F\N.
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 an ordinance authorizing the execution of an intergovernmental agreement with the Board of Education for TIF assistance for Henry D. Lloyd Elementary School.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
S:\SHARED\Finance\Gaynor
NewAHousing & Econ Dev\Lloyd\ord 1.doc
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois; and
WHEREAS, the Board of Education of the City of Chicago (the "Board") is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois; and
WHEREAS, pursuant to the provisions of an act to authorize the creation of public building commissions and to define their rights, powers and duties under the Public Building Commission Act (50 ILCS 20/1 et sejg.), the City Council of the City (the "City Council") created the Public Building Commission of Chicago (the "Commission") to facilitate the acquisition and construction of public buildings and facilities; and
WHEREAS, the Commission owns in trust for the Board certain real property located at 2103 North Lamon Avenue in Chicago, Illinois (the "Lloyd Property"); and
WHEREAS, the Board is constructing an artificial turf athletic field (the "Lloyd Facility") at Lloyd Elementary School on the Lloyd Property (the construction of the Lloyd Facility shall be known as the "Lloyd Project"); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects t...
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