AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS APPROVING A REDEVELOPMENT PLAN . FOR THE
DIVERSEY/CHICAGO RIVER REDEVELOPMENT PROJECT AREA
WHEREAS, it is desirable and in the best interest ofthe citizens ofthe City of Chicago, Illinois (the "City") forthe City to implement tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seg., as amended (the "Act"), for a proposed redevelopment project area to be known as the Diversey/Chicago River Redevelopment Project Area (the "Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed redevelopment plan and project attached hereto as Exhibit A (the "Plan"); and
WHEREAS, by authority of the Mayor and the City Council of the City (the "City Council," referred to herein collectively with the Mayor as the "Corporate Authorities") and pursuant to Section 5/11-74.4-5(a) of the Act, the City's Department of Planning and Development established an interested parties registry and, on April 2, 2016, published in a newspaper of general circulation within the City a notice that interested persons may register in order to receive information on the proposed designation of the Area or the approval of the Plan; and
WHEREAS, notice of a public meeting (the "Public Meeting") was made pursuant to notices from the City's Commissioner of the Department of Planning and Development, given on dates not less than 15 days before the date ofthe Public Meeting: (i) on March 18, 2016 by certified mail to all taxing districts having real property in the proposed Area and to all entities requesting that information that have taken the steps necessary to register to be included on the interested parties registry for the proposed Area in accordance with Section 5/11-74.4-4.2 of the Act, and (ii) with a good faith effort, on March 18, 2016 by regular mail to all residents and the last known persons who paid prop...
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