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RICHARD M. DALEY
MAYOR
OFFICE OF THE MAYOR
CITY OF CHICAGO
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, 1 transmit herewith ordinances establishing the 67th/Wentworth tax increment financing district.
Your favorable consideration of these ordinances will be appreciated.
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS APPROVING A REDEVELOPMENT PLAN FOR THE
67™ AND WENTWORTH TIF REDEVELOPMENT PROJECT AREA
WHEREAS, it is desirable and in the best interest of the citizens of the City of Chicago, Illinois (the "City") for the City to implement tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq as amended (the "Act"), for a proposed redevelopment project area to be known as the 67th and Wentworth Redevelopment Project Area (the "Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed redevelopment plan and project attached hereto as Exhibit A (the "Plan"); and
WHEREAS, by authority of the Mayor and the City Council of the City (the "City Council," referred to herein collectively with the Mayor as the "Corporate Authorities") and pursuant to Section 5/11-74.4-5(a) of the Act, the City's Department of Housing and Economic Development (formerly known as the Department of Community Development and referred to hereinafter as the "Department") established an interested parties registry and, on October 9, 2010, published in a newspaper of general circulation within the City a notice that interested persons may register in order to receive information on the proposed designation of the Area or the approval of the Plan; and
WHEREAS, notice of a public meeting (the "Public Meeting") was made pursuant to notices from the City's Commissioner of the Department, given on dates not less than 15 days before t...
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