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Record #: O2022-3011   
Type: Ordinance Status: Passed
Intro date: 9/21/2022 Current Controlling Legislative Body: Committee on Finance
Final action: 10/26/2022
Title: Redevelopment agreement with Covenant House Illinois, Inc. for rehabilitation of existing building at 2934 W Lake St as youth development center and transitional shelter
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment
Attachments: 1. O2022-3011.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
September 21, 2022










TO THE HONORABLE, THE CI TY COUNCIL OL THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, 1 transmit herewith ordinances authorizing the execution of tax increment financing redevelopment agreements with various entities.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours,

ay or
ORDINANCE


WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on June 10, 1998 and published at pages 70367 to 70500 of the Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Plan") for the Kinzie Industrial Corridor Redevelopment Project Area (the "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 was amended by a first amendment on May 12, 2010 and published at pages 89655 to 89664 of the Journal of such date; and

WHEREAS, pursuant to an ordinance adopted by the City Council on June 10, 1998 and published at pages 70501 to 70510 ofthe Journal of such date, the Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance (the "TIF Ordinance") adopted by the City Council on June 10, 1998 and published at pages 70511 to 70520 of the Journal of such date, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and

WHEREAS, Covenant House Illinois Inc., an Illinois not-for-profit corporation ("Covenant House") leases property within the Redevelopment Area at 2934 West Lake Street Chicago, Illinois 60612 (the "Site") located within the Area; and

WHEREAS, Covenant House Illinois QALICB LLC, an Illinois l...

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