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Record #: O2023-996   
Type: Ordinance Status: Passed
Intro date: 2/1/2023 Current Controlling Legislative Body: Committee on Finance
Final action: 2/1/2023
Title: Approval of Amendment No. 1 to Madden/Wells Redevelopment Project Area Redevelopment Plan for expansion of project area
Sponsors: Dept./Agency
Topic: TAX INCREMENT FINANCING DISTRICTS - Madden/Wells T.I.F. - Approval
Attachments: 1. O2023-996.pdf
CHICAGO February 1. 2023

To the President and Members of the City Council:

Your Committee on Finance having had under consideration a communication recommending a proposed ordinance regarding the authority to enter into and execute the approval of Amendment No. 1 to Madden/Wells Redevelopment Project Area Redevelopment Plan for expansion of project area.

Direct Introduction





















Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed


This recommendation was concurred in by viva voce vote of members of the
committee with|99|dissenting vote(s).
Chairman


Respectfully submitted,


Department of Planning and Development
city of chicago





January 31, 2023



TO THE HONORABLE, THE CHAIRMAN AND MEMBERS OF THE CITY OF CHICAGO COMMITTEE ON FINANCE

Ladies and Gentlemen:

I transmit herewith ordinances the 1st amendment to the Madden/Wells TIF Redevelopment Project and Plan.
Your favorable consideration of these ordinances will be appreciated. Very truly yours,


Maurice D. Cox,

Commissioner















121 NORTH LASALLE STREET, ROOM 1000, CHICAGO, ILLINOIS G0602
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS APPROVING AMENDMENT #1 TO THE REDEVELOPMENT PLAN FOR THE MADDENA/VELLS REDEVELOPMENT PROJECT AREA

WHEREAS, the City of Chicago (the "City"), by an ordinance adopted by the City Council of the City (the "City Council") on November 6, 2002, approved a redevelopment plan (the "Original Plan") for a portion ofthe City known as the Madden/Wells 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 6, 2002 designating the Original Redevelopment Project Area as a redevelopment project...

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