Office of the City Clerk - Record #: O2012-7239

• Record #: O2012-7239
• Type: Ordinance
• Status: Passed
• Intro date: 10/31/2012
• Current Controlling Legislative Body: Committee on Finance
• Final action: 11/15/2012
• Title: Redevelopment agreement with DeVry, Inc. for constructing tenant improvements to build-out space for on-line operations facility
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
11/27/2012		Office of the Mayor	Signed by Mayor
11/15/2012	40545	City Council	Passed	Pass
11/14/2012		Committee on Finance	Recommended to Pass	Pass
10/31/2012	36139	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR



October 31, 2012









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 execution of a redevelopment agreement for DeVry, Inc

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,

DeVry Inc RDA Ordinance 10-05-2012.wpd

AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING DEVRY INC., AS DEVELOPER AND AUTHORIZING A REDEVELOPMENT AGREEMENT


ORDINANCE

WHEREAS, under an ordinance adopted by the City Council ("City Council ") of the City of Chicago (the "City ") on November 15, 2006 and published at pages 92019 through 92099 of the Journal of the Proceedings of the City Council (the "Journal ") of such date, a certain redevelopment plan and project (the "Redevelopment Plan ") for the LaSalle Central TIF Redevelopment Project Area (the "Redevelopment Area") was approved under the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq (2000 State Bar Edition), as amended (the "Act"); and

WHEREAS, under an ordinance adopted by the City Council on November 15, 2006 and published at pages 92100 through 92107 of the Journal of such date, the Redevelopment Area was designated as a redevelopment project area under the Act; and

WHEREAS, under an ordinance (the "TIF Ordinance") adopted by the City Council on November 15, 2006 and published at pages 92108 through 92114 of the Journal of such date, tax increment allocation financing was adopted under the Act as a means of financing certain Redevelopment Area redevelopment project costs (as defined in the Act) incurred under the Redevelopment Plan; and

WHEREAS, the ordinances approving the Redevelopment Plan, designating the Redevelopment Area, and adopting the TIF Ordinance were amended and corrected in ordinances dated February 7, 2007, pu...