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|9 9|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...
Click here for full text