Office of the City Clerk - Record #: O2013-3710

• Record #: O2013-3710
• Type: Ordinance
• Status: Passed
• Intro date: 5/8/2013
• Current Controlling Legislative Body: Committee on Finance
• Final action: 6/5/2013
• Title: Intergovernmental agreement with Chicago Park District for provision of Tax Increment Financing (TIF) assistance for improvements to Park No. 484 at 4701 W 67th St
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Intergovernmental

Date	Journal Page Number	Action By	Action	Result
6/5/2013	53864	City Council	Passed	Pass
6/3/2013		Committee on Finance	Recommended to Pass	Pass
5/8/2013	52098	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR


May 8,2013










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 an intergovernmental agreement regarding TIF assistance for the Chicago Park District.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
ORDINANCE
I i
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 goverrment 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 proposed to undertake certain improvements to Park#484 (the "Project") generally located at 4701 West 67th Street, Chicago, Illinois and legally described in Exhibit A (the "Property"); and

WHEREAS, the Property lies within the boundaries of the 67th/Cicero 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 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 October 2,2002, and published in the Journal of the Proceedings of the City Council for said date ...