Share to Facebook Share to Twitter Bookmark and Share
Record #: O2017-933   
Type: Ordinance Status: Passed
Intro date: 2/22/2017 Current Controlling Legislative Body: Committee on Finance
Final action: 3/29/2017
Title: Intergovernmental agreement with Chicago Park District for provision of Tax Increment Financing (TIF) assistance for construction of automated batting cage in Humboldt Park
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2017-933 (V1).pdf, 2. O2017-933.pdf
ORDINANCE
WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois, and as such may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the Chicago Park District (the "Park District"), is an Illinois municipal corporation and a unit of local government under Article VII, Section 1 of the 1970 Constitution, of the State of Illinois, and as such is authorized to exercise control over and supervise the operation of parks within the corporate limits of the City; and
WHEREAS, the Park District has undertaken to construct five-station automated batting cage (the "Project") located on a parcel of land known as Humboldt Park, which is generally located at at 1400 North Sacramento Avenue, Chicago, Illinois and legally described in Exhibit 1 (the "Property"); and
WHEREAS, the Property lies wholly within the boundaries of the Division/Homan Redevelopment Project Area (as hereinafter defined); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, in accordance with the provisions of the Act, pursuant to ordinances adopted on June 27, 2001, and published in the Journal of Proceedings of the City Council of the City of Chicago, Illinois for such date at pages 61712 through 61834, the City Council of the City: (i) approved a redevelopment plan and project (the "Division/Homan Plan") for a portion of the City known as the "Division/Homan Redevelopment Project Area", (ii) designated the Division/Homan Redevelopment Project Area as a redevelopment project area under the Act, and, (iii) adopted tax increment financing fo...

Click here for full text