Office of the City Clerk - Record #: O2019-1404

• Record #: O2019-1404
• Type: Ordinance
• Status: Passed
• Intro date: 3/13/2019
• Current Controlling Legislative Body: Committee on Finance
• Final action: 4/10/2019
• Title: Fourth Amendment to 95th and Western Tax Increment Financing District (TIF) Plan regarding estimated dates of completion and retirement of debt obligation
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - 95th/Western T.I.F. - Amendment

Date	Journal Page Number	Action By	Action	Result
4/12/2019		Office of the Mayor	Signed by Mayor
4/10/2019	98709	City Council	Passed	Pass
4/8/2019		Committee on Finance	Recommended to Pass
3/13/2019	95485	City Council	Referred

S.\SHARED\Finance\TIF Amendments\95lh and Western AmendmentAAmendment No. 4 ord 1.doc

ORDINANCE

WHEREAS, pursuant to ordinances adopted on July 13,1995, and published in the Journal of Proceedings ofthe City Council ofthe City of Chicago (the "Journal") for such date at pages 3914 to 3988, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seg., as amended (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 ofthe City known as the "95thand Western Avenue Redevelopment Project Area" (the "Area") (the "Original Plan Ordinance"); (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 "TIF Adoption Ordinance" and together with the Original Plan Ordinance and the Designation Ordinance, referred to herein collectively as the "TIF Ordinances"); and

WHEREAS, the Corporate Authorities amended the Original Plan Ordinance pursuant to ordinances adopted on March 19,1997, and published in the Journal for such date at pages 42053 to 42107 ("Amendment No. 1"); on February 6, 2008, and published in the Journal for such date at pages 20018 to 20026 ("Amendment No. 2"); and on July 30, 2014, and published in the Journal for such date at pages 84893 to 84896 ("Amendment No. 3," and together with the Original Plan and Amendments Nos. 1 and 2, the "Plan"); and
WHEREAS, the Plan established the estimated dates of completion ofthe redevelopment project described in the Plan and of the retirement of obligations issued to finance redevelopment project costs to be December 31,2019, in accordance with the provisions of Section 11-74.4-3(n)(3) of the Act in effect on the date of adoption of Amendment No. 3; and

WHEREAS, Public Act 100-1164 (the "Amendatory Act"), which became effective Decem...