ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the Chicago Park District (the "Park District") is an Illinois municipal corporation and a unit of local government under Article VII, Section 1 of the 1970 Constitution of the State of Illinois and, as such, is authorized to exercise control over and supervise the operation of all parks within the corporate limits ofthe City; and
WHEREAS, the Park District desires to make improvements to Kosciusko Park located at 2732 North Avers Avenue, legally described in Exhibit A (the "Property"), including improvements to the fieldhouse, playground and ballfield (collectively the "Project"); and
WHEREAS, the Project lies wholly within the boundaries of the Pulaski Industrial Corridor Redevelopment Project Area (as hereinafter defined); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 ef seq., as amended from time-to-time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, in accordance with the provisions of the Act, and pursuant to ordinances adopted on June 9, 1999, and published in the Journal ofthe Proceedings ofthe City Council of the City for said date, and amended on October 3, 2012 and July 30, 2014, the City Council: (i) approved and adopted a redevelopment plan and project (the "Plan") for a portion of the City known as the "Pulaski Industrial Corridor Redevelopment Project Area" (the "Pulaski Industrial Corridor Redevelopment Area"); (ii) designated the Pulaski Industrial Corridor Redevelopment Area as a "redevelopment project area;" and (iii) ad...
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