Office of the City Clerk - Record #: O2013-843

• Record #: O2013-843
• Type: Ordinance
• Status: Passed
• Intro date: 2/13/2013
• Current Controlling Legislative Body: Committee on Finance
• Final action: 3/13/2013
• Title: Redevelopment agreement with Pullman Park Development-Phase 1B and Chicago Neighborhood Initiatives, Inc. for construction of small shop and mid-box retail space
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
3/23/2013		Office of the Mayor	Signed by Mayor
3/13/2013	47902	City Council	Passed	Pass
3/11/2013		Committee on Finance	Recommended to Pass	Pass
2/13/2013	46113	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

February 13,2013









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 with Pullman Park Development-Phase IB.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
Draft 11 February 2013


AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING PULLMAN PARK DEVELOPMENT, LLC AND CHICAGO NEIGHBORHOOD INITIATIVES, INC., JOINTLY AND SEVERALLY, AS DEVELOPER
AND AUTHORIZING A REDEVELOPMENT AGREEMENT AND
ISSUANCE OF CITY NOTES


ORDINANCE


WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on June 20, 2009 a certain redevelopment plan and project (the "Redevelopment Plan") for the North Pullman TIF Redevelopment Project Area (the "Redevelopment Area"); was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et §§3., as amended (the "Act"); and

WHEREAS, pursuant to an ordinance adopted by the City Council on June 30, 2009, the Redevelopment Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance (the "TIF Ordinance") adopted by the City Council on June 30, 2009 tax increment allocation financing was adopted pursuant to the Act as a means of financing certain redevelopment project costs (as defined in the Act) incurred pursuant to the Redevelopment Plan; and

WHEREAS, Pullman Park Development, LLC, an Illinois limited liability company presently owns certain property within the Redevelopment Area in the vicinity of 111lh Street and Doty Avenue (the "Property"). Pullman Park Development, LLC, together with its managing member: Chicago Neighborhood Initiatives, Inc., an Illinois not-for-profit corporation, jointly and s...