Office of the City Clerk - Record #: O2012-8221

• Record #: O2012-8221
• Type: Ordinance
• Status: Passed
• Intro date: 12/12/2012
• Current Controlling Legislative Body: Committee on Finance
• Final action: 1/17/2013
• Title: Thirty-eighth amending agreement with SomerCor 504, Inc. to administer Small Business Improvement Fund Program in Western Ave South Redevelopment Project Area
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Western Avenue (South) T.I.F. - Small Business Improvement Fund

Date	Journal Page Number	Action By	Action	Result
1/31/2013		Office of the Mayor	Signed by Mayor
1/17/2013	44849	City Council	Passed	Pass
1/15/2013		Committee on Finance	Recommended to Pass	Pass
12/12/2012	42301	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR


December 12,2012









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 reallocating TIF funds for the Western Avenue South Small Business Improvement Fund.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
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CHICAGO January 17, 2013 To the President and Members of the City Council: Your Committee on Finance having had under consideration



A communication recommending a proposed ordinance authorizing the reallocation of TIF Funds for the Western Avenue South Small Business Improvement Fund Program.

02012-8221









Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith

This recommendation was concurred in by of members of the committee with
(signed




Respectfully submitted
.0—4

Chairman
Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
ORDINANCE


WHEREAS, the City of Chicago ("City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects that eradicate blighted conditions and conservation area factors through the use of tax increment allocation financing for redevelopment projects; and

WHEREAS, by an ordinance adopted by the City Council of the City ("City Council") on July 21, 1999, and published in the Journal of Proceedings of the City Council ("Journal") for said date at pages 8307 to 8344, inclusive (the "Program Ordinance"), the City implemented a redevelopment program known as the Small Business Improvement Fund program (the "Program") to provide...