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Record #: O2020-2357   
Type: Ordinance Status: Passed
Intro date: 4/22/2020 Current Controlling Legislative Body: Committee on Finance
Final action: 5/20/2020
Title: Intergovernmental agreement with Chicago Board of Education for Tax Increment Financing (TIF) assistance regarding turf field project at Lyman A. Budlong Elementary School at 2701 W Foster Ave
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2020-2357.pdf
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OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

April 22, 2020










TO THE HONORABLE, THE CI TY COUNCIL OF THE CITY 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 with the Board of Education.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours,

ORDINANCE

WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) ofthe 1970 Constitution ofthe 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 politic and corporate, 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 Lyman A. Budlong Elementary School (the "School") located at 2701 West Foster Avenue, Chicago, Illinois 60625 (the "Property"); and

WHEREAS, the Board desires to replace the existing turf field at the School with new organic infill (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 fina...

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