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Record #: O2018-1032   
Type: Ordinance Status: Passed
Intro date: 2/28/2018 Current Controlling Legislative Body: Committee on Budget and Government Operations
Final action: 3/28/2018
Title: Amendment of Neighborhood Opportunity Fund ordinance by increasing aggregate funding limit for Group I grants
Sponsors: Emanuel, Rahm
Topic: FINANCE FUNDS - Neighborhoods Opportunity Fund
Attachments: 1. O2018-1032.pdf

OFFICE  OF THE MAYOR

CITY OF CHICAGO

RAHM EMANUEL

MAYOR

February 28, 2018

 

 

 

 

 

 

 

 

 

 

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 amendment to the Neighborhood Opportunity Fund ordinance.

 

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, pursuant to ordinances adopted by the City Council on April 19, 2017 and September 6, 2017 and published at pages 46773 through 46774 and pages 54823 through 54826, respectively, in the Journal of the Proceedings.of the City Council of such dates, the City Council has authorized a program funding limit (the "Funding Limit") for the Group I Grants; and

 

WHEREAS, the City Council desires to increase the Funding Limit; 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, the Funding Limit shall be increased by $6,000,000, to a total of $12,500,000; provided, however, that upon the request of DPD, the City Council may increase the Funding Limit in the future to enable DPD to disburse additional Group I Grants.

 

SECTION 3. To the extent that any ordinance, resolution, rule, order or provision of the Municipal Code, or part thereof, is in conflict with the provisions of this ordinance, the provisions of this ordinance shall control. If any section, paragraph, clause or provision of this ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this ordinance.

 

SECTION 4. This ordinance shall be in full force and effect immediately upon its passage and approval.