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Record #: O2017-914   
Type: Ordinance Status: Passed
Intro date: 2/22/2017 Current Controlling Legislative Body: Committee on Budget and Government Operations
Final action: 4/19/2017
Title: Allocation of Neighborhood Opportunity Funds for Group I Grants
Sponsors: Emanuel, Rahm
Topic: FINANCE FUNDS - Neighborhoods Opportunity Fund
Attachments: 1. O2017-914.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR


February 22, 2017










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 allocating Neighborhood Opportunity Funds.

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,
ORDINANCE


WHEREAS, Chapter 16-14 of the Municipal Code of Chicago, as amended (the "Municipal Code") contains the Neighborhoods Opportunity Fund Ordinance (the "Ordinance") establishing the Neighborhoods Opportunity Fund (the "NOF"); and

WHEREAS, Section 16-14-080 of the Municipal Code authorizes the Department of Planning and Development ("DPD") of the City of Chicago (the "City") to administer the NOF and all projects funded under the Ordinance, including (a) disbursing individual grants for development projects described in the Ordinance in the amount of $250,000.00 or less (collectively, the "Group I Grants"), subject to periodic authorization by the City Council of the City (the "City Council") of program funding limits; and (b) disbursing individual grants for development projects described in the Ordinance exceeding $250,000.00 per grant, to the extent each such grant is approved by the City Council (collectively, the "Group II Grants"); and

WHEREAS, the City Council desires to authorize an initial program funding limit for the Group I Grants; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

SECTION 1. The above recitals are expressly incorporated in and made a part of this ordinance as though fully set forth herein.

SECTION 2. Subject to the availability of funds in the NOF, DPD is hereby authorized to disburse Group I Grants in the aggregate amount of up to $3,000,000, the program funding limit for the Group I Grants (excluding expenses described in Section 16-14-070(g) of the Municipal Code, the "Funding Limit"), pursuant to the O...

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