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This record contains private information, which has been redacted from public viewing.
Record #: O2021-2188   
Type: Ordinance Status: Passed
Intro date: 5/26/2021 Current Controlling Legislative Body: Committee on Finance
Final action: 6/25/2021
Title: Redevelopment agreement with Roots ALB LP and Celadon Construction Company for financial assistance including tax incremental financing (TIF) qualified funds for Metropolitan Apartments affordable housing project at 3559 W Lawrence Ave
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment
Attachments: 1. O2021-2188.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
May 26. 2021










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing, I transmit herewith an ordinance authorizing financial assistance for the Metropolitan Apartments affordable housing development project.

Your favorable consideration ofthis ordinance will be appreciated.


Very truly yours,

O R D I N A N C E

WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII ofthe 1970 Constitution ofthe State of Illinois; and

WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on February 16, 2000 and published at pages 24802-24898 of the Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Original Redevelopment Plan") for the Lawrence/Kedzie Redevelopment Project Area (the " Lawrence/Kedzie Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et sea,.) (the "Act"); and

WHEREAS, pursuant to an ordinance adopted by the City Council on February 16, 2000 and published at pages 24899-24908 ofthe Journal of such date, the Lawrence/Kedzie Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance adopted by the City Council on February 16, 2000 and published at pages 24909-24917 of the Journal of such date (the " Lawrence/Kedzie TIF Ordinance"), tax increment allocation financing was adopted pursuant to the Act as a means of financing certain redevelopment project costs, as defined in the Act, incurred pursuant to the Lawrence/Kedzie Tax Increment Financing Redevelopment Plan and Project and directed that the allocation of ad valorem taxes arising from levies by taxing districts upon the taxable real property in the Lawrence/Ke...

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