Share to Facebook Share to Twitter Bookmark and Share
Record #: O2011-4703   
Type: Ordinance Status: Passed
Intro date: 6/8/2011 Current Controlling Legislative Body: Committee on Finance
Final action: 7/6/2011
Title: Intergovernment agreement with Chicago Board of Education for improvements to Kenwood Academy
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Intergovernmental
Attachments: 1. O2011-4703.pdf
S:\SHARED\Finance\Gayrior New\Housing & 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 seg.). 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 5015 South Blackstone Avenue in Chicago, Illinois (the "Kenwood Academy Property"); and
WHEREAS, the Board has rehabilitated a high school (the "Kenwood Academy Facility") known as Kenwood Academy High School on the Kenwood Academy Property (the rehabilitation of the Kenwood Academy Facility shall be known as the " Kenwood Academy 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 seg., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, to induce certain redevelopment pursuant to the Act, the City Council adopted the following ordinances on January 10, 2001: approving and adopting a tax increment redevelopment project and plan for the 53rd Street Redevelopment Project Area; designating the 53rd Stree...

Click here for full text