Office of the City Clerk - Record #: SO2022-3807

• Record #: SO2022-3807
• Type: Ordinance
• Status: Passed
• Intro date: 11/16/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 12/14/2022
• Title: Designation of Red Line Extension Redevelopment Project Area as Tax Increment Allocation Redevelopment Project Area
• Sponsors: Lightfoot, Lori E.
• Topic: TAX INCREMENT FINANCING DISTRICTS - Red Line Extension T.I.F.

Date	Journal Page Number	Action By	Action	Result
12/20/2022		City Council	Signed by Mayor
12/14/2022	57734	City Council	Passed as Substitute	Pass
12/12/2022		Committee on Finance	Recommended to Pass
12/12/2022		Committee on Finance	Substituted in Committee
11/16/2022	55842	City Council	Referred

Substitute
An Ordinance ofthe City of Chicago, Illinois designating the Red Line Extension (RLE) 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 Red Line Extension (RLE) Redevelopment Project Area (the "Area") described in Section 2 ofthis 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) ofthe Act on July 21, 2022, at 5:30 p.m. both virtually via Zoom and in-person at Harold Washington Library, Cindy Pritzker Auditorium, 400 South State Street Chicago, Illinois 60605; and

WHEREAS, the Plan (including the related eligibility report and the feasibility study) was made available for public inspection and review pursuant to Section 5/11-74.4-5(a) of the Act since July 27, 2022, 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 22-CDC-34 on August 9, 2022, 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 5/11-74.4-5(a) of the Act, notice of the availability of the Plan (including the related eligibility report and the feasibility study) was sent by mail on August 12, 2022, which is within a reasonable time after the adoption by the Commission of Resolution 22-CDC-34 to: (a) all residential addresses that...