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CHICAGO November 19, 2014
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
A communication recommending a proposed ordinance concerning the authority to approve Amendment No. 3 to the Roosevelt-Homan Commercial/Residential Tax Increment Financing Redevelopment Plan and Project.
02014-9022
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
This recommendation was concurred in by (a(viva voce vote
of members of the committee with dissenting vote(s
Respectfully submitted
(signed
Chairman
Document No.
REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
November 5, 2014
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 amendments to various TIF districts.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
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ORDINANCE
WHEREAS, pursuant to ordinances adopted on December 5,1990, in accordance with the provisions ofthe Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. (the "Act"), the City Council (the "Corporate Authorities") ofthe City of Chicago (the "City"): (i) approved a redevelopment plan and project (the "Original Plan") for a portion of the City known as the "Roosevelt-Homan Commercial/Residential Redevelopment Area" (the "Area") (the "Original Plan Ordinance"); (ii) designated the Area as a "redevelopment project area" (the "Designation Ordinance"); and (iii) adopted tax increment allocation financing for the Area (the "TIF Adoption Ordinance"); and
WHEREAS, pursuant to an ordinance adopted on July 31,1996, the Corporate Authorities amended the Original Plan to increase the budget ("Amendm...
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