Office of the City Clerk - Record #: O2015-7192

• Record #: O2015-7192
• Type: Ordinance
• Status: Passed
• Intro date: 9/24/2015
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/14/2015
• Title: Approval of Amendment Number 1 to Cicero/Archer Tax Increment Financing (TIF) Redevelopment Plan and Project
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Cicero/Archer T.I.F. - Approval

Date	Journal Page Number	Action By	Action	Result
10/14/2015	8566	City Council	Passed	Pass
10/13/2015		Committee on Finance	Recommended to Pass	Pass
9/24/2015	4695	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
September 24, 2015









TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith ordinances authorizing amendments to various TIF Districts.

Your favorable consideration of these ordinances will be appreciated.

Mayor


Very truly yours,
ORDINANCE

WHEREAS, under ordinances adopted on May 17, 2000, and published in the Journal of Proceedings ofthe City Council (the "Journal") for such date at pages 31380 to 31518, and under the provisions ofthe Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11 - 74.4.1 et seq., as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved "The Cicero/Archer Avenue Tax Increment Financing Redevelopment Plan and Project" (the "Plan," (a copy of which is attached hereto as Exhibit 2) for a portion ofthe City known as the "Cicero/Archer Redevelopment Project Area" (the "Area") (such ordinance being defined herein as the "Approval Ordinance"); (ii) designated the Area as a "redevelopment project area" within the requirements ofthe Act (the "Designation Ordinance") and, (iii) adopted tax increment financing for the Area (the "Adoption Ordinance"); and
WHEREAS, the Approval Ordinance, the Designation Ordinance, and the Adoption Ordinance are collectively referred to in this ordinance as the "TIF Ordinances"; and
WHEREAS, Public Act 92-263, which became effective on August 7,2001, amended the Act to provide that, under Section 11-74.4-5(c) ofthe Act, amendments to a redevelopment plan which do not (1) add additional parcels of property to the proposed redevelopment project area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project cost set out in the redevelopm...