OFFICE OF THE MAYOR
CITV OF CHICAGO
LORI E. LIGHTFOOT MAYOR
December 14, 2022
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinances authorizing the 6th amendment to the Bronzeville TIF Redevelopment Project and Plan.
Your favorable consideration of these ordinances will be appreciated.
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING THE EXPANDED BRONZEVILLE REDEVELOPMENT PROJECT AREA A REDEVELOPMENT PROJECT AREA PURSUANT TO THE TAX INCREMENT ALLOCATION REDEVELOPMENT ACT
WHEREAS, the City of Chicago (the "City"), by an ordinance adopted by the City Council of the City (the "City Council") on November 4, 1998, approved a redevelopment plan (the "Original Plan") for a portion of the City known as the Bronzeville Redevelopment Project Area (the "Original Redevelopment Project Area") for the purpose of implementing tax increment allocation financing ("Tax Increment Allocation Financing") pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seg., as amended (the "Act"); and
WHEREAS, the City Council adopted an ordinance on November 4, 1998 designating the Original Redevelopment Project Area as a redevelopment project area pursuant to the Act; and
WHEREAS, the City Council adopted an ordinance on November 4, 1998 adopting Tax Increment Allocation Financing forthe Original Redevelopment Project Area pursuant to the Act; and
WHEREAS, The Original Redevelopment Project Area was previously amended (i) on July 29, 2003, (ii) on December 7, 2005, (iii) on October 8, 2014, adding area to it (as amended, the "Amended Original Redevelopment Project Area"), (iv) on June 28, 2017 and (v)on October 26, 2022, to extend the termination date of the Amended Original Redevelopment Area; and
WHEREAS, it is desirable and in the best interests of the citizens of the City for the City to encourage developmen...
Click here for full text