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Record #: O2018-4453   
Type: Ordinance Status: Passed
Intro date: 5/23/2018 Current Controlling Legislative Body: Committee on Finance
Final action: 6/27/2018
Title: Intergovernmental agreement with Chicago Park District for Tax Increment Financing (TIF) assistance for construction of playground at Spikings Farm Park
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2018-4453.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 ofthe 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 park improvements to construct a playground (the "Project") located on a parcel of land known as Spikings Farm Park, which is generally located at 4706 North Pulaski Road, Chicago, Illinois and legally described in Exhibit 1 (the "Property"); and
WHEREAS, the Property lies wholly within the boundaries of the Lawrence/Pulaski 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 February 27, 2002, and published in the Journal of Proceedings of the City Council of the City of Chicago, Illinois for such date at pages 79687-79793, the City Council of the City: (i) approved a redevelopment plan and project (the "Lawrence/Pulaski Plan") for a portion of the City known as the "Lawrence/Pulaski Avenue Tax Increment Financing Redevelopment Project Area" (herein, the "Lawrence/Pulaski Redevelopment Project Area"), (ii) designated the Lawrence/Pulaski Redevelopment Project Area as a...

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