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Record #: O2018-8117   
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 renovation of existing fieldhouse and athletic field within Chase Park
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2018-8117.pdf, 2. O2018-8117 (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 has undertaken to make certain park improvements at Chase Park, which is generally located at 4701 North Ashland Avenue, Chicago, Illinois and legally described in Exhibit A (the "Property"); and

WHEREAS, the Park District wishes to construct a new artificial turf athletic field, to upgrade an existing fieldhouse with a new roof and mechanical repairs, and to make additional field improvements which will include lighting, drainage, seating, fencing, and landscaping on the Property (the "Project"); and
WHEREAS, the Property lies wholly within the boundaries of the Clark/Montrose Redevelopment Area (as hereinafter defined); and

WHEREAS, ihe City is authorized under the provisions of the Tax increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 ef 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 7, 1999 and published in the Journal of the Proceedings of the 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 t...

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