AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS AUTHORIZING THE NEGOTIATED SALE AND CONVEYANCE OF CITY PROPERTY TO UHLICH CHILDREN'S ADVANTAGE NETWORK AND DESIGNATING UHLICH CHILDREN'S ADVANTAGE NETWORK AS DEVELOPER
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City has established the Community Development Commission ("CDC") to, among other things, designate redevelopment areas, approve redevelopment plans, and recommend the sale of parcels located in redevelopment areas, subject to the approval of the City Council; and
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City on February 5, 1998, and published at pages 60833-60904 in the Journal of the Proceedings of the City Council ("Journal") of such date, a certain redevelopment plan and project (as now or hereafter amended, the "TIF Plan") for the Homan/Arthington Redevelopment Project Area ("TIF Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seg.) (the "Act"); and
WHEREAS, pursuant to an ordinance adopted by the City Council on February 5, 1998, and published at pages 60905-60910 in the Journal of such date, the TIF Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance adopted by the City Council on February 5, 1998, and published at pages 60911-60916 in the Journal of such date, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain TIF Area redevelopment project costs (as defined in the Act) incurred pursuant to the TIF Plan; and
WHEREAS, the City is the owner of the vacant land located at 1106-12 South Central Park Avenue, Chicago, Illinois 60624, as legally described o...
Click here for full text