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Record #: SO2014-3246   
Type: Ordinance Status: Passed
Intro date: 4/2/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 4/30/2014
Title: Adoption of Tax Increment Allocation Financing (TIF) for 119th and Halsted 2014 Amended Redevelopment Project Area
Sponsors: Emanuel, Rahm
Topic: TAX INCREMENT FINANCING DISTRICTS - 119th/Halsted T.I.F. - Adoption
Attachments: 1. O2014-3246.pdf, 2. SO2014-3246.pdf
153


CHICAGO April 30. 2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration


One (1) ordinance authorizing Amendment #2 for the 119th/Halsted Tax Increment Financing Redevelopment Project Area.

C. An ordinance adopting Tax Increment Allocation Financing for the
119th/Halsted Tax Increment Financing 2014 Amended Redevelopment Project Area.

02014-3246




Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith

This recommendation was concurred in by (alviva voce vote")
of members of the committee with dissenting vote(s):

(signed



Respectfully submitted
Chairman
Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
April 2, 2014









TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance amending the 119,h/Halsted Redevelopment Plan and Project.

Your favorable consideration of this ordinance will be appreciated.

Mayor



Very truly yours,

AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE 119™ AND HALSTED TAX INCREMENT FINANCING 2014 AMENDED PROJECT AREA
WHEREAS, under ordinances adopted on February 6,2002, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 78512 to 78658, and under the provisions ofthe Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seg, as amended (the "Act"), the City Council (the "City Council") of the City of Chicago (the "City"): (i) approved a redevelopment plan and project (the "Original Plan") for a portion of the City known as "119th and Halsted Redevelopment Project Area" (the "2002 Original Project Area") (the "Original Pl...

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