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Record #: O2019-4212   
Type: Ordinance Status: Passed
Intro date: 6/12/2019 Current Controlling Legislative Body: Committee on Finance
Final action: 7/24/2019
Title: Intergovernmental agreement with Chicago Park District for Tax Increment Financing (TIF) assistance in construction of new McInerney Park playground and appurtenances at 4452 S Emerald Ave
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2019-4212.pdf
CHICAGO July 22. 2019

To the President and Members of the City Council:

Your Committee on Finance having had under consideration 02019-4212, a communication recommending a proposed ordinance concerning the authority to enter into and execute an Intergovernmental Agreement with the Chicago Park District for the redevelopment of Mclnerney Park.



















Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed


This recommendation was concurred in by (aScivavocevote,
of members of the committee with a) dissenting vote(s).

Chairman



Respectfully submitted,

OFFICE OF THE MAYOR
CTTY OF CIirCAGO
LOIU E. LIGHTFOOT
MAYOU

June 12, 2019










TO THE HONORABLE, THE CITY COUNCIL OF THE CI TY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith ordinances authorizing the execution of intergovernmental agreements for TIF assistance for the Chicago Park District.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours,

Mayor
WHEREAS, the Plan contemplates that tax increment financing assistance would be provided for public improvements, such as the Project, within the boundaries of the 47th/Halsted Redevelopment Area; and

WHEREAS, the Park District is a taxing district under the Act; and

WHEREAS, in accordance with the Act, the TIF-Funded Improvements shall include such of the Park District's capital costs necessarily incurred or to be incurred in furtherance of the objectives of the Plan, and the City has found that the TIF-Funded Improvements consist of the cost of the Park District's capital improvements that are necessary and directly result from the redevelopment project constituting the Project and, therefore, constitute "taxing districts' capital costs" as defined in Section 5/11-74.4-3(u) of the Act; and

WHEREAS, the City and the Park District wish to enter into an intergovernmental...

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