Office of the City Clerk - Record #: O2013-2570

• Record #: O2013-2570
• Type: Ordinance
• Status: Passed
• Intro date: 4/10/2013
• Final action: 4/10/2013
• Title: Intergovernmental agreement with Chicago Park District for provision of Tax Increment Financing (TIF) assistance for rehabilitation and improvement of property at 1801 S Indiana Ave
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Intergovernmental

Date	Journal Page Number	Action By	Action	Result
5/30/2013	49520	Office of the Mayor	Signed by Mayor
5/8/2013	52141	City Council	Passed	Pass
5/6/2013		Committee on Finance	Recommended to Pass	Pass

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 of the City; and

WHEREAS, the Park District has undertaken to rehabilitate and improve a parcel of land known as the Chicago Women's Park (the "Project"), which is generally located at 1801 South Indiana Avenue, Chicago, Illinois and legally described in Exhibit A (the "Property"); and
WHEREAS, the Property lies wholly within the boundaries of the Near South Redevelopment 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 et seg., 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 August 3, 1994 and published in the Journal of the Proceedings of the City Council (the "Journal") for said date at pages 54930 to 55146, the City Council: (i) approved and adopted a redevelopment plan and project (the "Plan") for a portion of the City known as the "Near South Redevelopment Project Area" (the "Near South Redevelopment Area"); (ii) designated the Near South Redevelopment Area as a "redevelopment project area"; and (iii) adopted tax increment allocation financing for the Near South Redevelopment Area; ...