Office of the City Clerk - Record #: O2011-2923

• Record #: O2011-2923
• Type: Ordinance
• Status: Passed
• Intro date: 4/13/2011
• Current Controlling Legislative Body: Committee on Finance
• Final action: 5/4/2011
• Title: Agreement with Neighborhood Housing Services of Chicago, Inc. for administration of Tax Increment Financing (TIF) Neighborhood Improvement Program - 47th/King Drive
• Sponsors: Daley, Richard M.
• Topic: TAX INCREMENT FINANCING DISTRICTS - 47th/King T.I.F.

Date	Journal Page Number	Action By	Action	Result
5/10/2011	114362	Office of the Mayor	Signed by Mayor	Pass
5/4/2011	116408	City Council	Passed	Pass
5/2/2011		Committee on Finance	Recommended to Pass	Pass
4/13/2011	114362	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALEY
MAYOR
April 13, 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 ordinances authorizing the execution of agreements with Neighborhood Housing Services for various TIF-Neighborhood Improvement programs.
Your favorable consideration of these ordinances will be appreciated.

ORDINANCE
WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on March 27, 2002, a certain redevelopment plan and project (the "47th/King Drive Plan") for the 47th/King Drive Redevelopment Project Area (the "47th/King Drive 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 March 27, 2002, the 47th/King Drive Area was designated as a redevelopment project area pursuant to the Act; and
WHEREAS, pursuant to an ordinance adopted by the City Council on March 27, 2002, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain 47th/King Drive Area redevelopment project costs (as defined in the Act) incurred pursuant to the 47th/King Drive Plan; and
WHEREAS, the City, through its Department of Housing and Economic Development ("HED"), established a TIF Neighborhood Improvement program to fund improvements to single-family residential properties in the 47th/King Drive Area (the "47th/King Drive Neighborhood Program") and entered into an agreement on May 6, 2010 (the "NHS Agreement") with Neighborhood Housing Services of Chicago, Inc., an Illinois "not-for-profit corporation ("NHS"), which NHS Agreement continues in full force and effect, pursuant to which NHS is performing certain administrative services for the 47th/King Drive Neighborhood Program; and
WHEREAS, HE...