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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