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Record #: O2015-750   
Type: Ordinance Status: Passed
Intro date: 1/21/2015 Current Controlling Legislative Body: Committee on Finance
Final action: 3/18/2015
Title: Intergovernmental agreement with Chicago Transit Authority for provision of Tax Increment Financing (TIF) assistance for rehabilitation of Blue Line Jefferson Park Station
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2015-750.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
January 21, 2015










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 authorizing the execution of intergovernmental agreements for TIF assistance with the Chicago Transit Authority.

Your favorable consideration of these ordinances will be appreciated.

Mayor

Very truly yours,
ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government as described in Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, and
WHEREAS, the Chicago Transit Authority (the "CTA") is a municipal corporation of the State of Illinois; and
WHEREAS, the City is authorized, under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and

WHEREAS, in accordance with the provisions ofthe Act, and pursuant to three ordinances adopted on September 9, 1998, an amending ordinance adopted on March 10, 1999, and an amending ordinance adopted on September 29, 1999, the City Council of the City (the "City Council"): (i) approved a certain redevelopment plan and project (as amended, the "Jefferson Park Plan") for the Jefferson Park Business District Redevelopment Project Area (as amended, the "Jefferson Park Area") within the City; (ii) designated the Jefferson Park Area as a redevelopment project area; and (iii) adopted tax increment allocation financing (the "Jefferson Park TIF Adoption Ordinance") for the Jefferson Park Area; and
WHEREAS, in accordance with the provisions ofthe Act, and pursuant to three ordinances adopted on September 9, 1998, the City Council: (i) approved a certain redevelopment plan and project (...

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