Office of the City Clerk - Record #: O2022-1770

• Record #: O2022-1770
• Type: Ordinance
• Status: Passed
• Intro date: 5/23/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 7/20/2022
• Title: Intergovernmental agreement with Chicago Transit Authority for infrastructure repairs to Brown Line Western station utilizing Tax Increment Financing (TIF) fund assistance
• Sponsors: Lightfoot, Lori E.
• Topic: AGREEMENTS - Intergovernmental

Date	Journal Page Number	Action By	Action	Result
7/20/2022	51295	City Council	Passed	Pass
6/22/2022	48981	City Council	Deferred and Published
5/23/2022	47158	City Council	Referred

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

May 23, 2022










TO TI IK HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, 1 transmit herewith ordinances authorizing the execution of intergovernmental agreements with the Chicago Transit Authority to provide TIF funding for various transit stations, track and turnaround improvements.

Your favorable consideration of these ordinances will be appreciated.

ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government as described in Section 6(a), Article VII ofthe 1970 Constitution ofthe State of Illinois; and
WHEREAS, the Chicago Transit Authority (the "CTA") is a municipal corporation ofthe State of Illinois; and
WHEREAS, the City is authorized, under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (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 three ordinances adopted on January 12, 2000, the City Council ofthe City (the "City Council"): (i) approved a certain redevelopment plan and project (the "Plan") for the Western Avenue North Redevelopment Project Area (the "Area") within the City; (ii) designated the Area as a redevelopment project area; and (iii) adopted tax increment allocation financing (the "TIF Adoption Ordinance") for the Area; and
WHEREAS, under the Act and the TIF Adoption Ordinance, certain taxes are allocated and, when collected, are paid to the Treasurer of the City for deposit by the Treasurer into the TIF Fund (as defined in the TIF Adoption Ordinance) established to pay redevelopment project costs incurred within the Area, which taxes may be used to pay all or a portion of the cost...