Office of the City Clerk - Record #: O2014-4086

• Record #: O2014-4086
• Type: Ordinance
• Status: Passed
• Intro date: 4/30/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 5/28/2014
• Title: Amendment No. 2 to 47th/Halsted Tax Increment Financing (TIF) Plan
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - 47th/Halsted T.I.F.

Date	Journal Page Number	Action By	Action	Result
6/10/2014		City Council	Signed by Mayor
5/28/2014	80952	City Council	Passed	Pass
5/23/2014		Committee on Finance	Recommended to Pass	Pass
4/30/2014	78559	City Council	Referred

CHICAGO May 28,2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration
An ordinance approving Amendment #2 to the 47th and Halsted Tax Increment Financing Redevelopment Plan and Project.

02014-4086



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 (a (viva voce votej)
of members of the committee with dissenting vote(s)T

Chairman



Respectfully submitted
Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
April 30, 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 47th / Halsted TIF Plan.

Your favorable consideration of this ordinance will be appreciated.

Mayor



Very truly yours,
S:\SHARED\Finance\47,h and Halsted TIF Amendment\Amendment No. 2tord 2.doc
ORDINANCE

WHEREAS, under ordinances adopted on May 29, 2002, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 85676 to 85904, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 etseg, as amended (the "Act"), the City Council (the "Corporate Authorities") 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 the "47th and Halsted Redevelopment Project Area" (the "Area"); (ii) designated the Area as a "redevelopment project area" within the requirements of the Act; and (iii) adopted tax increment financing for the Area (the foregoing three ordinances are collectively referred to herein as the "TIF Ordinances"); and

WHEREAS, under an ordinance adopted on November 13, 20...