WHEREAS, Chapter 16-14 of the Municipal Code of Chicago, as amended (the "Municipal Code") contains the Neighborhoods Opportunity Fund Ordinance (the "Ordinance") establishing the Neighborhoods Opportunity Fund (the "NOF"); and
WHEREAS, Section 16-14-080 of the Municipal Code authorizes the Department of Planning and Development ("DPD") of the City of Chicago (the "City") to administer the NOF and all projects funded under the Ordinance, including (a) disbursing individual grants for development projects described in the Ordinance in the amount of $250,000.00 or less (collectively, the "Group I Grants"), subject to periodic authorization by the City Council of the City (the "City Council") of program funding limits; and (b) disbursing individual grants for development projects described in the Ordinance exceeding $250,000.00 per grant, to the extent each such grant is approved by the City Council (collectively, the "Group II Grants"); and
WHEREAS, pursuant to an ordinance adopted by the City Council on April 19, 2017 and published at pages 46773 through 46774 in the Journal of the Proceedings of the City Council of such date, the City Council authorized an initial program funding limit (the "Funding Limit") for the Group I Grants; and
WHEREAS, the City Council desires to increase the Funding Limit; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The above recitals are expressly incorporated in and made a part of this ordinance as though fully set forth herein.
SECTION 2. Subsection 16-14-080(a) of the Municipal Code of Chicago is hereby amended by inserting the language underscored, as follows:
16-14-080 Administration.
(a) The department shall administer the Neighborhoods Opportunity Fund and all projects funded under this chapter. Any grant of funds for a private project in an aggregate amount in excess of $250,000.00 shall require city council approval. The department may disburse individual grants in the amount of $250,000.00 or less through procedures established by rule, subject to periodic city council authorization of program funding limits^ provided, that at the request of the department, such grants may be disbursed by the Commissioner of Business Affairs and Consumer Protection. The selection of projects will be informed by community-based planning processes, such as Chicago Neighborhoods Now. Priority will be given to commercial projects that:
(Omitted text is unaffected by this ordinance)
SECTION 3. Subject to the availability of funds in the NOF, the Funding Limit shall be increased by $3,500;000, to a total of $6,500,000; provided, however, that upon the request of
DPD, the City Council may increase the Funding Limit in the future to enable DPD to disburse additional Group I Grants.
SECTION 4. To the extent that any ordinance, resolution, rule, order or provision of the Municipal Code, or part thereof, is in conflict with the provisions of this ordinance, the provisions of this ordinance shall control. If any section, paragraph, clause or provision of this ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this ordinance.
SECTION 5. This ordinance shall be in full force and effect immediately upon its passage and approval.
CHICAGO, September 6, 2017
To the President and Members of the City Council:
Your Committee on the Budget and Government Operations, having had under consideration an Ordinance authorizing an increase in the program funding limit for the Neighborhood Opportunity Fund, and having been presented with s proposed Substitute Ordinance by the Office of Budget and Management; and having had the same under advisement, begs leave to report and recommend that Your Honorable Body pass the Substitute Ordinance transmitted herewith
This recommendation was concurred in by a viva voce vote of the members of the Committee.