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Record #: O2016-160   
Type: Ordinance Status: Passed
Intro date: 1/13/2016 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 2/10/2016
Title: Acquisition of property in 1600 block of W Edgewater Ave and W Hollywood Ave for benefit of Edgewater/Ashland Redevelopment Project Area
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Acquisition
Attachments: 1. O2016-160.pdf
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 authorizing an acquisition of property in the 1600 block of Edgewater and Hollywood.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,


ORDINANCE

WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, pursuant to ordinances adopted by the City Council of the City of Chicago
("City Council") on October 1, 2003 and published at pages 8260 through 8333 of the Journal of
the Proceedings of the City Council ("Journal'") for such date: (i) a certain redevelopment plan
and project (the "Plan") for the Edgewater / Ashland Redevelopment Project Area (the "Area")
was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended
(65 ILCS 5/11-74.4-1 et secj.) (the "Act"); (ii) the Area was designated as a redevelopment
project area pursuant to the Act; and (iii) tax increment allocation financing was adopted
pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined
in the Act) incurred pursuant to the Plan; and —

WHEREAS, it is necessary to acquire the parcels of property located in the Area listed on the attached Exhibit A (the "Acquisition Parcels"), which parcels also are located in the Area, in order to achieve the objectives of the Plan, which include, among other things: reducing or eliminating conditions that qualify the Area as a redevelopment area; and

WHEREAS, by Resolution No. 15-CDC:32, adopted by the Community Development Commission of the City of Chicago ("Commission") on November...

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