Office of the City Clerk - Record #: SO2013-5692

• Record #: SO2013-5692
• Type: Ordinance
• Status: Passed
• Intro date: 7/24/2013
• Current Controlling Legislative Body: Committee on Finance
• Final action: 9/11/2013
• Title: Intergovernmental agreement with Chicago Park District for provision of Tax Increment Financing (TIF) assistance for expansion of park improvements to playgound equipment at Montgomery A. Ward Park
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Intergovernmental

Date	Journal Page Number	Action By	Action	Result
9/11/2013	58855	City Council	Passed as Substitute	Pass
9/6/2013		Committee on Finance	Recommended to Pass	Pass
7/24/2013	57294	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR



July 24, 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 with the Chicago Park District for the provision of Tax Increment Financing funds.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
ORDINANCE

WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) ofthe 1970 Constitution ofthe 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 ofthe 1970 Constitution, ofthe 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 a park expansion, including the construction of a dog-friendly area and certain improvements to the playground equipment, at the public park variously known as Montgomery A. Ward Park, Erie Park, or Park 511 (the "Project"), with a street address of 630 N. Kingsbury Street, Chicago, the premises of which are legally described in Exhibit A (the "Property"); and

WHEREAS, the Property lies wholly within the boundaries of the Chicago/Kingsbury 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 r...