Office of the City Clerk - Record #: O2011-1397

• Record #: O2011-1397
• Type: Ordinance
• Status: Passed
• Intro date: 3/9/2011
• Current Controlling Legislative Body: Committee on Finance
• Final action: 4/13/2011
• Title: Revision No. 5 to Near South Tax Increment Financing (TIF) Redevelopment Plan
• Sponsors: Daley, Richard M.
• Topic: TAX INCREMENT FINANCING DISTRICTS - 47th/Ashland T.I.F., - TAX INCREMENT FINANCING DISTRICTS - Near South Am. #1 - Central Station T.I.F.

Date	Journal Page Number	Action By	Action	Result
4/29/2011		Office of the Mayor	Signed by Mayor	Pass
4/13/2011	114565	City Council	Passed	Pass
3/9/2011	112751	City Council	Referred

A,
CHICAGO April 13.2011 To the President and Members of the City Council: Your Committee on Finance having had under consideration
Three (3) ordinances approving Amendment #5 to the Near South Tax Increment Financing Redevelopment Plan and Project.
A. An ordinance authorizing the approval of Revision #5 to the Redevelopment Plan for the Near South TIF Redevelopment Area.
B. An ordinance designating the Near South Tax Increment Financing 2011 Expanded Project Area as a Redevelopment Area.
C. An ordinance adopting Tax Increment Financing for the Near South Tax Increment Financing 2011 Expanded Project Area.
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed
Ordinance Transmitted Herewith
This recommendation was concurred in by of members of the committee with
(^fviva voce vote1
dissenting votefjsjT
RespBctfuUy submitted
(signe

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Chairman
S:\Finance\Gaynor New\Planning\TIFs\Near South ArnendmentNNearSouth TIF Amend Approval Ord 2011 Version 3.doc
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS APPROVING REVISION NUMBER 5 TO THE REDEVELOPMENT PLAN FOR THE NEAR SOUTH TAX INCREMENT FINANCING REDEVELOPMENT AREA
WHEREAS, under ordinances adopted on November 28,1990, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 25969 to 26047, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et s§g,, as amended (the "Act"), the City Council (the "City Council") of the City of Chicago (the "City"): (i) approved the "Central Station Area Tax Increment Financing Redevelopment Project and Plan" (the "Central Station Plan") for a portion of the City known as the "Central Station Project Area" (the "1990 Original Project Area") (the "Original Plan Ordinance"); (ii) designated the 1990 Original Project Area as a "redevelopment project area" within the requirements of the Act ...