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Record #: F2022-51   
Type: Communication Status: Placed on File
Intro date: 9/21/2022 Current Controlling Legislative Body:
Final action: 9/21/2022
Title: Pulaski Corridor Tax Increment Financing, Redevelopment Plan and Project Amendment No. 3 dated July 29, 2022
Sponsors: Dept./Agency
Topic: CITY DEPARTMENTS/AGENCIES - Law
Attachments: 1. F2022-51.pdf









Ms. Anna M. Valencia
City Clerk
City of Chicago
121 North LaSalle Street
Chicago, Illinois 60602
cc: Scott D. Fehlan Tim Jeffries, DPD
DhT'ARTMKNT Ol- L.WV CITY OF CHICAGO

July 29, 2022

Chicago City Clerk-Council Div.
2022JUL29pm2:26
PULASKI CORRIDOR TAX INCREMENT FINANCING REDEVELOPMENT PLAN AND PROJECT



Adopted Plan: January 29, 1999 Amendment No. 1: October 3, 2012 Amendment No. 2: July 30, 2014





Amendment No. 3: July 29, 2022




City of Chicago Lori E. Lightfoot, Mayor






Department of Planning and Development Maurice D. Cox, Commissioner

Table of Contents

AMENDMENT NO 3. EXECUTIVE SUMMARY|910|SECTION I - INTRODUCTION AND EXECUTIVE SUMMARY|910|SECTION II - LEGAL DESCRIPTION AND PROJECT BOUNDARY|910|SECTION III - STATUTORY BASIS FOR TAX INCREMENT FINANCING|910|SECTION IV- REDEVELOPMENT GOALS AND OBJECTIVES|910|SECTION V - BASIS FOR ELIGIBILITY OF THE AREA AND FINDINGS|910|SECTION VI - REDEVELOPMENT PLAN AND PROJECT|910|SECTION VII - STATUTORY COMPLIANCE AND IMPLEMENTATION STRATEGY 10






















Prepared by:
Johnson Research Group, Inc. 105 W Madison St, Suite 406 Chicago, IL 60602

Pulaski Corridor
Tax Increment Financing Redevelopment Plan and Project
Amendment No. 3



AMENDMENT NO 3. EXECUTIVE SUMMARY
The Illinois General Assembly passed the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et.seq., as amended (the "Act") to provide municipalities with the mechanism to address blighted conditions, encourage private investment and to restore and enhance the tax base through development and redevelopment of project areas. To induce redevelopment pursuant to the Act, the City of Chicago City Council adopted three ordinances on January 29, 1999 approving the Pulaski Corridor Tax Increment Financing Redevelopment Project and Plan (the "Original Plan"); designating the Pulaski Corridor Project Area (the "Original Project Area"); and adopting tax increment financing for the Original Project Area (the "Pulaski ...

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