Office of the City Clerk - Record #: O2016-5712

• Record #: O2016-5712
• Type: Ordinance
• Status: Passed
• Intro date: 7/20/2016
• Current Controlling Legislative Body: Committee on Finance
• Final action: 9/14/2016
• Title: Second amendment of Tax Increment Financing (TIF) Neighborhood Improvement Program with Neighborhood Housing Services, Inc. to continue administration of 119th and Halsted, 119th/I-57, 63rd/Ashland, Central/West, Englewood Neighborhood and Midwest Programs
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Miscellaneous

Date	Journal Page Number	Action By	Action	Result
9/22/2016		City Council	Signed by Mayor
9/14/2016	30302	City Council	Passed	Pass
9/9/2016		Committee on Finance	Recommended to Pass	Pass
7/20/2016	28035	City Council	Referred

ORDINANCE

WHEREAS, the City of Chicago ("City"), pursuant to an ordinance adopted by the City Council on March 29, 2006, established a TIF Neighborhood Improvement program in the 119th and Halsted Redevelopment Project Area ("119th and Halsted Area") to fund improvements to single-family residential properties in the 119th and Halsted Area (the "119th and Halsted Program") and, through the Department of Planning and Development ("DPD"), entered into an agreement ("119th and Halsted NHS Agreement") with Neighborhood Housing Services of Chicago, Inc., an Illinois not-for-profit corporation ("NHS"), which 119th and Halsted NHS Agreement, as amended, continues in full force and effect, pursuant to which NHS is performing certain administrative services for the 119th and Halsted Program; and

WHEREAS, DPD desires to modify the 119th and Halsted Program to i) increase funding by an additional amount not to exceed $500,000, and ii) enter into an amendment to the 119th and Halsted NHS Agreement to enable NHS to perform certain administrative services for the modified 119th and Halsted Program (such amendment, the "Second Amended 119th and Halsted NHS Agreement," is attached hereto as Exhibit A); and

WHEREAS, the City's obligation to provide funds under the Second Amended 119th and Halsted NHS Agreement will be met through (i) incremental taxes deposited in the Special Tax Allocation Fund of the 119th and Halsted Area, or (ii) any other funds legally available to the City for this purpose;

WHEREAS, the City pursuant to an ordinance adopted by the City Council on March 29, 2006, established a TIF Neighborhood Improvement program in the 119th/l-57 Redevelopment Project Area ("119th/l-57 Area") to fund improvements to single-family residential properties in the 119th/l-57 Area (the "119th/l-57 Program") and, through DPD, entered into an agreement ("119th/l-57 NHS Agreement") with NHS, which 119th/l-57 NHS Agreement, as amended, continues in full force and effect, pursuant to...