Office of the City Clerk - Record #: O2016-5669

• Record #: O2016-5669
• Type: Ordinance
• Status: Passed
• Intro date: 7/20/2016
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 9/14/2016
• Title: Sale of City-owned property at 6104 S Ellis Ave, 6123 S Ellis Ave, 507 E 60th St, and 535 E 60th St to Greenline Development, Inc.
• Sponsors: Emanuel, Rahm
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
9/14/2016	31193	City Council	Passed	Pass
9/9/2016		Committee on Housing and Real Estate	Recommended to Pass	Pass
7/20/2016	28038	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 20, 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 ordinances authorizing the sale of city-owned property.

Your favorable consideration of these ordinances will be appreciated.

Mayor

Very truly yours,
ORDINANCE

WHEREAS, the City of Chicago (the "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 (the "City Council") on May 12, 2010, and published in the Journal of the Proceedings of the City Council (the "Journal") of such date: (i) a certain redevelopment plan and project ("Original Plan") for the West Woodlawn Tax Increment Financing Redevelopment Project Area ("Area"), was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"); (ii) the Area was designated as a redevelopment project area pursuant to the Act; and (iii) tax increment 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, pursuant to an ordinance adopted by the City Council on November 17, 2010, and published in the Journal of the Proceedings of the City Council of such date, an amendment to the Plan was approved (the Original Plan, as amended, the "Plan"); and

WHEREAS, the Plan and the use of tax increment financing provide a mechanism to support new growth through leveraging private investment, and helping to finance land acquisition, demolition, remediation, site preparation and infrastructure for new development in the Area; and

WHEREAS, Greenline Developmen...