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,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS ADOPTING TAX INCREMENT ALLOCATION FINANCING FOR THE EXPANDED MIDWEST TAX INCREMENT FINANCING REDEVELOPMENT
PROJECT AREA
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 amended redevelopment project area to be known as the Midwest Tax Increment Financing Redevelopment Project Area Amendment #2 (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, the Community Development Commission ofthe City has forwarded to the City Council ofthe City ("City Council") a copy of its Resolution 15-CDC-23, recommending to the City Council the adoption of Tax Increment Allocation Financing for the Expanded Area, among other things; and
WHEREAS, as required by the Act, the City has heretofore approved the Amended Plan, which was identified in AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS, APPROVING THE MIDWEST TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AND PLAN AMENDMENT NO. 2 and has heretofore designated the Expanded Area as a redevelopment project area by passage of AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS, DESIGNATING THE EXPANDED MIDWEST TAX INCREMENT FINANCING REDEVELOPMENT PROJECT AREA AS A REDEV...
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