Office of the City Clerk - Record #: O2017-7817

• Record #: O2017-7817
• Type: Ordinance
• Status: Passed
• Intro date: 11/8/2017
• Current Controlling Legislative Body: Committee on Finance
• Final action: 11/21/2017
• Title: Approval of Amendment Number 2 to Northwest Industrial Corridor Tax Increment Financing (TIF) Redevelopment Plan and Project for change of property at 4301 W Chicago Ave from industrial use to mixed use
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Northwest Industrial Corridor T.I.F. - Amendment

Date	Journal Page Number	Action By	Action	Result
11/21/2017	61996	City Council	Passed	Pass
11/20/2017		Committee on Finance	Recommended to Pass
11/8/2017	58417	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 8, 2017










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 ordinance amending the Northwest Industrial Corridor TIF area.

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,
ORDINANCE
i
WHEREAS, under ordinances adopted on December 2,1998, and published in the Journal of Proceedings of the City Council for such date at pages 86179-86400 (as amended by an ordinance adopted on May 2,2010 and published in the Journal of Proceedings of the City Council for such date at pages 89655-89664), and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11 - 74.4.1 et sea, as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved "The Northwest Industrial Corridor Tax Increment Financing Redevelopment Plan and Project" (the "Plan,") for a portion of the City known as the "Northwest Industrial Corridor Redevelopment Project Area" (the "Area") (such ordinances being defined herein as the "Approval Ordinances"); (ii) designated the Area as a "redevelopment project area" within the requirements of the Act (the "Designation Ordinance") and, (iii) adopted tax increment financing for the Area (the "Adoption Ordinance"); and

WHEREAS, the Approval Ordinances, the Designation Ordinance, and the Adoption Ordinance are collectively referred to in this ordinance as the "TIF Ordinances"; and

WHEREAS, under Section 11-74.4-5(c) of the Act, amendments to a redevelopment plan which do not (1) add additional parcels of property to the proposed redevelopment project area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment projec...