OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 18,2015
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 an amendment of the Midwest TIF District.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
i
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS APPROVING THE MIDWEST TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AND PLAN AMENDMENT NO. 2
WHEREAS, on May 17, 2000, the City Council of the City of Chicago (the "City Council") adopted the following ordinances pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. sea, as amended (the "Act"): (1) an ordinance approving a redevelopment plan, as revised on April 14, 2010 and amended on May 9, 2012 (collectively, the "Original Plan") for a portion of the City of Chicago (the "City") known as the Midwest Tax Increment Financing 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 Midwest Tax Increment Financing Redevelopment Project Area Amendment #2 (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; a...
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