This record contains private information, which has been redacted from public viewing.
Record #: O2022-3000   
Type: Ordinance Status: Passed
Intro date: 9/21/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 10/26/2022
Title: Sale of City property to Inherent L3C for construction of affordable and market rate homes under City Lots for Working Families Program
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment, - PROPERTY - Sale
Attachments: 1. O2022-3000.pdf
\A 'j U



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










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing, 1 transmit herewith ordinances authorizing the sale of City-owned lots for building homes under the City Lots for Working Families Program.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours,

ORDINANCE

WHEREAS, the City of Chicago (the "Citv") is a home rule unit of government pursuant to Article VII, Section 6(a) of the Constitution of the State of Illinois of 1970, and as such may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, pursuant to ordinances adopted by the City Council of the City (the "City Council") on February 27, 2002, and published on pages 79794 through 80025 in the Journal of the Proceedings of the City Council (the "Journal") for such date, the City Council: (i) approved a certain redevelopment plan and project (the "Original Redevelopment Plan") for the Chicago/Central Park 'fax Increment Financing Redevelopment Project Area (the "Redevelopment Area") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "TIF Act"); (ii) designated the Redevelopment Area as a redevelopment project area pursuant to the TIF Act; and (iii) adopted tax increment allocation financing pursuant to the TIF Act as a means of financing certain Redevelopment Area redevelopment project costs (as defined in the TIF Act) incurred pursuant to the Original Redevelopment Plan; and

WHEREAS, the City Council, pursuant to an ordinance adopted on June 8, 2011, and published at pages 214 through 398 in the Journal of such date, authorized an amendment to the Original Redevelopment Plan (the Original Redevelopment Plan, as amended, the "Redevelopment Plan"); and

WHEREAS, the Redevelopment Plan and the use of tax ...

Click here for full text