OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
May 23, 2022
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 the sale of City-owned properties.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule unit of government by virtue of the provisions of Article Vll, Section 6(a) ofthe Constitution ofthe State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City is the owner of the real property located at 1318 S. Kilbourn Avenue, 1318 S. Kilbourn Avenue (partial) and 1256 S Kilbourn Avenue, located in Chicago, Illinois, and having the Property Identification Numbers (PINs) 16-22-106-004 and 16-22-106-017 (partial) and 16-22-106-005, which, in the aggregate are approximately 127,073 sq. ft. and are legally described on Exhibit A attached hereto (collectively, the "Property"); and
WHEREAS, pursuant to ordinances adopted by the City Council of the City (the "City Council") on February 5, 1998 and published in the Journal of the Proceedings of the City Council for such date, a certain redevelopment plan and project ("Plan") for the Roosevelt/Cicero Redevelopment Project Area ("Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"), the Area was designated as a redevelopment project area pursuant to the Act, and tax increment financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and
WHEREAS, the Property is located in the Area; and
WHEREAS, an appraisal report prepared by Polach Appraisal Group, Inc., states that the ap...
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