OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
Mav 26. 2021
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing, 1 transmit herewith an ordinance expanding the TIF Vacant Building Purchase Rehabilitation Program to include multi-use buildings.
Your favorable consideration ofthis ordinance will be appreciated.
Very truly yours.
ORDINANCE
WHEREAS, the City of Chicago ("City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, 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 blighted conditions and conservation area factors through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, by an ordinance adopted by the City Council on May 4, 2011, and published in the Journal of Proceedings of the City Council (the "Journal") for said date at pages 117057 to 117064, inclusive (the "Establishment Ordinance"), the City developed a "Vacant Building TIF Purchase and Rehabilitation Program" ("Program") to assist in the stabilization of neighborhoods and the City's housing market by providing assistance for the purchase and rehabilitation of vacant housing; and
WHEREAS, in accordance with the Establishment Ordinance and pursuant to an ordinance adopted by the City Council of the City on March 14, 2012 and published in the Journal for said date at pages 21748 to 21775, inclusive, the City entered into an agreement on April 12,
with NHS (the "NHS Program Agreement") under which NHS performs certain administrative services for the Program for single-family homes ("SFH Program") in the Chicago/Central Park redevelopment project area; and
WHEREAS, pursuant to an ordinance adopted by the City Council of the City on July 24,
and published in the...
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