ORDINANCE «Mn umrt
2020 MAR 18 m 10:
WHEREAS, the City of Chicago ("City"), a home rule unit of government under Section 6(a), Article VII ofthe 1970 Constitution ofthe State of Illinois, is authorized unde0fffe'£&\i#ofi£{|£ ofthe Tax Increment Allocation Redevelopment Act. 65 ILCS 5/11-74.4-1 et seg-pal^^ferS^ from time to time (the "Act"), to finance projects that eradicate blighted conditions and conservation area factors through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, the City has created a program known as "INVEST South/West" to marshal the resources of multiple City departments, community-based organizations -and corporate partners toward ten (10) neighborhoods on the City's South and West sides (the "INVEST South/West Neighborhoods"); and
WHEREAS, INVEST South/West is designed to be a collaborative effort among government, businesses, philanthropies, and community leaders to maximize public investments in order to attract private capital, respond to changing commercial trends and enrich local culture; and
WHEREAS, the primary goal of INVEST South/West is to re-activate neighborhood cores that have historically served as focal points for pedestrian activity, shopping, services, transportation, public spaces and quality-of.life amenities for local residents; and
WHEREAS, as part of INVEST South/West, the City has identified twelve (12) commercial corridors listed in Exhibit A to this ordinance, which is incorporated herewith and made a part hereof (the "Priority Corridors"), in the INVEST South/West Neighborhoods for the purpose of receiving targeted support in order to spur economic development; and .
WHEREAS, the City has identified a need for technical assistance from an organization with expertise in helping to revitalize urban commercial districts in order to successfully implement INVEST South/West objectives in the Priority Corridors; and
WHEREAS, Main Street America ("MSA") is a program of the non-pro...
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