OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALKY
MAYOR
April 13,2011
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 authorizing the execution of agreements with Neighborhood Housing Services for various TIF-Neighborhood Improvement programs.
Your favorable consideration of these ordinances will be appreciated.
ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago ("City") on March 29,' 2006, a certain redevelopment plan and project (the "63rd/Ashland Plan") for the 63rd/Ashland Redevelopment Project Area (the "63rd/Ashland 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 March 29, 2006, the 63rd/Ashland Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance adopted by the City Council on March 29, 2006, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain 63rd/Ashland Area redevelopment project costs (as defined in the Act) incurred pursuant to the 63rd/Ashland Plan; and
WHEREAS, the City, through its Department of Housing and Economic Development ("HED"), desires to establish a TIF Neighborhood Improvement program in an amount not to exceed $500,000 to fund improvements to single-family residential properties in the 63rd/Ashland Area (the "63rd/Ashland Program") and desires to enter into an agreement with Neighborhood Housing Services of Chicago, Inc., an Illinois not-for-profit corporation ("NHS"), to perform certain administrative services for the 63rd/Ashland Program (the "63rd/Ashland NHS Agreement"); and
WHEREAS, the City's obligation to provide funds under the 63rd/Ashland NHS Agreement will be met t...
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