Office of the City Clerk - Record #: O2013-6725

• Record #: O2013-6725
• Type: Ordinance
• Status: Passed
• Intro date: 9/11/2013
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/16/2013
• Title: Loan and redevelopment agreement with Chicago Neighborhood Initiatives, Inc. for construction of manufacturing and distribution facility
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Loan & Security

Date	Journal Page Number	Action By	Action	Result
10/25/2013		Office of the Mayor	Signed by Mayor
10/16/2013	60759	City Council	Passed	Pass
10/11/2013		Committee on Finance	Recommended to Pass	Pass
9/11/2013	58777	City Council	Referred

CHICAGO October 16. 2013

To the President and Members of the City Council:

Your Committee on Finance having had under consideration


An ordinance authorizing the Commissioner of the Department of Housing and Economic Development to enter into and execute a Redevelopment Agreement with Chicago Neighborhood Initiatives, Inc.
02013-6725










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
of members of the committee with


(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

September 11, 2013










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing and Economic Development, I transmit herewith an ordinance authorizing the execution of a redevelopment agreement for Chicago Neighborhood Initiatives.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
S:\SH£RED\Finance\Gaynor NewUHousing & Econ Dev\Project Legacy\Ordinance\ord 5 + rda 10.doc

ORDINANCE

WHEREAS, to induce certain redevelopment pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the "Act"), in accordance with the provisions of the Act, pursuant to ordinances adopted on June 20, 2009, the City Council (the "City Council") of the City of Chicago (the "City"): (1) approved and adopted a redevelopment plan (the "North Pullman Redevelopment Plan") for the North Pullman Area Industrial Redevelopment Project Area (the "North Pullman Redevelopment Area") of the City; (2) designated the North Pullman Redevelopment Area as a "redevelopment project area" pursuant to the Act; and (3) adopted tax increment allocation financing for the North Pullman Redevelopme...