Share to Facebook Share to Twitter Bookmark and Share
Record #: O2018-4454   
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 Board of Education for provision of Tax Increment Financing (TIF) assistance for construction of athletic field and improvements at Mary Gage Peterson Elementary School, 5510 N Christiana Ave
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2018-4454.pdf, 2. O2018-4454 (V1).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) ofthe 1970 Constitution ofthe State of Illinois, and as such, may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, the Board of Education ofthe 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, 105 ILCS 5/1-1 et seq.; 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 seq.), the City Council ofthe 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 5510 North Christiana Avenue in Chicago, Illinois 60625 (the "Property"); and
WHEREAS, the Board operates a school known as Mary Gage Peterson Elementary School (the "School") on the Property; and

WHEREAS, the Board desires to construct an athletic field and related improvements (the "Facility") on the Property to serve the School (the construction of the Facility shall be referred to herein as the "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 seq., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions 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 February 16, 2000, published at pages 24803 through 24917 of the Journal of Proceedings of the City Council (the "Jour...

Click here for full text