OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
October 3, 2012
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Housing and Economic Development, 1 transmit herewith ordinances authorizing funding, and associated agreements with Neighborhood Housing Services, for TIF-NIP single family programs.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
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ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") ofthe City of Chicago ("City") on February 27,2002, a certain redevelopment plan and project (the "Englewood Neighborhood Plan") for the Englewood Neighborhood Redevelopment Project Area (the "Englewood Neighborhood Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seg) (the "Act"); and
WHEREAS, pursuant to an ordinance adopted by the City Council on February 27,2002, the Englewood Neighborhood Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance adopted by the City Council on February 27, 2002, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Englewood Neighborhood Area redevelopment project costs (as defined in the Act) incurred pursuant to the Englewood Neighborhood Plan; and
WHEREAS, the City, through its Department of Housing and Economic Development ("HED"), established a TIF Neighborhood Improvement program to fund improvements to single-family residential properties in the Englewood Neighborhood TIF Area (the "Englewood Neighborhood Program") and entered into an agreement on February 14, 2005 with NHS ("Agreement") pursuant to which NHS performed certain administrative services for the Englewood Neighborhood Program; and
WHEREAS, in the Agreement, HED made available the proceeds of a loan to...
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