I
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 14, 2018
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a sale of city-owned property.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
AN ORDINANCE AUTHORIZING THE NEGOTIATED SALE OF 3100-3106 SOUTH HALSTED AVENUE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to ordinances adopted by the City Council of the City (the "City Council") on January 14, 1997, and published at pages 36945 through 37322 in the Journal of the Proceedings of the City Council (the "Journal") of such date, (i) a certain redevelopment plan and project (the "Original Plan") for the 35th and Halsted Tax Increment Financing Redevelopment Project Area ("Area"), was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"); (ii) the Area was designated as a redevelopment project area pursuant to the Act; and (iii) tax increment financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and
WHEREAS, pursuant to ordinance adopted by the City Council on May 5, 2004, and published in the Journal of such date, the City Council approved amendments to the Original Plan (the Original Plan, as amended, the "Revised Plan"); and
WHEREAS, the City owns two (2) contiguous parcels of vacant land located at 3100-3106 South Halsted Street, Chicago, Illinois, 60608, as legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, t...
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