Office of the City Clerk - Record #: O2015-7236

• Record #: O2015-7236
• Type: Ordinance
• Status: Passed
• Intro date: 9/24/2015
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/14/2015
• Title: Designation of Belmont/Central Redevelopment Amendment No. 2 Project Area
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Belmont/Cicero T.I.F. - Designation

Date	Journal Page Number	Action By	Action	Result
10/14/2015	9194	City Council	Passed	Pass
10/13/2015		Committee on Finance	Recommended to Pass	Pass
9/24/2015	4695	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL,
MAYOR
September 24, 2015









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 authorizing amendments to various TIF Districts.

Your favorable consideration of these ordinances will be appreciated.

Mayor


Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING
THE BELMONT/CENTRAL REDEVELOPMENT AMENDMENT NUMBER 2 PROJECT AREA
A REDEVLOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT

WHEREAS, under ordinances adopted on January 12, 2000, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 22590 to 22740, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seq., as amended (the "Act"), the City Council (the "City Council") of the City of Chicago (the "City"): (i) approved the "Belmont/Central Tax Increment Financing Redevelopment Plan and Project" (the "Belmont/Central Plan") for a portion of the City known as the "Belmont/Central Redevelopment Project Area" (the "Original Area") (the "Original Plan Ordinance"); (ii) designated the Original Area as a "redevelopment project area" within the requirements of the Act (the "Designation Ordinance"); and (iii) adopted tax increment financing for the Original Area (the "Adoption Ordinance") (the Original Plan Ordinance, the Designation Ordinance, and the Adoption Ordinance are collectively referred to herein as the "TIF Ordinances"); and
WHEREAS, the Belmont/Central Plan underwent certain revisions prior to the adoption ofthe TIF Ordinances (collectively, "Revision Number 1"), the substance of Revision Number 1 having been approved and adopted by the City Council by virtue of the inclusion of said revisions in the Belmont/Central Plan and the approval and adoption by the City...