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Record #: O2011-1031   
Type: Ordinance Status: Passed
Intro date: 2/9/2011 Current Controlling Legislative Body: Committee on Finance
Final action: 3/9/2011
Title: Agreement with Neighborhood Housing Services of Chicago, Inc. for administration of Englewood Tax Increment Financing (TIF) Neighborhood Improvement Program
Sponsors: Daley, Richard M.
Topic: TAX INCREMENT FINANCING DISTRICTS - Englewood Neighborhood T.I.F.
Attachments: 1. O2011-1031.pdf

FifV.
RICHARD M. DALEY
MAYOR
OFFICE OF THE MAYOR
CITY OF CHICAGO
February 9, 2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development, I transmit herewith an ordinance authorizing the execution of an agreement with Neighborhood Housing Services for the Englewood TIF-Neighborhood Improvement Program.
Your favorable consideration of this ordinance will be appreciated.

( ( f (
ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on June 27, 2001, a certain redevelopment plan and project (the "Englewood Neighborhood Plan") for the Englewood Neighborhood Redevelopment Project Area (the "Englewood Neighborhood 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 June 27, 2001, the Englewood Neighborhood Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance adopted by the City Council on June 27, 2001, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Englewood Neighborhood Area redevelopment project costs (as defined in the Act) incurred pursuant to the Englewood Neighborhood Plan; and
WHEREAS, the City, through its Department of Housing and Economic Development ("DHED"), established a TIF Neighborhood Improvement program to fund improvements to single-family residential properties in the Englewood Neighborhood Area (the "Englewood Neighborhood Program") and had entered into an agreement in 2005 (the "2005 NHS Agreement") with Neighborhood Housing Services of Chicago, Inc., an Illinois not-for-profit corporation ("NHS"), which 2005 NHS Agreement continues in full force and effect, pursuant to which NHS is performing certain administrative ...

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