OFFICE OF THE MAYOR
CrTY OF CHICAGO
LOU I L. IIGII 1IOO 1'
MAYOR
September 9, 2020
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
Al the request ofthe Commissioner of Planning and Development, I transmit herewith an ordinance conferring acquisition authority for property located at 5200-5250 W. Chicago Avenue.
Your favorable consideration ofthis ordinance will be appreciated.
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to ordinances adopted by the City Council of the City of Chicago ("City Council") on September 27, 2007: (i) a certain redevelopment plan and project (the "Plan") for the Austin Commercial 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"); (ii) the Area was designated as a redevelopment project area pursuant to the Act; and (iii) 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, it is necessary to acquire the parcels of property located in the Area listed on the attached Exhibit A (the "Acquisition Parcels"), in order to achieve the objectives of the Plan, which include, among other things: reducing or eliminating conditions that qualify the Area as a redevelopment area; and
WHEREAS, by Resolution No. 20-CDC-8, adopted by the Community Development Commission of the City of Chicago ("Commission") on August 11, 2020, the Commission recommended the acquisition of the Acquisition Parcels; and
WHEREAS, the City Council finds such acquisitions to be for the same purposes as those set forth in ...
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