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Record #: O2013-5601   
Type: Ordinance Status: Passed
Intro date: 7/24/2013 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/11/2013
Title: Negotiated sale and conveyance of City-owned property at 10736 S Michigan Ave to The Blessed Child for expansion of headquarters and community services
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2013-5601.pdf
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS AUTHORIZING THE NEGOTIATED SALE AND CONVEYANCE OF CITY PROPERTY TO THE BLESSED CHILD AND DESIGNATING THE BLESSED CHILD 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 January 16, 2002, and published at pages 76911-77058 in the Journal of the Proceedings of the City Council ("Journal") of such date, a certain redevelopment plan and project (as amended, the "TIF Plan") for the Roseland/Michigan 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 January 16, 2002, and published at pages 77059-77076 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 January 16, 2002, and published at pages 77077-77093 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 real property and improvements located at 10736 S. Michigan Avenue, Chicago, Illinois 60628, as legally described on Exhibit A attached hereto (the "City Prop...

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