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This record contains private information, which has been redacted from public viewing.
Record #: SO2014-5740   
Type: Ordinance Status: Passed
Intro date: 6/25/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 7/30/2014
Title: First amendment to redevelopment agreement with Chicago Manufacturing Campus LLC
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Redevelopment
Attachments: 1. O2014-5740.pdf, 2. SO2014-5740.pdf

CHICAGO July 30, 2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration
A communication recommending a proposed substitute ordinance concerning the authority to amend a redevelopment agreement with Chicago Manufacturing Campus, LLC.

02014-5740

Amount of Notes
not to exceed: $14,571,785














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 (afviva voce vote")
of members of the committee with dissenting vote(s)T

(signed'



Respectfully submitted
Chairman

SUBSTITUTE


AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS AUTHORIZING AN AMENDMENT TO REDEVELOPMENT AGREEMENT


ORDINANCE


WHEREAS, pursuant to an ordinance adopted by the City Council (the "City Council") of the City of Chicago (the "City") on December 21, 1994, and published at pages 63452 - 63499 of the Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Plan") for the 126th and Torrence Redevelopment Project Area (the "Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1, et seq.) (the "Act"); and

WHEREAS, pursuant to an ordinance adopted by the City Council on December 21, 1994, and published at pages 63495 and 63500 - 63504 of the Journal of such date, the Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance (the "TIF Ordinance") adopted by the City Council on December 21, 1994, and published at pages 63505 - 63510 ofthe Journal of such date, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and

WHEREAS, pursuant to an ordinance (the "RDA Ordinance") adopted by the City Counc...

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