OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALEY
MAYOR
March 9,2011
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 an ordinance authorizing the provision of TIF funding and a conveyance for Thai Town Center.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING THAI TOWN CENTER, INC. AS DEVELOPER AND
AUTHORIZING A REDEVELOPMENT AGREEMENT ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on February 27, 2002 and published at pages 79687 to 79771 of the Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Plan") for the Lawrence/Pulaski Redevelopment Area (the "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 February 27, 2002 and published at pages 79772 to 79782 of the Journal of such date, the Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance (the "TIF Ordinance") adopted by the City Council on February 27, 2002 and published at pages 79783 to 79793 of the Journal of such date, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and
WHEREAS, Thai Town Center, Inc., an Illinois not-for-profit corporation (the "Company"), desires to acquire a former police station (the "Facility") at real property commonly known as 4461 North Pulaski Avenue (the "Pulaski Property"), located within the Area and desires to develop the Facility into several commercial op...
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