Office of the City Clerk - Record #: SO2019-1398

• Record #: SO2019-1398
• Type: Ordinance
• Status: Passed
• Intro date: 3/13/2019
• Current Controlling Legislative Body: Committee on Finance
• Final action: 4/10/2019
• Title: Redevelopment agreement with NP Avenue O LLC for construction of industrial and distribution center including new streets to service facility site
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
4/12/2019		Office of the Mayor	Signed by Mayor
4/10/2019	98209	City Council	Passed as Substitute	Pass
4/8/2019		Committee on Finance	Recommended to Pass
4/8/2019		Committee on Finance	Substituted in Committee
3/13/2019	95482	City Council	Referred

AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING NP AVENUE O, LLC AS DEVELOPER AND
AUTHORIZING A REDEVELOPMENT AGREEMENT SUBSTITUTE ORDINANCE

WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") ofthe City of Chicago (the "City") on October 31, 2018 and published at pages 86482-86529 ofthe Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Plan") for the 116lh/Avenue O Tax Increment Financing Redevelopment Project Area (the "Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seg.) (the "Act"); and

WHEREAS, pursuant to an ordinance adopted by the City Council on October 31, 2018 and published at pages 86530-86536 of the Journal of such date, the Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance (the "TIF Ordinance") adopted by the City Council on October 31, 2018 and published at pages 86537-8.6542 of the Journal of such date, tax increment allocation 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, to induce redevelopment pursuant to the Act, the City Council adopted the following ordinances on December 13, 2000, which have been amended: (1) "An Ordinance of the City of Chicago, Illinois Approving a Tax Increment Redevelopment Plan for the Lake Calumet Area Industrial Tax Increment Financing Redevelopment Project Area" (as amended, the "Lake Calumet Redevelopment Area"); (2) "An Ordinance of the City of Chicago, Illinois Designating the Lake Calumet Area Industrial Tax Increment Financing Redevelopment Project Area as a Tax Increment Financing District;" and (3) "An Ordinance ofthe City of Chicago, Illinois Adopting Tax Increment Allocation Financing for the Lake Calumet Area Industrial Tax Increment...