Office of the City Clerk - Record #: O2014-5169

• Record #: O2014-5169
• Type: Ordinance
• Status: Passed
• Intro date: 6/25/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 7/30/2014
• Title: Redevelopment agreement with Swedish Covenant Hospital
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
8/13/2014		City Council	Signed by Mayor
7/30/2014	84900	City Council	Passed	Pass
7/29/2014		Committee on Finance	Recommended to Pass	Pass
6/25/2014	82820	City Council	Referred

CHICAGO July 30, 2014
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
An ordinance authorizing the Commissioner of the Department of Planning and Development to enter into and execute a Redevelopment Agreement with Swedish Covenant Hospital.

02014-5169














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 vote^
of members of the committee with dissenting vote(s)T



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
June 25,2014









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 ordinance authorizing the execution of a redevelopment agreement for Swedish Covenant Hospital.

Your favorable consideration of this ordinance will be appreciated.

Mayor



Very truly yours,
ORDINANCE

WHEREAS, to induce certain redevelopment pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the "Act"), in accordance with the provisions of the Act, pursuant to ordinances adopted on April 2, 2014, the City Council (the "City Council") of the City of Chicago (the "City"): (1) approved and adopted a redevelopment plan (the "Foster/California Redevelopment Plan") for the Foster and California Redevelopment Project Area (the "Foster/California Redevelopment Area") of the City; (2) designated the Foster/California Redevelopment Area as a "redevelopment project area" pursuant to the Act; and (3) adopted tax increment allocation financing for the Foster/California Redevelopment Area (the "TIF Ordinance"); and

WHEREAS, Swedish Covenant Hospital, an Illinois not-for-profi...