Office of the City Clerk - Record #: O2014-8651

• Record #: O2014-8651
• Type: Ordinance
• Status: Passed
• Intro date: 10/8/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 11/5/2014
• Title: Redevelopment agreement with Community Builders, Inc. and Quad Communities Arts Recreation and Health Center LLC for multi-use community recreation center at 3520 S Cottage Grove Ave
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
11/5/2014	93701	City Council	Passed	Pass
11/3/2014		Committee on Finance	Recommended to Pass	Pass
10/8/2014	88996	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

October 8, 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 authorizing the execution of a redevelopment agreement for Community Builders, Inc.

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 November 4, 1998, the City Council (the "City Council") of the City of Chicago (the "City"): (1) approved and adopted a redevelopment plan (the "Bronzeville Redevelopment Plan") for the Bronzeville Redevelopment Project Area (the "Bronzeville Redevelopment Area") of the City; (2) designated the Bronzeville Redevelopment Area as a "redevelopment project area" pursuant to the Act; and (3) adopted tax increment allocation financing for the Bronzeville Redevelopment Area (the "TIF Ordinance"); and

WHEREAS, The Community Builders, Inc., a Massachusetts not-for-profit corporation ("TCB") and Quad Communities Arts Recreation and Health Center LLC, an Illinois limited liability company ("Quad LLC" and together with TCB, collectively the "Developer"), intend to develop certain property which is located within the Bronzeville Redevelopment Area at 3520 South Cottage Grove Avenue (the "Property"); and

WHEREAS, the Developer plans to commence and complete the construction of an approximately 30,000 square foot multi-use community recreation center for the benefit of the general public (the "Facility") on the Property. The Facility will be known as the Quad Communities Arts and Recreation Center. The Facility and related improvements are collectively referred to herein as the "Project."

WHEREAS...