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Record #: O2014-7886   
Type: Ordinance Status: Passed
Intro date: 9/10/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 10/8/2014
Title: Designation of Bronzeville Redevelopment Project Area as Tax Increment Financing (TIF) District
Sponsors: Emanuel, Rahm
Topic: TAX INCREMENT FINANCING DISTRICTS - Bronzeville T.I.F. - Designation
Attachments: 1. O2014-7886.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
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 ordinance authorizing an amendment to the Bronzeville TIF District.

Your favorable consideration of this ordinance will be appreciated.

Mayor



Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING THE BRONZEVILLE 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. seg,., as amended (the "Act"), for a proposed amendment to the redevelopment project area known as the Bronzeville Redevelopment Project Area (the "Expanded Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed amended redevelopment plan and project (the "Amended Plan"); and

WHEREAS, a public meeting ("Public Meeting") was held in compliance with the requirements of Section 5/1 l-74.4-6(e) of the Act on May 1, 2014 at 6:00 p.m. at the James Doolittle Jr Elementary School at 535 E. 35th Street, Chicago, Illinois; and

WHEREAS, the Amended Plan (including the related eligibility report attached thereto as
an exhibit and, if applicable, the feasibility study and the housing impact study) has been made
available for public inspection and review pursuant to Section 5/1 l-74.4-5(a) of the Act since
May 2, 2014, being a date not less than 10 days before the meeting ofthe Community
Development Commission of the City ("Commission") at which the Commission adopted
Resolution 14-CDC-18 on May 13, 2014 fixing the time and place for a public hea...

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