Office of the City Clerk - Record #: O2014-7869

• Record #: O2014-7869
• Type: Ordinance
• Status: Passed
• Intro date: 9/10/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/8/2014
• Title: Designation of Washington Park Redevelopment Project Area as Tax Increment Financing (TIF) District
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Washington Park T.I.F. - Designation

Date	Journal Page Number	Action By	Action	Result
10/8/2014	91573	City Council	Passed	Pass
10/6/2014		Committee on Finance	Recommended to Pass	Pass
9/10/2014	86800	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
September 10,2014









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 ordinances establishing the Washington Park TIF District.

Your favorable consideration of these ordinances will be appreciated.

Mayor



Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING THE WASHINGTON PARK REDEVELOPMENT PROJECT AREA AS A REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT


WHEREAS, it is desirable and in the best interest of the citizens of the City of Chicago, Illinois (the "City") for the City to implement tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., as amended (the "Act"), for a proposed redevelopment project area to be known as the Washington Park Redevelopment Project Area (the "Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed redevelopment plan and project (the "Plan"); and

WHEREAS, the Plan (including the related eligibility report attached thereto as an exhibit and, if applicable, the feasibility study and the housing impact study) was made available for public inspection and review pursuant to Section 5/11-74.4-5(a) of the Act since May 30, 2014, being a date not less than 10 days before the meeting ofthe Community Development Commission ofthe City ("Commission") at which the Commission adopted Resolution 14-CDC-20 on June 10, 2014, fixing the time and place for a public hearing ("Hearing"), at the offices ofthe City Clerk and the City's Department of Planning and Development; and

WHEREAS, pursuant to Section 5/11-74.4-5(a) ofthe Act, notice ofthe availability ofthe Plan (including the related eligibility report attached thereto as an exhibit and, if applicable, the feasi...