OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
September 24, 2015
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinances authorizing amendments to various TIF Districts.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS
APPROVING AMENDMENT #1 TO THE REDEVELOPMENT PLAN FOR THE 119™ STREET/l-57 REDEVELOPMENT PROJECT AREA
WHEREAS, the City of Chicago (the "City"), on November 6, 2002, the City Council of the City (the "City Council") adopted the following ordinances pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., as amended (the "Act"): (1) an ordinance approving a redevelopment plan (the "Original Plan") for a portion of the City known as the 119th Street/l-57 Redevelopment Project Area (the "Original Project Area") for the purpose of implementing tax increment allocation financing ("Tax Increment Allocation Financing"); (2) designating the Original Project Area as a redevelopment project area pursuant to the Act; and (3) adopting Tax Increment Allocation Financing for the Original Project Area pursuant to the Act; and
WHEREAS, it is desirable and in the best interests of the citizens of the City for the City to encourage development of areas located adjacent to the Original Project Area by expanding the boundaries of the Original Project Area and designating such expanded project area as a redevelopment project area under the Act to be known as the 119th Street and I-57 Redevelopment Project Area Amendment #1 (the "Expanded Area"); and
WHEREAS, the City desires further to supplement and amend the Original Plan for the Original Project Area to provide for the redevelopment of the Expanded Area; and
WHEREAS, the City has caused to be prepared an eligibility of the proposed additional p...
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