Office of the City Clerk - Record #: O2018-664

• Record #: O2018-664
• Type: Ordinance
• Status: Passed
• Intro date: 1/17/2018
• Current Controlling Legislative Body: Committee on Finance
• Final action: 2/28/2018
• Title: Approval of redevelopment plan for Foster/Edens Redevelopment Project Area pursuant to Tax Increment Financing (TIF) Act
• Sponsors: Emanuel, Rahm
• Topic: TAX INCREMENT FINANCING DISTRICTS - Foster/Edens T.I.F. - Approval

Date	Journal Page Number	Action By	Action	Result
3/13/2018		Office of the Mayor	Signed by Mayor
2/28/2018	66131	City Council	Passed	Pass
2/26/2018		Committee on Finance	Recommended to Pass
1/17/2018	64116	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
January 17, 2018










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


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith ordinances authorizing adoption of the Foster/Edens TIF redevelopment plan and project.

Your favorable consideration of these ordinances will be appreciated.

Mayor


Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS APPROVING A REDEVELOPMENT PLAN J FOR THE FOSTER/EDENS REDEVELOPMENT PROJECT AREA
WHEREAS, it is desirable and in the best interest of the citizens of the City of Chicago, Illinois (the "City") for the City to implement tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., as amended (the "Act"), for a proposed redevelopment project area to be known as the Foster/Edens Redevelopment Project Area (the "Area") described in Section 2 of this ordinance, to be redeveloped pursuant to a proposed redevelopment plan and project attached hereto as Exhibit A (the "Plan"); and

WHEREAS, by authority of the Mayor and the City Council of the City (the "City Council," referred to herein collectively with the Mayor as the "Corporate Authorities") and pursuant to Section 5/11-74.4-5(a) of the Act, the City's Department of Planning and Development established an interested parties registry and, on August 17, 2017, published in a newspaper of general circulation within the City a notice that interested persons may register in order to receive information on the proposed designation of the Area or the approval of the Plan; and

WHEREAS, notice of a public meeting (the "Public Meeting") was made pursuant to notices from the City's Commissioner of the Department of Planning and Development, given on dates not less than 15 days before the date of the Public Meeting: (i) on September 12, 2017 by...