Office of the City Clerk - Record #: O2014-860

• Record #: O2014-860
• Type: Ordinance
• Status: Passed
• Intro date: 2/5/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 3/5/2014
• Title: Intergovernmental agreement with Chicago Board of Education for provision of Tax Increment Financing (TIF) assistance for rehabilitation and improvements to Coonley School
• Sponsors: Emanuel, Rahm, Pawar, Ameya
• Topic: AGREEMENTS - Intergovernmental

Date	Journal Page Number	Action By	Action	Result
3/5/2014	75350	City Council	Passed	Pass
3/4/2014		Committee on Finance	Recommended to Pass	Pass
2/5/2014	73582	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
February 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, together with Alderman Pawar, an ordinance authorizing an intergovernmental agreement with the Board of Education regarding TIF assistance for Coonley School.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
S:\Finance\Gaynor New\HED\Coonley Annex\ord 1 doc

ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois; and
WHEREAS, the Board of Education of the City of Chicago (the "Board") is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois; and

WHEREAS, the Board owns or otherwise controls certain real property generally located at 4046 North Leavitt Street, Chicago, Illinois 60618 (the "Property"); and
WHEREAS, the Board is improving an elementary school on the Property known as the Coonley School; and
WHEREAS, the improvement of the elementary school requires the Board to rehabilitate the buildings and related improvements which will house and serve the School (the "Facility") on the Property (all such activities referred to herein shall be known as the "Project"); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seg., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, to induce certain redevelopment pursuant to the Act, the City Council adopted the following ordinances on January 12, 2000: "An Ordinance of the City of C...