Office of the City Clerk - Record #: O2023-1052

• Record #: O2023-1052
• Type: Ordinance
• Status: Passed
• Intro date: 2/1/2023
• Current Controlling Legislative Body: Committee on Finance
• Final action: 3/15/2023
• Title: Redevelopment agreement with and allocation of Tax Incremental Financing (TIF) funds to German American National Congress Chapter Chicago - North, and D.A.N.K. House d.b.a. DANK Haus German American Cultural Center for completion of certain improvements to building at 4740 N Western Ave
• Sponsors: Lightfoot, Lori E.
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
3/15/2023	60895	City Council	Passed	Pass
3/13/2023		Committee on Finance
2/1/2023	60173	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

February 1, 2023










TO THE HONORABLE, THE CITY COUNCIL OF THE CI TY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, 1 transmit herewith an ordinance authorizing the execution of a TIF redevelopment agreement with DANK Haus to reimburse development costs.

Your favorable consideration ofthis ordinance will be appreciated.


Very truly you

ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on January 12, 2000 and published at pages 22394 to 22494 of the Journal of the Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Western Avenue North Plan and Project") for the Western Avenue North Redevelopment Project Area (the "Western Avenue North Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seg.) (the "Act"); and
WHEREAS, pursuant to an ordinance adopted by the City Council on January 12, 2000, and published at pages 22495 to 22507 of the Journal of such date, the Western Avenue North Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an ordinance adopted by the City Council on January 12, 2000 (the "Western Avenue North TIF Ordinance") and published at pages 22507 to 22521 of the Journal of such date, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain redevelopment project costs, as defined in the Act, incurred pursuant to the Western Avenue North Plan and Project (as defined herein) and directed that the allocation of ad valorem taxes arising from levies by taxing districts upon the taxable real property in the Western Avenue North Area and tax rates be divided in accordance with the Act and as described in the Western Avenue North TIF Ordinance; and
W...