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, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on November 30, 2016, a certain redevelopment plan and project (the "Plan") for the Red and Purple Modernization (RPM) Phase One Project Redevelopment Project Area (the "Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et sea.) (the "Act"); and
WHEREAS, pursuant to an ordinance adopted by the City Council on November 30, 2016, the Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, the Area is within a transit facility improvement area designated by the City by an ordinance adopted by the City Council on November 30, 2016; and
WHEREAS, pursuant to an ordinance (the "TIF Ordinance") adopted by the City Council on November 30, 2016, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Area "redevelopment project costs" (as defined in the Act) incurred pursuant to the Plan; and
WHEREAS, such redevelopment project costs will include costs for developing new transit facilities and expanding or rehabilitating existing transit facilities;
WHEREAS, the Chicago Transit Authority (the "CTA") is an Illinois municipal corporation, which owns and controls, and is authorized to construct and develop, transit facilities; and
WHEREAS, the CTA desires to implement the Red and Purple Modernization (RPM) Phase One Project, which will include new, expanded, and rehabilitated transit facilities that serve the CTA's Red Line, Purple Line, and Brown Line services...
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