Record #: O2014-1981   
Type: Ordinance Status: Passed
Intro date: 3/5/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 4/2/2014
Title: Designation of Tax Increment Financing (TIF) for 107th/Halsted Redevelopment Project Area
Sponsors: Emanuel, Rahm
Topic: TAX INCREMENT FINANCING DISTRICTS - 107th/Halsted T.I.F. - Designation
Attachments: 1. O2014-1981.pdf
 
 
CHICAGO April 2, 2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration
 
 
One (1) ordinance authorizing the establishment of the 107 /Halsted Tax Increment Increment Financing Redevelopment Project Area.
 
B.      An ordinance designating the 107th/Halsted Tax Increment Financing Redevelopment Project Area as a Redevelopment Project Area.
 
02014-1981
 
 
 
 
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
 
(a (viva voce vote
dissenting vote(s)
 
This recommendation was concurred in by of members of the committee with
 
 
 
 
Respectfully submitted
 
 
(signedj^-^
Chairman
 
Document No.
 
 
 
 
REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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OFFICE  OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
March 5, 2014
 
 
 
 
 
 
 
 
 
 
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
 
 
Ladies and Gentlemen:
 
At the request of the Commissioner of Planning and Development, I transmit herewith ordinances establishing the 107,h/Halsted TIF District.
 
Your favorable consideration of these ordinances will be appreciated.
 
Mayor
 
 
 
Very truly yours,
 
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING THE 107"'/HALSTED REDEVELOPMENT PROJECT AREA AS A REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
 
 
WHEREAS, it is desirable and in the best interest of the citizens of the City of Chicago, Illinois (the "City") for the City to implement tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seg., as amended (the "Act"), for a proposed redevelopment project area to be known as the 107th/Halsted Redevelopment Project Area (the "Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed redevelopment plan and project (the "Plan"); and
 
WHEREAS, a public meeting ("Public Meeting") was held in compliance with the requirements of Section 5/11-74.4-6(e) of the Act on July 18, 2013 at 6:00 p.m. at Sheldon Heights Church 1 1325 South Halsted Street, Chicago, Illinois; and
 
WHEREAS, the Plan (including the related eligibility report attached thereto as an exhibit and, if applicable, the feasibility study and the housing impact study) was made available for public inspection and review pursuant to Section 5/1 l-74.4-5(a) of the Act since September 27, 2013, as amended on October 8, 2013, being a date not less than 10 days before the meeting of the Community Development Commission of the City ("Commission") at which the Commission adopted Resolution 13-CDC-39 on December 10, 2013 fixing the time and place for a public hearing ("Hearing"), at the offices of the City Clerk and the City's Department of Planning and Development; and
 
WHEREAS, pursuant to Section 5/1 l-74.4-5(a) of the Act, notice of the availability of the Plan (including the related eligibility report attached thereto as an exhibit and, if applicable, the feasibility study and the housing impact study) was sent by mail on December 10, 2013, which is within a reasonable time after the adoption by the Commission of Resolution 13-CDC-39 to: (a) all residential addresses that, after a good faith effort, were determined to be (i) located within the Area and (ii) located within 750 feet of the boundaries of the Area (or, if applicable, were determined to be the 750 residential addresses that were closest to the boundaries of the Area); and (b) organizations and residents that were registered interested parties for such Area; and
 
WHEREAS, a meeting of the joint review board established pursuant to Section 5/11-74.4-5(b) of the Act (the "Board") was convened upon the provision of due notice on January 10, 2014 at 10:00 am., to review the matters properly coming before the Board and to allow it to provide its advisory recommendation regarding the approval of the Plan, designation of the Area as a redevelopment project area pursuant to the Act and adoption of Tax Increment Allocation Financing within the Area, and other matters, if any, properly before it; and
 
 
WHEREAS, pursuant to Sections 5/11-74.4-4 and 5/11-74.4-5 of the Act, the Commission held the Hearing concerning approval of the Plan, designation of the Area as a redevelopment project area pursuant to the Act and adoption of Tax Increment Allocation Financing within the Area pursuant to the Act on February 11, 2014; and
 
WHEREAS, the Commission has forwarded to the City Council a copy of its Resolution 14-CDC-2, recommending to the City Council approval of the Plan, among other related matters; and
 
WHEREAS, the City Council has heretofore approved the Plan, which was identified in AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS, APPROVING A REDEVELOPMENT PLAN FOR THE 107'"/HALSTED REDEVELOPMENT PROJECT AREA; now, therefore,
 
BE IT ORDAINED BY THE CI TY COUNCIL OF THE CITY OF CHICAGO:
 
Section 1. Recitals. The above recitals are incorporated herein and made a part hereof.
 
Section 2. The Area. The Area is legally described in Exhibit A attached hereto and incorporated herein. The street location (as near as practicable) for the Area is described in Exhibit B attached hereto and incorporated herein. The map of the Area is depicted on Exhibit C attached hereto and incorporated herein.
 
Section 3. Findings. The Corporate Authorities hereby make the following findings:
  1. The Area includes only those contiguous parcels of real property and improvements thereon that are to be substantially benefited by proposed Plan improvements, as required pursuant to Section 5/1 l-74.4-4(a) of the Act;
  2. As required pursuant to Section 5/11 -74.4-3(p) of the Act:
    1. The Area is not less, in the aggregate, than one and one-half acres in size; and
    2. Conditions exist in the Area that cause the Area to qualify for designation as a redevelopment project area and a conservation area as defined in the Act;
  2. If the Area is qualified as a "blighted area," whether improved or vacant, each of the factors necessary to qualify the Area as a redevelopment project area on that basis is (i) clearly present within the intent of the Act and with that presence documented to a meaningful extent, and (ii) reasonably distributed throughout the improved part or vacant part, as applicable, of the Area as required pursuant to Section 5/1 l-74.4-3(a) of the Act;
  3. If the Area is qualified as a "conservation area," the combination of the factors necessary to qualify the Area as a redevelopment project area on that basis is detrimental
 
 
List of Attachments
 
 
Exhibit A:     Legal description of the Area Exhibit B:     Street location of the Area Exhibit C:      Map of the Area
 
I
 
 
 
 
Exhibit A Legal Description of Area 107TH/HALSTE1) TIF DISTRICT
  1. ALL THAT PART OF SECTIONS 16, 17, 20 AND 21 (NORTH OF THE INDIAN BOUNDARY LINE) IN TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN BOUNDED AND DESCRIBED AS FOLLOWS:
  2. BEGINNING AT THE POINT OF INTERSECTION OF THE CENTER LINE OF 107th STREET WITH THE CENTER LINE OF STATE STREET, BEING ALSO THE EAST LINE OF THE SOUTHEAST QUARTER OF SECTION 16 AFORESAID;
  3. THENCE SOUTH ALONG SAID CENTER LINE OF STATE STREET, AND EAST LINE OF THE SOUTHEAST QUARTER OF SECTION 16 AFORESAID, TO THE EASTERLY EXTENSION OF THE NORTH LINE OF 110th PLACE LYING WEST OF STA TE STREET;
  4. THENCE WEST ALONG SAID EASTERLY EXTENSION OF THE NORTH LINE OF 110th PLACE LYING WEST OF STATE STREET TO THE WEST LINE OF STATE STREET;
  5. THENCE SOUTH ALONG SAID WEST LINE OF STATE STREET TO THE SOUTHEAST CORNER OF LOT 1 IN BLOCK 1 IN FALLIS AND GANO'S ADDITION TO PULLMAN BEING A SUBDIVISION OF THAT PART LYING EAST OF THE WEST 49 ACRES OF THE EAST HALF OF THE SOUTHEAST QUARTER OF SECTION 21, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, BEING ALSO THE NORTH LINE OF THE 14 FOOT ALLEY LYING SOUTH OF 115™ STREET;
  6. THENCE WEST ALONG SAID NORTH LINE OF THE 14 FOOT ALLEY LYING SOUTH OF 115™ STREET, AND ITS WESTERLY EXTENSION TO THE NORTHEASTERLY LINE OF THE CHICAGO AND WISCONSIN RAIL ROAD RIGHT OF WAY;
  7. THENCE SOUTHEASTERLY ALONG SAID NORTHEASTERLY LINE OF THE CHICAGO AND WISCONSIN RAIL ROAD RIGHT OF WAY TO THE WEST LINE OF STATE STREET;
  8. THENCE SOUTH ALONG SAID WEST LINE OF STATE STREET TO THE SOUTHWESTERLY LINE OF THE CHICAGO AND WISCONSIN RAILROAD RIGHT OF WAY;
  9. THENCE NORTHWESTERLY ALONG SAID SOUTHWESTERLY LINE OF THE CHICAGO AND WISCONSIN RAILROAD RIGHT OF WAY TO THE EAST LINE OF JAMES M. DAVIS' ADDITION TO PULLMAN, BEING A SUDIV1SION OF BLOCKS 1 AND 2 OF ALLEN'S SUBDIVISION OF THE WEST 49 ACRES OF THE EAST HALF OF THE SOUTHEAST QUARTER OF SECTION 21, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN;
10.      THENCE SOUTH ALONG THE EAST LINE OF SAID JAMES M. DAVIS'
ADDITION TO PULLMAN TO THE EASTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 6 FEET OF LOT 4 IN JAMES M. DAVIS' ADDITION TO PULLMAN AFORESAID;
 
  1. THENCE WEST ALONG SAID EASTERLY EXTENSION AND NORTH LINE OF THE SOUTH 6 FEET OF LOT 4 IN JAMES M. DAVIS' ADDITION TO PULLMAN AFORESAID, TO THE EAST LINE OF PERRY AVENUE;
  2. THENCE NORTHWEST TO THE SOUTHEAST CORNER OF LOT 81 IN JAMES M. DAVIS' ADDITION TO PULLMAN AFORESAID, BEING ALSO THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET;
  3. THENCE WEST ALONG SAID NORTH LINE OF "THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET, TO "THE EAST LINE OF STEWART AVENUE;
  4. THENCE SOUTH ALONG SAID EAST LINE OF STEWART AVENUE TO THE EASTERLY EXTENSION OF THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET IN BLOCK 1 IN JOSEPH W. WAYNE'S ADDITION TO PULLMAN, BEING A SUBDIVISION OF THE EAST HALF OF 'THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 21, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN;
  5. THENCE WEST ALONG SAID EASTERLY EXTENSION AND THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET IN BLOCK 1 IN JOSEPH W. WAYNE'S ADDITION TO PULLMAN AFORESAID, TO THE EAST LINE OF EGGLESTON AVENUE;
  6. THENCE SOUTH ALONG SAID EAST LINE OF EGGLESTON AVENUE THE EASTERLY EXTENSION OF THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET IN BLOCK 2 IN JOSEPH W. WAYNE'S ADDITION TO PULLMAN AFORESAID;
  7. THENCE WEST ALONG SAID EASTERLY EXTENSION AND THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET IN BLOCK 2 IN JOSEPH W. WAYNE'S ADDITION TO PULLMAN AFORESAID, AND THE WESTERLY EXTENSION THEREOF, TO THE WEST LINE OF NORMAL AVENUE;
  8. THENCE NORTH ALONG SAID WEST LINE OF NORMAL AVENUE TO THE SOUTHEAST CORNER OF LOT 1 IN BLOCK 1 IN JOSIAH H. BISSELL'S SUBDIVISION OF 'THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF 'THE SOUTHWEST QUARTER OF SECTION 21, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, BEING ALSO 'THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET;
  9. THENCE WEST ALONG SAID NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET, AND THE WESTERLY EXTENSION THEREOF, TO THE WEST LINE OF PARNELL AVENUE;
  10. THENCE NORTH ALONG SAID WEST LINE OF PARNELL AVENUE TO THE SOUTHEAST CORNER OF LOT 1 IN CHARLES H. BRANDT'S SUBDIVISION OF THE WEST HALF OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 21, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, BEING ALSO THE NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET;
  11. THENCE WEST ALONG SAID NORTH LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET TO THE EAST LINE OF WALLACE AVENUE;
  12. THENCE SOUTH ALONG SAID EAST LINE OF WALLACE AVENUE TO THE EASTERLY EXTENSION OF THE NORTH LINE OF THE 20 FOOT ALLEY LYING SOUTH OF 1 15th STREET LYING SOUTH OF AND ADJOINING LOTS 19 THROUGH
 
 
24, INCLUSIVE, IN SHARPSHOOTER'S PARK SUBDIVISION OF PART OF SHARPSHOOTER'S PARK, SAID PARK BEING THE WEST HALF OF THE SOUTHWEST QUARTER OF SECTION 21, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN;
  1. THENCE WEST ALONG SAID EASTERLY EXTENSION AND THE SOUTH LINE OF THE 20 FOOT ALLEY LYING SOUTH OF 115111 STREET, AND THE WESTERLY EXTENSION THEREOF, TO THE WEST LINE OF LOWE AVENUE;
  2. THENCE NORTH ALONG SAID WEST LINE OF LOWE AVENUE TO THE CENTER LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET, AND LYING NORTH OF AND ADJOINING LOT 27 IN SHARPSHOOTER'S PARK SUBDIVISION OF PAR T OF SHARPSHOOTER'S PARK AFORESAID;
  3. THENCE WEST ALONG SAID CENTER LINE OF THE 16 FOOT ALLEY LYING SOUTH OF 115™ STREET TO THE CENTER LINE OF THE 20 FOOT ALLEY LYING WEST OF AND ADJOINING LOT 27 IN SHARPSHOOTER'S PARK SUBDIVISION OF PART OF SHARPSHOOTER'S PARK AFORESAID;
  4. THENCE SOUTH ALONG SAID CENTERL1NE OF THE 20 FOOT ALLEY LYING WEST OF AND ADJOINING LOT 27 IN SHARPSHOOTER'S PARK SUBDIVISION OF PART OF SHARPSHOOTER'S PARK AFORESAID, TO THE CENTER LINE OF THE 20 FOOT ALLEY LYING SOUTH OF 115™ STREET;
  5. THENCE WEST ALONG SAID CENTER LINE OF THE 20 FOOT ALLEY LYING SOUTH OF 115™ STREET TO THE CENTER LINE OF THE 20 FOOT ALLEY LYING EAST OF HALSTED STREET, SAID ALLEY BEING ALSO EAST OF AND ADJOINING THE EAST LINE OF LOTS 46 THROUGH 51, INCLUSIVE, IN SHARPSHOOTER'S PARK SUBDIVISION OF PART OF SHARPSHOOTER'S PARK AFORESAID;
  6. THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND ALONG THE CENTER LINE OF THE ALLEY EAST OF AND PARALLEL WITH HALSTED ST. TO THE CENTER LINE OF 115th STREET;
  7. THENCE WEST ALONG SAID CENTER LINE OF 115th ST. TO 'THE CENTER LINE OF HALSTED STREET;
  8. THENCE NORTH ALONG SAID CENTER LINE OF HALSTED ST. TO THE CENTER LINE OF 114th STREET;
  9. THENCE WEST ALONG SAID CENTER LINE OF 114th STREET TO THE SOUTHERLY EXTENSION OF THE CENTER LINE OF THE 16 FOOT ALLEY LYING WEST OF GREEN STREET, SAID ALLEY BEING ALSO EAST OF AND ADJOINING THE EAST LINE OF LOTS 16 THROUGH 30, INCLUSIVE, IN SHELDON HEIGHTS WEST FIFTH ADDI TION, A SUBDIVISION OF A PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 20, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE 'THIRD PRINCIPAL MERIDIAN;
  10. THENCE NORTH ALONG SAID SOUTHERLY EXTENSION OF THE CENTER LINE OF THE 16 FOOT ALLEY LYING WEST OF GREEN STREET TO THE EASTERLY EXTENSION OF THE SOUTH LINE OF LOT 30 IN SHELDON HEIGHTS WEST FIFTH ADDITION AFORESAID;
  11. THENCE WEST ALONG SAID EASTERLY EXTENSION AND THE SOUTH LINE OF LOT 30 IN SHELDON HEIGHTS WEST FIFTH ADDITION AFORESAID AND THE
 
 
 
 
 
 
 
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WESTERLY EXTENSION THEREOF TO THE SOUTHEAST CORNER OF LOT 31 IN SHELDON HEIGH TS WEST FIFTH ADDITION AFORESAID;
  1. THENCE CONTINUING WEST ALONG THE SOUTH LINE OF SAID LOT 31 IN SAID SHELDON HEIGHTS WEST FIFTH ADDITION AND THE WESTERLY EXTENSION THEREOF TO THE SOUTHWEST CORNER OF SHELDON HEIGHTS WEST FIFTH ADDITION AFORESAID:
  2. THENCE NORTH ALONG THE WEST LINE OF SAID SHELDON HEIGHTS WEST FIFTH ADDITION, BEING ALSO THE WEST LINE OF AN 8 FOOT ALLEY LYING WEST OF PEORIA STREET, TO THE EASTERLY EXTENSION OF A LINE 16 FEET SOUTH OF AND PARALLEL WITH THE SOUTH LINE OF LOTS 19 AND 20 IN THE SIXTH ADDITION TO SHELDON HEIGHTS WEST, BEING A SUBDIVISION OF PART OF 'THE EAST TWO THIRDS OF THE WEST THREE EIGHTS OF THE NORTH HALF OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 20, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN;
  3. THENCE WEST ALONG SAID EASTERLY EXTENSION AND SAID LINE 16 FEET SOUTH OF AND PARALLEL WITH THE SOUTH LINE OF LOTS 19 AND 20 IN TFIE SIXTH ADDITION TO SHELDON HEIGHTS WEST, TO THE SOUTHWESTERLY LINE OF SAID SIXTH ADDITION TO SHELDON HEIGHTS WEST SUBDIVISION, SAID SOUTHWESTERLY LINE BEING A LINE 8 FEET SOUTHWEST OF AND PARALLEL WITH THE SOUTHWESTERLY LINE OF LOTS 20 THROUGH 23, INCLUSIVE IN SIXTH ADDITION TO SHELDON HEIGHTS WEST AFORESAID;
  4. THENCE NORTHWEST ALONG SAID SOUTHWESTERLY LINE OF SIXTH ADDITION TO SHELDON HEIGHTS WEST SUBDIVISION TO THE POINT OF INTERSECTION OF SAID SOUTHWESTERLY LINE WITH 'THE WEST LINE OF SAID SIXTH ADDITION TO SHELDON HEIGHTS WEST SUBDIVISION, SAID POINT BEING 1,032.98 FEET SOUTH OF THE NORTH LINE OF THE WEST HALF OF THE NORTHEAST QUARTER OF SECTION 20 AFORESAID;
  5. THENCE SOUTHWESTERLY ALONG A STRAIGHT LINE 'TO A POINT ON THE WEST LINE OF 'THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 20 AFORESAID, SAID POINT BEING 1,188.76 FEET SOUTH OF THE NORTH LINE OF SAID SECTION 20 AS MEASURED ALONG SAID WEST LINE OF THE EAST HALF OF THE NORTHEAST' QUARTER OF SEC TION 20 AFORESAID;
  6. 'THENCE SOUTH ALONG SAID WEST LINE OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 20 TO THE NORTHEASTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY;
  7. THENCE NORTHWESTERLY ALONG SAID NORTHEASTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY, TO THE CENTER LINE OF 111™ STREET;
  8. THENCE WEST ALONG SAID CENTER LINE OF 111™ STREET TO THE EAST LINE OF RACINE AVENUE;
  9. THENCE NORTH ALONG SAID EAST LINE OF RACINE AVENUE TO THE CENTER LINE OF THE 16 FOO T ALLEY LYING NORTH OF 111™ STREET;
  10. THENCE WEST ALONG THE WESTERLY EXTENSION OF SAID 16 FOOT ALLEY LYING NORTH OF 111™ STREET TO THE CENTER LINE OF RACINE AVENUE;
 
  1. THENCE NORTH ALONG SAID CENTER LINE OF RACINE AVENUE TO THE SOUTHWESTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY;
  2. THENCE NORTHWESTERLY ALONG SAID SOUTHWESTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY, TO THE CENTER LINE OF 107™ PLACE;
  3. THENCE WEST ALONG SAID CENTER LINE OF 107™ PLACE TO THE EASTERLY LINE RIGHT OF WAY OF THE DAN RYAN EXPRESSWAY (INTERSTATE 57);
  4. THENCE NORTHEASTERLY ALONG SAID EASTERLY RIGHT OF WAY OF THE DAN RYAN EXPRESSWAY (INTERSTATE 57) TO THE CENTER LINE OF 107™ STREET';
  5. THENCE EAST ALONG SAID CENTER LINE OF 107™ STREET TO THE SOUTHWESTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY;
  6. THENCE SOUTHEASTERLY ALONG SAID SOUTHWESTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY TO THE SOUTH LINE OF 107™ STREET;
  7. THENCE EAST ALONG SAID SOUTH LINE OF 107™ STREET TO THE NORTHEASTERLY LINE OF THE PENN CEN TRAL RAIL ROAD RIGHT OF WAY;
  8. THENCE NORTHWESTERLY ALONG SAID NORTHEASTERLY LINE OF THE PENN CENTRAL RAIL ROAD RIGHT OF WAY 'TO THE CENTER LINE OF 107™ STREET;
  9. THENCE EAST ALONG SAID CENTER LINE OF 107™ STREET TO THE POINT OF BEGINNING AT THE POINT OF INTERSECTION OF THE CENTER LINE OF STATE STREET, BEING ALSO THE EAST LINE OF THE SOUTHEAST QUARTER OF SECTION 16 AFORESAID, WITH THE CENTER LINE OF 107th STREET IN THE SOUTHEAST QUARTER OF SECTION 16;
  10. ALL IN THE CITY OF CHICAGO, COOK COUN TY, ILLINOIS.
 
EXHIBIT B Street Boundary Description of the Area
The Area is generally bounded by 107th Street on the north, the south side of 115th Street on the south, State Street on the east and Green Street on the west.
 
EXHIBIT C Map of the Area
 
 
107th Street
 
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115th Street
Legend
L__J ,0"* * HalsloO TIF Boundary lorin is Hawed TiF pit^s
 
 
 
 
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Piflure A
 
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107lh & Halsted TIP Chicago, Illinois
 
to the public health, safety, morals or welfare, and the Area may become a blighted area.
 
Section 4. Area Designated. The Area is hereby designated as a redevelopment project area pursuant to Section 5/11-74.4-4 of the Act.
 
Section 5. 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 6. Supersedes All ordinances, resolutions, motions or orders in conflict with this ordinance are hereby repealed to the extent of such conflict.
 
Section 7. Effective Date. This ordinance shall be in full force and effect immediately upon its passage.