Office of the City Clerk - Record #: O2011-5506

• Record #: O2011-5506
• Type: Ordinance
• Status: Passed
• Intro date: 7/6/2011
• Current Controlling Legislative Body: Committee on Finance
• Final action: 7/28/2011
• Title: Thirty-second amending agreement with SomerCor 504, Inc. to administer Small Business Improvement Fund program in Ewing Ave Redevelopment Project Area
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Ewing Ave T.I.F. - Small Business Improvement Fund

Date	Journal Page Number	Action By	Action	Result
8/4/2011		Office of the Mayor	Signed by Mayor
7/28/2011	3789	City Council	Passed	Pass
7/27/2011		Committee on Finance	Recommended to Pass	Pass
7/6/2011	2014	City Council	Referred

CHICAGO July. 28, 2011 To the President and Members of the City Council: Your Committee on Finance having had under consideration
An ordinance authorizing an Amendment to the Small Business Improvement Fund Program.
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_(a
of members of the committee with__dissenting vot

(signe<
Respectfully submitted


Chairman


OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 6,2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development. 1 transmit herewith an ordinance establishing a new Small Business Improvement Fund in the Ewing Avenue Tax Increment Financing District.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,

Mayor
ORDINANCE
WHEREAS, the City of Chicago ("City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, 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 blighted conditions and conservation area factors through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, by an ordinance adopted by the City Council of the City ("City Council") on July 21,1999, and published in the Journal of Proceedings of the City Council ("Journal") for said date at pages 8307 to 8344, inclusive (the "Program Ordinance"), the City implemented a redevelopment program known as the Small Business Improvement Fund program (the "Program") to provide financing assistance pursuant to the Act for the improvement of commercial and industrial facilities of small businesses in certain redevelopment project areas of the City; and
WHEREAS...