Record #: O2015-7280   
Type: Ordinance Status: Passed
Intro date: 9/24/2015 Current Controlling Legislative Body: Committee on Finance
Final action: 10/14/2015
Title: Designation of expansion of 119th Street/I-57 Redevelopment Plan and Project Area
Sponsors: Emanuel, Rahm
Topic: TAX INCREMENT FINANCING DISTRICTS - 119th/I-57 T.I.F. - Designation
Attachments: 1. O2015-7280.pdf
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 of the 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 DESIGNATING THE EXPANDED 119™ STREET/1-57 REDEVELOPMENT PROJECT AREA AS A REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT


WHEREAS, it is desirable and in the best interest of the citizens of the City of Chicago, Illinois (the "City") for the City to implement tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., as amended (the "Act"), for a proposed amendment to the redevelopment project area known as the 119th Street/l-57 Redevelopment Project Area (the "Expanded Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed amended redevelopment plan and project (the "Amended Plan"); and

WHEREAS, a public meeting ("Public Meeting") was held in compliance with the requirements of Section 5/11 -74.4-6(e) of the Act on May 21, 2015 at 6 p.m. at Sheldon Heights Church, 11325 S. Halsted Street, Chicago, Illinois; and

WHEREAS, the Amended Plan (including the related eligibility report attached thereto as an exhibit and, if applicable, the feasibility study and the housing impact study) has been made available for public inspection and review pursuant to Section 5/11-74.4-5(a) of the Act since May 29, 2015 , being a date not less than 10 days before the meeting of the Community Development Commission of the City ("Commission") at which the Commission adopted Resolution 15-CDC-15 on June 9, 2015 fixing the time and place for a public heari...

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