOIS 60G02
Homan-Arthington Redevelopment Project Area
Tax Increment Financing Eligibility Study, Redevelopment Plan, and ProJ^^jJ^^J
Project and Plan Approved: February 5,1998
Amendment No. 1 Approved: November 19, 2014 Amendment No. 2 Approved: April 24, 2020
Amendment No. 3
June 29, 2022
City of Chicago Lori E. Lightfoot, Mayor
Department of Planning and Development Maurice D. Cox, Commissioner
i
Prepared for the: City of Chicago
By:
Camiros, Ltd.
|1010|EXECUTIVE SUMMARY
To induce redevelopment pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), the City Council (the "City Council) ofthe City of Chicago (the "City") adopted ordinances on February 5, 1998, approving the Homan-Arthington Redevelopment Project Area Tax Increment Financing Eligibility Study, Redevelopment Plan, and Project (the "Original Plan"), designating the Homan-Arthington Redevelopment Project Area (the "RPA") as a redevelopment project area under the Act, and adopting tax increment allocation financing for the RPA. On November 19, 2014, the City Council adopted an ordinance approving an amendment to the Original Plan ("Amendment No. 1"), and on April 24, 2020, the City Council adopted an ordinance approving an amendment to the Original Plan ("Amendment No. 2"). The Original Plan, as amended by Amendment No. 1 and Amendment No. 2, shall be known herein as the "Redevelopment Plan."
The Redevelopment Plan is now being amended further by this Amendment No. 3 to extend the estimated date of completion ofthe Redevelopment Plan, to update the budget to reflect an additional twelve years of incremental property taxes, to update the future land use plan to reflect the land use pattern resulting from the Redevelopment Plan and provide land use guidance through the extension period, and to update certain Redevelopment Plan language in accordance with the provisions ofthe Act.
There is no change proposed to the RPA boundary.
This Amendment No. 3 comprises the analyses and findings of Camiros, Ltd. (the "Consultant"), which work, unless otherwise noted, is the responsibility ofthe Consultant. The City is entitled to rely on the findings and conclusions of this Amendment No. 3 in amending the Redevelopment Plan under the Act. The Consultant has prepared this Amendment No. 3 with the understanding that the City would rely: 1) on the findings and conclusions of the Redevelopment Plan in proceeding with the adoption and implementation of this Amendment No. 3, and 2) on the fact that the Consultant has obtained the necessary information so that the Redevelopment Plan, as amended hereby, will comply with the Act.
|1010|MODIFICATIONS TO HOMAN-ARTHINGTON REDEVELOPMENT PROJECT AREA TAX INCREMENT FINANCING ELIGIBILITY STUDY, REDEVELOPMENT PLAN, AND PROJECT
The amendments to the Redevelopment Plan are presented Section by Section and follow the format of the Original Plan.
SECTION 1. EXECUTIVE SUMMARY
No changes to Section 1.
SECTION 2. INTRODUCTION
The following paragraph is hereby added to the beginning of Section 2.
This Plan Amendment summarizes the analyses and findings ofthe consultant's work, which, unless otherwise noted, is the responsibility of Camiros Ltd. (the "Consultant").
The Study Area
No changes to this subsection.
History of the Study Area
No changes to this subsection.
Current Conditions in the Study Area
No changes to this subsection.
SECTION 3. ELIGIBILITY ANALYSIS
No changes to Section 3.
SECTION 4. SUMMARY OF ELIGIBILITY FACTORS
No changes to Section 4.
SECTION 5. REDEVELOPMENT PROJECT AND PLAN Objectives
The introductory text is hereby deleted and replaced with the following:
Seven broad objectives support the broader overall goal of area-wide revitalization of the RPA and the surrounding North Lawndale neighborhood. These include:
The following text is added as the last bullet-point to this section on page 33:
• Provide new green spaces to help meet the needs of a growing population and supply outlets for families that encourage community engagement.
|1010|Redevelopment Plan Elements
On Page 36, sentence, "Proposed future land use is shown on Map 7" is hereby deleted. The following subsection is hereby added after the last paragraph of Section 5.
Future Land Use Plan
The Future Land Use Plan shown on Figure G, illustrates proposed land uses for the Redevelopment Project Area. Ultimately, the Redevelopment Plan should help foster a positive relationship between the Project Area and adjacent residential areas, allowing the Project Area to become an asset to the community.
The following land use categories shown on Figure G are described below:
Residential: This land use category includes areas which have experienced recent residential developments, both new single-family construction and renovation of historic buildings for multifamily housing. This category will also allow for residential uses where there is a demonstrated market demand for new residential development.
Mixed-Use: This land use category includes retail facilities, offices, light industrial and other complementary commercial and service uses. Residential uses may either be found on upper floors with retail or service on the ground floor or as free-standing multi-family that expand the commercial customer base.
Institutional/Public:This land use category includes a variety of public and institutional uses including schools, recreational and community centers health care, childcare, social services, and religious institutions that occupy significant sites within area.
Open Space: This land use category applies Park District and community open spaces, and to the future "rails with trails" Altenheim open space initiative adding a trail and related amenities to the existing rail corridor.
Parking: This land use category preserves the existing parking to serve as long-term parking for adjacent land uses.
SECTION 6. FINANCIAL PLAN
Section 6 is hereby deleted in its entirety and replaced with the following new Section 6. 6. REDEVELOPMENT PROJECT COSTS
The various redevelopment expenditures that are eligible for payment or reimbursement under the Act are reviewed below. Following this review is a list of estimated redevelopment project costs that are deemed to be necessary to implement this Plan (the "Redevelopment Project Costs.")
In the event the Act is amended after the date of the approval of this Plan by the City Council of Chicago to (a) include new eligible redevelopment project costs, or (b) expand the scope or increase the amount of existing eligible redevelopment project costs (such as, for example, by increasing the amount of incurred interest costs that may be paid under 65 ILCS 5/ll-74.4-3(q)(ll)), this Plan shall be deemed to incorporate such additional, expanded or increased eligible costs as Redevelopment
|1010|Project Costs under the Plan, to the extent permitted by the Act. In the event of such amendment(s) to the Act, the City may add any new eligible redevelopment project costs as a line item in Table 3, Estimated Redevelopment Project Costs, or otherwise adjust the line items in Table 3 without amendment to this Plan, to the extent permitted by the Act. In no instance, however, shall such additions or adjustments result in any increase in the total Redevelopment Project Costs without a further amendment to this Plan.
Eligible Redevelopment Costs
Redevelopment project costs include the sum total of all reasonable or necessary costs incurred, estimated to be incurred, or incidental to this Plan pursuant to the Act. Such costs may include, without limitation, the following:
Costs of studies, surveys, development of plans and specifications, implementation and administration of the redevelopment plan including but not limited to, staff and professional service costs for architectural, engineering, legal, financial, planning or other services (excluding lobbying expenses), provided that no charges for professional services are based on a percentage of the tax increment collected;
The cost of marketing sites within the Project Area to prospective businesses, developers and investors;
Property assembly costs, including but not limited to, acquisition of land and other property, real or personal, or rights or interests therein, demolition of buildings, site preparation, site improvements that serve as an engineered barrier addressing ground level or below ground environmental contamination, including, but not limited to parking lots and other concrete or asphalt barriers, and the clearing and grading of land;
Costs of rehabilitation, reconstruction or repair or remodeling of existing public or private buildings, fixtures, and leasehold improvements; and the cost of replacing an existing public building if pursuant to the implementation of a redevelopment project the existing public building is to be demolished to use the site for private investment or devoted to a different use requiring private investment; including any direct or indirect costs relating to Green Globes or LEED certified construction elements or construction elements with an equivalent certification;
Costs ofthe construction of public works or improvements including any direct or indirect costs relating to Green Globes or LEED certified construction elements or construction elements with an equivalent certification subject to the limitations in Section ll-74.4-3(q)(4) ofthe Act;
Costs of job training and retraining projects including the cost of "welfare to work" programs implemented by businesses located within the Project Area;
Financing costs including, but not limited to, all necessary and incidental expenses related to the issuance of obligations and which may include payment of interest on any obligations issued thereunder including interest accruing during the estimated period of construction of any redevelopment project for which such obligations are issued and for a period not exceeding 36 months following completion and including reasonable reserves related thereto;
To the extent the City by written agreement accepts and approves the same, all or a portion of a taxing district's capital costs resulting from the redevelopment project necessarily incurred or to be incurred within a taxing district in furtherance ofthe objectives ofthe redevelopment plan and project;
|1010|i) An elementary, secondary, or unit school district's increased costs attributable to assisted housing units will be reimbursed as provided in the Act;
j) Relocation costs to the extent that the City determines that relocation costs shall be paid or is required to make payment of relocation costs by federal or state law or by Section 74.4-3(n)(7) of the Act;
k) Payment in lieu of taxes, as defined in the Act;
I) Costs of job training, retraining, advanced vocational education or career education, including but not limited to, courses in occupational, semi-technical or technical fields leading directly to employment, incurred by one or more taxing districts, provided that such costs: (i) are related to the establishment and maintenance of additional job training, advanced vocational education or career education programs for persons employed or to be employed by employers located in the Project Area; and (ii) when incurred by a taxing district or taxing districts other than the City, are set forth in a written agreement by or among the City and the taxing district or taxing districts, which agreement describes the program to be undertaken including but not limited to, the number of employees to be trained, a description ofthe training and services to be provided, the number and type of positions available or to be available, itemized costs of the program and sources of funds to pay for the same, and the term of the agreement. Such costs include, specifically, the payment by community college districts of costs pursuant to Sections 3-37, 3-38, 3-40, and 3-40.1 ofthe Public Community College Act, 110 ILCS 805/3-37,805/3-38, 805/3-40 and 805/3-40.1, and by school districts of costs pursuant to Sections 10-22.20a and 10-23.3a of the School Code, 105 ILCS 5/10-22.20a and 5/10-23.3a;
m) Interest costs incurred by a redeveloper related to the construction, renovation or rehabilitation of a redevelopment project provided that:
such costs are to be paid directly from the special tax allocation fund established pursuant to the Act;
such payments in any one year may not exceed 30 percent ofthe annual interest costs incurred by the redeveloper with regard to the redevelopment project during that year;
if there are not sufficient funds available in the special tax allocation fund to make the payment pursuant to this provision, then the amounts so due shall accrue and be payable when sufficient funds are available in the special tax allocation fund;
the total of such interest payments paid pursuant to the Act may not exceed 30 percent of the total: (i) cost paid or incurred by the redeveloper for such redevelopment project, plus (ii) redevelopment project costs excluding any property assembly costs and any relocation costs incurred by the City pursuant to the Act; and
The cost limits set forth in paragraphs 2 and 4 above shall be modified to permit payment of up to 75 percent of the interest cost incurred by a redeveloper for the financing of rehabilitated or new housing units for low-income households and very low-income households, as defined in Section 3 of the Illinois Affordable Housing Act.
n) Instead ofthe eligible costs provided for in (m) 2,4 and 5 above, the City may pay up to 50 percent of the cost of construction, renovation and/or rehabilitation of all low- and very low-income housing units (for ownership or rental) as defined in Section 3 ofthe Illinois Affordable Housing Act. Ifthe units are part ofa residential redevelopment project that includes units not affordable
|1010|to low- and very low-income households, only the low- and very low-income units shall be eligible for benefits underthe Act;
o) The cost of daycare services for children of employees from low-income families working for businesses located within the Project Area and all or a portion ofthe cost of operation of day care centers established by Project Area businesses to serve employees from low-income families working in businesses located in the Project Area. For the purposes of this paragraph, "low-income families" means families whose annual income does not exceed 80 percent ofthe City, county or regional median income as determined from time to time by the United States Department of Housing and Urban Development;
p) Unless explicitly provided in the Act, the cost of construction of new privately-owned buildings shall not be an eligible redevelopment project cost;
q) If a special service area has been established pursuant to the Special Service Area Tax Act, 35 ILCS 235/0.01 et. seq. then any tax increment revenues derived from the tax imposed pursuant to the Special Service Area Tax Act may be used within the Project Area for the purposes permitted by the Special Service Area Tax Act as well as the purposes permitted by the Act.
|1010|Table 3: ESTIMATED REDEVELOPMENT PROJECT COSTS
Eligible Expense Estimated Costs
Analysis, Administration, Studies, Surveys, Legal, Marketing, etc. $700,000
Property Assembly including Acquisition, Site Preparation and Demolition, Environmental Remediation $5,500,000
Rehabilitation of Existing Buildings, Fixtures and Leasehold Improvements, Affordable Housing Construction and Rehabilitation Cost $17,500,000
Public Works and Improvements, including streets and utilities, parks and open space, public facilities (schools and other public facilities) a> $13,500,000
Relocation Costs $700,000
Job Training, Retraining, Welfare-to-Work $1,200,000
Day Care Services $1,500,000
Interest Subsidy $350,000
TOTAL REDEVELOPMENT PROJECT COSTS <2><3> $41,000,000(4)
This category may also include paying for or reimbursing (i) an elementary, secondary or unit school district's increased costs attributed to assisted housing units, and (ii) capital costs of taxing districts impacted by the redevelopment of the Project Area. As permitted by the Act, to the extent the City by written agreement accepts and approves the same, the City may pay, or reimburse all, or a portion of a taxing district's capital costs resulting from a redevelopment project necessarily incurred or to be incurred within a taxing district in furtherance of the objectives of the Plan.
Total Redevelopment Project Costs represent an upper limit on expenditures that are to be funded using tax increment revenues and exclude any additional financing costs, including any interest expense, capitalized interest and costs associated with optional redemptions. These costs are subject to prevailing market conditions and are in addition to Total Redevelopment Project Costs. Within this limit, adjustments may be made in line items without amendment to this Plan, to the extent permitted by the Act.
The amount ofthe Total Redevelopment Project Costs that can be incurred in the Project Area will be reduced by the amount of redevelopment project costs incurred in contiguous redevelopment project areas, or those separated from the Project Area only by a public right-or-way, that are permitted under the Act to be paid, and are paid, from incremental property taxes generated in the Project Area, but will not be reduced by the amount of redevelopment project costs incurred in the Project Area which are paid from incremental property taxes generated in contiguous redevelopment project areas or those separated from the Project Area only by a public right-of-way.
All costs are in 2022 dollars and may be increased by five percent (5%) after adjusting for inflation reflected in the Consumer Price Index (CPI) for All Urban Consumers for All Items for the Chicago-Gary-Kenosha, IL-IN-WI CMSA, published by the U.S. Department of Labor.
Additional funding from other sources such as federal, state, county, or local grant funds may be utilized to supplement the City's ability to finance Redevelopment Project Costs identified above.
|10 10|Phasing and Scheduling ofthe Redevelopment
The initiator of each project shall be required to submit a current schedule for implementation, which shall be revised as necessary. If tax increment funds are used to pay eligible redevelopment project costs, to the extent funds are available for such purposes, expenditures by the city shall be coordinated to coincide on a reasonable basis with the actual redevelopment expenditures of the developer(s).
Sources of Funds to Pay Redevelopment Project Costs
Funds necessary to pay for Redevelopment Project Costs and secure municipal obligations issued for such costs are to be derived primarily from Incremental Property Taxes. Other sources of funds which may be used to pay for Redevelopment Project Costs or secure municipal obligations are land disposition proceeds, state and federal grants, investment income, private financing and other legally permissible funds the City may deem appropriate. The City may incur redevelopment project costs which are paid for from funds of the City other than incremental taxes, and the City may then be reimbursed from such costs from incremental taxes. Also, the City may permit the utilization of guarantees, deposits and other forms of security made available by private sector developers. Additionally, the City may utilize revenues, other than State sales tax increment revenues, received under the Act from one redevelopment project area for eligible costs in another redevelopment project area that is either contiguous to, or is separated only by a public right-of-way from, the redevelopment project area from which the revenues are received.
The Project Area may be contiguous to or separated by only a public right-of-way from other redevelopment project areas created under the Act. The City may utilize net incremental property taxes received from the Project Area to pay eligible redevelopment project costs, or obligations issued to pay such costs, in other contiguous redevelopment project areas or project areas separated only by a public right-of-way, and vice versa. The amount of revenue from the Project Area, made available to support such contiguous redevelopment project areas, or those separated only by a public right-of-way, when added to all amounts used to pay eligible Redevelopment Project Costs within the Project Area, shall not at any time exceed the total Redevelopment Project Costs described in this Plan.
The Project Area may become contiguous to, or be separated only by a public right-of-way from, redevelopment project areas created under the Industrial Jobs Recovery Law (65 ILCS 5/11-74.6-1, et seq.). If the City finds that the goals, objectives and financial success of such contiguous redevelopment project areas or those separated only by a public right-of-way are interdependent with those ofthe Project Area, the City may determine that it is in the best interests ofthe City and the furtherance ofthe purposes ofthe Plan that net revenues from the Project Area be made available to support any such redevelopment project areas, and vice versa. The City therefore proposes to utilize net incremental revenues received from the Project Area to pay eligible redevelopment project costs (which are eligible under the Industrial Jobs Recovery Law referred to above) in any such areas and vice versa. Such revenues may be transferred or loaned between the Project Area and such areas. The amount of revenue from the Project Area so made available, when added to all amounts used to pay eligible Redevelopment Project Costs within the Project Area or other areas as described in the preceding paragraph, shall not at any time exceed the total Redevelopment Project Costs described in this Plan.
10
Issuance of Obligations
The City may issue obligations secured by Incremental Property Taxes pursuant to Section 11-74.4-7 of the Act. To enhance the security of a municipal obligation, the City may pledge its full faith and credit through the issuance of general obligations bonds. Additionally, the City may provide other legally permissible credit enhancements to any obligations issued pursuant to the Act.
The redevelopment project shall be completed, and all obligations issued to finance redevelopment costs shall be retired, no later than December 31 of the year in which the payment to the City treasurer as provided in the Act is to be made with respect to ad valorem taxes levied in the thirty-fifth calendar year following the year in which the ordinance approving the Project Area was adopted, such ultimate completion and retirement date occurring on December 31, 2034.
Also, the final maturity date of any such obligations which are issued may not be later than 20 years from their respective dates of issue. One or more series of obligations may be sold at one or more times in order to implement this Plan. Obligations may be issued on a parity or subordinated basis.
In addition to paying Redevelopment Project Costs, Incremental Property Taxes may be used for the scheduled retirement of obligations, mandatory or optional redemptions, establishment of debt service reserves and bond sinking funds. To the extent that Incremental Property Taxes are not needed for these purposes, and are not otherwise required, pledged, earmarked or otherwise designated for the payment of Redevelopment Project Costs, any excess Incremental Property Taxes shall then become available for distribution annually to taxing districts having jurisdiction over the Project Area in the manner provided by the Act.
Initial Equalized Assessed Valuation of Properties in the Redevelopment Project Area
The purpose of identifying the initial equalized assessed valuation ("EAV") of the redevelopment project area was to provide an estimate of the initial EAV which the Cook County Clerk certified for the purpose of annually calculating the incremental EAV and incremental property taxes of the RPA. The total 1995 EAV for the entire redevelopment area was approximately $4,801,927. The 1995 EAV, by PIN, is summarized in Appendix 2.
Anticipated Equalized Assessed Valuation
Once the project has been completed and the property is fully assessed, the equalized assessed valuation (EAV) of real property within the Project Area is estimated at $36,000,000. This estimate has been calculated assuming that the Project Area will be developed in accordance with amended general land-use plan described in and FIGURE G - FUTURE LAND USE PLAN. The EAV assumes that the assessed value of property within the Project Area will increase substantially as a result of new development within the Project Area.
Site Assembly
To meet the goals and objectives ofthis Plan, the City may acquire and assemble property throughout the Project Area. Land assemblage by the City may be by purchase, exchange, donation, lease, eminent domain or through the Tax Reactivation Program and may be for the purpose of (a) sale, lease or conveyance to private developers, or (b) sale, lease, conveyance or dedication for the construction of public improvements or facilities. Furthermore, the City may require written redevelopment agreements with developers before acquiring any properties. As appropriate, the City may devote acquired property to temporary uses until such property is scheduled for disposition and development.
ll
In connection with the City exercising its power to acquire real property, including the exercise ofthe power of eminent domain, under the Act in implementing the Plan, the City will follow its customary procedures of having each such acquisition recommended by the Community Development Commission (or any successor commission) and authorized by the City Council ofthe City. Acquisition of such real property as may be authorized by the City Council does not constitute a change in the nature ofthis Plan.
Relocation
Relocation assistance may be provided in order to facilitate redevelopment of portions ofthe Project Area, and to meet the other City objectives. Businesses or households legally occupying properties to be acquired by the City may be provided with relocation advisory and financial assistance as determined by the City.
Affordable Housing
The City requires that developers who receive TIF assistance for market rate housing set aside 20 percent of the units to meet affordability criteria established by the City's Department of Planning and Development or any successor agency. Generally, this means the affordable for-sale units should be priced at a level that is affordable to persons earning no more than 100 percent ofthe area median income, and affordable rental units should be affordable to persons earning no more than 60 percent ofthe area median income.
Intergovernmental Agreements and Redevelopment Agreements
The City may enter into redevelopment agreements or intergovernmental agreements with private entities or public entities to construct, rehabilitate, renovate or restore private or public improvements on one or several parcels (collectively referred to as "Redevelopment Projects").
SECTION 7. REQUIRED FINDINGS AND TESTS
Lack of Growth and Private Investment
No changes to this subsection.
But for..
No changes to this subsection.
Conformance to the Plans ofthe Municipality
No changes to this subsection.
Dates of Completion
The text in this subsection shall hereby be deleted and replaced with the following:
The redevelopment project shall be completed, and all obligations issued to finance redevelopment costs shall be retired, no later than December 31 ofthe year in which the payment to the City treasurer as provided in the Act is to be made with respect to ad valorem taxes levied in the thirty-fifth calendar
12
year following the year in which the ordinance approving the RPA was adopted, such ultimate completion and retirement date occurring on December 31, 2034.
Financial Impact ofthe Redevelopment Project
The third paragraph in this subsection shall hereby be deleted and replaced with the following:
The Act requires an assessment of any financial impact of the Project Area on, or any increased demand for services from, any taxing district affected by the Plan and a description of any program to address such financial impacts or increased demand. The City intends to monitor development in the Project Area and with the cooperation ofthe other affected taxing districts will attempt to ensure that any increased needs are addressed in connection with any particular development.
Demand on Taxing District Services
No changes to this subsection.
Program to Address Financial and Service Impact
No changes to this subsection.
SECTION 8. PROVISIONS FOR AMENDING ACTION PLAN
No changes to this Section.
SECTION 9. COMMITMENT TO FAIR EMPLOYMENT PRACTICES AND AFFIRMATIVE ACTION PLAN
The text ofthis Section shall be deleted in its entirety and replaced with the following.
The City is committed to and will affirmatively implement the following principles with respect to this Plan:
The assurance of equal opportunity in all personnel and employment actions, with respect to the Redevelopment Project, including, but not limited to hiring, training, transfer, promotion, discipline, fringe benefits, salary, employment working conditions, termination, etc., without regard to race, color, sex, age, religion, disability, national origin, ancestry, sexual orientation, marital status, parental status, military discharge status, source of income, or housing status.
Redevelopers must meet the City's standards for participation of 26 percent Minority Business Enterprises and 6 percent Woman Business Enterprises and the City Resident Construction Worker Employment Requirement as required in redevelopment agreements.
This commitment to affirmative action and nondiscrimination will ensure that all members of the protected groups are sought out to compete for all job openings and promotional opportunities.
Redevelopers will meet City standards for any applicable prevailing wage rate as ascertained by the Illinois Department of Labor to all project employees.
The City shall have the right in its sole discretion to exempt certain small businesses, residential property owners and developers from the above.
13
Following Section 9, a new Section 10 is inserted as follows: SECTION 10. HOUSING IMPACT
As set forth in the Act, ifthe redevelopment plan for a redevelopment project area would result in the displacement of residents from 10 or more inhabited residential units, or ifthe redevelopment project area contains 75 or more inhabited residential units and a municipality is unable to certify that no displacement will occur, the municipality must prepare a housing impact study to be incorporated in the Redevelopment Plan and Project.
The Project Area contains 458 inhabited residential units. The Plan does not call for the redevelopment of occupied residential units. As a result, the City hereby certifies that the displacement of residents from 10 or more inhabited residential units will not occur.
APPENDIXES
Appendix 1 Boundary Legal Description
No changes
Appendix 2 PINS
No changes
After Appendix 2, a new Appendix shall be inserted as follows: Appendix 3 - CERTIFIED INITIAL EQUALIZED ASSESSED VALUATION
This Appendix shall consist ofa copy ofthe most recent available Cook County Clerk's Certified Initial EAV report, which shows each Parcel Identification Number (PIN) in the Project Area, as of assessment year 2021, and the Certified Initial EAV for each PIN.
EXHIBIT 1 - 2021 EQUALIZED ASSESSED VALUE
CHANGES TO MAPS
MAP 7 - FUTURE LAND USE is deleted and replaced with the new figure entitled "FIGURE G - FUTURE LAND USE PLAN"
No other maps of the Original Plan are changed but one new figure is added to illustrate the existing conditions. This figure is entitled:
FIGURE C- EXISTING LAND USE MAP
14
Appendix 3
Certified Initial Equalized Assessed Valuation
Homan-Arthington TIF District Amendment No. 3 Draft 1-June 2022
STATE OF ILLINOIS COUNTY OF COOK
J
JSS )
CERTIFICATE OF INITIAL EQUALIZED ASSESSED VALUATION
I, KAREN A. YARBROUGH, do hereby certify that I am the duly qualified and acting Clerk of the County of Cook in the State of Illinois. As such Clerk and pursuant to Section 11-74.4-9 of the Real Property Tax Increment Allocation Redevelopment Act (Illinois Revised Statutes, Chap. 24) I do further:
CERTIFY THAT on August 14,1998 the Office of the Cook County Clerk received certified copies of the following Ordinances adopted by the City of Chicago, Cook County, Illinois on February 5,1998:
Ordinance. "Approving and Adopting a Redevelopment Plan and Project for the Homan/Arthington;"
Ordinance. "Designating the Homan/Arthington Redevelopment Project Area as a Redevelopment Project Area Pursuant to the Tax Increment Allocation Redevelopment Act;" and
Ordinance. "Adopting Tax Increment Allocation Financing for the Homan/Arthington Redevelopment Tax Increment Financing Project."
CERTIFY THAT the area constituting the Tax Increment Redevelopment Project Area subject to Tax Increment Financing in the City of Chicago, Cook County, Illinois, is legally described in said Ordinances.
CERTIFY THAT the initial equalized assessed value of each lot, block, and parcel of real property within the said City of Chicago Project Area as of February 5,1998 is as set forth in the document attached hereto and made a part hereof as Exhibit "A";
CERTIFY THAT the total initial equalized assessed value of all taxable real property situated within the said City of Chicago Tax Increment Redevelopment Project Area is:
TAX CODE AREA 77105 $2,658,362
for a total of
TWO MILLION, SIX HUNDRED FIFTY-EIGHT THOUSAND, THREE HUNDRED SIXTY-TWO DOLLARS AND NO CENTS
($ 2,658,362.)
such total initial equalized assessed value as of February 5, 1998, having been computed and ascertained from the official records on file in my office and as set forth in Exhibit "A".
IN WITNESS WHEREOF, I have hereunto affixed my signature and the corporate seal of COOK COUNTY this 8th day of March 2022.
County Clerk
c.\extensio\tifs\t;if98-15
1CLRTM369 PAGE NO. 1
ODATE 03/08/2022 AGENCY: 03-0210-554 TIF CITY OF CHICAGO-HOMAN AVE/ARTHINGTON ST|10 9|PERMANENT REAL ESTATE INDEX NUMBER 1996 EQUALIZED
ASSESSED VALUATION
OF EACH LOT, BLOCK, TRACT OR PARCEL OF EACH LOT, BLOCK,
TRACT OR PARCEL
REAL ESTATE PROPERTY WITHIN SUCH WITHIN SUCH PROJECT
AREA:
PROJECT AREA:|10 9|16-14-316-031-0000 17,629|10 9|16-14-316-032-0000 7,032|10 9|16-14-316-033-0000 7,032|10 9|16-14-316-034-0000 7,032|10 9|16-14-316-035-0000 7,032|10 9|16-14-316-036-0000 7,033|10 9|16-14-316-037-0000 7,033|10 9|16-14-321-010-0000 19,669|10 9|16-14-321-011-0000 92,233|10 9|16-14-321-012-0000 25,820|10 9|16-14-322-012-0000 15,849|10 9|16-14-322-013-0000 8,56.0|10 9|16-14-322-014-0000 8,560|10 9|16-14-322-015-0000 8,560|10 9|16-14-322-016-0000 , 8,560|10 9|16-14-322-017-0000 ' 8,560|10 9|16-14-322-018-0000 8,561|10 9|16-14-412-003-0000 2,862|10 9|16-14-412-004-0000 2,862|10 9|16-14-412-005-0000 2,862|10 9|16-14-412-006-0000 2,862|10 9|16-14-412-007-0000 . 2,862
0- 16-14-412-008-0000 2,862|10 9|16-14-412-009-0000 2,862|10 9|16-14-412-010-0000 2,862|10 9|16-14-412-011-0000 2,862|10 9|16-14-412-012-0000 2,862
1CLRTM369
PAGE NO.|910|ODATE 03/08/2022 AGENCY: 03-0210-554 TIF CITY OF CHICAGO-HOMAN AVE/ARTHINGTON ST|10 9|PERMANENT REAL ESTATE INDEX NUMBER 1996 EQUALIZED
ASSESSED VALUATION
OF EACH LOT, BLOCK, TRACT OR PARCEL OF EACH LOT, BLOCK,
TRACT OR PARCEL
REAL ESTATE PROPERTY WITHIN SUCH WITHIN SUCH PROJECT
AREA:
PROJECT AREA:|10 9|16-14-412-013-0000 2,862|10 9|16-14-412-014-0000 2,862|10 9|16-14-412-015-0000 2,862|10 9|16-14-412-016-0000 2,862|10 9|16-14-412-017-0000 2,862
|10 9|16-14-412-018-0000 2,862|10 9|16-14-412-019-0000 2,862|10 9|16-14-412-020-0000 2,862|10 9|16-14-412-021-0000 2,862|10 9|16-14-412-022-0000 2,862|10 9|16-14-412-023-0000 2,863|10 9|16-14-412-024-0000 2,863|10 9|16-14-412-025-0000 2,863|10 9|16-14-412-026-0000 2,863|10 9|16-14-412-027-0000 2,863|10 9|16-14-412-035-0000 2,863|10 9|16-14-412-036-0000' 2,863|10 9|16-14-412-037-0000 2,863|10 9|16-14-412-038-0000 2,863|10 9|16-14-412-039-0000 2,863|10 9|16-14-412-040-0000 2,863|10 9|16-14-412-041-0000 2,863|10 9|16-14-412-042-0000 2,863|10 9|16-14-412-043-0000 2,863|10 9|16-14-412-044-0000 2,863|10 9|16-14-412-052-0000 2,863|10 9|16-14-412-053-0000 2,863
1CLRTM369
PAGE NO. 3
ODATE 03/08/2022 AGENCY: 03-0210-554 TIF CITY OF CHICAGO-HOMAN AVE/ARTHINGTON ST|10 9|PERMANENT REAL ESTATE INDEX NUMBER 1996 EQUALIZED
ASSESSED VALUATION
OF EACH LOT, BLOCK, TRACT OR PARCEL OF EACH LOT, BLOCK,
TRACT OR PARCEL
REAL ESTATE PROPERTY WITHIN SUCH WITHIN SUCH PROJECT
AREA:
PROJECT AREA:|10 9|16-14-412-054-0000 2,863|10 9|16-14-412-055-0000 2,863|10 9|16-14-412-056-0000 2,863|10 9|16-14-412-057-0000 2,863|10 9|16-14-412-058-0000 2,863|10 9|16-14-412-059-0000 2,863|10 9|16-14-412-060-0000 2,863|10 9|16-14-412-061-0000 2,863|10 9|16-14-412-062-0000 2,863|10 9|16-14-412-063-0000 2,863|10 9|16-14-412-064-0000 2,863|10 9|16-14-412-065-0000 2,863|10 9|16-14-412-066-0000 2,863|10 9|16-14-412-067-0000 2,863|10 9|16-14-412-068-0000 2,863|10 9|16-14-412-069-0000 2,863|10 9|16-14-412-070-0000 2,863|10 9|16-14-412-071-0000 2,863|10 9|16-14-412-072-0000 2,863|10 9|16-14-413-049-0000 1,057|10 9|16-14-413-050-0000 1,057
0 16-14-413-051-0000 0 16-14-413-052-0000 0 16-14-413-053-0000 0 16-14-413-054-0000 0 16-14-413-055-0000 0 16-14-413-056-0000 1CLRTM369 PAGE NO. 4 ODATE 03/08/2022 AVE/ARTHINGTON ST|10 9|PERMANENT REAL ESTATE INDEX NUMBER
ASSESSED VALUATION
OF EACH LOT, BLOCK, TRACT OR PARCEL TRACT OR PARCEL
REAL ESTATE PROPERTY WITHIN SUCH
AREA:
PROJECT AREA:
0 16-14-413-057-0000
0 16-14-413-058-0000
0 16-14-413-059-0000
0 16-14-413-060-0000
0 16-14-413-061-0000
0 16-14-413-062-0000
0 16-14-413-063-0000
0 16-14-413-064-0000
0 16-14-413-065-0000
0 16-14-413-066-0000
0 16-14-413-067-0000
0 16-14-414-024-0000
0 16-14-415-021-0000|10 9|t 16-14-415-024-0000|10 9|' 16-14-416-007-0000
0 16-14-416-008-0000
0 16-14-416-009-0000
0 . 16-14-416-010-0000|10 9|' 16-14-416-011-0000
0 16-14-416-012-0000 0 16-14-416-013-0000 0 16-14-416-014-0000 0 16-14-416-015-0000 0 16-14-417-004-0000 0 16-14-417-005-0000 0 16-14-417-007-0000 0 16-14-417-008-0000 1CLRTM369 PAGE NO. 5
ODATE 03/08/2022 AGENCY: 03-0210-554 TIF CI1 AVE/ARTHINGTON ST|10 9|PERMANENT REAL ESTATE INDEX NUMBER
ASSESSED VALUATION
OF EACH LOT, BLOCK, TRACT OR PARCEL TRACT OR PARCEL
REAL ESTATE PROPERTY WITHIN SUCH
AREA:
1, 057 1, 057 1, 057 1, 057 1, 057 1, 057
OF CHICAGO-HOMAN 1996 EQUALIZED OF EACH LOT, BLOCK, WITHIN SUCH PROJECT
1, 057 1, 057 1, 057 1, 057 1, 057 1, 058 1, 058 1, 058 1, 058 1, 058 1, 058 70,634 153,814 0
16,573 12,951|10 10|13,044 237,016 362,361
8, 580 131,018
8, 380 266,602 266,602 194,787
5, 969
OF CHICAGO-HOMAN 1996 EQUALIZED OF EACH LOT, BLOCK, WITHIN SUCH PROJECT
PROJECT AREA:|10 9|16-14-417-009-0000 341,515|10 9|16-14-417-010-0000 66,257|10 9|16-14-417-011-0000 12,855|10 9|16-14-418-001-0000|9 10 9|16-14-419-001-0000 24,078|10 9|16-14-419-002-0000 17,435|10 9|16-14-420-001-0000|9 10 9|16-14-421-010-0000|9 10 9|16-14-421-011-0000 2,739|10 9|16-14-421-013-0000|9 10 9|16-14-501-003-0000|9 10 9|16-14-501-004-0000|9 10|TOTAL INITIAL EAV FOR TAXCODE: 77105 TOTAL PRINTED: 120
EXHIBIT 1 2021 Equalized Assessed Valuation
Exhibit 1 contains the most recent 2021 equalized assessed valuations for all PIN's within the Homan-Arthington TIF District. The total estimated equalized assessed valuation for the Project Area is $57,495,492. This figure is subject to verification when certified by the City Clerk.
Exhibit 2: 2021 Equalized Assessed Valuation
PIN AV 2021 Equalization Factor 2020 Equalized Accessed Value
16143160310000 $0 3.2234 $0
16143160320000 $167,508 3.2234 $539,945
16143160330000 $167,508 3.2234 $539,945
16143160340000 $167,508 3.2234 $539,945
16143160350000 $57,114 3.2234 $184,101
16143160360000 $90,240 3.2234 $290,880
16143160370000 $93,060 3.2234 $299,970
16143210100000 $568,512 3.2234 $1,832,542
16143210110000 $0 3.2234 $0
16143210120000 $0 3.2234 $0
16143220120000 $0 3.2234 $0
16143220130000 $167,508 3.2234 $539,945
16143220140000 $167,508 3.2234 $539,945
16143220150000 $167,508 3.2234 $539,945
16143220160000 $62,991 3.2234 $203,045
16143220170000 $124,080 3.2234 $399,959
16143220180000 $93,060 3.2234 $299,970
16144120030000 $21,000 3.2234 $67,691
16144120040000 $25,000 3.2234 $80,585
16144120050000 $22,000 3.2234 $70,915
16144120060000 $20,000 3.2234 $64,468
16144120070000 $19,000 3.2234 $61,245
16144120080000 $23,000 3.2234 $74,138
16144120090000 $22,000 3.2234 $70,915
16144120100000 $21,000 3.2234 $67,691
16144120110000 $25,000 3.2234 $80,585
16144120120000 $25,000 3.2234 $80,585
16144120130000 $24,001 3.2234 $77,365
16144120140000 $24,001 3.2234 $77,365
16144120150000 $24,001 3.2234 $77,365
16144120160000 $22,001 3.2234 $70,918
16144120170000 $24,001 3.2234 $77,365
16144120180000 $24,001 3.2234 $77,365
16144120190000 $21,001 3.2234 $67,695
16144120200000 $20,001 3.2234 $64,471
16144120210000 $15,000 3.2234 $48,351
16144120220000 $15,000 3.2234 $48,351
16144120230000 $15,000 3.2234 $48,351
16144120240000 $15,000 3.2234 $48,351
16144120250000 $15,000 3.2234 $48,351
16144120260000 $15,000 3.2234 $48,351
16144120270000 $15,000 3.2234 $48,351
16144120350000 $21,000 3.2234 $67,691
16144120360000 $15,000 3.2234 $48,351
16144120370000 $20,000 3.2234 $64,468
16144120380000 $22,000 3.2234 $70,915
16144120390000 $25,000 3.2234 $80,585
16144120400000 $21,000 3.2234 $67,691
16144120410000 $23,000 3.2234 $74,138
16144120420000 $22,000 3.2234 $70,915
16144120430000 $21,000 3.2234 $67,691
16144120440000 $21,000 3.2234 $67,691
16144120520000 $15,000 3.2234 $48,351
16144120530000 $15,000 3.2234 $48,351
16144120540000 $15,000 3.2234 $48,351
16144120550000 $15,000 3.2234 $48,351
16144120560000 $15,000 3.2234 $48,351
16144120570000 $15,000 3.2234 $48,351
16144120580000 $15,000 3.2234 $48,351
16144120590000 $1 3.2234 $3
16144120600000 $1 3.2234 $3
16144120610000 $14,000 3.2234 $45,128
16144120620000 $19,000 3.2234 $61,245
16144120630000 $14,000 3.2234 $45,128
16144120640000 $19,000 3.2234 $61,245
16144120650000 $19,000 3.2234 $61,245
16144120660000 $14,000 3.2234 $45,128
16144120670000 $19,000 3.2234 $61,245
16144120680000 $15,000 3.2234 $48,351
16144120690000 $19,000 3.2234 $61,245
16144120700000 $19,000 3.2234 $61,245
16144120710000 $19,000 3.2234 $61,245
16144120720000 $18,202 3.2234 $58,672
16144130490000 $20,000 3.2234 $64,468
16144130500000 $21,000 3.2234 $67,691
16144130510000 $20,000 3.2234 $64,468
16144130520000 $16,000 3.2234 $51,574
16144130530000 $15,000 3.2234 $48,351
16144130540000 $16,000 3.2234 $51,574
16144130550000 $16,000 3.2234 $51,574
16144130560000 $15,000 3.2234 $48,351
16144130570000 $16,000 3.2234 $51,574
16144130580000 $16,000 3.2234 $51,574
16144130590000 $16,000 3.2234 $51,574
16144130600000 $16,000 3.2234 $51,574
16144130610000 $16,000 3.2234 $51,574
16144130620000 $21,000 3.2234 $67,691
16144130630000 $20,000 3.2234 $64,468
16144130640000 $21,000 3.2234 $67,691
16144130650000 $1 3.2234 $3
16144130660000 $1 3.2234 $3
16144130670000 $1 3.2234 $3
16144140240000 $225 3.2234 $725
16144150210000 $686,884 3.2234 $2,214,102
16144150240000 $0 3.2234 $0
16144160070000 $0 3.2234 $0
16144160080000 $0 3.2234 $0
16144160090000 $0 3.2234 $0
16144160100000 $0 3.2234 $0
16144160110000 $0 3.2234 $0
16144160120000 $0 3.2234 $0
16144160130000 $0 3.2234 $0
16144160140000 $1,014,388 3.2234 $3,269,778
16144160150000 $102,054 3.2234 $328,961
16144170040000 $5,317,206 3.2234 $17,139,482
16144170050000 $157,631 3.2234 $508,108
16144170070000 $5,490,477 3.2234 $17,698,004
16144170080000 $56,954 3.2234 $183,586
16144170090000 $1,574,106 3.2234 $5,073,973
16144170100000 $0 3.2234 $0
16144170110000 $23,045 3.2234 $74,283
16144180010000 $0 3.2234 $0
16144190010000 $0 3.2234 $0
16144190020000 $0 3.2234 $0
16144200010000 $0 3.2234 $0
16144210100000 $0 3.2234 $0
16144210110000 $3,619 3.2234 $11,665
16144210130000 $0 3.2234 $0
16145010030000 $0 3.2234 $0
16145010040000 $0 3.2234 $0
$17,836,909 $57,495,492
COMMERCIAL RESIDENTIAL
»l VACANT
SjgsS INSTITUTIONAL/PUBLIC
OPEN SPACE £ j PROJECT AREA BOUNDARY
PARKING | | PARCELS
-. ,;:,--| TRANSPORTATION
FIGURE C:
EXISTING LAND USE MAP
HOMAN ARTHINGTON TIF DISTRICT AMENDMENT; CITY OF CHICAGO
1000 FEET N
MIXED-USE RESIDENTIAL
r t
L J
PROJECT AREA BOUNDARY PARCELS
OPEN SPACE TRANSPORTATION
V? PARKING
FIGURE G:
FUTURE LAND USE PLAN
HOMAN ARTHINGTON TIF DISTRICT AMENDMENT; CITY OF CHICAGO