Office of the City Clerk - Record #: O2011-2187

• Record #: O2011-2187
• Type: Ordinance
• Status: Passed
• Intro date: 3/9/2011
• Current Controlling Legislative Body: Committee on Finance
• Final action: 4/13/2011
• Title: Designation of Near South Tax Increment Financing (TIF) 2011 Expanded Redevelopment Project Area
• Sponsors: Daley, Richard M.
• Topic: TAX INCREMENT FINANCING DISTRICTS - Near South Am. #1 - Central Station T.I.F. - Designation

Date	Journal Page Number	Action By	Action	Result
4/29/2011		Office of the Mayor	Signed by Mayor	Pass
4/13/2011	114622	City Council	Passed	Pass
3/9/2011	112751	City Council	Referred

RICHARD M. DALEY
MAYOR
OFFICE OF THE MAYOR CITY OF CHICAGO
March 9,2011
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, I transmit herewith ordinances amending the 47lh/Ashland and Near South TIF Plans.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours,

S:\frnance\Gaynor New\Planning\TIFs\Near South Amendment\NearSouth TIF Amend Designation Ord 2011 Version 3.doc
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING THE NEAR SOUTH TAX INCREMENT FINANCING 2011 EXPANDED PROJECT AREA A REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
WHEREAS, under ordinances adopted on November 28, 1990, and published in the journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 25969 to 26047, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seg., as amended (the "Act"), the City Council (the "City Council") of the City of Chicago (the "City"): (i) approved the "Central Station Area Tax Increment Financing Redevelopment Project and Plan" (the "Central Station Plan") for a portion of the City known as the "Central Station Project Area" (the "1990 Original Project Area") (the "Original Plan Ordinance"); (ii) designated the 1990 Original Project Area as a "redevelopment project area" within the requirements of the Act (the "Designation Ordinance"); and (iii) adopted tax increment financing for the 1990 Original Project Area (the "Adoption Ordinance") (the Original Plan Ordinance, the Designation Ordinance, and the Adoption Ordinance are collectively referred to herein as the "TIF Ordinances"); and
WHEREAS, the City Council subsequently determined it was necessary to expand the 1990 Original Project Area to include additional contiguous areas (the "1994 Additional Property" and, ...