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Record #: O2018-6911   
Type: Ordinance Status: Passed
Intro date: 9/17/2018 Current Controlling Legislative Body: Committee on Finance
Final action: 9/20/2018
Title: Public hearing(s) on expansion of area and special services, increase of maximum rate, and extension of levy period for Special Service Area No. 48
Sponsors: Dept./Agency
Topic: SPECIAL SERVICE AREAS - S.S.A. No. 48 (Old Town)
Attachments: 1. O2018-6911 (V1).pdf, 2. O2018-6911.pdf

WHEREAS, special service areas may be established pursuant to Article VII, Sections 6(1) and 7(6) of the Constitution of the State of Illinois, and pursuant to the provisions of the Special Service Area Tax Law, 35 ILCS 200/27-5 et seq., as amended from time to time (the "Special Service Area Tax Law) and pursuant to the Property Tax Code, 35 ILCS 200/1-1 et seq., as amended from time to time (the "Property Tax Code"); and

WHEREAS, on December 2, 2009, the City Council of the City of Chicago (the "City Council") enacted an ordinance (the "Establishment Ordinance") which established an area known and designated as City of Chicago Special Service Area Number 48 (the "Original Area") and authorized the levy of an annual tax, for the period beginning in 2009 through and including 2018 (the "Original Period"), not to exceed an annual rate of three tenths of one percent (0.3%) of the equalized assessed value of the taxable property therein (the "Original Services Tax") to provide certain special services in and for the Area in addition to the services provided by and to the City of Chicago generally (the "Original Special Services"); and

WHEREAS, the Establishment Ordinance established the Original Area as that territory consisting approximately of North Avenue from the east side of Orleans Street to the west side of LaSalle Street on the south side of North Avenue and from the east side of North Park Avenue to the west side of LaSalle Street on the north side of North Avenue; Wells Street from the north side of Schiller Street to North Avenue, to include the buildings on all four corners at the intersection of North Avenue and Wells Street; and

WHEREAS, the Original Special Services authorized in the Establishment Ordinance include, but are not limited to: recruitment of new businesses to the Area, rehabilitation activities, maintenance and beautification activities, security, coordination of promotional and advertising activities, strateg...

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