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...
Click here for full text