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Record #: O2013-7599   
Type: Ordinance Status: Passed
Intro date: 10/16/2013 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 11/13/2013
Title: Sale of City-owned property at 1706 W 95th St to Optimo Holdings, LLC and redevelopment agreement for rehabilitation of building to house bespoke workshop
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2013-7599.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
October 16,2013










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 ordinances authorizing the sale of city-owned property.

Your favorable consideration of these ordinances will be appreciated.

Very truly yours,




Mayor
ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government by virtue of the provisions of the Constitution ofthe 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 and recommend the sale of parcels located in redevelopment areas, subject to the approval ofthe City Council; and

WHEREAS, pursuant to an ordinance adopted by the City Council of the City (the "City Council") on July 13, 1995 and published at pages 3914 through 3971 in the Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project ("Original Redevelopment Plan") for the 95th/Western Tax Increment Financing Redevelopment Project Area ("Redevelopment Area"), was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et sea,.) (the "Act"); and

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r » m. M. M—j A x._M_published at pages 3972 through 3979, and page 3980, in the Journal of such date, the Redevelopment Area was designated as a redevelopment project area pursuant to the Act; ...

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