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Record #: O2022-415   
Type: Ordinance Status: Passed
Intro date: 1/26/2022 Current Controlling Legislative Body: Committee on Finance
Final action: 2/23/2022
Title: First amendment to intergovernmental agreement with Chicago Park District to increase provision of tax increment financing (TIF) assistance and to reallocate developer contributions for renovation of fieldhouse at Clarendon Park, 4532 - 4534 N Clarendon Ave and 4538 N Clarendon Ave
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2022-415.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHT! OO P
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 execution of intergovernmental agreements with thc Chicago Park District to provide TIF funding for improvements at various parks.

Your favorable consideration of these ordinances will be appreciated.

ORDINANCE

WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois, and as such may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, the Chicago Park District (the "Park District"), is an Illinois municipal corporation and a unit of local government under Article VII, Section 1 ofthe 1970 Constitution of the State of Illinois, and as such is authorized to exercise control over and supervise the operation of all parks within the corporate limits of the City; and
WHEREAS, in accordance with the provisions of the Act, and pursuant to ordinances adopted on June 30, 2010 and published in the Journal ofthe Proceedings ofthe City Council of the City (the "Journal") for said date at pages 94602 to 94666, the City Council: (i) approved and adopted a redevelopment plan and project (the "Plan") for a portion of the City known as the "Montrose/Clarendon Redevelopment Project Area" (the "Area"); (ii) designated the Area as a "redevelopment project area"; and (iii) adopted tax increment allocation financing for the Area; and

WHEREAS, under 65 ILCS 5/11-74.4-3(q)(7), such incremental ad valorem taxes which pursuant to the Act have been collected and are allocated to pay redevelopment project costs and obligations incurred in the payment thereof (the "Increment") may be used to pay all or a portion of a taxing district's capital costs resulting from ...

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