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Record #: O2018-8112   
Type: Ordinance Status: Passed
Intro date: 10/31/2018 Current Controlling Legislative Body: Committee on Finance
Final action: 11/14/2018
Title: Intergovernmental agreement with Chicago Park District for Tax Increment Financing (TIF) assistance for expansion of Sumac Park
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2018-8112.pdf, 2. O2018-8112 (V1).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 all parks within the corporate limits of the City; and

WHEREAS, the Park District owns a small park called Sumac Park and now wishes to expand the park onto adjacent land that the Park District acquired earlier, which park, as expanded, is generally located at 4201 South Champlain Avenue, Chicago, Illinois and is legally described in Exhibit A (the "Property"), attached hereto; and
WHEREAS, the expansion work will consist of a walking path, additional landscaping, new drinking fountain, outdoor workout stations, and park benches on the Property (the "Project"); and

WHEREAS, the Property lies wholly within the boundaries of the 43rd & Cottage Grove Redevelopment 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, and pursuant to ordinances adopted on July 8, 1998, and published in the Journal ofthe Proceedings ofthe City Council of the City of Chicago, for said date, and as subsequently amended, the City Council: (i) approved and adopted a redevelopment plan and project (the "Plan") for a portion of the City k...

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