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Record #: O2011-3776   
Type: Ordinance Status: Passed
Intro date: 5/4/2011 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 6/8/2011
Title: Sale of City-owned property at 1001-1011 W 79th St to Lots of Love Community Center NFP
Sponsors: Daley, Richard M.
Topic: PROPERTY - Sale
Attachments: 1. O2011-3776.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALEY
MAYOR
May 4, 2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Housing and Economic Development, I transmit herewith ordinances authorizing the sale of city-owned property.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City is the owner of the parcels of real property commonly known as 1001-1011 W. 79th Street, Chicago, Illinois (P.I.N. 20-32-203-005 and P.I.N. 20-32-203-006) (subject to final title commitment and survey, the "City Land"); and
WHEREAS, pursuant to ordinances adopted by the City Council ("City Council") of the City of Chicago (the "City") on July 8, 1998 and published at pages 72438-72510 ofthe Journal ofthe Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Plan") for the 79th Street Corridor Tax Increment Financing Redevelopment Project Area, (the "Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (currently codified at 65 ILCS 5/11-74.4-1 et se_j.) (the "Act"), the Area was designated as a "conservation area" redevelopment project area pursuant to the Act, and tax increment allocation financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and
WHEREAS, the City Land is located in the Area; and
WHEREAS, Lots of Love Community Center NFP, an Illinois not-for-profit corporation (the "Developer"), has submitted a proposal to the Department of Housing and Economic Development (the "Department") t...

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