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Record #: O2018-8114   
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 construction of indoor track and field arena and "After School Matters" facilities within Gately Park
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2018-8114.pdf, 2. O2018-8114 (V1).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 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 has undertaken to construct an approximately 139,375 square foot indoor track and field facility in Gately Park, which is generally located at 810 East 103rd street, Chicago, Illinois and legally described in Exhibit A (the "Property"); and

WHEREAS, the facility to be constructed on the Property will include (i) the area's first hydraulically-banked 200-meter track, (ii) seating capacity for 3,500 individuals, (iii) an approximately 4,000 square foot warm up area, eight sprint lanes, two long and triple jump runways and pits, pole vaults and pads, high jump area and scoreboards; and (iv) an approximately 22,000 square foot designated space within the facility for "After School Matters" programming which will be used for dance programs, multi-purpose labs for art, science and technology, and full culinary kitchen for cooking classes (the "Project"); and

WHEREAS, the Property lies wholly within the boundaries of the North Pullman 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 er 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 project...

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