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Type:
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Ordinance
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Status:
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Passed
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Title:
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Termination of Roosevelt/Union Tax Increment Financing Redevelopment Project and Plan as of December 31, 2022 with provision for calculation and redistribution of surplus revenue to local taxing district
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Topic:
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TAX INCREMENT FINANCING DISTRICTS - Roosevelt/Union T.I.F.
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Attachments:
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1. O2022-2987.pdf
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OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF' CHICAGO
Ladies and Gentlemen:
At the request ofthc Commissioner of Planning and Development, I transmit herewith ordinances authorizing the termination of the Archer Courts, Montclare, Peterson/Cicero and Roosevelt/Union TIF districts.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours,
ayor
ORDINANCE
WHEREAS, the City Council (the "City Council") of the City of Chicago (the "City") adopted ordinances in accordance with the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et sea,, (the "Act") on May 12, 1999, and published at pages 898 to 1004 of the Journal of the Proceedings of the City Council (the "Journal"), and amended such ordinances on November 10, 1999 via an ordinance published at pages 14794-14797 of the Journal: (1) approving a tax increment redevelopment project and plan for the Roosevelt/Union Redevelopment Project Area (the "Area"); (2) designating the Area as a tax increment financing district; and (3) adopting tax increment allocation financing for the Area; and
WHEREAS, pursuant to Section 8 of the Act ("Section 8"), when redevelopment projects costs for a redevelopment project area, including without limitation all municipal obligations financing redevelopment project costs incurred under the Act, have been paid, all surplus funds then remaining in the special tax allocation fund for a redevelopment project area designated under the Act shall be distributed by being paid by the municipal treasurer to the State of Illinois Department of Revenue, the municipality and the county collector; first to the Department of Revenue and the municipality in direct proportion to the tax incremental revenue received from the State of Illinois and the municipality, but not to exceed the total incremental revenue received from the State or the municipality less any annual surplus distribution of incremental revenue previously made; with any remaining funds to be paid to the county collector who shall immediately thereafter pay said funds to the taxing districts in the redevelopment project area in the same manner and proportion as the most recent distribution by the county collector to the affected districts of real property taxes from real property in the redevelopment project area; and
WHEREAS, furthermore, pursuant to Section 8, upon the payment of all redevelopment project costs, the retirement of obligations, the distribution of any excess monies pursuant to Section 8, and final closing of the books and records of the redevelopment project area, the municipality shall adopt an ordinance dissolving the special tax allocation fund for the redevelopment project area and terminating the designation of the redevelopment project area as a redevelopment project area; and
WHEREAS, furthermore, pursuant to Section 8, municipalities shall notify affected taxing districts prior to November 1 if a redevelopment project area is to be terminated by December 31 of that same year; and
WHEREAS, the City has, prior to November 1, 2022, notified the affected taxing districts of the proposed termination of the Area as a redevelopment project area, in accordance with the provisions of the Act; and
WHEREAS, with respect to the Area, by December 31, 2022 all redevelopment projects for which redevelopment project costs have been paid or incurred shall be completed, all obligations relating thereto shall be paid and retired, and, subject to Section 3 of this Ordinance, all excess monies, if any, shall be distributed; and
WHEREAS, subject to Section 3 of this Ordinance, the City shall accomplish the final closing of the books and records of the Area; and
WHEREAS, in accordance with the provisions of Section 8, the City desires to dissolve the special tax allocation fund for the Area (the "Special Fund") and terminate the designation of the Area as a redevelopment project area as of December 31, 2022; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
Section 1. The above recitals are incorporated herein and made a part hereof.
Section 2. The designation of the Area legally described on Exhibit A attached hereto and otherwise depicted on Exhibit B attached hereto shall be terminated as of December 31, 2022. The list of parcels comprising the Area is attached hereto as Exhibit C.
Section 3. Notwithstanding Section 2 hereof, it is anticipated that the City will continue to receive incremental property taxes for assessment year 2021 /collection year 2022. Accordingly, although the designation of the Area is repealed by Section 2 hereof, the City will continue to maintain the Special Fund for the limited purpose of receiving any remaining incremental property taxes for assessment year 2021/collection year 2022. Pursuant to the Act, upon receipt of such taxes, the City shall calculate and declare surplus revenue, and shall return surplus revenue to the Cook County Treasurer in a timely manner for redistribution to the local taxing districts that overlap the Area. Thereupon, the Special Fund shall be considered to be dissolved.
Section 4. The method of calculating and allocating property tax increment by the County of Cook pursuant to the Act for the parcels listed on Exhibit C shall be terminated from and after December 31, 2022.
Section 5. The Commissioner of the Department of Planning and Development (the "Commissioner"), or a designee thereof, is authorized to execute any documents and take any steps necessary to terminate the designation of the Area pursuant to this Ordinance and the Act on behalf of the City, and the previous execution of any documents and the previous taking of any steps necessary to terminate the designation of the Area pursuant to the Act by the Commissioner, or a designee thereof, on behalf of the City are hereby ratified.
Section 6. This Ordinance shall be in full force and effect upon its passage and approval.
Section 7. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity of section, paragraph, clause or provision shall not affect any of the other provisions of this,Ordinance.
Section 8. All ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this Ordinance are hereby repealed to the extent of their conflict.
Exhibit A, Area Description
That part of the east half of the northeast quarter of Section 20, Township 39 North, Range 14 East of the Third Principal Meridian and the west half of the northwest quarter of Section 21, Township 39 North, Range 14 East of the Third Principal Meridian, described as beginning at the intersection of the northerly extension of the westerly right-of-way line of Newberry Avenue and the centerline of Roosevelt Road; thence easterly along said centerline of Roosevelt Road to the northerly extension of the easterly right-of-way line of Union Avenue; thence southerly along said northerly extension and easterly right-of-way line to the easterly extension of the southerly lines of Lots 14, 15 and 16 in Canal Trustee's New Subdivision in the northwest quarter of Section 21, Township 39 North, Range 14 East of the Third Principal Meridian in Cook County, Illinois, recorded May 17, 1852; thence westerly along said southerly line, said line also being the northerly right-of-way line of Depot Street to the easterly right-of-way line of Halsted Street, thence northerly along said easterly right-of-way line to the easterly extension of the southerly lines of Lots 7 and 26 in Block 30 in Barron's Subdivision of Brand's Addition to Chicago, being a subdivision in the east half of the northeast quarter of Section 20. Township 39 North, Range 14 East of the Third Principal Meridian, recorded June 10,1861; thence: westerly along (said easterly extension, the said southerly lines of Lots 26 arid 7 in Block 30 in Barron's Subdivision, the southerly lines of Lots 26 and 7 in Block 29 in said subdivision, the southerly line of Block 28 in Brand's Addition to Chicago, being a subdivision in the easterly half of the northeast quarter of Section 20, Township 39 North, Range 14 East of the Third Principal Meridian and the southerly lines of Lots 26 and 7 in Block 27 in said Barron's Subdivision] the southerly line of Lois 7 and 26 in Block 30 and along the southerly lines of Lots 7 and 26 in Block 29 and their easterly and westerly extensions in said Barron s Subdivision of Brand's Addition to Chicago to the southusest corner of Lot 7 in said Block 29; thence westerly to a point on the cast line of Block 28 in Brand 's Addition to Chicago, being a subdivision of the east half of the northeast quarter of said Section 20, said poini being 164.41 feet south of the northeast corner of said Block 23; thence westerly to a point on the west line of said Block 28, said point being 164.37 feet south of the northwest corner of said Block 28; thence westerly to the southeast corner of Ijot 26 in Block 27 in said Barron's Subdivision; thence westerly along the southerly line of Lots 7 and 26 in said Block 27 and the westerly extension thereof to the westerly right-of-way line of Morgan Street; thence northerly along said westerly line to the westerly extension of the northerly right-of-way line of 14!,) Place; thence easterly along said extension and said northerly line of 14th Place to said westerly right-of-way line of Newberry Avenue; thence northerly along said line to the point of beginning, all in Cook County, Illinois.
Exhibit B, Area Map
Redevelopment Project Area Map
Rccssvelt ■ Un.on Redevelopment Proiert Area MAP 5
\ A-ea Mao *r~*~*r* Fedeve-zomenl ProieS Sour-Jary
I win Sct-.oois. Partes,
jj Facilities Q par^
Exhibit C, List of Parcels within the Area
1997 Equalized Assessed Valuation
EAV
| 17 20 206 001 | 3127.213
I 1? 20 206 023
i -.7 20 206 024
I 17 20 206 033 i $131.429 i ..."'.120 206 036 i $73.293 : 17 20 206 037 j $40.453
I 1 7 20 206 03S I 17 20 20-a 040
17 20 206 C"31 1'" 20 206 0<t2
3
10 ! 1 12_ :.3 14 l 5
16 1?
19_
20
21
23_ 25
2S_
30
31 32_ 33 34
37 33
EAV
Permanent Index Number
|
35
40 |
i ;7 20 206 047 |
$65,142 |
|
I 17 20 206 043 |
S59.S20 |
|
41 | 17 20 206 049 I Exempt |
|
42 j 17 2C 206 050 |
Exempt |
|
43 ! 17 20 206 051 |
Exemol |
|
44 i 'i7 20 206 053 |
Exempt |
|
45 I 17 20 218 001 |
Exempt |
|
46 |
17 20 218 002 ( Exampt |
|
47 ! 17 20 218 003 i Efflmpt |
|
48 I 17 20 216 004 |
Exempt |
|
4.9 i 17 20 218 005 |
Exempt |
|
50 i 17 20 218 006 |
Exemol |
|
51 I 17 20 218 007 |
ExE.Tipt |
|
52 i 17 20 213 001! |
Exampt |
|
53
54 |
17 20 213 003 ; Exempt |
|
1 17 20 213 010 Exempt |
|
55 i 17 20 213 011 j Exempt |
|
56 I 17 20 218 012 | Exempt |
|
57 |
17 20218013 i Exampl |
|
53 |
17 20 219 011 i Exempt |
|
59 |
17 20 21 3 015 1 Exempt |
|
60 > 17 20213 016 i Exempt |
|
S\ ; 17 2-3 218 017 |
Exempt |
|
62 ! '7 20218 018 |
Exempt |
|
63 j 17 20218 019 |
Exempt |
|
e.4 ! 17 20 219 020 : Bxemoi. |
|
65 ! 17 20 21S 021 |
Exempt |
|
66 172C 213 022 |
Exempt |
|
57 i 17 20 218 023 |
Exempt |
|
68 ! 17 20 213 054 |
Exempt |
|
69 |
17 20 218 025 i Exemd |
|
70 |
17 20 218 CSS i Exempt |
|
71 i 17 20 219 027 ' Exemol |
|
72 i 1/20 224 001 i Exempt |
|
73 i 17 20 224 002 | Exempt |
|
74 |
7 20 224 003 i Exempt |
|
75 |
17 20 224 004 | Exempt |
|
76 |
"t "—"
17 20 224 005 1 Exempt |
|
77 i 17 20 224 G03 i F.xemot |
78
Exempt
Exampt
20 224 009 |
|
79 j 17 20 224 010 i Exempt |
|
30 i 17 20 224 011 |
Exempt |
|
31 I 17 20 224 012 |
Exempt |
|
32 ■ 17 20 224 013 ! Exempt |
|
63 ! 17 20 224 014 ; Exempt |
|
84 i 17 20 224 055 | Exempt |
|
85 I 17 20 224 016 ! ExeftlO! |
|
56 \ 17 20 224 017 • Exempt |
|
67 |
17 20 224 C-18 ; Exempt |
|
88 |
1 1
17 20 224 019 i Exempt |
|
89 |
1 7 20 224 020 |
Exempt |
|
90 |
17 20 224 021 i Exempt |
|
9! |
17 20 2.24 022 i Exempt |
|
92 |
17 20 224 023 i Exempt |
|
33 |
17 20 224 024 I Exemol |
|
94 |
17 20 224 025 ! Exempt |
|
95 |
17 20 224 025 ! Exempt |
|
96 i 17 20 224 027 ! Exempl |
|
97 ! 1 7 20 224 023 |
Exempi |
|
98 ' 17 20 223 005 |
Exempt |
|
99 |
17 20 22SJ 0C6 |
Exempt |
|
100 |
17 20 228 COi) ! Exempt |
|
1C1 |
17 20 229 001 ! ExQmd |
|
102 j 17 20 229 002 ! Exempt |
|
103 |
17 20 229 003 I Exempt |
|
IM |
17 20 229C04 j Exempt |
|
10S |
17 20 229 005 I Exempt |
|
106 |
17 20 229 006 I Exempt |
|
107 1 17 20 22S 007 i Exempt |
|
108 i 17 20 229 008 I Exempt |
|
109 ! 17 20 229 009 i Exsm.pt |
|
110 ; 17 20 229 010 ! Exempt |
|
111 17 2 0 22 9 011 i Examui |
|
112 '.7 20 229 012 i Exempt |
|
113 j 17 20 223 013 |
Exempt |
|
114 i 17 20 229 014 |
Exempt |
|
115 ! 17 20 229 015 i Exempt |
|
US ! 17 20 225 016 ! Exempt |
Exempt
20 223 018 I
Exempt Exempt
■ 20 223 311
7 20 229 019
118
7 20 229 020
1 19
120
Exempt
7 20 223 051
20 229 024
Exernpt
20 229 023
Exem.pt
121 122 123
125
Exempt
17 20 229 027
Exempl
127
Exempt
128 12p__ 130 131
17 20 229 02 S 17 20 230 001
ExeJiipt
I 17 20 230 002
Exempt
20 230 003
ixerr.pt
I 17 20 230 004
Exempt
17 20 230 005
Exempt
133. i34_ !35
17 20 230 006
rxemp;
1 20 230 007
Exampt
I 17 20 230 QC8
exempt
136
17 20 230 009
137
Exempt
17 20 230 010
133
Exempt
17 20 230 011
exempt
17 20 230 012
Exempt
140 141
i 17 20 230 013
Exempt
17 20 230 014
142
-xemp'
' 20 230 01;
cxiemp?
143 144
50 230 016 i
Exempt
17 20 230 017
Exempt
145
17 20 230 013 I
146
Exemgl
1 7 20 230 019
47
exempt
17 20 230 020
146
17 20 230 C21
149
150__ "51
17 20 231 001
Exempt
17 20 231 004 ! Exempt
i 17 20 231 005 i
152
Exempt
! 17 20 231 009
Exempt
15.3
011
17 20 231 010 I
15-1
Exempt
17 20
Exsmol
17 20 231 012
■5b
' 20 231 C13
3R
17 20 500 010
HR
153
157 I 17 20 500 01
1S9_ 160 61
17 20 SCO 012
R.H
' 20 500 013
fift
17 20 500 014
RR
162
17 20 500 015
RR
163
17 20 £00 016
RR
164 165 166
20 500 017
'20 500 013 I
RR
17 20 300 019 1 1 7 20 500 020 '
RR
167
_R_R
133
l£9_ ■ 71"1
17 20 500 021 1 7 20 500 022
1 7 20 500 023 !
17 21 100 002
|
1'-.! |
17 2". 100 004 ! Etsmc' |
|
vn |
■ 17 5: -.iWiKS ! Exemct |
|
171 ; !<» 506 j Emmol |
|
175 ■ 17 21 100 007 ! Sxawfi |
|
V'5 : 17 21 100 COS Eternal |
|
■77 ! i;.l" 100 005 i SM.;13 |
|
1 |
17 21 100 0:0 i S22.002 |
|
179 |
17 21 ;OOOI2 |
|
|
130 |
1'2I ICO 013 |
E.tanpl |
|
151 17 21 ICO ."14 ! tserriDI |
|
1ft2 '< 17 21 100 015 |
F./P.T.;: |
|
133 1 17 2" 101) 0'.5 |
Exempt |
|
is-; |
17 21 100 017 |
txiimpl |
|
185 |
17 21 ICO »18 |
Exenpl |
|
18G |
17 a MCO 019 i Ewmpt |
|
•.87 i ',7 21 100 0.20 |
S21.128 |
|
133 i 1? 21 100 021 |
■Fjcnrrpi |
|
1HS 1 1' 2' 100 022 |
E««rnDr |
|
190 ! 17 21 «.OB05.3 |
|
|
-31 : 17 21 i.;c I2.i |
Exonpt |
|
132 |
17 21 IOC 226 |
Exemijt |
|
-S3 |
17 21 100 026 |
|
|
l;i4 |
17 2 ■■ 100 027 |
S33.390 |
|
195 |
'7 21 153 1123 |
E«mpi |
|
19i-1 |
17 21 100 029 |
EaBmpI |
|
|
. 17 21 1 CO O30 |
Exemol |
|
■ ■ ■ |
17 21 100 031 |
Ej*e.tipi |
|
155 |
17 21 103 001 |
562,0-77 |
|
2CG |
17 2\ 103 002 |
SM.3H'i |
|
rji |
■■7 21 -.05 003 |
S3 1.261 |
|
?.C2 |
1-21 \-32 0iA |
S54.0S4 |
|
203 1/ 21 IC3 ZCi |
^.wo |
|
: -7 21 103 Mii ' 516.e*5 |
|
EOS |
17 21 103 007 |
S9S-W1 |
|
205 |
17 2". 103 ooa |
|
|
207 |
17 I- 105 001 |
£73.35: |
|
208 |
-.7 21 -.OS 005! |
|
|
209 ! '.-.il iMoa |
i7i.0-2 |
|
:-:in i r 21 ic ; :<!4 |
32'J2i2 |
|
21-. • 17 "11.-5 cos |
jawnpi |
|
■■■■U : 17 21 105 006 S37.3S7 |
|
2i2 ; 1721 i nr. 007 |
S39.«0 |
|
21J ■ 17 2: 105 OOS |
sic; ai'j |
|
215 : 17 2: -.35 |
E«mP! |
|
216 i? 2" v:-:- ::io |
Exempt |
|
?17 1 1 7 21 105 ill ! Exempt |
|
2-.o 1 1T2' itti ;;ii ■ Ex*;ix» |
|
2i9 ! I7;;i JC3G1J i S«aroc< |
|
<:?n i r/2' -.cscia |
F.Bjnpl |
|
22'. ' 17 21 10S 015 |
ExemiM |
|
£22 1 17 21 106 OM 1 S^.Tipl |
|
3*3 : V.-2I 103 3C3 ' S43.J13 |
|
221 1 1721 1£« 504 SJC.9W |
|
225 |
1?;:: 5C8005 i i;:3675 |
|
!2S |
17 21 100 00b |
.fe>Sifp> |
|
227 |
17 21 ICR 007 |
32?.MV |
|
223 |
17 21 108 ora |
E.<E,-ns- |
|
229 |
17 2' ICS XV |
31.75! |
|
230 |
17 21 SC8C10 |
E«mct |
|
231 ' 17 21 108 011 |
51.792 |
|
232 |
17 ;;i 106 012 |
S?0.7S6 |
|
|
17 21 10A314 |
S1 792 |
|
23-1 |
17 21 10B 316 ' { S3.713 |
|
|
17 z- ioa cie ; s2 4.;s |
|
236 ' 17 2' lOf) 013 ! Ejcrcip: |
|
2J7 i 1' 21 106 OK i F>empt |
|
238 ; 17 21 109 02? |
|
|
239 ! -7 21 108 923 |
. 53,47^ |
|
241) |
i7 2ii-:ac24 3i?g.a8-i |
|
2-11 |
17 21 108 0?:; |
5S9.596 |
|
242 1 17 ;i I0K OK |
.. 5123H |
|
■1A.1 |
17 21 105 C27 |
S621 |
|
|
17 21 111 OC1 |
_ 3**r-V _ |
|
245 ! 1/21 111 CG2 j f^niTc; |
|
246 i 17 2: in CO; i Exemo* |
|
247 .' 17 21 1 11 004 '■ Exrcinpi |
|
,74*1 |
17 2! Ill OO7 ! Ej,T?mo! |
|
|
1721 IV 0C3 1 S25.129 |
|
250 |
'. 7 21 f.l CC9 $41,841 |
|
?5.L.- |
17 2: in 21IJ : fcjieiT;: |
|
|
IV 21 i i i 01 '■ ' E.Kimot |
|
762 ■ 17 21 :n Q1- S5.C35 |
|
254 1 17 Jl 111 0'3 |
52. CSS |
|
SS5 |
17 21 1: "■ 014 |
5,2.095 |
|
236 |
17 21 1-1 01 b E>6:npl |
|
Mi': |
1721 111 C16 I SSJI.^6 |
|
|
17 ?: : 11 ';i |
5: 724 |
|
|
17 21 in 018 |
EjAimpI |
|
260 |
17 21 111013 |
Exempl |
|
?S1 |
l'ill Hi 02C |
Eieiapl |
|
C62 i S- 21 1 ■■ 1 021 |
F.i«r-ni[y1 |
|
263 |
17 2: iii ~:;:; 1 |
|
304 |
17 2- 1 ' 1 023 : |
|
' 17 21 Mi (V4 i E«nici |
|
256 i '7,y nt 025 ! e«r>0t |
|
SS? : 17 2- -,:i 026 |
Eampl |
|
256 : 17 2: 111 027 |
|
|
20.S ' IV 2! 111 026 |
E.8>n=: |
|
?.'C 17 2: ! 14 illYi i 538.199 |
|
271 ; 17X1 U4 ZC3 Ettirot |
|
77, |
17 2- 114 M9 ' Ewmpi |
|
272 |
17 21 114 CIO ! Ewinpl |
|
27a |
1721 114 011 ; Emit,:; |
|
??i 17 21 V.4 0M ' Eiewpt |
|
276 |
17 ?i i M -.13 =>Bmot |
|
r;v |
17 21 114 014 |
E«mpl |
|
27" |
17 21 114 015 |
Exemui |
|
;■■'■) |
17 21 111 OlB |
tamer |
|
230 i 17 21H.1017 |
525.260 |
|
|
17 21 114 013 |
.561,162 |
|
232 |
17 21 117 0.71 |
5117.383 |
|
232 ! 17 2-1 117 032 |
S45.522 |
|
*M ! »7 21 117 033 ! 334,739 |
|
235 1 17 21 117 01-1 |
$43 466 |
|
as '. </2". V7W.5 |
|
|
237 |
17 21 120 C30 |
si3G.asn |
|
22S |
17 21 123 004 |
E«mD1 |
|
2E9 ' 17 21 121:005 1 E.te.npl |
|
230 |
-, .•21 123 00S i f.terrzi |
|
231 |
:7 2i i:a oo? i EjXiiRci |
|
292 |
17 2- 123 CC6 1 Exempt |
|
|
17 21 123C09 Sxampt |
|
294 '■- 17 21 123 010 |
|
|
?S5 ' 17 21 123 011 |
£witi?.: . . |
|
23*. ! -.7 21 133 012 |
ExfeT.il |
|
297 ! 17 21 123 013 |
F.xgmpt |
|
|
17 21 123 014 i Eremal |
|
299 |
17^1 123 015 |
Sx-ljmpl |
|
JOC . 17 21 123 016 |
_. "wR'M |
|
301 ! 1721 123017 • Ewsmpl |
|
3S2 ! 17 21 123 0-fi |
|
|
203 1 1- 21 123 019 |
|
|
304 i 17 2' 5 23 320 |
_. ^ei....... |
|
305 | 17 21 123 221 |
Eicmpl |
|
.108 . 17 21 123 022 |
E.enpl |
|
307 , 1721 123 023 ' Eser.pl |
313 ; iV2i 125 :oe .i HJ2i5._
51.36.53f,
: j 17 21 12S007 ; KP
3115 _ _ 17 21 '33 JC2
'31511001
S3.956.563
:>i ;7 21 5U_0C2_
|