ORDINANCE
WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois, and as such may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the Chicago Park District (the "Chicago Park District") is a unit of local government; and
WHEREAS, the City owns the parcel of land commonly known as 4149-4153 South Vincennes Avenue and legally described in Exhibit A attached hereto and made a part hereof (the "Property"); and
WHEREAS, the Chicago Park District is interested in acquiring the Property from the City for the creation of a dog park to provide open space and recreational facilities for the benefit ofthe residents ofthe area (the "Project"); and
WHEREAS, the City is authorized to convey City-owned real estate to other municipalities in accordance with the provisions of the Local Government Property Transfer Act, 50 ILCS 605/0.01 et seq.; and
WHEREAS, the Property lies wholly within the boundaries of the 43rd & Cottage Grove Redevelopment Area (as hereinafter defined); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 ei* seq., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, in accordance with the provisions of the Act, and pursuant to ordinances adopted on July 8, 1998 and published in the Journal of the Proceedings of the City Council of the City of Chicago (the "Journal") for said date at pages 72320-72413, and amended on September 29, 2004, the City Council: (i) approved and adopted a redevelopment plan and project (the "Plan") for a portion of the City known as the "43rd & Cottage Grove Redevelopment Project Area" (the "43rd & Cottage Grove Redevelopme...
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