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Record #: O2019-476   
Type: Ordinance Status: Passed
Intro date: 1/23/2019 Current Controlling Legislative Body: Committee on Finance
Final action: 3/13/2019
Title: Intergovernmental agreement with Chicago Board of Education for provision of tax increment financing (TIF) assistance for renovation of Edwin G. Foreman High School at 3235 N LeClaire Ave
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2019-476.pdf, 2. O2019-476 (V1).pdf
ORDINANCE

WHEREAS, the City of Chicago (the "City") is a municipal corporation and 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 Board of Education of the City of Chicago (the "Board") is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois, 105 ILCS 5/1-1 et seq.; and

WHEREAS, pursuant to the provisions of an act to authorize the creation of public building commissions and to define their rights, powers and duties under the Public Building Commission Act (50 ILCS 20/1 et seq.), the City Council of the City (the "City Council") created the Public Building Commission of Chicago (the "Commission") to facilitate the acquisition and construction of public buildings and facilities; and

WHEREAS, the Board operates a school known as Edwin G. Foreman High School (the "School") located at 3235 North LeClaire Avenue, Chicago, Illinois 60641 (the "Property"); and

WHEREAS, the Board desires to renovate the interior of the School and related improvements (the "Facility") on the Property to serve the School (the renovation of the Facility shall be referred to herein as the "Project"); 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 through the use of tax increment allocation financing for redevelopment projects; and

WHEREAS, to induce certain redevelopment pursuant to the Act, the City Council adopted ordinances on January 12, 2000: approving and adopting a tax increment financing redevelopment project and plan for the Belmont/Cicero Redevelopment Project Area; designating the Belmont/Cicero Redevelopment Project Area as a tax increment f...

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