Record #: O2016-8573   
Type: Ordinance Status: Passed
Intro date: 11/30/2016 Current Controlling Legislative Body:
Final action: 11/30/2016
Title: Amendment No. 1 to Devon/Sheridan Tax Increment Financing (TIF) plan and area
Sponsors: Emanuel, Rahm
Topic: TAX INCREMENT FINANCING DISTRICTS - Devon/Sheridan T.I.F. - Amendment
Attachments: 1. O2016-8573.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 30, 2016








TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

I transmit herewith seven ordinances regarding the Red and Purple Modernization (RPM) Program.

Your favorable consideration of these ordinances will be appreciated.

Mayor


Very truly yours,



ORDINANCE


WHEREAS, Under ordinances adopted on March 31, 2004 and published in the Journal of the Proceedings of the City Council of the City of Chicago for such date (the "Journal of Proceedings") at pages 20510 - 20620, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1, et seq, as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved an ordinance approving a redevelopment plan and project (the "Redevelopment Plan") for a portion of the City known as the "Devon/Sheridan Redevelopment Project Area" (such ordinance being defined in this ordinance as the "Plan Ordinance", and such area as described in the Plan Ordinance being defined in this ordinance as the "Original Area"); (ii) approved an ordinance designating the Original Area as a "redevelopment project area" within the requirements of the Act (the "Designation Ordinance"); and, (iii) approved an ordinance adopting tax increment financing for the Original Area (the "TIF Adoption Ordinance") (the Plan Ordinance, the Designation Ordinance, and the TIF Adoption Ordinance are collectively defined in this ordinance as the "Devon/Sheridan TIF Ordinances"); and

WHEREAS, It is desirable and in the best interest of the citizens of the City for the City to amend the Redevelopment Plan and to decrease the Original Area to exclude certain parcels by adopting "Amendment No. 1 to the Devon/Sheridan Redevelopment Project Area Tax Increment Finance District Eligibility Study, Redevelopment Plan and Project," which is attached as Exhibit A ("Amendment No. 1", with (i) the Redevelopment Plan, as amended by Amendment No. 1, defined in this ordinance as the "Amended Plan", and (ii) the Original Area, as amended by Amendment No. 1, defined in this ordinance as the "Amended Area"); and

WHEREAS, Section 5/11 -74.4-5(c) of the Act provides that after a municipality has by ordinance approved a redevelopment plan and designated a redevelopment project area, it may amend the plan and redevelopment project area without further public hearing and related notices and procedures including the convening of a joint review board as set forth in the Act; provided that the municipality gives notice of any such changes by mail to each affected taxing district and registrant on the interested parties registry, and by publication in a newspaper of general circulation within the affected taxing district, which notice by mail and by publication shall each occur not later than ten (10) days following the adoption by ordinance of such changes, so long as the amendment does not: (1) add additional parcels of property to the redevelopment project area, (2) substantially affect the general land-uses in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project costs set out in the redevelopment plan by more than five percent (5%) after adjustment for inflation from the date the plan was adopted, (5) add additional redevelopment project costs to the itemized list of redevelopment project costs set out in the redevelopment plan, or (6) increase the number of inhabited residential units to be displaced from the redevelopment project area, as measured from the time of creation of the redevelopment project area, to a total of more than ten (10); and

WHEREAS, Amendment No. 1 does not include any of the changes listed in items (1) through (6) stated in the previous recital, and, therefore, does not necessitate the holding of a public hearing, the convening of a joint review board or related notices and procedures; and

WHEREAS, The Corporate Authorities have reviewed Amendment No.1 and any such other matters or studies as the Corporate Authorities have deemed necessary or appropriate to make

EXHIBIT A






CITY OF CHICAGO

Devon/Sheridan Redevelopment Project Area
Tax Increment Finance District
Eligibility Study, Redevelopment Plan and Project


October 23, 2003; Revised January 21, 2004

Amendment No. 1: November 14, 2016

City of Chicago Rahm Emanuel Mayor



















CITY OF CHICAGO Devon/Sheridan Redevelopment Project Area
Tax Increment Financing Redevelopment Plan and Project Amendment No. 1

Table of Contents
Table of Contents i
Executive Summary|910|Modifications to the Original Plan|910|Section 1: Executive Summary|910|Section 2: Introduction|910|Section 3: Eligibility Analysis|910|TABLE 1: Percent Change in Annual Equalized Assessed Valuation (EAV)|910|Section 4: Redevelopment Project & Plan|910|Section 5: Financial Plan|910|Section 6: Required Findings and Tests|910|Appendix 1: Boundary and Legal Description (Chicago Guarantee Survey Company) 9
Appendix 2: Eligibility Factors by Block Table 9
Appendix 4: Summary of EAV (by PIN) 9
Attachments 10
Amended Map 1: Community Context 10
Amended Map 2: Boundary Map 11
Amended Map 3: Existing Land Use 12
Amended Map 4A: Eligibility Factors: Age 13
Amended Map 4B: Eligibility Factors: Deterioration 14
Amended Map 4C: Eligibility Factors: Inadequate Utilities 15
Amended Map 5: Proposed Land Use '. 16
Amended Map 6: Community Facilities 17
Amended Appendix 1: Boundary and Legal Description (Chicago Guarantee Survey Company - Amended by
Christopher B. Burke Engineering Ltd.) 18
Amended Appendix 4: Summary of EAV (by PIN) 25
Appendix 5: Original Devon/Sheridan Redevelopment Project Area Tax Increment Finance District Eligibility Study,
Redevelopment Plan and Project 31


HB^ PT) D ' J S. B. FRIEDMAN & COMPANY
BMi ^ JD jrriCQrjll3.Il . 221N. LaSalle St. Suite 820 Chicago, IL 60601
fm Development Advisors T: 312.424.4250 f: 312.424.4262
E: info@sbfriedman.com
VISION | ECONOMICS STRATEGY I FINANCE I IMPLEMENTATION WWW.Sbfriedman.COm


SB FRIEDMAN | DEVELOPMENT ADVISORS

Devon/Sheridan Redevelopment Project Area Tax Increment Financing Redevelopment Plan and Project
Amendment No. 1

Executive Summary

To induce redevelopment, pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 etseq., as amended from time to time (the "Act"), the City Council of the City of Chicago (the "City") adopted three ordinances on March 31, 2004, approving the Devon/Sheridan Redevelopment Project Area Tax Increment Finance District Eligibility Study, Redevelopment Plan and Project (the "Original Plan"), designating the Devon/Sheridan Redevelopment Project Area (the "Original RPA") as a redevelopment project area under the Act, and adopting tax increment allocation financing for the Original RPA. The Original Plan was initially completed in October 2003 and revised in January 2004, and is attached as Appendix 5.

The Original Plan is being amended through this document ("Amendment No. 1") to:
Remove eight (8) real estate tax parcels from the Original RPA for purposes of including those parcels in the Red and Purple Modernization Phase One Project Redevelopment Project Area; and
Update the following components of the Original Plan to reflect the removal of the eight parcels:

Descriptions of the Original RPA
Eligibility findings
Maps
Summary of Equalized Assessed Value (EAV) by PIN
Boundary legal description.

The Original RPA minus the eight parcels proposed to be removed through Amendment No. 1 are referred to as the "Devon/Sheridan RPA as Amended" or "RPA as Amended." The area to be excluded from the Original Plan can be generally described as follows:

Parcels on the west side of North Broadway, from West Rosemont Avenue on the south to a line 250' south of West Devon Avenue on the north.

Under Amendment No. 1, tax parcels identified by the following property index numbers (PINs) are to be excluded from the Original Plan:
14-05-107-017-0000
14-05-107-018-0000
14-05-107-019-0000
14-05-107-020-0000

14-05-107-021-0000
14-05-107-022-0000
14-05-107-023-0000
14-05-107-024-0000
To accomplish the exclusion of the eight tax parcels from the Original RPA, the changes below are made to the Original Plan, all following the format of the Original Plan.



SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1
Modifications to the Original Plan Cover Page

Under the date of the Original Plan, insert the following text:
Amendment No. 1: November 14, 2016 Section 1: Executive Summary

Any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in Section 1 of the Original Plan should be understood to refer to the RPA as Amended, except as noted.

Under Section 1, replace the first paragraph with the following:

In December of 2002, 5. B. Friedman & Company was engaged to conduct a Tax Increment Financing Eligibility Study and prepare a Redevelopment Plan and Project for the Original Devon/Sheridan Redevelopment Project Area. This report details the eligibility factors found within the Original Devon/Sheridan Redevelopment Project Area (the "Original RPA") Tax Increment Financing ("TIF") District in support of its designation as a "conservation area" in 2002 within the definitions set forth in the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the "Act"), and thus in support of its designation as the Original RPA. This report also contains the Redevelopment Plan and Project for the Original RPA.

Under Section 1, replace the first sentence of the second paragraph with the following:

The Original RPA was established by the City of Chicago in 2003 and consisted of 260 tax parcels on 29 blocks and contained approximately 69.7 acres of land located within the Edgewater and Rogers Park Community Areas.

Under Section 1, insert the following text after the second paragraph:

In 2016, the City seeks to amend the Devon/Sheridan Tax Increment Financing Redevelopment Plan and Project (the "Original Plan") to remove eight (8) tax parcels for purposes of including those parcels in the Red and Purple Modernization Phase One Project Redevelopment Project Area. These eight parcels will remove 1.8 acres from the Original RPA. Within this Amendment No. 1 document, all references to the "Devon/Sheridan RPA," "Project Area" or "RPA" shall be understood to mean the amended area excluding these 1.8 acres of improved land (the "RPA as Amended"), except where noted. All references to the "Original RPA" shall be understood to mean the 69.7 acres originally designated in 2003.

This report updates the eligibility factors found within the Original RPA to reflect facts and figures describing the RPA as Amended in support of its designation as a "conservation area" within the definitions set forth in the Act.



SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1

Under Section 1, under the Determination of Eligibility subheading, replace the first sentence of the first paragraph with the following:

This report concludes that the Devon/Sheridan RPA as Amended is eligible for Tax Increment Financing ("TIF") designation as a "conservation area" because 86% of the structures in the area are more than 35 years in age, and because the following three (3) eligibility factors were found to be present to a major extent and reasonably distributed through the RPA as Amended in 2003:

Under Section 1, under the Determination of Eligibility subheading, insert the following after the second paragraph:

SB Friedman finds that the Eligibility Study that is part of the Original Plan is not affected adversely by the removal of eight tax parcels identified in this Amendment No. 1 document, as all the qualifying eligibility factors necessary for the approval of the Original Plan were present to a meaningful extent and reasonably distributed throughout the Original RPA, and these factors continue to be present to a meaningful extent and reasonably distributed throughout the RPA as Amended after removal of the eight tax parcels. Therefore, the Original Plan has been updated to replace facts and figures describing the Original RPA in 2003 with facts and figures describing the RPA as Amended in 2003 to the extent possible.

Under Section 1, under the Required Findings subheading, replace the last two sentences of the second paragraph with the following:

The compound annual growth rate of EAV in the Devon/Sheridan RPA as Amended was 4.74% between 1997 and 2002. This is 25% lower than the 6.33% growth experienced by the City of Chicago during this period, 45% lower than the 8.70% growth rate experienced by Lakeview Township, and 21% lower than the 5.97% growth rate experienced by Rogers Park Township.

Under Section 1, under the Required Findings subheading, insert the following after the last sentence of the third paragraph:

Figures cited in this paragraph to quantify the lack of growth through private enterprise within the Original RPA were unchanged by the removal of eight parcels in Amendment No. 1.

Section 2: Introduction

Any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in Section 2 of the Original Plan should be understood to refer to the RPA as Amended, except as noted.

Under Section 2, under the Study Area subheading, replace the second paragraph with the following:

The community context of the Devon/Sheridan RPA as Amended is detailed on Amended Map 1.



SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1


Under Section 2, under the Study Area subheading, replace the third paragraph with the following:

The RPA as Amended consists of 252 tax parcels on 29 blocks and contains approximately 67.8 acres of land located within both the Edgewater and Rogers Park Community Areas of the City of Chicago. Of the 252 tax parcels, approximately 100 are condominiums. The RPA as Amended is roughly linear in shape along east-west and north-south arterials. It is generally the frontage along the east and west sides of North Sheridan Road roughly from West Devon Avenue on the south to West Pratt Boulevard on the north, including the frontage along the west side of North Broadway from West Devon Avenue to a point 250' south of West Devon Avenue; and the frontage along the north and south sides of West Devon Avenue from North Clark Street on the west and Lake Michigan on the east. The RPA as Amended is located wholly within the City of Chicago.

Under Section 2, under the Study Area subheading, replace the first sentence of the fourth paragraph with the following:

Amended Map 2 details the boundary of the Devon/Sheridan RPA as Amended, which includes only those contiguous parcels of real property that are expected to substantially benefit from the Eligibility Study and Redevelopment Plan improvements discussed herein.

Under Section 2, under the Study Area subheading, replace the fifth paragraph with the following:

Amended Appendix 1 contains the legal description of the Devon/Sheridan RPA as Amended.

Under Section 2, under the Study Area subheading, replace Map 1: Community Context with the attached Amended Map 1: Community Context.

Under Section 2, under the Study Area subheading, replace Map 2: Boundary Map with the attached Amended Map 2: Boundary Map.

Under Section 2, under the Study Area subheading, replace Map 3: Existing Land Use with the attached Amended Map 3: Existing Land Use.

Section 3: Eligibility Analysis

Any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in Section 3 of the Original Plan should be understood to refer to the RPA as Amended, except as noted.

Under Section 3, before the Provisions of the Illinois Tax Increment Allocation Redevelopment Act
subheading, insert the following paragraph:

In 2016, the City seeks to amend the Original Plan to exclude eight tax parcels consisting of 1.8 acres of improved land. SB Friedman finds that the Eligibility Study that is part of the Original Plan is not affected adversely by the removal of eight tax parcels identified in this Amendment No. 1 document, as all the qualifying eligibility factors necessary for the approval of the Original Plan were present to a meaningful extent and reasonably


SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1

distributed throughout the Original RPA, and these factors continue to be present to a meaningful extent and reasonably distributed throughout the RPA as Amended after removal of the eight tax parcels.

Under Section 3, under the Methodology Overview and Determination of Eligibility subheading, replace the third sentence of the first paragraph with the following:

Our survey of the area established that there are 104 primary structures within the Devon/Sheridan RPA as Amended.

Under Section 3, under the Conservation Area Findings subheading, replace the second sentence of the second paragraph with the following:

Taking into account information obtained from building cornerstones, architectural characteristics, building configurations, the Cook County Assessor's Office, and the historic development patterns within the community, we have established that of the 104 buildings, 89 (86%) within the Devon/Sheridan RPA as Amended are 35 years of age or older.

Under Section 3, under the Conservation Area Findings subheading, replace the first sentence of the sixth paragraph with the following:

Amended Maps 4A, 4B and 4C illustrate the presence and distribution of these eligibility factors on a block-by-block basis within the Devon/Sheridan RPA as Amended.

Under Section 3, under the Conservation Area Findings subheading, the second sentence of the seventh paragraph is removed and replaced with the following:

The conservation eligibility factors by block cited throughout Section 3 and in Appendix 2 were unchanged after accounting for the removal of eight parcels in Amendment No. 1. Amended Maps 4A and 4C illustrate the distribution of those conservation eligibility factors found to be present to a major extent by highlighting each block where the respective factors were found to be present to a meaningful degree.

Under Section 3, under the Conservation Area Findings subheading, replace Map 4A: Eligibility Factors: Age with the attached Amended Map 4A: Eligibility Factors: Age.

Under Section 3, under the Conservation Area Findings subheading, replace Map 48: Eligibility Factors: Deterioration with the attached Amended Map 4B: Eligibility Factors: Deterioration.
Under Section 3, under the Conservation Area Findings subheading, replace Map 4C: Eligibility Factors: Inadequate Utilities with the attached Amended Map 4C: Eligibility Factors: Inadequate Utilities.
Under Section 3, under the Conservation Area Findings subheading, under 1. Deterioration, replace the first paragraph with the following:

Of the 104 buildings within the Devon/Sheridan RPA as Amended, 51 (49%) exhibited physical deterioration, including cracked or broken windows, cracked exterior walls,


SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1

evidence of roof leaks, and heavily rusted metal doors and projecting bays. Building deterioration, when combined with deterioration of infrastructure and/or parking areas, including broken or missing curbs and cracked alley and parking area paving, affects 156 of 252 tax parcels (62%) within the RPA as Amended.

Under Section 3, under the Conservation Area Findings subheading, under 2. Inadequate Utilities,
replace the first sentence of the first paragraph with the following:

A review of City of Chicago water and sewer atlases found that inadequate underground utilities affect 184 of the 252 tax parcels (73%).

Under Section 3, under the Conservation Area Findings subheading, under 3. Lack of Growth of Equalized Assessed Value, replace Table 1: Percent Change in Annual Equalized Assessed Valuation (EAV) with the following Amended Table 1: Percent Change in Annual Equalized Assessed Valuation (EAV):

TABLE 1: Percent Change in Annual Equalized Assessed Valuation (EAV)
Percent Change in EAV 1997/1998 r-W1 •'J';pt. ' .'4;.". - Percfenjt Charige . in EAV 1998/1999 Percent Change in EAV 1999/2000 Percent Change in EAV 2000/2001 Percent Change in EAV 2001/2002
Amended Devon/Sheridan RPA Study Area 0.09% Sj- 5.00% " ;. 12.71% -0.84% 7.33%
City of Chicago (Balance Of) 1.77% - .^17%:^ 14.50% 3.71% 7.98%
* The 1998/1999 period is shaded to indicate that it is a non-qualifying year.

Under Section 3, under the Conservation Area Findings subheading, under MINOR SUPPORTING FACTORS -1. Structures Below Minimum Code Standards, replace the fourth sentence of the first paragraph with the following:

Code violation citations implicated 32% of the buildings within the Devon/Sheridan RPA as Amended from 1998 through July of 2003.

Under Section 3, under the Conservation Area Findings subheading, under MINOR SUPPORTING FACTORS - 2. Excessive Vacancies, replace the first sentence of the first paragraph with the following:

At the beginning and completion of our research, between February 28, 2003 and July 25, 2003, 28 (27%) of the total 104 buildings within the Devon/Sheridan RPA as Amended exhibited excessive vacancies.

Under Section 3, under the Conservation Area Findings subheading, under MINOR SUPPORTING FACTORS - 3. Obsolescence, replace the second sentence of the first paragraph with the following:

An overwhelming majority (86%) of buildings within the Devon/Sheridan RPA as Amended were built at least 35 years ago and the floor layouts of some of these buildings were


SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1


designed for business operations that have become outmoded.

Under Section 3, under the Conservation Area Findings subheading, under MINOR SUPPORTING FACTORS - 3. Obsolescence, replace the first sentence of the second paragraph with the following:

Functional obsolescence was documented for 27 of the 104 buildings (26%) within the Devon/Sheridan RPA as Amended.

Under Section 3, under the Conservation Area Findings subheading, under MINOR SUPPORTING FACTORS - 4. Deleterious Land Use or Lay-Out, insert the following text after the last sentence of the fourth paragraph:

This finding regarding the Devon/Sheridan/Broadway intersection refers to the Original RPA. The count of curb cuts remaining in the RPA as Amended at this intersection was not able to be verified; however, given its presence elsewhere in the RPA as Amended, Deleterious Land Use remains a supporting factor.

Section 4: Redevelopment Project & Plan

Any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in Section 4 of the Original Plan should be understood to refer to the RPA as Amended, except as noted; particularly as noted below in the Assessment of Housing Impact.

Under Section 4, under the Proposed Future Land Use subheading, replace the second paragraph with the following:

These proposed future land uses are detailed on Amended Map 5. As noted on Amended Map 5, the uses listed are to be predominant uses for the area indicated, and are not exclusive of any other uses.

Under Section 4, under the Assessment of Housing Impact subheading, insert the following after the fourth paragraph:

This Amendment No. 1 to the Original Plan will remove two mixed-use commercial and residential buildings containing five housing units. These five housing units represent less than 0.25% of the total housing stock identified in the housing impact study conducted for the Original RPA. Given the minor change in housing unit count, removal of these five housing units will not affect the conclusions of the housing impact study, thus the study was not updated for the RPA as Amended. As such, any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in the Assessment of Housing Impact should be understood to refer to the Original RPA.

Under Section 4, under the Assessment of Housing Impact subheading, replace Map 5: Proposed Land Use with the attached Amended Map 5: Proposed Land Use.






SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1


Section 5: Financial Plan

Any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in Section 5 of the Original Plan should be understood to refer to the RPA as Amended, except as noted.

Under Section 5, under the Most Recent Equalized Assessed Valuation of Properties in the Redevelopment Project Area subheading, replace the second and third sentences of the first paragraph with, the following:

The 252 tax parcels comprising the RPA as Amended have a total estimated 2002 EAV of $45,774,077, a decrease from the initial 2002 EAV of $46,265,220 for the Original RPA, as certified by the Cook County Clerk. This estimated EAV by PIN for the RPA as Amended is summarized in Amended Appendix 4, and is subject to verification by the Cook County Clerk.

Section 6: Required Findings and Tests

Any references to the "Devon/Sheridan RPA," "Project Area" or "RPA" in Section 6 of the Original Plan should be understood to refer to the RPA as Amended, except as noted.

Under Section 6, under the Lack of Growth and Private Investment subheading, replace the third and fourth sentences of the second paragraph with the following:

The compound annual growth rate of EAV in the Devon/Sheridan RPA as Amended was 4.74% between 1997 and 2002. This is 25% lower than the 6.33% growth experienced by the City of Chicago during this period, 45% lower than the 8.70% growth rate experienced by Lakeview Township, and 21% lower than the 5.97% growth rate experienced by Rogers Park Township.

Under Section 6, under the Lack of Growth and Private Investment subheading, insert the following after the last sentence of the third paragraph:

Figures cited in this paragraph to quantify the lack of growth through private enterprise within the Original RPA were unchanged by the removal of eight parcels in Amendment No. 1.

Under Section 6, under the Lack of Growth and Private Investment subheading, insert the following paragraph after the sixth paragraph:

In 2016, the City seeks to amend the Original Plan to exclude eight tax parcels comprising 1.8 acres of improved land. SB Friedman finds that the Finding laid out in the previous paragraph that the Original RPA has not been subject to growth and development through private enterprise is not affected adversely by the removal of the eight parcels.

Under Section 6, under the Conformance to the Plans of the City subheading, replace the second paragraph with the following:




SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1

The proposed land uses described in the Eligibility Study and Redevelopment Plan that are part of the Original Plan were approved by the Chicago Plan Commission on February 19, 2004, prior to adoption of the Original Plan by the City Council.

Under Section 6, under the Demand on Taxing District Services and Program to Address Financial and Service Impact subheading, replace the twelfth paragraph with the following:

Amended Map 6 illustrates the locations of facilities operated by the above listed taxing districts within or in close proximity to the Devon/Sheridan RPA as Amended. Locations listed in the Original Plan have not been verified or updated in Amendment No. 1.

Under Section 6, under the Demand on Taxing District Services and Program to Address Financial and Service Impact subheading, replace Map 6: Community Facilities with the attached Amended Map 6: Community Facilities.

Appendix 1: Boundary and Legal Description (Chicago Guarantee Survey Company)

Replace Appendix 1 with the attached Amended Appendix 1: Boundary and Legal Description (Chicago Guarantee Survey Company - Amended by Christopher B. Burke Engineering Ltd.).

Appendix 2: Eligibility Factors by Block Table

SB Friedman has found that the conservation eligibility factors by block outlined in Appendix 2 were unchanged after accounting for the removal of eight parcels in Amendment No. 1.

Appendix 4: Summary of EAV (by PIN)

Replace Appendix 4 with the attached Amended Appendix 4: Summary of EAV (by PIN).




















SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1


Attachments

Amended Map 1: Community Context

Miles
Soufcfjs C;ty of Chicago Cock O.uiSy, Es't. I;S Censu*. Bua-fli. SB rr,c»Jfisn


SB FRIEDMAN | DEVELOPMENT ADVISORS
Devon/Sheridan TIF Redevelopment Plan and Project Amendment No. 1


Amended Map 2: Boundary Map

¦ W MORSE AVE

W (ARWELL AVE—
r. mnv» tu. *" * „ ^
-In : ;-Tn'i r n
.1 Fi. i LJ
W PRATT BLVD
"rijf- S [iijj. tl! iiirJ'JlLliJ
LiliiJ L„l
r
...J
.. ii
'W'NORTH SHORE AVE
i-Jg [|y: j gp
v:| 1re=1l ... |Ljfe:SHLj|pLlJJ.iiJ
- . ,. Lzjii i !
3-zi it—.; !:-