ORDINANCE
WHEREAS, the City Council of the City of Chicago (the "City") adopted ordinances in accordance with the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. (the "Act") on November 3,2004: (1) approving a tax increment redevelopment project and plan for the 69,h/Ashland Redevelopment Project Area (the "Area"); (2) designating the Area as a tax increment financing district; and (3) adopting tax increment allocation financing for the Area; and
WHEREAS, pursuant to Section 8 of the Act, when redevelopment projects costs for a redevelopment project area, including without limitation all municipal obligations financing redevelopment project costs incurred under the Act, have been paid, all surplus funds then remaining in the special tax allocation fund for a redevelopment project area designated under the Act shall be distributed by being paid by the municipal treasurer to the State of Illinois Department of Revenue, the municipality and the county collector; first to the Department of Revenue and the municipality in direct proportion to the tax incremental revenue received from the State of Illinois and the municipality, but not to exceed the total incremental revenue received from the State or the municipality less any annual surplus distribution of incremental revenue previously made; with any remaining funds to be paid to the county collector who shall immediately thereafter pay said funds to the taxing districts in the redevelopment project area in the same manner and proportion as the most recent distribution by the county collector to the affected districts of real property taxes from real property in the redevelopment project area; and
WHEREAS, furthermore, pursuant to Section 8 of the Act, upon the payment of all redevelopment project costs, the retirement of obligations, the distribution of any excess monies pursuant to Section 8 of the Act, and final closing of the books and records of the redevelopment project area, the municipality shall adopt an ordinance dissolving the special tax allocation fund for the redevelopment project area and terminating the designation of the redevelopment project area as a redevelopment project area under the Act; and
WHEREAS, furthermore, pursuant to Section 8 of the Act, municipalities shall notify affected taxing districts prior to November 1 if a redevelopment project area is to be terminated by December 31 of that same year; and
WHEREAS, the City has, prior to November 1, 2016, notified the affected taxing districts of the proposed termination of the Area as a redevelopment project area, in accordance with the provisions of the Act; and
WHEREAS, with respect to the Area, by December 31, 2016 all redevelopment projects for which redevelopment project costs have been paid or incurred shall be completed, all obligations relating thereto shall be paid and retired, and, subject to Section 3 of this Ordinance, all excess monies, if any, shall be distributed; and
WHEREAS, subject to Section 3 of this Ordinance, the City shall accomplish the final closing of the books and records of the Area; and
WHEREAS, in accordance with the provisions of Section 8 of the Act, the City desires to dissolve the special tax allocation fund for the Area (the "Special Fund") and terminate the designation of the Area as a redevelopment project area as of December 31, 2016; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
Section 1. The above recitals are incorporated herein and made a part hereof.
Section 2. The designation of the Area legally described on Exhibit A attached hereto and otherwise depicted on Exhibit B attached hereto shall be terminated as of December 31,2016. The list of parcels comprising the Area is attached hereto as Exhibit C.
i Section 3. Notwithstanding Section 2 hereof, it is anticipated that the City will continue to receive incremental property taxes for assessment year 2015/collection year 2016. Accordingly, although the designation of the Area is repealed by Section 2 hereof, the City will continue to maintain the Special Fund for the limited purpose of receiving any remaining incremental property taxes for assessment year 2015/collection year 2016. Pursuant to the Act, upon receipt of such taxes, the City shall calculate and declare surplus revenue, and shallreturn surplus revenue to the Cook County Treasurer in a timely manner for redistribution to the local taxing districts that overlap the Area. Thereupon, the Special Fund shall be considered to be dissolved.
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Section 4. The method of calculating and allocating property tax increment by the County of Cook pursuant to the Act for the parcels listed on Exhibit t shall be terminated from and after December 31, 2016.
Section 5. The Commissioner of the Department of Planning and Development (the "Commissioner"), or a designee thereof, is authorized to execute any documents and take any steps necessary to terminate the designation of the Area pursuant to this Ordinance and the Act on behalf of the City, and the previous execution of any documents and the previous taking of any steps necessary to terminate the designation of the Area pursuant to the Act by the Commissioner, or a designee thereof, on behalf of the City are hereby ratified. In connection with the termination of the designation of the Area the Commissioner is also authorized to amend or terminate any redevelopment agreements or similar obligations regarding properties in the Area as the Commissioner deems necessary or advisable.
Section 6. This Ordinance shall be in full force and effect upon its passage.
Section 7. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity of section, paragraph, clause or provision shall'not affect any of the other provisions of this Ordinance.
Section 8. All ordinances (including but not limited td'thejhree ordinances identified in the first recital hereof), resolutions or orders, or parts thereof, in conflict with the provisions of this Ordinance are hereby repealed to the extent of their conflict. * ■■ * -
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Exhibit A, Area Description (see attached)
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Exhibit "A".
69*/Ashland T.I.F. Legal Description.
All that part of the east half of the southeast quarter of Section 19, the west half of the southwest quarter of Section 20, the west half of the northwest quarter of Section 29 and the east half of the northeast quarter of Section 30, all in Township 38 North, Range 14 East of the Third Principal Meridian bounded and described as follows:
beginning at the southeast corner of Lot 24 in Block 6 of E. O. Lanphere's Addition to Englewood, a subdivision of Blocks 1 to 15 and the north half of Block 16 in George Sea's Subdivision of the east half of the southeast quarter of
Section 19, Township 38 North, Range 14 East of the Third Principal Meridian,
said southeast coriier of Lot 24 being also the point of intersection of the north
line of West 70th Street with the west line of South Mafshfield Avenue; thence
north along said west line of South Marshfield Avenue to the north line of West
69 th Street; thence eastalong said north line of West 69,h Street to the northerly
extension of the west line, of Lot 10 in Block 3 of Marston and Auger's
Subdivision of the southwest quarter of the southwest quarter of Section 20,
Township 38 North, Range 14 East of the Third Principal Meridian, said west line
of tot 10 being also the east line of South Justine Street; thence south along
saldttp^erf^ of South Justine Street to the easterly
extension of the nojrffi line of Lot 46 in Block 4 of said Marston and Auger's
Subdivision, said north line of Lot 46 being also the south line of the alley south
of West 69 th Street; therlce west along said easterly extension and the north line
of Lot46'in Block 4'of Marston and Auger's Subdivision to the west line thereof,
said west line of Lot 46 being also the east line of the alley east of South Ashland
Avenue] thence South along said east line of the alley east of South Ashland
Avenue to the south line of West 71" Street; thence west along said south line
of West 71" Street to the southerly extension of the east line of Lot "A" in Block
3 of the subdivision: Of Lots 42 to 48, both inclusive, of Block 13, Lots 1 to 7,
both inclusive, of Blocks 14 and 15, Lots 1 to 7 and 18 to 24, all inclusive, in
EloWl.^ in Blocks 9,10 and 11, Lots 1 to 7 and
42 to* 48, alHhcIuslvej in Blocks 6, 7and 8, Lots 18 and 31 in Blocks 1, 2 and 3 and Lots 25 to 31, both inclusive, in Block 4 of E. O. Lanphere's Addition to Englewood aforesaid, said east line of Lot "A" being also the west line of South Marshfield Avenue; thence north along said southerly extension and the west line of South Marshfield Avenue to the point of beginning at the southeast comer of Lot 24 in Block 6 of E. O. Lanphere's Addition to Englewood, aforesaid, all in the City of Chicago, Cook County, Illinois.
Exhibit B, Area Map (see attached)
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Legend
TjFDounbt]f Cj5^.Bi«kNua*«* H2£i Ws*W Btractm
150 Feci
'Bucdon I he Cook County Pcntunenl Index Numbwint (PIN) Syilcai
City of Chicago
Proposed 69th &
Ashland Tax Increment Finance District
July 2004
jp*^ JIT. TtUdaton 4 Ow/m"y
_i_J
Exhibit C, List of Parcels within the Area (see attached)
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DISTRICT PIN SEARCH
P1N# Year
20194230020000 2015
20194230030000 2015
20194230040000 ' 2015
20194310510000 2015
20194310610000. 2015
20194310620000 2015
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20203160020000 2015
:20203160p306.(j0 .■_ _ 2015
20203160040000 2015
20203160050000 2015
20203160060000 2015
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20203160100000 2015
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'20203165130000 ' 2015
20203160140000 2015
20203160150000' 2015
20203160160000 2015
20203160170000 2015
20203160180000 2015
20203160190000 2015
20203160200000 2015
20203160210000 2015
20203160220000 2015
20203160230000 2015
20203160440000 2015
20203240010000 2015
202C3240020000 2015
20203240030000 2015
DISTRICT PIN SEARCH
20203240040000 2015
,20203240050000 2015
20203240060000 2015
! 2'020324 0070000 •. 2015_
20203240080000 2015
20263240090000 • 2015
.20203240100000 2015
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:20203240120000 2015
[20203240^)00^.^; K J 2015
20203240140000 2015
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;2626324^i70b00 ' j . 2015
20203240180000 2015
12.020324041000.0 ;V.;'.;y . '2015
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9
RAHM EMANUEL MAYOR
OFFICE OF THE MAYOR
CITY OF CHICAGO
November 16, 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 terminating various TIF districts.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
CHICAGO December 14, 2016 To the President and Members of the City Council: Your Committee on Finance having had under consideration
An ordinance authorizing the termination of the 69th/Ashland Redevelopment Project Area.
02016-8434
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
This recommendation was concurred in by
of members of the committee with dissenting vote(s).
Respectfully submitted
Chairman
■^RPORATION COUNSEL