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Record #: O2022-401   
Type: Ordinance Status: Passed
Intro date: 1/26/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 2/23/2022
Title: Acquisition of improved parcels at 3811 W Madison St, 3831 W Madison St and 3841 W Madison St
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Acquisition
Attachments: 1. O2022-401.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

January 26, 2022










TO THE HONORABLE, THE CITY 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 acquisition of property.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours







A

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 ("City Council") on September 29, 1999: (i) a certain redevelopment plan and project (the "Plan") for the Madison/Austin 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 seq.) (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 that certain real property which is located in the Area and identified on the attached Exhibit A (collectively, 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 (achieving the objectives of Plan shall be known herein as the "Project"); and

WHEREAS, by Resolution No. 21-CDC-39 adopted by the Community Development Commission of the City (the "CDC") on December 14, 2021, the CDC recommended the acquisition of the Acquisition Parcels; and

WHEREAS, by Resolution No. 21-040-21 adopted by...

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