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Record #: O2017-3928   
Type: Ordinance Status: Passed
Intro date: 5/24/2017 Current Controlling Legislative Body: Committee on Finance
Final action: 6/28/2017
Title: Intergovernmental agreement with Chicago Board of Education for provision of Tax Increment Financing (TIF) assistance for Amundsen High School facility improvements
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2017-3928 (V1).pdf, 2. O2017-3928.pdf
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois; and
WHEREAS, the Board of Education of the City of Chicago (the "Board") is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois; and
WHEREAS, pursuant to the provisions of an act to authorize the creation of public building commissions and to define their rights, powers and duties under the Public Building Commission Act (50 ILCS 20/1 et seg.), the City Council of the City (the "City Council") created the Public Building Commission of Chicago (the "Commission") to facilitate the acquisition and construction of public buildings and facilities; and
WHEREAS, the Commission owns in trust for the Board certain real property located at 5110 North Damen Avenue in Chicago, Illinois (the "Amundsen Property"); and
- WHEREAS, the Board is rehabilitating or has rehabilitated a high school (the "Amundsen Facility") known as Amundsen High School on the Amundsen Property (the Amundsen Facility has those general features described in Exhibit 1 to Exhibit A attached hereto and incorporated herein, and the rehabilitation of the Amundsen Facility shall be known as the "Amundsen Project"); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seg., 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, to induce certain redevelopment pursuant to the Act, the City Council adopted the following ordinances on January 12, 2000, published at pages 22395 through 22522 of the Journal of Proceedings of the City Council (the "Journal") for said date, as amended by ordinanc...

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