OFFICE OF THE MAYOR CITY OF CHICAGO
RAHM EMANUEL
October 3, 2012
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Housing and Economic Development, I transmit herewith ordinances authorizing funding, and associated agreements with Neighborhood Housing Services, for TIF-NIP single family programs.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") ofthe City of Chicago ("City") on November 13, 2002, a certain redevelopment plan and project (the "Commercial Avenue Plan") for the Commercial Avenue Redevelopment Project Area (the "Commercial Avenue 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 November 13, 2002, 2010, the Commercial Avenue Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance adopted by the City Council on November 13, 2002, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Commercial Avenue Area redevelopment project costs (as defined in the Act) incurred pursuant to the Commercial Avenue 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 Commercial Avenue Area (the "Commercial Avenue 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 Commercial Avenue Program (the "Commercial Avenue NHS Agreement"); and
WHEREAS, t...
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