Office of the City Clerk - Record #: O2022-2016

• Record #: O2022-2016
• Type: Ordinance
• Status: Passed
• Intro date: 6/22/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 7/20/2022
• Title: Redevelopment and sale agreement with Englewood Connect LLC including partial right-of-way vacation of S Green St and provision of financial assistance of City Funds and Tax Increment Financing (TIF) for Englewood Mall Redevelopment Project at 6204 S Green St, 6215-6217 S Green St
• Sponsors: Lightfoot, Lori E.
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
7/20/2022	50254	City Council	Passed	Pass
7/18/2022		Committee on Finance	Recommended to Pass
6/22/2022	48679	City Council	Referred

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LORI E. LIGHTFOOT
MAYOR
OFFICE OF THE MAYOR
CITY OF CHICAGO


June 22. 2022










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 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,
ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article Vll of the 1970 Constitution ofthe State of Illinois; and

WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City on November 29, 1989, a certain redevelopment plan and project (the "Original Redevelopment Plan") forthe Englewood Mall Redevelopment Project Area (the "Englewood Mall 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 November 29,1989, the Englewood Mall Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance adopted by the City Council on November 29, 1989 (the "Englewood Mall TIF Ordinance"), tax increment allocation financing was adopted pursuant to the Act as a means of financing certain redevelopment project costs, as defined in the Act, incurred pursuant to the Englewood Mall Plan and Project as defined hereinafter and directed that the allocation of ad valorem taxes arising from levies by taxing districts upon the taxable real property in the Englewood Mall Area and tax rates be divided in accordance with the Act and as described in the Englewood Mall TIF Ordinance; and

WHEREAS, the Original Redevelopment Plan was amended by ordinances adopted on December 17, 2008 and November 13, 2013 (the "Amendments"); and

WH...