Office of the City Clerk - Record #: O2016-7368

• Record #: O2016-7368
• Type: Ordinance
• Status: Passed
• Intro date: 10/5/2016
• Current Controlling Legislative Body: Committee on Finance
• Final action: 11/1/2016
• Title: Amendment No. 5 to Stockyards Southeast Quadrant Industrial Redevelopment Area Tax Increment Allocation (TIF) Program Plan and Project
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Stockyards Southeast Quadrant T.I.F.

Date	Journal Page Number	Action By	Action	Result
11/1/2016	35322	City Council	Passed	Pass
10/31/2016		Committee on Finance	Recommended to Pass	Pass
10/5/2016	32536	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
October 5, 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 ordinance extending the Stockyards Southeast Quadrant TIF Plan.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
ORDINANCE

WHEREAS, pursuant to ordinances adopted on February 26, 1992, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 13145 to 13191, and under the provisions ofthe Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seg., as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved a redevelopment plan and project (the "Original Plan") for a portion of the City known as the "Stockyards Southeast Quadrant Industrial Redevelopment Project Area" (the "Area") (the "Original Plan Ordinance"); (ii) designated the Area as a "redevelopment project area" within the requirements ofthe Act (the "Designation Ordinance"); and (iii) adopted tax increment financing for the Area (the "TIF Adoption Ordinance" and together with the Original Plan Ordinance and the Designation Ordinance, referred to herein collectively as the "TIF Ordinances"); and

WHEREAS, the Corporate Authorities amended the Original Plan Ordinance pursuant to ordinances adopted on September 14, 1994, and published in the Journal for such date at pages 55579 to 55612 ("Amendment No. 1"), on January 10,1996, and published in the Journal for such date at pages 14470 to 14506 ("Amendment No. 2"), on March 19, 1997, and published in the Journal for such date at pages 41177 to 41220 ("Amendment No. 3"), and on July 30, 2014, and published in the Journal for such date at pages 84886 to 84889 ("Amendment No. 4," and together with the Original Plan, Amendment No. 1, Ame...