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Record #: O2016-100   
Type: Ordinance Status: Passed
Intro date: 1/13/2016 Current Controlling Legislative Body: Committee on Finance
Final action: 2/10/2016
Title: Amendment No. 3 to Central West Redevelopment Project Area Tax Increment Financing (TIF) District Redevelopment Plan and Project
Sponsors: Emanuel, Rahm
Topic: TAX INCREMENT FINANCING DISTRICTS - Central West T.I.F. - Amendment
Attachments: 1. O2016-100.pdf
CHICAGO February 10, 2016
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
An ordinance approving Amendment Number 3 to the Central West Tax Increment Financing Redevelopment Plan and Project.
02016-100














Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith

This recommendation was concurred in by (a (viva voce vote^)
of members of the committee with dissenting vote(s)7~—


Respectfully submitted



(signed

Chairman


Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
January 13, 2016










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, 1 transmit herewith an ordinance amending the terms of the Central West TIF District.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,

/ I
I
I
ORDINANCE

WHEREAS, pursuant to ordinances adopted on February 16, 2000, and published in the Journal of Proceedings of the City Council (the "Journal") for such date at pages 25277-25432, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11 - 74.4.1 et seq., as amended (the "Act"), the City Council (the"Corporate Authorities") of the City of Chicago (the "City"): (i) approved "The Central West Redevelopment Project Area Tax Increment Financing District Redevelopment Plan and Project" (the "Original Plan") for a portion of the City known as the "Central West Redevelopment Project Area" (the "Original Area") (such ordinance being defined herein as the "Approval Ordinance"); (ii) designated the Original Area as a "redevelopment project area" within the requirements of the Act (the "Designation Ordinance") and, (iii) adopted tax increment financing for the Ar...

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