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Record #: F2015-108   
Type: Report Status: Placed on File
Intro date: 9/24/2015 Current Controlling Legislative Body:
Final action: 9/24/2015
Title: Revised Amendment No. 2 to Midwest Redevelopment Plan and Project for the Midwest Tax Increment Financing (TIF) Redevelopment Project and Plan
Sponsors: Dept./Agency
Topic: TAX INCREMENT FINANCING DISTRICTS - Midwest T.I.F. - Amendment
Attachments: 1. F2015-108.pdf
Department oe Law
CITY OF CHICAGO


August 6,2015
GS)



Ms. Susana Mendoza City Clerk
121 North LaSalle Street Chicago, Illinois 60602

Re: Revised Amendment No. 2 to the Midwest Redevelopment Plan and Project for the Midwest Tax Increment Financing Redevelopment Project and Plan

Dear Ms. Mendoza:

I enclose a proposed Revised Amendment No. 2 to the Midwest Redevelopment Plan and Project (the "Amendment") for the Midwest Redevelopment Project Area, Chicago, Illinois, dated August 5, 2015.

Please make the Amendment available in your office as of this date for public inspection in accordance with the requirements of Section 5/1 l-74.4-5(a) of the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et sea,., as amended. If you have any questions with respect to this matter, please call me at 744-0214.
Assistant Corporation Counsel

Enclosure

cc: Gloria Peralta (DPD) M. Susan Lopez (Law)




121 NORTH LASALLE STREET, ROOM 600, CHICAGO, ILLINOIS 60602
MIDWEST TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AND PLAN




Plan Adoption: May 17, 2000 Amendment No. 1: December 19, 2011



Amendment No. 2 July 29, 2015 Revised as of August 5, 2015


City of Chicago Rahm Emanuel, Mayor


Department of Planning and Development Andrew J. Mooney, Commissioner







Prepared by:
Johnson Research Group Inc. 343 South Dearborn Street, Suite 404 Chicago, Illinois 60604
Ernest R. Sawyer Enterprises, Inc. 100 North LaSalle Street, Suite 1515 Chicago, Illinois 60602

Midwest Tax Increment Financing Redevelopment Project and Plan

Amendment No. 2



EXECUTIVE SUMMARY

Tax Increment Financing ("TIF") is permitted by the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the "Act"). The Act provides a mechanism for municipalities, after meeting the requirements and procedures for establishing a redevelopment project area and a redevelopment plan, to mitigate blighting influences, encourage local growth and developmen...

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