Office of the City Clerk - Record #: SO2014-9060

• Record #: SO2014-9060
• Type: Ordinance
• Status: Passed
• Intro date: 11/5/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 11/19/2014
• Title: Amendment No. 5 to Belmont/Cicero Tax Increment Financing (TIF) Redevelopment Plan and Project
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Belmont/Cicero T.I.F. - Amendment

Date	Journal Page Number	Action By	Action	Result
12/1/2014		City Council	Signed by Mayor
11/19/2014	98397	City Council	Passed as Substitute	Pass
11/18/2014		Committee on Finance	Recommended to Pass	Pass
11/5/2014	93508	City Council	Referred

SUBSTITUTE ORDINANCE
WHEREAS, under ordinances adopted on January 12, 2000, and published in the Journal of Proceedings of the City Council (the "Journal") for such date at pages 22866 to 22995, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11 - 74.4.1 et seg., as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved "The Belmont/Cicero Avenue Tax Increment Financing Redevelopment Plan and Project" (the "Original Plan") for a portion of the City known as the "Belmont/Cicero Redevelopment Project Area" (the "Area") (such ordinance being defined herein as the "Approval Ordinance"); (ii) designated the Area as a "redevelopment project area" within the requirements of the Act (the "Designation Ordinance") and, (iii) adopted tax increment financing for the Area (the "Adoption Ordinance"); and
WHEREAS, under an ordinance adopted on May 17, 2000 and published in the Journal for such date at pages 32000 to 32102 (the "2000 Amended Approval Ordinance"), the Corporate Authorities approved an amendment to the Original Plan entitled "Revision Number 2 Belmont/Cicero Tax Increment Financing Redevelopment Plan and Project" ("Revision Number 2"); and
WHEREAS, under an ordinance adopted on May 14, 2008 and published in the Journal for such date at pages 26744 to 26854 (the "2008 Amended Approval Ordinance"), the Corporate Authorities approved an amendment to the Original Plan entitled "Revision Number 3 Belmont/Cicero Tax Increment Financing Redevelopment Plan and Project" ("Revision Number 3"); and
WHEREAS, under an ordinance adopted on July 30, 2014 and published in the Journal for such date at pages 84896 to 84899 (the "2014 Amended Approval Ordinance", together with the 2000 Amendment Approval Ordinance and the 2008 Amendment Approval Ordinance, the "Amended Approval Ordinances), the Corporate Authorities approved an amendment to the Original Plan entitled "Revision Number 4 ...