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Record #: O2016-4004   
Type: Ordinance Status: Passed
Intro date: 5/18/2016 Current Controlling Legislative Body: Committee on Finance
Final action: 6/22/2016
Title: Intergovernmental agreement with Chicago Park District for provision of Tax Increment Financing (TIF) assistance for improvements to Park 526 at 6000 N Lincoln Ave
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2016-4004.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

May 18, 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, I transmit herewith an ordinance authorizing the execution of an intergovernmental agreement with the Chicago Park District regarding TIF assistance.

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,

ORDINANCE

WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois, and as such may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the Chicago Park District (the "Park District"), is an Illinois municipal corporation and a unit of local government under Article VII, Section 1 of the 1970 Constitution, of the State of Illinois, and as such is authorized to exercise control over and supervise the operation of all parks within the corporate limits of the City; and

WHEREAS, the Park District has proposed to make certain improvements to Park 526, on the premises which is commonly known as 6000 N. Lincoln Avenue (the "Project") and legally described in Exhibit A (the "Property"); and
WHEREAS, Park 526 is owned by the Metropolitan Water Reclamation District of Greater Chicago (the "MWRD") and is leased by the Park District for park use; and
WHEREAS, the Park District intends to expand its existing lease with MWRD in order to facilitate the Project; and

WHEREAS, the Property lies wholly within the boundaries of the Lincoln Avenue Redevelopment Area (as hereinafter defined); and

WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight th...

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