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Record #: O2018-2343   
Type: Ordinance Status: Passed
Intro date: 3/28/2018 Current Controlling Legislative Body: Committee on Finance
Final action: 4/18/2018
Title: Intergovernmental agreement with Chicago Park District for provision of Tax Increment Financing (TIF) assistance for improvements to Big Marsh Environmental Center
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2018-2343 (V1).pdf, 2. O2018-2343.pdf

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 a new environmental center which will consist of an approximately eight thousand (8,000) square foot building which shall include a large multi-purpose classroom, community rooms, bicycle repair co-op space, concession space, office support, restrooms, indoor maintenance and garage space (said improvements collectively referred to as the "Project") located on a parcel of land known as Big Marsh, a 278 acre Park District land holding which is generally located at 11555 S. Stony Island Avenue, Chicago, Illinois and legally described in Exhibit A (the "Property"); and

WHEREAS, the Property lies wholly within the boundaries of the Lake Calumet Industrial Corridor 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 December 13, 2000, and published in the Journal of Proceedings (the "Journal") of the City Council for such date at pages 47782 through 47996, and...

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