, ( CHICAGO July 28, 2011
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
An ordinance authorizing Amendment #3 to the Near West Tax Increment Financing Redevelopment Plan and Project.
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
(sign
Respectfully submitted
Chairman
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 6,2011
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, 1 transmit herewith an ordinance amending the budget for the Near West fax Increment Financing District.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
Mayor
ORDINANCE
WHEREAS, under ordinances adopted on March 23,1989, and published in the Journal of Proceedings of the City Council of the City of Chicago (the "Journal") for such date at pages 25874 to 25933, and under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4.1 et seg., as amended (the "Act"), the City Council (the "Corporate Authorities") of the City of Chicago (the "City"): (i) approved a redevelopment plan and project (the "Original Plan") for a portion of the City known as the "Madison/Racine Redevelopment Project Area" (the "Original Area"); (ii) designated the Original Area as a "redevelopment project area" within the requirements of the Act; and (iii) adopted tax increment financing for the Original Area (the foregoing items three ordinances are collectively referred to herein as the "TIF Ordinances"); and
WHEREAS, the Corporate Authorities subsequently determined it was necessary to expand the Original Area to include additional contiguous areas (such areas/together with the Original Area, the "Expanded Area") and to name the Expanded Area the "Near West Redevelopment Project Area"; and
WHEREAS, in connection with the Expanded Area, under ordinances adopted on June 10, 1996, and published in the Journal for such date at pages 23188 to 23367, and under the provisions of the Act, the Corporate Authorities amended and supplemented the TIF Ordinances by: (i) approving the "Near West Redevelopment Plan and Project" (the "Expanded Area Plan," and, together with the Original Plan, the "Plan") for the Expanded Area; (ii) designating the Expanded Project Area as a "redevelopment project area" pursuant to the Act, which reconfirmed the designation of the Original Area and designated the Expanded Area as a "redevelopment project area"; and (iii) adopting tax increment allocation financing for the Expanded Area (the foregoing three ordinances are collectively referred to herein as the "Expanded Area TIF Ordinances"); and
WHEREAS, Public Act 91,-478 ("P.A. 91-478"), which.became effective November 1,1999, amended the Act, among other things, to (i) change the dates set forth in Section 11 -74.4-3(n)(3) of the Act by which redevelopment projects must be completed and obligations issued to finance redevelopment project costs must be retired to be no later than December 31 of the year in which the payment to a municipal treasurer as provided in Section 11-74.4-8(b) of the Act is to be made with respect to ad valorem taxes levied in the twenty-third (23rd) calendar year after the year in which the ordinance approving a redevelopment project area is adopted, and (ii) provide that a municipality may amend an existing redevelopment plan to conform such redevelopment plan to Section 11-74.4-3(n)(3) of the Act, as amended by the P.A. 91-478, by an ordinance adopted without further hearing or notice and without complying with the procedures provided in the Act pertaining to an amendment to or the initial approval of a redevelopment plan and project and designation of a redevelopment project area; and
WHEREAS, pursuant to an ordinance adopted on June. 6, 2001, and published in the Journal for such date at pages 59235 to 59240, the Corporate Authorities determined that an amendment to the Plan ("Amendment Number 2," so-called as the Expanded Area Plan was itself the first amendment to the Original Plan) (the Plan, as amended by Amendment Number 2, is hereinafter referred to as the "Amended Plan") was necessary, among other things, in order to change, pursuant to P.A. 91-478, the dates of completion of the redevelopment project described in the Plan; and
WHEREAS, a copy of the Amended Plan is attached hereto as Exhibit 2; and
1
WHEREAS, Public Act 92-263, which became effective on August 7,2001, amended the Act to provide that, under Section 11-74.4-5(c) of the Act, amendments to a redevelopment plan which do not (1) add additional parcels of property to the proposed redevelopment project area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project cost set out in the redevelopment plan by more than 5% after adjustment for inflation from the date the plan was adopted, (5) add additional redevelopment project costs to the itemized list of redevelopment project costs set out in the redevelopment plan, or (6) increase the number of inhabited residential units to be displaced from the redevelopment project area, as measured from the time of creation of the redevelopment project area, to a total of more than 10, may be made without further hearing, provided that notice is given as set forth in the Act.as amended; and
WHEREAS, the Corporate Authorities now desire to amend the Amended Plan to increase the total estimated redevelopment project costs, which such amendment shall not (1) add additional parcels of property to the proposed redevelopment project area, (2) substantially affect the general land uses proposed in the redevelopment plan, (3) substantially change the nature of the redevelopment project, (4) increase the total estimated redevelopment project cost set out in the redevelopment plan by more than 5% after adjustment for inflation from the date the plan was adopted, (5) add additional redevelopment project costs to the itemized list of redevelopment project costs set out in the redevelopment plan, or (6) increase the number of inhabited residential units to be displaced from the redevelopment project area, as measured from the time of creation of the redevelopment project area, to a total of more than 10;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. Recitals. The above recitals are incorporated herein and made a part hereof.
SECTION 2. Approval of Amendment Number 3 to the Plan. The "Near West Redevelopment Project Area Tax Increment Financing District Eligibility Study and Redevelopment Plan Amendment Number 3: June 2011" a copy of which is attached hereto as Exhibit 1, is hereby approved. Except as amended hereby, the Amended Plan shall remain in full force and effect.
SECTION 3. Invalidity of Any Section. If any provision of this ordinance shall.be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such provision shall not affect any of the remaining provisions of this ordinance.
SECTION 4. Supersedes All ordinances (including, without limitation, the Expanded Area TIF Ordinances), resolutions, motions or orders in conflict with this ordinance are hereby repealed to the extent of such conflicts. i
SECTION 5. Effective Date. This ordinance shall be in full force and effect immediately upon its passage.
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Exhibit "A"
City Of Chicago Near West Redevelopment Project Area y Tax Increment Finance Program Redevelopment Plan And Project (Incorporates The Former Tax Increment Area Madison-Racine T.I.F. Redevelopment Plan And Project).
Forward.
In January 1989, the City Council of the City of Chicago adopted ordinances to: 1) Approve the Madison-Racine Tax Increment Financing (T.I.F.) Redevelopment Plan and Project, 2) Designate the Madison-Racine Redevelopment Project and Redevelopment Project Area, and 3) Adopt Tax Increment Allocation Financing for the Madison-Racine Redevelopment Project Area. It had been determined by the Commercial District Development Commission and the City Council that the Madison-Racine Redevelopment Project Area on the whole had not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the Madison-Racine TI.F. Redevelopment Plan and Project.
During the process of implementing the Madison-Racine TI.F. Redevelopment Plan and Project (the "Original Redevelopment Plan and Project"), it has become evident to the City that changes in the boundaries of the Madison-Racine Redevelopment Project Area (the "Original Redevelopment Project Area") and the Madison-Racine Redevelopment Project are necessary in order to facilitate achievement of the purpose and objectives of the Madison-Racine T.I.F. Redevelopment Plan and Project as ~ adopted in~January-1989r~Consequently,-the City-of-Ghicago4s~expanding the boundaries of the Original Redevelopment Project Area by incorporating the Greektown and Randolph Street Market communities, and updating the Madison-Racine T.I.F .Redevelopment Plan and Project.
The area to be added to the Original Redevelopment Project Area is referred to as the "Added Area" and is generally bounded by Lake Street on the north, Van Buren Street and the Circle Interchange of the Dan Ryan, Eisenhower and Kennedy Expressways on the south, the Kennedy Expressway on the east, and Green and Peoria Streets on the west. The Original Redevelopment Project Area together with the Added Area is
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renamed and hereinafter referred to as the "Near West Redevelopment Project Area". The Near West Redevelopment Project Area contains approximately one hundred two (102) acres, and is geographically depicted on Map 1 (Boundary Map). The accompanying redevelopment plan is now entitled the Near West Redevelopment Plan and Project, and incorporates portions of the Original Redevelopment Plan and Project. Relevant text; taken from the Original Redevelopment Plan and Project is highlighted in this Near West Redevelopment Plan and Project and is distinguished by italicized type.
Introduction.
In January 1989, the City of Chicago adopted the Madison-Racine T.I.F. Redevelopment Plan and Project to facilitate redevelopment and private investment within the Madison-Racine area. The Original Redevelopment Plan and Project is now being restated to reflect the changes, including the expansion of the boundaries to the Original Redevelopment Project Area. This restated plan is referred to as the Near West Redevelopment Plan and Project (the "Near West Redevelopment Plan and Project"). Relevant elements of the Original Redevelopment Plan and Project are highlighted, as necessary, in this Near West Redevelopment Plan and Project.
Original Redevelopment Project Area Background and Description.
Historically, the Madison-Racine area has been the focus of redevelopment efforts by the City of Chicago since the early 1970s. The Original Redevelopment Project Area was part of the larger Madison-Racine Urban Renewal Area that was previously designated as a slum and blighted area by the Department of Urban Renewal pursuant to Resolution No. 76DUR68 on May 25, 1976. The Chicago City Council approved the designation of slum and blight on June 22, 1976. The redevelopment plan for the Madison-Racine Urban Renewal Area was adopted by the Chicago City Council on October 24, 1979. Later, the Madison-Racine Urban J^newal Area was redesignated as a Blighted Commercial Area by the City's C6rnmerciarDisTfict~De
1980, and by the Chicago City Council on December 12, 1980. Factors contributing to the decline of this originally strong industrial and manufacturing district included the construction of the Dan Ryan Expressway, changing United States retail shopping patterns, and the increased burden of lower income residents relocating into the area due to urban renewal projects on the Loop's west side.
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In 1989, the City developed a plan to address comprehensive growth within the Madison-Racine area through the designation of a tax increment financing district. The designation of the Original Redevelopment Project Area as a tax increment financing district created a mechanism to improve the condition of the Original Redevelopment Project Area in order to attract and encourage significant private investment.
The Original Redevelopment Project Area is generally described as follows:
The northern boundary of the Original Redevelopment Project Area is West Washington Street and West Randolph Street (along the 1000 and 1100 blocks of West Washington Street); the southern boundary is generally West Monroe Street and West Madison Street; the eastern boundary is South Green Street and North Peoria Street; and the western boundary is South Aberdeen Street and North May Street.
Current uses are mixed-industrial, commencial/service, retail!wholesale, residential, single-room occupancy uses, and parking/storage lots. A number of vacant lots are also interspersed with the uses described above.
The Original Redevelopment Project Area is part of the larger Madison- , Racine Urban Renewal Area ... This larger area as designated a number of years ago suffered from the presence of older, obsolete structures. Most of these structures were in very poor condition . . . The area within the Original Redevelopment Project Area as well as near the Original Redevelopment Project Area was targeted for a more intensive acquisition plan by the City (in comparison to the rest of the Madison-Racine Urban Renewal Area).
... The site survey as well as the review of uses within the Original Redevelopment Project Area indicates that problems still exist. Due to the fact that more recent City and private sector activity, has been undertaken, some of the blighted conditions may have been mitigated. However, the need for a coordinated series of public improvements and assistance in combination with private investment of considerable size and scope is required to stem blighting conditions, bringing the area as a whole back to productive reuse. Based upon site surveys as well as other available TnfdYml£tion;~tke Original~Redevelopment~Proj
Conservation Area on an area wide basis. The age of the structures, the presence of obsolescence, depreciation of physical maintenance, inadequate utilities (overall condition of sidewalks, curbs, and streets) deleterious land-use and layout were present to a major extent in the Original Redevelopment Project Area. All blocks within the area indicate the presence of some conservation qualification factors. In addition to the factors described above, deterioration, excessive vacancies, existence of structures below minimum code, and excessive land coverage are also present in some of the blocks. Certain individual blocks possessed conditions that characterized those
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blocks as blighted, as such term is defined and used in the Act; such blighted conditions were not characteristic of the area as a whole.
Added Area Description.
The Added Area contains approximately fifty-five and five-tenths (55.5) acres and includes twenty-five (25) (full and partial) city blocks. It is divided into two (2) sections; the first, south of Madison Street, is referred to as the Halsted Street District (Greektown) and the second, north of Madison Street, is referred to as the Randolph Street District (Market). The existing land uses within the Added Area are shown on Map 2. The Added Area also includes two (2) parcels, 17-17-122-042 and 17-16-238-014, which are part of the Eisenhower Expressway.
The Added Area is located on the west side of the City of Chicago and has excellent transportation access, particularly to surrounding communities. The major access to the Added Area is provided by the Dan Ryan, Eisenhower and Kennedy Expressways, also Halsted, Madison, Washington, Randolph, Monroe, Adams, Lake Streets and Jackson Boulevard. The Added Area is located within an area of the City of Chicago which contains retail, service, residential and industrial uses.
The Added Area is adjacent to and abuts the Original Redevelopment Project Area on Monroe Street, between Peoria and Green Streets and on Green Street, between Madison and Monroe Streets. The Added Area shares characteristics of the Original Redevelopment Project Area. Both areas have a combination of manufacturing, residential, service, retail and commercialland uses.
Added Area History.
The presence and involvement of the Greek community in the Added Area has a long history. Although a few Greeks immigrated to Chicago in the 1840s and 1850s the main surge of immigration from Greece to Chicago did not begin until the 1870s. Following the Great Fire of 1871, Chicago was viewed by Greek immigrants as a City that offered a great opportunity for fmancial^ucce^
Chicago. Working largely in construction and in the wholesale produce markets, these early immigrants sent money back to Greece and saved money to bring relatives to Chicago. Over the next decade, thousands of Greeks settled in Chicago, including entire families. By 1892, the new immigrants formed the first Greek Orthodox parish, the Annunciation Church, in rented quarters in the Randolph Street Market District.
By the turn of the century, a concentration of Greek immigrants had developed on the Near West Side. New immigrants continued to pour into the Near West Side until the passage of the Immigration Quota Act in 1924.
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to anticipate substantial reuse of sites within the Original Redevelopment Project Area without the adoption of a redevelopment plan that addresses the characteristics of the properties and recent market trends, while providing a practical method for financing the redevelopment project. The City has prepared this redevelopment plan to address its. needs and meet its redevelopment goals and objectives relating to the Original Redevelopment Project Area through the use of tax increment financing.
The City recognizes the need for implementation of various strategies to overcome existing area conditions and lack of competitiveness with out-of-City (suburban) locations. The needed public investment will be possible only if tax increment financing is adopted pursuant to the terms of the Tax Increment Allocation Redevelopment Act, Illinois Rev. Stat., Section 1174.4-3 (the. "Act"). Incremental real estate tax revenue generated by the Original Redevelopment Project Area will play a decisive role in encouraging private development.
Existing site conditions that have precluded intensive private investment in the past will be eliminated. Through this Madison-Racine Redevelopment Plan and Project, the City will serve as the central force for marshaling the assets and energies of the private sector for a unified cooperative public-private redevelopment effort. Ultimately, the implementation of the Madison-Racine Redevelopment Plan and Project will benefit the City and all the taxing districts which are included in the Original Redevelopment Project Area in the form of a significant expansion of the real estate tax base...
The Original Redevelopment Project Area has not been subject to comprehensive redevelopment through investment by private enterprise and it is not reasonably anticipated to be developed in a comprehensive manner without the adoption of a redevelopment plan and project. The City has prepared this Madison-Racine Redevelopment Plan and Project to use tax increment financing in order to address its needs and meet its redevelopment goals and objectives.
In November 1988, the City of Chicago's Commercial District Commission adopted a resolution authorizing a feasibility study to use Tax Increment Financing ("T.I.F.") for the redevelopment of the area legally described herein in (Sub)Exhibit 1 and outlined on the map in (Sub)Exhibit 2 (See Appendix). Redevelopment of the Original-Redevelopment Project AreaiUs.tenable.only if_ a portion of the public improvements are funded by TJ.F
The adoption of this Madison-Racine Redevelopment Plan and Project makes possible the implementation of a comprehensive program for the economic redevelopment of the proposed Original Redevelopment Project Area. By means of public investment, the Original Redevelopment Project Area will become an improved, more viable environment that will attract private investment. The public investment will set the stage for the redevelopment of the area with private capital.
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Pursuant to the requirements of the Act, the Original Redevelopment Project Area includes only those contiguous parcels of real property and improvements thereon which are substantially benefitted by the Madison-Racine Redevelopment Plan and Project. Also in accordance with the Act, the Original Redevelopment Project Area is not less than one and one-half acres in the aggregate.
The addition of the Added Area will permit improved coordination of redevelopment and revitalization projects and related public improvements for all projects within the Near West Redevelopment Project Area. The Added Area is physically and functionally related to other properties within the Original Redevelopment Project Area and will substantially benefit from the redevelopment project actions and improvements.
There has been little major investment in the Added Area for at least the last five (5) years. The adoption of the Near West Redevelopment Plan and Project will make possible the implementation of a logical program to stimulate redevelopment in the Added Area which cannot reasonably be anticipated to be developed without the adoption of the Near West Redevelopment Plan and Project. Public investments will create the appropriate environment to attract the investment required for the rebuilding of the area. But for the investment of funds by the City, some, future redevelopments would not be financially feasible and would not go forward. '
The purpose of the Near West Redevelopment Plan and Project is to create a mechanism to allow for the redevelopment of the Near West Redevelopment Project Area with new mixed-use, commercial/retail, residential and light industrial facilities. The redevelopment is expected to encourage economic revitalization within the community and surrounding area.
Tax Increment Allocation Redevelopment Act.
The Original Redevelopment Plan and Project established the existence of eligible conditions within the Original Redevelopment Project Area at the time of its creation as a tax increment financing district. An analysis of -conditions within-the-Added. Area indicates_that_ it is appropriate for designation as a Redevelopment Project Area undertheState"of niindistax increment financing legislation. The Added Area is characterized by conditions which warrant its designation as an improved "Conservation Area" within the definition set forth in the Act. The Act is found in 65 ELCS 5/11-74.4-1, et seq., as amended.
The Act provides a means for municipalities, after the approval of a "Redevelopment Plan and Project" to redevelop blighted and conservation areas by pledging the increase in tax revenues generated by public and private redevelopment. This increase in tax revenues is used to pay for up-
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front costs which are required to stimulate the private investment in new redevelopment and rehabilitation. Municipalities may issue obligations to be repaid from th£ stream of real property tax increments that occur within the tax increment financing district;
The property tax increment revenue is calculated by determining the difference between the initial equalized assessed value (E.A.V.) or the Certified E.A.V. Base for all real estate located within the district and the current year E.A.V The EA.V. is the assessed value of the property multiplied by the state multiplier. Any increase in E.A.V. is then multiplied by the current tax rate, which determines the incremental real property tax.
The Near West Redevelopment Plan and Project has been formulated in accordance with the provisions of the Act. It is a guide to all proposed public and private action in the Near West Redevelopment Project Area. In addition to describing the objectives of redevelopment, the Near West Redevelopment Plan and Project sets forth the overall program to be undertaken to accomplish these objectives. This program is the Near West Redevelopment Plan and Project.
This Near West Redevelopment Plan and Project also specifically describes the Near West Redevelopment Project Area. The Original Redevelopment Project Area at the time of its designation met the eligibility requirements of the Act (see Attachment 2 for "Madison-Racine Redevelopment Plan and Project - Eligibility Report", and "Near West Tax Increment Financing Program - Eligilibity Study"). The Near West Redevelopment Project Area boundaries are shown in Map 1 (Boundary Map).
After its approval of the Near West Redevelopment Plan and Project, the City Council will then formally designate the Near West Redevelopment Project Area.
The purpose of this Near West Redevelopment Plan and Project is to ensure that new development occurs:
1. on a coordinated rather than a piecemeal basis to ensure that _____ the land-use, vehicular access, parking, service and urban
-deslgn"system:s will meet modern-day-principles and standards;-
2. on a reasonable, comprehensive and integrated basis to ensure that blighting factors are eliminated; and
3. within a reasonable and defined time period.
Revitalization of the Near West Redevelopment Project Area is a large and complex undertaking and presents challenges and opportunities commensurate to its scale. The success of this effort will depend to a large
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extent on the cooperation between the private sector and agencies of local government.
Successful implementation of the Near West Redevelopment Plan and Project requires that the City of Chicago take full advantage of the real estate tax increments attributed to the Near West Redevelopment Project Area as provided in accordance with the Act.
Redevelopment Project Area And Legal Description.
. The Near West Redevelopment Project Area is located on the near west side of the City of Chicago, Illinois directly west of the City's Central Business District. The Near West Redevelopment Project Area contains approximately one hundred two (102) acres. The boundaries of the Near West Redevelopment Project Area are shown on Map 1 (Boundary Map); the current land uses are shown on Map 2 (Existing Land Uses). The Near West Redevelopment Project Area includes only those contiguous parcels of real property that are expected to be substantially benefited by the Near West Redevelopment Plan and Project.
The legal description of the Near West Redevelopment Project Area includes the legal description of the Original Redevelopment Project Area combined with the legal description of the Added Area, and is as follows:
Legal Description Of The Original Redevelopment Project Area.
beginning at the southeast corner of West Madison Street and South Green Street; thence southerly to the southeast corner of South Green Street and West Monroe Street; thence westerly to the southwest corner of South Sangamon Street and West Monroe Street; thence northerly to the southwest corner of West Madison Street and South Sangamon Street; thence westerly to the southeastern corner of West Madison Street and South Morgan Street; thence southerly to the southeast "corner of South Morgan Street andJWest.Monro^ westerly to the southwest corner of South Aberdeen Street and West Monroe-Street; thence northerly to the southwest corner of West Madison Street and South Aberdeen Street; thence westerly to a point in the west line, produced south of North May Street; thence northerly to the northwest corner of West Randolph Street and North May Street; thence easterly to the northeast corner of West Randolph Street and North Carpenter Street; thence southerly to the northeast corner of North Carpenter Street and West Washington Boulevard; thence easterly to the northeast corner of North Peoria Street and West Washington Boulevard; thence southerly to the northeast corner of West Madison
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Street and North Peoria Street; thence easterly to the northeast corner of West Madison Street and North Green Street; thence southerly to the point of beginning.
This area includes:
Block 17-08-448 of which a part is a part of S. F. Gale's Subdivision of Block 52 of Carpenter's Addition to Chicago (recorded February 29, 1872, Document Number 15649) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836)); and of which a part is also a part of William Hale Thompson's Subdivision of Lots 17 to 26, inclusive, in S. F. Gale's Subdivision of Block 52 of Carpenter's Addition to Chicago (recorded July 21, 1890, Document Number 1306568) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836)).
Also
Block 17-08-447 of which a part is a part of Block 51 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836 (Ante-Fire)); and of which a part is also a part of Assessor's Second Division of the east half of Lot 3 all of Lots 1,2,7,8,11,12, 15, 16, 17 and 18 of Block 51 of Carpenter's Addition to Chicago (recorded November 29,1872, Document Number 71687, re-recorded October 1,1875, Document Number 51466); and of which a part is also a part of H. C. Van Schaak's Subdivision of Lot 7 (except the north 20 feet) and Lot 8 (except the south 20 feet) in Block 51 of Carpenter's Addition to Chicago (recorded October 27,1885 as Document Number 664546).
Also
Block 17-08-446 of which a part is a part of Block 50 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recoHed"Au^u*st: 31,"1*836 (AjiterFire)); and-of^which-a- part- is-a-part of-Assessor's Division of Lots 1 to 9 in Block 50 of Carpenter's Addition to Chicago (recorded July 30,1859 (Ante-Fire)).
Also
Block 17-08-437 of which is part of Block 42 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836 (Ante-Fire)).
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Also. ;:
Block 17-08-436 which is part of William J. Bunker's Sub&yislo* of B^ of Carpenter's Addition to Chicago (recorded July 1, 1848 (Ante-Fire)) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14, recorded August 31,1836 (Ante-Fire)).
Also
Block 17-08-044 of which is a part of resubdivision of Block 48 of Carpenter's Addition to Chicago (recorded February 17, 1857 (Ante-Fire)) (which said Carpenter's Addition is a subdivision of the southeast quarter of. Section 8-39-14 (recorded August 31, 1836); and which part is a part of C.W. Cook's Subdivision of Lots 1 to 5 of Block 48 of Carpenter's Addition to'Chicago (Ante-Fire) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836)):
Also
Block 17-08-445 of which part is a part of Block 49 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14v(recorded August 31,1836 (Ante-Fire)); and of which part is a part of the subdivision of the west 100 feet of Lot 6 of Block 49 of Carpenter's Addition to Chicago (recorded September 13,1875 as Document Number 48790).
Also
Block 17-17-208 of which is Block 2 of Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of Section 17-39-14 (Ante-Fire).
Also
Block 17-17-207 which is a part of Block 3 of Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of Section 17-39-14 (Ante-Fire); and of which a part is subdivision of Lots 15 and 16, Block 3 of Duncan's Addition to Chicago (Ante-Fire).
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Also
Block 17-17-203 which is a part of the subdivision of Block 1 of Canal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)O (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section 17-39-14 (recorded August 31, 1848 (Ante-Fire)); and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14 (recorded April 29, 1836 (Ante-Fire)).
Also
Block 17-17-204 of which a part is a part of the subdivision ,of Block 1 of Canal Trustee's Subdivision, and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section 17-39-14, and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14); and of which a part is also a part of subdivision of the interior part of Block 1 of Canal Trustee's Subdivision (recorded April 8, 1857 (Ante-Fire)) and of which a part is also a part of Holden's Plat of parts of Block 5 of Duncan's Addition and part of Block 1 of Canal Trustee's Subdivision (Ante-Fire). ,
Also
Block 17-17-205 of which a part is a part of the subdivision of Block 1 of Canal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section 17-39-14 (recorded August 31,1848 jAnte-Fire)), and which said Duncan's Addition is a subdivision of the east half of ttoe rib^
1836 (Ante-Fire)), and of which a part is a part of C.C.P. Holden's Resubdivision of Lots 33, 34, and 35 of Block 1 of Canal Trustee's Subdivision (Ante-Fire).
Added Area Legal Description.
That part of the southeast quarter of Section 8 and part of the southwest quarter of Section 9 and part of the northwest quarter of Section 16 and part
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of the northeast quarter of Section 17, Township 39 North, Range 14 East of the Third Principal Meridian, described as follows: beginning at the intersection of the north right-of-way line of West Lake Street, with the west right-of-way line of North Peoria Street; thence south, along said west right-of-way line of North Peoria Street, to the north right-of-way line of West Washington Street; thence east, along said north right-of-way line of West Washington Street, to the east right-of-way line of North Peoria Street; thence south, along said east right-of-way line of North Peoria Street, to the south right-of-way line of West Washington Street; thence east, along said south right-of-way line of West Washington Street, to the west right-of-way line of North Green Street; thence south, along said west right-of-way line of North Green Street, to the north right-of-way line of West Madison Street; thence east, along said north right-of-way line of West Madison Street, to the east right-of-way line of North Green Street; thence south, along said east right-of-way of North Green Street and the east right-of-way line of South Green Street, to the south right-of-way line of West Monroe Street; thence west, along said south right-of-way line of West Monroe Street, to the east right-of-way line of South Peoria Street; thence south, along said east right-of-way line of South Peoria Street, to the north right-of-way line of West Adams Street; thence east, along said north right-of-way line of West Adams Street, to the southeast corner of Lot 9 in Block 9 in Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of said Section 17, also being a point in the centerline of said Block 9; thence south, along the centerline of Block 12 in said Duncan's Addition to Chicago and its northerly and southerly extensions to the south right-of-way line of West Jackson Boulevard; thence east, along said south right-of-way-line of West Jackson Boulevard, to the west right-of-way line of South Green Street; thence south, along said west right-of-way line of South Green Street, to the northerly right-of-way line of the Dwight D. Eisenhower Expressway; thence easterly, along said northerly right-of-way line of the Dwight D. Eisenhower Expressway to a point on the south line of Lot 2 in Block 21 in said Duncan's Addition to Chicago, said point being 17 feet east of the southwest corner of said Lot 2; thence east, along the south line of said Lot 2 to the southeast corner thereof, said point being on the west right-of-way line of South Halsted Street; thence east to the southwest corner of Lot 17 in J. A. Yale's Subdivision of Block 5 of School Section Addition to Chicago of said Section 16, said point being on the east right-of-way line of South Halsted Street; thence east, along the south line of Lots 17 through 13 inclusiverin said-JrA-. Yale'sSubdi vision- -to a-point on the-east line of the-west 5 foot line of Lot 13 in said J. A. Yale's Subdivision, thence north, along said east line of the west 5 feet of Lot 13, to the south right-of-way line of West Van Buren Street, thence northerly, to a point on the northerly right-of-way line of West Van Buren Street, said point being on the west right-of-way line of the John F. Kennedy Expressway; thence northerly, along said west right-of-way line of the John F. Kennedy Expressway, to the north right-of-way line of West Jackson Boulevard; thence east, along said north right-of-way line of West Jackson Boulevard, to the east line of the west 29. feet of Lot 6 in Blanchard's Subdivision of Block 3 of School Section Addition to Chicago of said Section 16; thence north, along said east line of the west 29
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feet of said Lot 6 and its northerly extension, to the north right-of-way line of West Quincy Street at a point on the south line of Lot 3 in said Blanchard's Subdivision; thence east along said north right-of-way line of West Quincy Street, to a point on the south line of Lot 3, 42 feet east of the southwest corner thereof; thence northeasterly to a point on the north line of said Lot 3 in said Blanchard's Subdivision, 58 feet east of the northwest corner thereof, said point also being on the south right-of-way line of West Adams Street; thence northwest to a point on the north right-of-way line of said West Adams Street, said point being on the south line of Lot 6 in Block 2 of School Section Addition to Chicago of said Section 16, 20 feet east of the southwest corner thereof; thence northeasterly to a point on the north right-of-way line of West Marble Place, said point being on the south line of Lot 3 in Block 2 of School Section Addition to Chicago of said Section 16, 45 feet east of the southwest corner thereof; thence west, along title south line of said Lot 3 in Block 2 to the east line of the west 15. feet of said Lot 3 in Block 2; thence north, along the east line of the west 15 feet of said Lot 3 in Block 2, to the north line of said Lot 3 in Block 2 and also being on the south right-of-way line of West Monroe Street; thence west, along said south right-of-way line of West Monroe Street, to the west right-of-way line of the John F. Kennedy Expressway; thence northerly,, along said west right-of-way line of the John F. Kennedy Expressway, to the north right-of-way line of West Lake Street; thence west, along said north right-of-way line of West Lake Street, to the point of beginning, in Cook County, Illinois,
Overall Goals And Objectives.
The overall goals and objectives presented in this Near West Redevelopment Plan and Project are consistent with, and do not contradict, the goals and objectives presented in the Original Redevelopment Plan and Project. The Near West Redevelopment Plan and Project also conforms to the Madison-Racine Urban Renewal Designation and Redevelopment Project Report for the development of the Madison-Racine area as a whole.
General Goals:
Improve the quality of life in Chicago by improving the economic vitality of the "Conservation Area" in the Near West Redevelopment Project Area.
Provide sound economic development in the Near West Redevelopment Project Area.
Revitalize the Added Area to enhance its importance as a commercial center contributing to the improved vitality of the City.
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Create an environment within the Near West Redevelopment Project Area which will contribute to the health, safety and general welfare of the City, and preserve or enhance the value of properties in the area.
Strengthen the existing business community and create a suitable location for commerce.
Create new job opportunities for community and City residents in accordance with the City's Affirmative Action goals.
Encourage the development of mixed uses.
Create new commercial/retail centers and the accompanying job opportunities.
Create an identity for Greektown in the Halsted Street District which will create a center for tourism.
Achieve desirable changes of land use, through a coordinated public/private effort.
Provide open, attractive and safe public areas to enhance access to and confidence in the general area.
Redevelopment Objectives:
-- Reduce or eliminate those conditions which qualify the Near West Redevelopment Project Area as a Conservation Area.
Enhance the tax base of the City of Chicago and of the other taxing districts which extend into the Near West Redevelopment Project Area by encouraging private investment in new development within the Added Area.
_ Strengthen the economic well-being of the Near West Redevelopment Project Area-and the City by-increasing-business-activity, taxable values and job opportunities.
Provide needed incentives to encourage a broad range of improvements for both new development and rehabilitation efforts for existing buildings.
Enhance the commercial/tourism activity in the Added Area by providing additional public and private infrastructure improvements which create a clear identity for this important tourist area.
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Encourage the participation of minorities and women in the development of the Near West Redevelopment Project Area.
Development And Design Objectives:
Establish a pattern of land-use activities arranged in compact, compatible groupings to increase efficiency of operation and economic relationships.
Encourage coordinated development of parcels and structures in order to achieve attractive and efficient building design; unified off-street parking, adequate truck, service and loading facilities; and appropriate access to nearby arterial streets.
Achieve development which is integrated both functionally and anesthetically with nearby existing development.
Ensure a safe and adequate circulation pattern, adequate ingress and egress and capacity in the Near West Redevelopment Project Area.
Encourage a high-quality appearance of buildings, rights-of-way and open spaces, and encourage high standards of design.
Encourage development of usable commercial/retail space of all sizes within the Added Area.
Retain the unique character of the Added Area.
Conservation Area Conditions Existing In The Near West Redevelopment Project Area.
The eligibility findings of the Near West Redevelopment Project Area, including the Original Redevelopment Project Area and the Added Area, are presented in* this section. ~-----1--------------------------------------
Original Redevelopment Project Area Findings.
The eligibility findings for the Original Redevelopment Project Area are detailed in Attachment 1, and are summarized below.
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The Original Redevelopment Project Area was evaluated^fpr;N&e'Gity';by:'" Kane, McKenna and Associates, Inc. in November and December, 1988. Based upon surveys, inspections, research and analysis of the Original Redevelopment Project Area by the City of Chicago and Kane, McKenna and Associates, Inc., the Original Redevelopment Project Area qualified as a "Conservation Area" as defined by the Act. A separate report entitled "Eligibility Study of a Proposed Redevelopment Project Area for Tax Increment Financing in the Madison-Racine Study Area", Chicago, Illinois, dated January 1989 (see Attachment 2) describes the surveys and analysis undertaken and the basis for the finding that the Origina.Y Redevelopment Project Area qualifies as a "Conservation Area" as defined by the Act. Summarized below are the findings of the "Eligibility Study of a Proposed Redevelopment Project Area for Tax Increment Financing in the Madison-Racine Study Area". The Madison-Racine Redevelopment Project Area was characterized by the presence of four (4) of the blighting factors as listed in the Act, impairing the sound growth of the taxing districts in this area of the City. Specifically:
Of the fourteen (14) factors set forth in the law, in addition to age four (4) were present in the Original Redevelopment Project Area.
The blighting factors which are present are reasonably distributed throughout the Original Redevelopment Project Area. >> *
All areas within the Original Redevelopment Project-^Area show the presence of blighting factors.
The following conservation factors were present within the Original Redevelopment Project Area as described in the "Madison-Racine Redevelopment Project Plan and Project Eligibility Report" dated November 28,1988:
1- Age. ^
Of the approximately seventy-two (72) buildings within the area, about sixty-three (63) or eighty-eight percent (88%) were "" thirty-five"(35) years of age or olderr Age as a factor was present-to a major extent in all the twelve (12) blocks that comprise the Original Redevelopment Project Area.
2. Obsolescence.
Of the approximately seventy-two (72) structures, it was estimated that about forty-nine (49) or sixty-eight percent (68%) of the structures were functionally and economically obsolete: In nine (9) of the twelve (12) blocks obsolescence was present in
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fifty percent (50%) or more of the structures; in two (2) blocks twenty-five percent (25%) to fifty percent (50%) of the structures. were characterized as obsolete.
3. Depreciation Of Physical Maintenance.
It was estimated that fifty-six (56) out of seventy-two (72) structures, or seventy-eight percent (78%) exhibited some evidence (in varying degrees) of depreciation of physical maintenance; twenty-two (22) out of twenty-six (26) vacant parking lots, or about eighty-five percent (85%) exhibited depreciation of physical maintenance. Depreciation was present to a major degree in eleven (11) out of twelve (12) blocks, and to an average degree in the remaining block.
4. Inadequate Utilities.
Inadequate utilities were present throughout the Original Redevelopment Project Area. Inadequate utilities were present to a major extent in nine (9) out of the twelve (12) blocks. The roads throughout the Original Redevelopment Project Area were in poor condition. Vaulted sidewalls were in poor condition and in many cases served as a hazard to pedestrian traffic.
5. Deleterious Land-Use Or Layout.
The area as a whole lacked adequate off-street parking. Many structures had low land to building ratios^ which makes it difficult to reconfigure or expand current operations.
Other qualifying factors existed to a minor extent. Some structures were below minimum code requirements; some structures had excessive land coverage. Excessive vacancies were present in some structures; some vacant, unpaved lots had no present use except to remain underutilized without addressing~arear wide~redevelopment. ^Sdme-Structures^exMMted deterioration. The area was platted primarily in the nineteenth century; as a consequence, the City was not able to guide the platting and building of structures through a comprehensive plan. Many of the structures and property were better suited for less intensive uses (e.g. garages, parking) or for market uses that were no longer viable (e.g., multi-story industrial).
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Added Area Findings.
Based upon surveys, site inspections, research and analysis by Louik/Schneider & Associates, Inc., the Added Area qualifies as a Conservation Area as defined by the Act. A separate report entitled "City of Chicago Near West Tax Increment Financing Program Eligibility Study", dated March 1, 1996, describes in detail the surveys and analyses undertaken and the basis for the finding that the Added Area qualifies as a Conservation Area as defined by the Act. The majority ninety-one percent (91%) of the Added Area is characterized by the presence of structures more than thirty-five (35) years of age and the presence of nine (9) factors listed in the Act for a Conservation Area. Summarized below are the findings of the "City of Chicago Near West Tax Increment Financing Program Eligibility Study".
Summary Of Factors.
In addition to the age requirement, nine (9) criteria are present in varying degrees throughout the Added Area. The nine (9) factors have been identified as follows:
Minor Extent
Presence of structures below minimum code standards Lack of ventilation, light or sanitary facilities
Major Extent
Dilapidation Obsolescence
- . Deterioration
Excessive vacancies "----------.........
Excessive land coverage Depreciation of physical maintenance
-- Lack of community planning
The conclusions of each of the nine (9) factors are summarized below.
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Dilapidation.
Dilapidation, an advanced state of disrepair of buildings and improvements, is present throughout the Added Area. This factor is present in thirteen (13) of the twenty-five (25) blocks and in the twenty-eight (28) of the one hundred fourteen (114) buildings.
Obsolescence.
Obsolescence, both functional and economic, is present in fourteen (14) of the twentyrfive (25) blocks and in fifty (50) of the one hundred fourteen (114) buildings. Within the Added Area, many parcels are of inappropriate size or shape, public improvements such as alleys and street widths are inadequate, and forty-three percent (43%) of the structures are incapable of efficient or economic use according to contemporary standards.
Deterioration.
Deterioration is present in structures with physical deficiencies or site improvements requiring major treatment or repair. This factor is present to a major extent and is found in eighteen (18) of the twenty-five (25) blocks and in one hundred two (102) of the two hundred ten (210) parcels.
Presence Of Structures Below Minimum Code Standards.
One structure in the Added Area was found to exhibit the presence of structures below minimum code standards.
Excessive Vacancies.
Excessive vacancy was found to be present in varying degrees throughout the-Added-AreaExcessive vacancies,-including completely and partially vacant structures, are present in fourteen (14) of the twenty-five (25) blocks and in forty-two (42) of the one hundred fourteen (114) buildings.
Lack Of Ventilation, Light Or Sanitary Facilities.
Structures in the Added Area exhibiting inadequate ventilation or light are those with no windows or having boarded-up
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windows. This factor is present in four (4) of the twenty-five (25) blocks and in six (6) of the one hundred fourteen (114) buildings.
7. Excessive Land Coverage.
Excessive land coverage, manifested by the over-intensive use of property and the crowding of buildings and accessory facilities onto a site, is present throughout the Added Area. This factor is exhibited in sixteen (16) of the twenty-five (25) blocks arid in ninety (90) of the one hundred fourteen (114) buildings. .
8. Depreciation Of Physical Maintenance.
Depreciation of physical maintenance, manifested by substantial deferred maintenance and lack of maintenance of buildings, parking areas and streets is present to a major extent in twenty-two (22) of the twenty-five (25) blocks and one hundred fifty-seven (157) of the two hundred ten (210) parcels in the Added Area.
9. Lack Of Community Planning.
Lack of community planning is present throughout the entire Added Area (except for Block 122, the Eisenhower Expressway) which was developed prior to and without the guidance of a community plan.
Conclusion.
The conclusion of the consultant team engaged to conduct the study is that the number, degree and distribution of factors as documented in this report warrant the designation of the Added Area as a Conservation Area within the definition set forth in the Act. Specifically:
...__. The"bmlding a^
that requires fifty percent (50%) or more of the structures to be thirty-five (35) years of age or older.
Of the fourteen (14) factors for a Conservation Area set forth in the law, nine (9) are present in the Added Area and only three (3) are necessary for designation as a Conservation Area.
The conservation area factors which are present are reasonably distributed throughout the Added Area.
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All areas within the Added Area show the presence, of conservation area factors.
All blocks in the Added Area evidence the presence of some eligibility factors. The eligibility findings indicate that, without revitalization, the Added Area could become blighted and that designation as a redevelopment area will contribute to the long-term well being of the City. All factors indicate that the area on the whole has not been subject to growth and development through investments by private enterprise, and will not be developed without action by the City.
The analysis above was based upon data assembled by Louik/ Schneider & Associates, Inc The surveys, research and analysis conducted include:
1. exterior surveys of the condition and use of the Added Area;
2. field surveys of environmental conditions covering streets, sidewalks, curbs and gutters, lighting, traffic, parking facilities, landscaping, fences and walls, and general property maintenance;
3. comparison of current land use to current zoning ordinance and current zoning maps;
4. historical analysis of site uses and users;
5. analysis of original and current platting and building size layout; and
6. review of previously prepared plans, studies and data.
Based upon the findings of the "City of Chicago Near West Tax Increment Financing Program Eligibility Study", the Added Area on the whole has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of this Near West Redevelopment Plan and Project. But for the investment of "City'funds,~sbme~future- redevelopments-would-not-be ~ financially feasible and would not go forward.
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Near West Redevelopment Plan And Project.
A. Redevelopment Project Plan And Project Activities.
The City proposes to realize its goals and objectives of redevelopment through public finance techniques, including but not limited to tax increment financing, and by undertaking some or all of the following actions:
1. Assemblage of Sites. To achieve the renewal of. the Near West Redevelopment Project Area, properly identified in Map 4 -Properties To Be Acquired, attached hereto and made a part hereof, may be acquired by the City of Chicago and cleared of all improvements, if any, and either (a) sold, leased or conveyed for private redevelopment, or (b) sold, leased or dedicated for construction of public improvements or facilities. The City may pay for a private developer's cost of acquisition of land and other property, real or personal, or rights, or interests therein, demolition of buildings, and the clearing and grading of land. The City may determine that to meet the renewal objectives of this Near West Redevelopment Plan and Project, other properties in the Near West Redevelopment Project Area not scheduled for acquisition should be acquired or certain property currently listed for acquisition should not be.acquired. Acquisition of land for public rights-of-way will also be necessary for the portions of said rights-of-way that ,the City does not own.
As a necessary part of the redevelopment process, the City may hold and secure property which it has acquired and place it in temporary use until such property is scheduled for disposition and redevelopment. Such uses may include, but are not limited to, project office facilities, parking or other uses the City may deem appropriate.
2. Provision of Public Improvements and Facilities. Adequate public improvements and facilities may be provided to service
------the entire-Near-West Redevelopment Project-Area. -Public .r
improvements and facilities may include, but are not limited to:
a. provision for streets and public rights-of-way;
b. provision of utilities necessary to serve the redevelopment;
c. public landscaping; and
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d. public landscape/buffer improvements, street lighting and general beautification improvements in connection with public improvements.
3. Provision for Soil and Site Improvements. Funds may be made available for improvements to properties for the purpose of making land suitable for development. These improvements may include, but are not limited to:
a. environmental ; remediation necessary for redevelopment of the Near West Redevelopment Project Area;
b. site preparation utilities; and
i ■
c. demolition.
4. Job Training and Related Educational Programs. Funds may be made available for programs to be created for future employees so that they may take advantage of the employment opportunities.
5. Analysis, Administration, Studies, Legal, et al Funds may be provided for activities including the long-term management of the Near West Redevelopment Plan and Project as well as the costs of establishing the program and designing its components. Costs of studies, surveys, development of plans, and specifications, implementation and administration of the redevelopment plan, including but not limited to staff and professional service costs for architectural, engineering, legal, marketing, financial, planning or other services, provided, however, that no charges for professional services may be based on a percentage of the tax increment collected.
6. Interest Subsidies. Funds may be provided to developers or __:_________users for a portion of interest costs incurred in the construction
of a redevelopment project;Interest-costs-incurred, by a_ redeveloper related to the construction, renovation or rehabilitation of a redevelopment project, provided that:
a. such costs are to be paid directly from the special tax allocation fund established pursuant to the Act;
b; such payments in any one (1) year may not exceed thirty percent (30%) of the annual interest costs incurred by the redeveloper with regard to the redevelopment project during that year;
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c. if there are not sufficient funds available in the special tax allocation fund to make the payment pursuant to this paragraph (6) then the amount so due shall accrue and be payable when sufficient funds are available in the special tax allocation fund; and
d. the total of such interest payments paid pursuant to the Act may not exceed thirty percent (30%) of the total of (i) costs paid or incurred by the redeveloper for the redevelopment project plus (ii) redevelopment project costs, excluding any property assembly costs and any relocation costs incurred by a municipality pursuant to the Act.
Rehabilitation Costs. The costs for rehabilitation, reconstruction or repair or remodeling of existing public or private buildings or fixtures including, but not limited to, provision of facade improvements for the purpose of improving the facades of privately held properties.
Provision for Relocation Costs. Funds may be made available for the relocation expenses of public facilities and for private property owners and tenants of properties relocated or acquired by the City for redevelopment purposes.
Financing Costs. Financing costs, including but not limited to all necessary and incidental expenses related to the issuance of obligations and which may include payment of interest on any obligations issued hereunder accruing during the estimated period of construction of any redevelopment project for which such obligations are issued and for not exceeding thirty-six (36) months thereafter and including reasonable reserves related thereto.
Capital Costs. All or a portion of a taxing district's capital costs resulting from the redevelopment project necessarily incurred or to be_ incurred in furtherance of the objectives of the redevelopment pian~and project; to -the extent -the municipality! by written agreement accepts and approves such costs.
Payment in Lieu of Taxes.
Costs of Job Training. Costs of job training, advanced vocational education or career education, including but not limited to courses in occupational, semi-technical or technical fields leading directly to employment, incurred by one (1) or more taxing districts, provided that such costs (i) are related to the
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establishment and maintenance ,of additional job training, advanced vocational education or career education programs for persons employed or to be employed by employers located in a redevelopment project area; and (ii) when incurred by a taxing district or taxing districts other than the municipality, are set forth in a written agreement by or among the municipality and the taxing district or taxing districts, which agreement describes the program to be undertaken, including but not limited to the number of employees to be trained, a description of the training and services to be, provided, the number and type of positions available or to be available, itemized costs of the program and sources of funds to pay for the same, and the term of the agreement. Such costs include, specifically, the payment . by community college districts of costs pursuant to Sections 3-37, 3-38, 3-40 and 3-40.1 of Public Community College Act and by school districts of costs pursuant to Sections 10-22.20a and 10-23.3a of the School Code.
13. Redevelopment Agreements. The City may enter into Redevelopment Agreements with private developers which may include, but not be limited to, terms of sale, lease or conveyance of land, requirements for site improvements, public improvements, job training and interest subsidies. In the event that the City determines that construction of certain improvements is not financially feasible, the City may reduce the scope of the proposed improvements.
B. Redevelopment Plan.
For planning purposes, the Near West Redevelopment Project Area is dividea into two (2) subareas: the Original Redevelopment Project Area and the Added Area which incorporates the Halsted Street and Randolph Street districts.
The Near West Redevelopment Plan and Project for both of these subareas is consistent with the following objectives of the Madison-Racine Urban Renewal Area:
(a) Retain and strengthen the existing nature of the business community within the boundaries of the Madison-Racine Urban Renewal Project.
(b) Removal of obsolete and substandard structures which are a blighting influence on the community.
(c) Provide for the retention of basically sound buildings that are compatible with the Madison-Racine Urban Renewal Plan and encourage the upgrading of those facilities where necessary.
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(d) Provide marketable parcels of land, sufficient in size and configuration for economically feasible development of commercial and/or light industrial facilities and related uses.
(e) Provide land for adequate off-street parking, loading facilities, and open space designed to enhance the community . ,
(f) Provide for the vacation of unnecessary streets and alleys and the development of a street system which will improve traffic flow and safely and adequately serve the area.
Additionally, this Near West Redevelopment Plan and Project is consistent with the stated proposed renewal action plans for the Madison-Racine Urban Renewal Area which includes proposed public actions in the area comprised of a combination of any or all of the following activities: acquisition of property, relocation of site occupants, demolition of structures, site preparation, vacation of streets and alleys, assemblage of land into marketable disposition parcels, disposition of land for public and private development, rehabilitation of structures to meet City of Chicago codes and ordinances, and other related redevelopment activities,
Subarea 1: Original Redevelopment Project Area.
The Original Redevelopment Project Area comprises the boundaries of the Madison-Racine Tax Increment Financing District. The following elements of the Madison-Racine Redevelopment Project and Plan are highlighted in this Near West Redevelopment Plan and Project, and comprise the redevelopment plan for the Original Redevelopment Project Area.
The [Original] Redevelopment Projects are to create a sense of "place", to attract developers and similar businesses, as well as to improve the circulation, access and security through common improvements. Projects must be of sufficient size so that the [Original] Redevelopment Project will not be overwhelmed by the poverty and decay that is adjacent to the site, but rather will create an area where security and economic vitality are enhanced. JlTPJ*?*8 rceeo? to discontinue the sporadic development of the area, and encourage "more plawed~area 'dev^ ~to~reduce -the~depressed
conditions currently existing throughout the district. These depressed conditions have, in many cases, contributed to the failure of fully realizing the potential real estate taxes in the area as well as contributing to an absolute decline in overall property assessments. It is firmly believed that underutilization of the land within the Madison-Racine Commercial District arid the [Original] Redevelopment Project Area has resulted in a significant reduction in potential property taxes for the City, overall.
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It is intended that underutilized properties will be developed and put to current market uses. The anticipated tenants shall be compatible With existing industrial and commercial facilities. The Van Buren and Jackson Corridor has recently experienced rehabilitation of numerous buildings for commercial/office uses (particularly loft redevelopment uses).
The [Original] Redevelopment Project's implementation will continue to improve the physical appearance of the Original Redevelopment Project Area and contribute to the economic development of the area, arresting decline and stabilizing the Near West Side commercial area. The redevelopment of the Original Redevelopment Project Area will serve as a catalyst and as an essential anchor for the overall area. Job creation associated with the project will provide new, improved employment opportunities for community and City residents.
. . . The Original Redevelopment Project Area has the advantage of providing quick access to the City's Central Loop (the Original Redevelopment Project Area is located approximately one (1) mile from the center of the City's Loop) and related means of transportation are advantageous in competing with suburban developments. On-site parking and less congested streets, as well as the "old town" amenities near the Original Redevelopment Project Area are additional characteristics that could be utilized to entice business to the in-city location. However, coordinated redevelopment is necessary to address an efficient and an economic approach, evidencing planning with respect to uses, access/egress, and competitive amenities. The City's nearby central core area is experiencing tremendous commercial growth, particularly in the financial markets, at rental rates competitive with projects located outside of Cook County . While the commercial growth provides significant office facilities for certain types of industries, there is a lack of appropriate space for businesses that serve the financial, banking, real estate and investment industries. The Original Redevelopment Project Area's redevelopment will also address such support uses as well as other uses including light industrial.
Subarea 2: Added Area
The Added Area comprises Halsted Street (Greektown) and the Randolph Street (Market)" Districts. ~~TEis~Re1deverdpTn^ redevelopment of the Near West Redevelopment Project Area, to stimulate or stabilize not only the Added Area but also the properties within the surrounding area.
This Near West Redevelopment Plan and Project is intended to enhance the attractive appeal of the Halsted Street and Randolph Street Districts, both of which are increasingly important tourist and entertainment areas, and to establish a safe, attractive and appealing physical link between them.
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The proposed link will create opportunities for shared amenities such as hotel, parking and convenience retailing services. Unificationvof the areas (while enhancing their unique qualities) will transform -widely-held perceptions about the near west, side by creating a critical mass of "welcoming" territory that will expand incrementally as new attention and investment is drawn to the area.
Halsted Street (Greektown) District.
At present, the Halsted Street (Greektown) District is little more than a cluster of popular restaurants, a place where such commercial and social activity that transpires takes place exclusively indoors. What Greektown lacks is a well-defined and memorable public space (centered on the street) which would be conducive to the sort of civic activity that transpires in so many other Chicago entertainment and business areas. - '
In order to enhance this community, it is planned to rehabilitate the ' streets and sidewalks surrounding the easterly portion of the Halsted Street District so as to reflect the strong ethnic image and historical architecture of the Greek community and heritage. The plan proposes to furnish Greektown with the necessary architectural components that will give this area a more fitting and identifiable image. This band runs along the entire length of the Greektown corridor on both sides of the street. In this way, the streetscape becomes one of the most important architectural devices, that unify and define the Halsted Street District.
The same "Greek" theme detailing at the gateways and the sidewalks will be carried onto the facades of the existing buildings. These will be treated with specific surface alterations and additions. The new motifs applied on the facades will be distinctly Greek details inspired from ancient Greek art, history and architecture. The new facade treatment will work to unify and define Greektown. *
It is also contemplated that a new hellenic museum and cultural center may be developed and used for educational, business and cultural offices, ^and meeting rooms. _._ __ _
The existing parking areas that surround the Greektown Distri ct will be more than adequate in helping to serve the thousands of people who will be coming into Greektown to view the museum and cultural center (upon development), shop at the various stores and eat and be entertained in the outstanding Greek restaurants that abound on Halsted Street and the adjoining cross streets. ,
The proposed redevelopment and identification of the Greektown District will also help to serve the redevelopment of properties abutting the streets in
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Greektown just west of Halsted Street, i.e., Green Street, and the request for. City assistance is needed on several fronts.
Chicago as a premier convention city is in need of having this most popular eating and entertainment area enhanced so as to portray a more positive image to all its guests and visitors. The interest generated by the visitors and guests coming to Chicago's Greektown will be a substantial enhancement to the cultural aspects of our City.
Randolph Street (Market) District.
The Randolph Street (Market) District was once the heart of the City's wholesale foods trade supplying many area restaurants and groceries. The unique geometry of the public right-of-way and the several blocks of continuous vintage Chicago streetscape has resulted in various land-use changes in the area directly west of this redevelopment area. The results, now increasingly apparent, include a number of new restaurants, and a new residential community located west of this area that has emerged almost exclusively as a result of the conversion of older loft-type industrial buildings to residential use.
The presence of a growing residential community has highlighted the need to expand residential services and amenities.
Elements Of The Plan ~ Private Development Opportunities:
Encourage development of large vacant parcels of land along the expressway to create consistent enclosure of the public (street) space and provide a physical boundary along the expressway frontage.
Encourage development of outdoor public space (Halsted Street District) as focal point and public activity center within Greektown streetscape.
. --_....^^ ^velop^esign^ guidelines for street facade renovation along
Halsted and Randolph" Street areas.------------------------------~
Encourage development of shared parking and transportation facilities and convenience retailing oriented to the nearby residential community in the service/amenity zone.
Encourage infill development that is consistent with the scale and character of existing development.
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Plan Strategy.
;; Investment in the public realm can serve to encourage expanded private investment if public programs are shaped in response to market forces. The underlying plan strategy is to develop a public improvement program that reinforces and encourages further private investment.
Representative projects in the Halsted Street and Randolph Street Districts would include, but not be limited to, retail, institutional, and commercial land uses with a pronounced Greek identity along Halsted Street containing uses such as a museum, an international trade center, or imported goods marketplace (agora).
Public Improvements:
Paving and lighting improvements along Halsted Street (from Van Buren Street north) between Greektown and Randolph Market Districts (with different treatments in each area).
Construction of a gateway to the Randolph Market at the west end of Randolph Street Kennedy Expressway bridge.
Construction of a gateway to Greektown at the west end of Van Buren Street/Monroe Street/Kennedy Expressway and construction of an identity marker along the Kennedy Expressway visible to Circle interchange traffic.
Reconfiguration of Randolph Street right-of-way.
Upgrading and creating a Greek visual identity to the rapid transit station at Halsted Street and Congress Parkway; reopening of rapid transit station on the Lake Street line at Halsted Street/Lake Street line (or construction of new station at Morgan Street/Lake Street).
Creation of a buffer along Kennedy Expressway right-of-way.
C. General Land-Use Plan. ~~----
This Near West Redevelopment Plan and Project and the proposed projects described herein will be approved by the Chicago Plan Commission prior to the adoption of the Plan.
The Land-Use Plan, Map 3, identifies proposed land-uses and public rights-of-way to be in effect upon adoption of this Near West Redevelopment Plan and Project. The major land-use categories for the Original Redevelopment Project Area will be mixed-use. For the Added Area, the
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major land-use categories will be commercial, retail, institutional and related type uses including hotels and other related tourism uses. The location of all major thoroughfares and major street rights-of-way are subject to change and modification. Recommendations for specific land-use areas for each Subarea are presented below.
Subarea 1: Original Redevelopment Project Area.
The land-uses proposed for this Subarea are mixed-uses. The mixed-use category includes the provision for commercial, office, residential, retail, institutional, light industrial, parking and other related, compatible uses. As redevelopment occurs and existing parking lots are transformed into higher intensity uses, parking land-uses should be reserved to accommodate the off-street parking associated with the other allowable land-uses which generate significant jobs.
Subarea 2: Added Area.
. Halsted Street District.
The proposed land-uses for this subarea are commercial/retail, residential/office and commercial/retail and residential/office.
Randolph Street District.
The proposed land-uses for this subarea are commercial/retail, residential/office and commercial/retail and residential/office.
D. Estimated Redevelopment Project Costs.
Redevelopment project costs means the sum total of all reasonable or necessary costs incurred or estimated to be incurred, and any such costs incidental to this Near West Redevelopment Plan and Project pursuant to the Act. Such costs may include, without limitation, the following:
1. costT~of ""sYud'ies7~surveys_,~deve 1opment-of._plans_ and specifications, implementation and administration of the redevelopment plan, including but not limited to staff and professional service costs for architectural, engineering, legal, marketing, financial, planning or other services, provided, however, that no charges for professional services may be based on a percentage of the tax increment collected;
2. property assembly costs, including but not limited to acquisition of land and other property, real or personal, or rights or interest
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therein, demolition of buildings, and the clearing and grading of land;
3. costs of rehabilitation, reconstruction or repair or remodeling of existing public or private buildings and fixtures;
4. costs of the construction of public works or improvements;
5. costs of job training and retraining projects;
6. financing costs, including but not limited to all necessary and incidental expenses related to the issuance of obligations and which may include payment of interest on any obligations issued hereunder accruing during the estimated period of construction of any redevelopment project for which such obligations are issued and for not exceeding thirty-six (36) months thereafter and including reasonable reserves related thereto;
7. all or a portion of a taxing district's capital costs resulting from the redevelopment project necessarily incurred or to be incurred in furtherance of the objectives of the redevelopment plan and
. project, to the extent the municipality by written agreement accepts and approves such costs;
8. relocation costs to the extent that a municipality determines that relocation costs shall be paid or is required to make payment of relocation costs by federal or state law;
9. payment in lieu of taxes;
10. costs of job training, advanced vocational education or career education, including but not limited to courses in occupational, semi-technical or technical fields leading directly to employment, incurred by one or more taxing districts, provided that such costs (i) are related to the establishment and maintenance of additional job training, advanced vocational education or career education programs for persons employed or to be employed by employers located in a redevelopment project ~ ~~ "arelir^d~(ii)~ when- incurred- by~artaxing- district or-taxing districts other than the municipality, are set forth in a written agreement by or among the municipality and the taxing district or taxing districts, which agreement describes the program to be undertaken, including but not limited to the number of employees to be trained, a description of the training and services to be provided, the number and type of positions available or to be available, itemized costs of the program and sources of funds to pay for the same, and the term of the agreement. Such costs include, specifically, the payment by community college districts of costs pursuant to Sections 3-37, 3-
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38, 3-40 and 3-40.1 of the Public Community College Act and by school districts of costs pursuant to Sections 10-22.20a and 10-23.3a of the School Code;
11. interest costs incurred by a redeveloper related to the construction, renovation or rehabilitation of a redevelopment project provided that:
a. such costs are to be paid directly from the special tax allocation fund established pursuant to the Act;
b. such payments in any one (1) year may not exceed thirty percent (30%) of the annual interest costs incurred by the redeveloper with regard to the redevelopment project during that year;
c. if there are not sufficient funds available in the special tax allocation fund to make the payment pursuant to this paragraph 11 then the amount so due shall accrue and be payable when sufficient funds are available in the special tax allocation fund; and
d. the total of such interest payments paid pursuant to the Act may not exceed thirty percent (30%) of the total of (i) costs paid or incurred by the redeveloper for the redevelopment project plus (ii) redevelopment project costs excluding any property assembly costs, and any relocation costs incurred by a municipality pursuant to the Act.
12. unless explicitly stated in the Act, the cost of construction of new privately-owned buildings shall not be an eligible redevelopment project cost.
The estimated Near West Redevelopment Project Costs are shown in Table.l._.To_thejextent th obligations have been issued to pay for
such Near West Redevelopment" Project ~costs"incurred"prior-to;-but-in-anticipation of, the adoption of tax increment financing, the City shall be reimbursed for such Near West Redevelopment Project costs. The total Near West Redevelopment Project costs provide an upper limit on expenditures (exclusive of capitalized interest, issuance costs, interest and other financing costs). Within this limit, adjustments may be made in line items without amendment to this Near West Redevelopment Plan and Project. Additional funding in the form of state and federal grants, and private developer contributions will be pursued by the City as a means of financing improvements and facilities which are of a general community benefit.
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Table 1.
Estimated Redevelopment Project Costs.
Program Action/Improvements.
Initial Additional ,,- Total
Project Costs Project Costs Project Costs
Land Acquisition $12,500,000 $3,000,000 $15,500,000
Site Preparation/Environmental 500,000 750,000 ~ * 1,250,000
Remediation/Demolition 1,000,000 3,500,000 ., 4,500,000
Rehabilitation 500,000 2,500,000 - 3,000,000
Public Improvements . . " 4,250,000 4,000,000 _ 8,250,000
Job Training 3,000,000 250,000 > -'3,250,000
Interest Subsidy 3,000,000 500,000 >; *3,500,000
Planning, Legal, Professional 1,000,000 250,000 ',1,250,000
" ■ %,-£SK-''^vkS>®?
Relocation 750,000 250,000 ^1,000,000
Capitalized Interest 7,000,000 * , 7,000,000
Contingency 500.000 * . .<. ......
* Exclusive of capitalized interest, issuance costs and other financing costs.
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TOTAL REDEVELOPMENT PROJECT COSTS: $34,000,000 (1) $14,500,000 (2)* $48,500,000
E. Sources Of Funds To Pay Redevelopment Project Costs.
Funds necessary to pay for Near West Redevelopment Project costs and municipal obligations which have been issued to pay for such costs are to be derived principally by tax increment revenues and/or tax increment revenues from municipal obligations which have as their revenue source tax increment revenue. The tax increment revenue which may be used to secure municipal obligations or pay for eligible Near West Redevelopment Project costs shall be the incremental real property tax revenues. To secure the issuance of these obligations, the City may permit the utilization of guarantees, deposits and other forms of security made available by private sector developers.
* Exclusive of capitalized interest, issuance costs and other financing costs.
(1) All costs are 1988 dollars. In addition to,the above stated costs, each issue of bonds issued to finance a phase of the project may include an amount of proceeds sufficient to pay customary and reasonable charges associated with the issuance of such obligations. Adjustments to the estimated line items costs above are expected. Each individual project cost will be reevaluated in light of projected private development and resulting incremental tax revenues as it is considered for public financing under the provisions of the Act. The totals of line items set forth above are not intended to place a total limit on the described expenditures. Adjustments may be made in line items within the total, either increasing or decreasing line items costs for redevelopment costs. All capitalized interest estimates are in 1988 dollars and include current market rates.
(2) All costs are 1996 dollars. In addition to the above stated costs, each issue of bonds issued to finance a phase of the project may include an amount of proceeds,sufHcielit~^
with the issuance of such obligations. Adjustments to the estimated line item costs above are expected. Each individual project cost will be reevaluated in light of projected private development and resulting incremental tax revenues as it is considered for public financing under the provisions of the Act. The totals of line items set forth above are not intended to place a total limit on the described expenditures. Adjustments may be made in line items within the total, either increasing or decreasing line items costs for redevelopment costs.
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Incremental real property tax revenue is attributable to the increase in the current equalized assessed value of each taxable lot, block, tract or parcel of real property in the Near West Redevelopment Project Area over and above the initial equalized assessed value of each such property in the Near West Redevelopment Project Area. Without the use of such tax incremental revenues, the Near West Redevelopment Project Area would not reasonably be anticipated to be developed. All incremental revenues utilized by the City of Chicago will be utilized exclusively for the development of the Near West Redevelopment Project Area.
There may be other sources of funds which the City may elect to use to pay for Near West Redevelopment Project costs or obligations issued, the proceeds of which will be used to pay for such costs, including but not limited to state and federal grants and land disposition proceeds generated from the . district.
The amount of revenues from the Near West Redevelopment Project Area made available to support any contiguous redevelopment project area, when added to all amounts used to pay eligible redevelopment project costs within the Near West Redevelopment Project Area, shall not at any time exceed the Total Redevelopment Project costs described on Table 1 (unless otherwise amended).
Issuance Of Obligations.
To finance Near West Redevelopment Project costs, a municipality may issue general obligation bonds or obligations secured by the anticipated tax increment revenue generated within the Near West Redevelopment Project Area or the City may permit the utilization of guarantees, deposits and other forms of security made available by private sector developers to secure such obligations. In addition, a municipality may pledge toward payment of such obligations any part or any combination of the following: (a) net revenues of all or part of any redevelopment project; (b) taxes levied and collected on any or all property in the municipality; (c) the full faith and credit of the municipality; (d) a mortgage on part or all of the Near West Redevelopment Project Area; or (e) any other taxes or anticipated receipts that the ^unicipjdity may lawfully pledge.
All obligations issued by the City pursuant to this Near West Redevelopment Plan and Project and the Act shall be retired within twenty-three (23) years (by the year 2012) from the adoption of the ordinance approving the Original Redevelopment Project Area. Also, the final maturity date of any such obligations which are issued may not be later than twenty (20) years from their respective dates of issue. One or more series of obligations may be sold at one or more times in order to implement this
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Near West Redevelopment Plan and Project. The amounts payable in any year as principal and interest on all obligations issued by the City pursuant to the Near West Redevelopment Plan and Project and the Act shall not exceed the amounts available, or projected to be available, from tax increment revenues and from such bond sinking funds or other sources of funds (including ad valorem taxes) as may be provided by ordinance. Obligations may be of a parity or senior/junior lien nature. Obligations issued may be serial or term maturities, and may or may not be subject to mandatory, sinking fund, or optional redemptions.
Tax increment revenues shall be used for the scheduled and/or early retirement of obligations, and for reserves, bond sinking funds and Near West Redevelopment.Project costs, and, to the extent that real property tax increment is not used for such purposes, shall be declared surplus and shall then become available for distribution annually to taxing districts in the Near West Redevelopment Project Area in the manner provided by the Act.
Most Recent Equalized Assessed Valuation Of Properties In The Redevelopment Project Area.
The purpose of identifying the most recent E.A.V. of properties in the Near West Redevelopment Project Area is to provide an estimate of the initial E.A.V. which the Cook County Clerk will certify for the purpose of calculating incremental E.A.V. and incremental property .taxes. In the case, of the "Madison-Racine Tax Incremental Financing Redevelopment Project andTlan", there is an initial E.A.V. (using 1988 E.A.V.) for.the,area originally adopted January, 1989, and a second initial E.A.V. (using 1994 E.A.V.) for the area to be amended to the Original Redevelopment Project Area. ' j
Table 2, Summary of Equalized Assessed Valuation, summarizes initial equalized assessed valuations of parcels within the Original Redevelopment Project Area and Added Area. The E.A.V. summary for the Original Redevelopment Project Area has since been Certified as the initial Equalized Assessed Valuation by the Cook County Clerk on March 23,1989, and is Five Million Nine Hundred Fifty-four Thousand Nine Hundred Ninety-three Dollars ($5,954,993).
The initial E.A.V. summarized in Table 2 for the Added Area serves as the estimated initial equalized assessed valuations of blocks within the Added Area as of January 1996. The total initial E.A.V. for the Added Area is estimated at Thirty Million Six Hundred Sixty-eight Thousand Five Hundred Twenty-eight Dollars ($30,668,528) and assumes this Near West Redevelopment Plan and Project will occur before the 1995 state equalization factor is issued which is sometime in June or July 1996. In the event the amendment is adopted after the 1995 state equalization factor is issued, then the 1995 assessed valuations and 1995 state equalization factor will be used by the County to determine the initial E.A.V. for the Added
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Area. Additionally, this estimated amount is subject to any Certificates of Error which may be adjudicated before a final certified initial E.A.V. is issued by the Cook County Clerk's office.
The total certified initial E.A.V. for the entire Near West Redevelopment Project Area is estimated at Thirty-six Million Six Hundred Twenty-three Thousand Five Hundred Twenty-one Dollars ($36,623,521).
Anticipated Equalized Assessed Valuation.
By the year 2002 when it is estimated that commercial development will be completed and fully assessed, the estimated equalized assessed valuation of real property within the Near West Redevelopment Project Area is estimated at between Forty-five Million Dollars ($45,000,000) and Fifty Million Dollars ($50,000,000). By the year 2003, when it is estimated that all of the development will be completed and fully assessed, the equalized assessed valuation of real property within the Near West Redevelopment Project Area is estimated to be between Forty-seven Million Five Hundred Thousand Dollars ($47,500,000) and Fifty-two Million Dollars ($52,000,000). these estimates are based on several key assumptions, including: 1) all
commercial redevelopment will be completed in 19_; 2) the market value
of the anticipated developments will increase following completion of the redevelopment activities described in this Near West Redevelopment Plan and Project; 3) the most recent State Multiplier of 2.1135 as applied to 1994 assessed values will remain unchanged; and 4) for the duration of the project, the tax rate for the entire Near West Redevelopment Project Area is assumed to be the same and will remain unchanged from the 1994 level.
F. Lack Of Growth And Development Through Investment By Private Enterprise.
As described in the Conservation Area Conditions Section of this Near West Redevelopment Plan and Project report, the Added Area as a whole is adversely impacted by the presence of numerous factors, and these factors are reasonably distributed throughout the Added Area. The Added Area on the_jwhole has^not been subject to growth and development through inyestment'by pTivatT"enterprise"^
evidenced by continued existence of the factors referenced above and the lack of new development projects initiated or completed within the Added Area.
The lack of growth and investment by the private sector is supported by the trend in the equalized assessed valuation "E.A. V." of all the property in the Added Area during the period of 1993 and 1994. The 1994 E.A.V. represents a tri-annual reassessment for all the properties within this area. Generally the E.A.V. has increased modestly in the Added Area, however forty-seven percent (47%) of the parcels in a tri-annual assessed year either stayed the same or. decreased in terms of equalized assessed valuation. The
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Added Area contains two hundred ten (210) parcels. Of the two hundred ten (210) parcels, eleven percent (11%) twenty-three (23 parcels) have increases of thirty percent (30%) or more from 1993 to 1994. The E.A.V. increase from 1993 to 1994 (not including the above referenced twenty-three (23) parcels) represents a one and sixty-nine one-hundredths percent (1.69%) rate of increase, which is significantly below the City's five percent (5%) rate of increase during this period.
There has been a limited amount of investment in the last two (2) years in both the Randolph and Halsted Street Districts. A summary of the building permit requests for new construction and major renovation from the City of Chicago is found in Exhibit 2 Building Permit Requests. ;
Building permit requests for renovation and new construction for the Added Area from 1993 - 1995 total Eight Million Four Thousand Seventy Dollars ($8,004,070). Three projects, 845 West Madison Street, 14 North Peoria Street and 28 North Halsted Street account for over Five Million Five Hundred Eighty-four Thousand Dollars ($5,584,000) during that period. Two of these projects (845 West Madison Street and 14 North Peoria Street) were complete renovations of multi-story buildings for office use and residential use, respectively. Building permit requests from 1993 -- 1995 excluding the three (3) previously mentioned projects totaled Two Million Four Hundred Fifty-nine Thousand Eight Hundred Sixty Dollars ($2,459,860).
Total
Grand Madison , Peoria Halsted Without Three Total Street Street Street Projects
1993 $4,893,200 $3,500,000 $859,000 $0 $ 534,000
1994 1,470,028 335,000 40,000 0 1,135,028
1995 1,640,842 0 0 850,000 790,842
On an annulirbasis, this^ investment representsless"^ of the market value of the Added Area.
It is clear from the study of this area that private investment in revitalization and redevelopment has not occurred to overcome the Conservation Area conditions that currently exist. The Added Area is not reasonably expected to be developed without the efforts and leadership of the City, including the adoption of this Near West Redevelopment Plan and Project.
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G. Financial Impact Of The Redevelopment Project. ' ;
Without the adoption of this Near West Redevelopment Plan and Project and tax increment financing, the Near West Redevelopment Project Area is not reasonably expected to be redeveloped by private enterprise. There is a real prospect that the Conservation Area conditions will continue and are likely to spread, and the surrounding area will become less attractive for the maintenance and improvement of existing buildings and sites. The possibility of the erosion of the assessed value of property w hich would result from the lack of a concerted effort by the City to stimulate revitalization and redevelopment could lead to a reduction of real estate tax revenue to all taxing districts. Sections A, B, and C of this Near West Redevelopment Plan and Project describe the comprehensive redevelopment program proposed to be undertaken by the City to create an environment in which, private investment can occur. The Near West Redevelopment Project will be staged with various developments taking place over a period of years.' If the Near West Redevelopment Project is successful, various new private projects will be undertaken that will assist in alleviating the Conservation Area conditions which caused the Near West Redevelopment Project Area to qualify as a Conservation Area under the Act, creating new jobs and promoting development in the Near West Redevelopment Project Area.
The Near West Redevelopment Project is expected to have short and long term financial impacts on the taxing districts affected by this Near West Redevelopment Plan and Project. During the period when tax, increment financing is utilized, real estate tax increment revenues (from the increases in Equalized Assessed Valuation (E.A.V.) over and above the certified initial E.A.V. established at the time of adoption of this Plan and Project).will be used to pay eligible redevelopment project costs for the Near West Tax' Increment Financing District. Incremental revenues will not be available to these taxing districts during this period. At the end of the T.I.F. time period, the real estate tax revenues will be distributed to all taxing districts levying taxes against property located in the Near West Redevelopment Project Area. .
H. Demand On Taxing District Services. , ^
The" following "m^^ properties located within the Near West Redevelopment Project Area: City of Chicago; Chicago Board of Education; Chicago School Finance Authority; Chicago Park District; Chicago Community College District; Metropolitan Water Reclamation District of Greater Chicago; County of Cook; and Cook County ' Forest Preserve District.
The proposed Near West Redevelopment Project involves the acquisition of vacant and underutilized land, new construction of commercial/retail buildings. Therefore, the financial burden of the Near West Redevelopment Project on taxing districts is expected to be negligible.
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Non-residential development, such as retail, commercial and industrial uses, should not cause increased demand for services or capital improvements on any of the taxing districts named above except for the Metropolitan Water Reclamation District. Replacement of vacant and underutilized land with active and more intensive uses will result in additional demands on services and facilities provided by the Metropolitan Water Reclamation District. However, it is expected that any increase in demand for treatment of sanitary and storm sewage associated with the Near West Redevelopment Project Area can be adequately handled by existing treatment facilities maintained and operated by the Metropolitan Water Reclamation District. Additionally, any additional cost to the City of Chicago for police, fire protection and sanitation services will be minimal since the commercial/retail and industrial developments will privately pay for the majority of the costs of these services (i.e., sanitation services).
Without the adoption of this Near West Redevelopment Plan and Project and tax increment financing, the Added Area is not reasonably expected to be redeveloped by private enterprise. There is a real prospect that the Conservation Area factors will continue to exist and spread, and the area as a whole will become less attractive for the maintainence and improvement of existing buildings and sites and will become a blighted area. The possibility of the erosion of the assessed value of property which would result from the lack of a concerted effort by the City to stimulate revitalization and redevelopment could lead to a reduction of real estate tax revenue to all taxing districts.
If successful, the implementation of the Near West Redevelopment Project may enhance the values of properties within and adjacent to the Near West Redevelopment Project Area.
I. Program To Address Financial And Service Impacts.
As described in detail in prior sections of this report, the complete scale and amount of development in the Near West Redevelopment Project Area cannot be predicted with complete certainty at this time and the demand for services provided by those taxing districts cannot be quantified at this time.
"As indicated in Section!),; EstimatedRedevelopment-Project- Costs of-this-Near West Redevelopment Plan and Project, the City may provide public improvements and facilities to service the Near West Redevelopment Project Area. It is likely that any potential improvements may mitigate some of the additional service and capital demands placed on taxing districts as a result of the implementation of this Near West Redevelopment Plan and Project.
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Provision For Amending Action Plan.
The Near West Redevelopment Plan and Project may be amended pursuant to the provisions of the Act.
Affirmative Action Plan.
The City is committed to and will affirmatively implement the following principles with respect to the Near West Redevelopment Project Area:
A. The assurance of equal opportunity in all personnel and employment actions with respect to the Near West Redevelopment Plan and Project, including but not limited to hiring, training, transfer, promotion, discipline, fringe benefits, salary, employment working conditions, termination, etc., without regard to race, color, religion, sex, age, handicapped status, national origin, creed, or ancestry.
B. Redeveloper will meet City of Chicago standards for participation of Minority Business Enterprises and Women Business Enterprises as required in redevelopment agreements.
C. This commitment to affirmative action and nondiscrimination will ensure that all members of the protected groups are sought out to compete for all job openings and promotional opportunities. '
Phasing And Scheduling Of Redevelopment.
A phased implementation strategy will be utilized" to achieve a timely-and., orderly redevelopment of the Near West Redevelopment Project Area. City expenditures for Redevelopment Project costs will be carefully staged on a reasonable and proportional basis to coincide with expenditures in redevelopment by private developers. The estimated date for completion of the Redevelopment Project shall be no later than twenty-three (23) years from the adoption of the original ordinance by the City Council of the City approving the Original Redevelopment Project Area.
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[Map 1 (Redevelopment Project Boundary Map) referred to in this Near West Redevelopment Project Area Plan and Project constitutes Exhibit "F" to the ordinance and printed on page 23178 of this Journal.]
[Map 2 (Existing Land-Use Map), Map 3 (Proposed Land-Use Map) Map 4 (Property Which May Be Acquired Map) and Table 2 referred to in this Near West Redevelopment Project Area Plan and Project printed on pages 23284 through 23295 of this Journal.]
Attachments 1 and 2 referred to in this Near West Redevelopment Project Area Plan and Project read as follows:
Attachment 1.
(To Near West Redevelopment Project Plan And Project)
Eligibility Report
City Of Chicago, Illinois Tax Increment Redevelopment Area Number Madison-Racine Redevelopment Plan And Project ~~"~~(Enterpriie~Busihess Park)r----------------------
1.
Introduction.
The purpose of this report is to document in a comprehensive way the extent of the factors of a "Conservation Area" which may be found in the
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area designated as the Enterprise Business Park in Chicago, Illinois, and to determine the eligibility of this area for such status pursuant to the Tax Increment Allocation Redevelopment Act, Illinois Rev. Stat, Section 11-74.4-3 (the "Act").
The proposed Redevelopment Project Area (the "R.P.A.") is generally described as follows:
the northern boundary of the R.P.A. is West Washington Boulevard and West Randolph Street (along the 1000 and 1100 blocks of West Washington Boulevard); the southern boundary is generally West Monroe Street and West Madison Street; the eastern boundary is South Green Street and North Peoria Street; and the western boundary is South Aberdeen Street and North May Street.
The survey was undertaken in November and December, 1988 and also includes the findings of previous surveys and inventories conducted by various firms and agencies which were available and are pertinent to the evaluation of this area.
The Basis For Redevelopment.
The elimination or reduction of conservation area factors within Illinois communities through the implementation of conservation measures and redevelopment is addressed by the Act. The Act authorizes the use of tax increment revenues derived from the tax rates of various taxing districts in a project area for the payment of redevelopment projects. For redevelopment eligibility, under this legislation, a subject area must contain conditions which warrant its designation as a "Conservation Area".
According to Section 11-74.4-3 of the Act (in pertinent part), a "Conservation Area" means: i
(a) "Conservation Area" means any improved area within the boundaries of a redevelopment project area located within the
_______territorial limits of the municipality in which fifty percent (50%)
"or more" of toe structures-^
(35) years or more. Such an area is not yet a blighted area but ~ because of a combination of three (3) or more of the following factors: dilapidation; obsolescence; deterioration; illegal use of individual structures; presence of structures below minimum code standards; abandonment; excessive vacancies; overcrowding of structures and community facilities; lack of ventilation, light or sanitary facilities; inadequate utilities; excessive land coverage; deleterious land-use or layout; depreciation of physical maintenance; lack of community
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planning, is detrimental to the public safety, health, morals or welfare, and such an area may become a blighted area.
The area as a whole qualifies as a conservation area due to the conditions that are characteristic of the area as a whole. However, within the R.P.A. are blocks that, on their own, possess conditions which would qualify those blocks as "blighted", as such term is defined and used in the Act. Conclusions in the report are based on conditions in the area as a whole, but might be reaggregated to define "blighted" and "conservation" areas within theR.P.A
2.
Redevelopment Study Area.
The City of Chicago's (the "City") Near West Side commercial area (and particularly what is known as the Madison-Racine Commercial District) has been significantly blighted since the early 1970s. The Madison-Racine Commercial District is generally bounded on the north by West Lake Street, on the east by the John F. Kennedy Expressway, on the south by West Monroe Street and West Madison Street, and on the west by North Ogden Avenue. The Madison-Racine area was determined to be a slum and blighted area by the Department of Urban Renewal pursuant to Resolution No. 76DUR68 on May 25, 1976. The Chicago City Council approved the designation of slum and blighted on June 22,1976. The redevelopment plan for the area was adopted by the Chicago City Council on October 24, 1979. In December of 1980, the Commercial District Commission of the City of Chicago designated the Madison-Racine Project as a blighted area in need of commercial development. Factors contributing to the decline of this originally strong industrial and manufacturing district include the construction of the Dan Ryan Expressway, changing United States retail shopping patterns, and the increased burden of lower income residents relocated into the areas due to urban renewal projects on the Loop's west side. _ _
From 1970 to 1985, the Near West Side experienced an estimated loss of approximately twenty-five thousand three hundred twenty-three (25,323) individuals, accounting for a thirty-two percent (32%) total loss. This loss in population ranks eighth (8th) highest of the seventy-seven (77) city community areas. Additionally, this loss occurred during a time when the City was experiencing an overall population gain.
The 1980 Census median family income places the Near West Side area at Seven Thousand Five Hundred Thirty-four Dollars ($7,534) and the
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S.M.S.A. at Twenty-four Thousand Five Hundred Thirty-six Dollars ($24,536). These figures indicate an outstanding disparity between residents of the Near West Side and the rest of the metropolitan area.
Approximately fifty-two percent (52%) of those residents living on the Near West Side have incomes below poverty level, Additionally, forty-eight percent (48%) of the families are at or below poverty level. In 1980, the unemployment rate was at nineteen percent (19%), and City sources suggest this rate may have decreased only slightly by 1988.
The City has made efforts through various programs to clear many of the deteriorated and substandard buildings from the area since 1977. There are blocks of dilapidated housing and manufacturing buildings, as well as many unkept vacant lots that still exist. A survey of the Madison-Racine district, taken in 1976, described over ninety percent (90%) of the buildings as being of a dilapidated or deteriorated nature; the majority of these structures were non-residential. , '
The Enterprise Business Park Redevelopment Project Area (R.P.A.) is part of the larger Madison-Racine Project Area. As described previously, the larger area as designated a number of years ago suffered from the presence of older, obsolete structures. Most of these structures were in very poor condition as described in the designation report. The area within the R.P.A. as well as near the R.P.A. was targeted for a more intensive acquisition;plan by the City (in comparison to the rest of the Madison-Racine Project Area). Since 1979, a number of parcels within the vicinity of the R.P.A. Have been acquired by the City. Reference to the 1979 acquisition map indicates.that a number of structures have since been razed. The construction of the Motorola facility (not located within the R.P.A.), the Federal Express facility, and the rehab of the building housing Social Security offices,attest to the importance of the City of Chicago efforts to date. However, the examples above illustrate separate projects that were not coordinated with one another and are not able to generate significant area- wide confidence (as perceived by the marketplace). The newer projects, as well as removal of structures, have served to remove some conditions of blight within the area.-
Reference to information contained in the Mid-Chicago Economic Development JProjert report entitled "A Partnership for Action" (1970), indicates that many obstecleTtoTea^veto^ (8) -
industrial areas, including the West-Central area in which theR.P.A. is located, were surveyed by the City. At that time, eighty-six percent (86%) of the firms surveyed were located in multi-story buildings, while only thirty-eight percent (38%) of firms were in buildings less than forty (40) years old. These statistics ranked at the top or near the top range in comparison to firms in other areas. Most firms noted that very little room was available for expansion. Most common problems reported by surveyed firms in 1970 related to environmental conditions (surrounding community ; appearance, other uses), crime and vandalism, and poor condition of streets, curbs, etc
/
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The R.P.A., and the area adjacent to the R.P:A., both contain many multistory buildings which are obsolete (by current standards) for more intensive industrial or commercial reuse. The condition of sidewalks, streets and curbs within the R.P.A. is very poor. Many of the sidewalks are of vaulted construction. Disrepair and deferred maintenance have resulted in cracking and holes in sidewalks, a condition that is dangerous as well as unsightly in appearance. Evidence of vandalism is still present - grafitti, debris strewn in lots, dumping in alleys and lots were observed during site surveys.
Many of the older buildings constructed within the R.P.A. were designed for uses that are different from current ones. Changes in technology as well as production have resulted in industrial shifts to single-story structures with higher ceilings and more efficient loading facilities. Many garage structures and uses within the R.P.A. do not efficiently utilize space, nor do they provide for a more intensive redevelopment of the R.P.A Many of the blocks are characterized by a variety of users, types of buildings (e.g., multistory and single-story), and condition of structures.
The site survey as well as the review of uses within the R.P.A. indicates that problems still exist. Due to the fact that more recent City and private sector activity has been undertaken, some of the blighted conditions have been mitigated. However, the need for a coordinated series of public improvements and assistance in combination with private investment of considerable size and scope is required to stem blighting conditions, in order to bring the area as a whole back to productive reuse. Based upon site surveys as well as other available information, the R.P.A. qualifies as a "conservation area" on an area-wide basis. The age of the structures, the ~ presence of obsolesence, depreciation of physical maintenance, inadequate utilities (overall condition of sidewalks, curbs and streets), and deleterious land-use and layout, were present to a major extent throughout the twelve (12) blocks. All blocks within the area indicate the presence of some conservation qualification factors. In addition to the factors described above, deterioration, excessive vacancies, existence of structures below minimum code, and excessive land coverage are also present in some of the blocks.
3.
Site Evaluation.
Building And Site Conditions.
The evaluation of existing buildings and site conditions is a primary step in determining the eligibility of a redevelopment area. The system for classifying buildings is based upon exterior site surveys and additional information provided by the City. The information was organized to provide an analytical evaluation of the existing conditions in the study area.
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Survey And Analysis Procedure.
The condition analysis is based on exterior inspections within the study area conducted during November and December, 1988. The exterior survey was conducted as the initial phase of the analysis, to note obvious structural deficiencies. The results of the exterior survey are detailed on the attached chart. Each property within each block was examined and given a classification.
The properties were examined using the following factors:
1. Age: Simply the time which has passed since building construction was completed.
2. Illegal Use of Structure: The presence on the property of illegal uses or activities.
3. Structure Below Minimum Code Standards: Local standards of building, fire, housing, zoning, subdivision or lack of conformance with other applicable governmental codes.
.4. Excessive Vacancies: When the occupancy or use level of the building is low for frequent or lengthy periods so as to represent an adverse area influence.
5. Lack of Ventilation, Light or Sanitary Facilities: Conditions which would negatively influence the health and welfare of building users. \
6. Inadequate Utilities: Deficiencies in sewer, water supply, storm drainage, electricity, streets or other necessary site services.
7. Abandonment. The building is unoccupied and unused, and no apparent effort is being directed toward occupancy and use.
8. Dilapidation: The condition where the safe use of the building is seriously impaired, as evidenced by substandard structural
______________________ conditions; this is an advanced stage of deterioration.
9. Obsolescence: When the structure has become or will soon become ill-suited for the originally designed use.
10. Deterioration: A condition where the quality of the building has declined in terms of structural integrity and/or building systems due to lack of investment, misuse or age.
11. Overcrowding of Structures and Community Facilities: A level of use beyond a designed or legally permitted level.
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12. Excessive Land Coverage: Site coverage of an, unacceptably high level.
13. Deleterious Land-Use or Layout:. Inappropriate property use or plotting, or other negative influences not otherwise covered, which discourages investment in a property.
14. Depreciation of Physical Maintenance: Decline in property maintenance which leads to building degeneration, health and safety hazards, unattractive nuisances, unsightliness, property value decline and area distress.
15. Lack of Community Planning: Deficiency in local direction of growth, development or redevelopment in order to maintain or enhance the viability of the area or community.
The following codes were assigned to each factor per block:
Major-M Factor present to a major extent
within a block.
Moderate - Mod Factor present to a moderate extent
within a block.
Minor - Min . Factor present to a minor extent
within a block.
Not Present N Factor not present at all within the
block;
4. ' ' '
Overall Theory Of Qualification.
The presence of several factors interact to make the R.P.A. a Conservation Area. The physical condition of the structures, their positions vis-a-vis each other, and the network of streets and sidewalks that connect the structures interact to create an inefficient system for reuse; unless these conditions are improved, the R.P.A. will evidence continued economic stagnation and decline. The relevant factors are the following (please refer to above for definitions of the following factors):
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1)
Age.
2)
Obsolescence.
3) Depreciation of Physical Maintenance.
4)
Inadequate Utilities.
5)
Deleterious Land-Use or Layout.
6)
Deterioration.
7)
Excessive Land Coverage.
8) Structures Below Minimum Code Standards.
9) Excessive Vacancies. 'i 10) Lack of Community Planning.
Several of the above factors lower the value of both individual properties and the value of property for the area as a whole. Depreciation of physical maintenance leads to a state of disrepair. The onset of time (age) hastens this state of disrepair. This state of disrepair can become a state of deterioration. Structures that are below minimum code standards reduce the value of structures. Functional obsolescence, and deleterious land-use or layout, make it difficult to efficiently utilize structures and sites for current industrial and commercial needs. Inadequate utilities, such as sidewalks, streets, alleys and curbs, makes it difficult to flow both people and goods to points within and without the area. Excessive land coverage leaves little room for expansion or reconfiguration of current operations. Lack of community planning, in the form of street layout and platting, results in a land-use pattern that is of little use to any particular form of user (industrial, commercial, residential), and of little use to all in addition, it makes it difficult for say, an industrial user to expand onto adjacent facilities, especially if such facilities are commercial or residential. Excessive vacancies depress rents. The presence of these factors effects more " than jusTthnr^ as a whole.
The lower value of property results in lower rents and return on investment. Importantly, since the area as a whole suffers from depressed rents, an individual property owner is unlikely to receive much of a return on his individual investment; the deterioration around the individual property will force down that property's value. This investment climate discourages investment. Without such investment the factors mentioned above will continue to exist, and further decay will ensue.
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5.
Determination Of Eligibility.
The following Conservation Area qualification factors are present: 1. Age.
Of the approximately seventy-two (72) buildings within the area, about sixty-three (63) or eighty-eight percent (88%). are thirty-five (35) years of age or older. Age as a factor is present to a major extent in all the twelve (12) blocks that compromise the Redevelopment Project Area.
2. Obsolescence.
Of the approximately seventy^two (72) structures, it is estimated that about forty-nine (49) or sixty-eight percent (68%) of the structures are functionally anoVdr economically obsolete. In nine (9) of the twelve (12) blocks obsolescence is present in fifty percent (50%) or more of the structures; in two (2) blocks twenty-five percent (25%) to fifty percent (50%) of the structures were characterized as obsolete.
3. . Depreciation Of Physical Maintenance.
It is estimated that fifty-six (56) out of seventy-two (72) structures, or seventy-eight percent (78%) exhibit some evidence (in varying degrees) of depreciation of physical maintenance; twenty-two (22) out of twenty-six (26) vacant parking iots, or about eighty-five percent (85%), exhibited depreciation of physical maintenance. Depreciation is present to a major degree in eleven (11) out of twelve (12) blocks, and to an average degree in the remaining block.
4. Inadequate Utilities
Inadequate utilities are present throughout the Redevelopment Project Area. Inadequate utilities are present to a major extent , in nine (9) out of the twelve (12) blocks. The roads throughout the Redevelopment Project Area are in poor condition. Vaulted sidewalks are in poor condition and in many cases serve as a hazard to pedestrian traffic.
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5. Deleterious Land-Use Or Layout.
' '
The area as a whole lacks adequate off-street parking. Many structures had low land to building ratios, which makes it difficult to reconfigure or expand current operations.
Other qualifying factors exist to a minor extent. Some structures are below minimum code requirements; some structures have excessive land coverage. Excessive vacancies are present in some structures; some vacant, unpaved lots have no present use except to remain underutilized without addressing area wide redevelopment. Some structures exhibit deterioration. The area was platted primarily in the nineteenth century; as consequence, the City was not able to guide the platting and building'of structures through a comprehensive plan. Many of the structures and property are better suited for less intensive uses (e.g. garages, parking) or for market uses that are no longer viable (e.g., multi-story industrial). The block summaries that follow are based upon site surveys only and are to be supplemented by. file material. The summaries are provided to give an overall description and impression of the area's structures, general site conditions, and description of uses. ■"',-]'
■ ■■' -~ ■ .' ■
Block Number 203. ' * '
A majority of the structures are greater than thirty-five (35) years old. A majority of the structures are functionally and economically obsolete; due to the poor conditions of the structures. Depreciation is evidenced in a majority of structures, as well as broken windows, deteriorating tuckpbinting, cracked paint, parapet deteriorating, et cetera. Three (3) unpaved lots are over grown with vegetation; fences are rusted and sagging along with several storefront vacancies. There are both residential and retail uses on -the block. Sidewalks and curbs are in extremely poor condition.
Block Number 204.
j._ Ajnajpj*ity of the structures are over fifty (50) years old. Parking lots are unpaved and surrounded"^ in poor-condition.-- Narrow
alleyways divide this block from Blocks 203 and 205, which may make transportation difficult in spots. Alley is in poor condition and many loading doors and windows are in poor shape, as are some wall/roof connections.
Block Number 205.
The majority of the block is an unpaved parking lot, with surrounding fence in poor condition. No curbs exist and some depreciation of physical
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maintenance exists as well; facades are in poor condition. There is a presence of overgrown vegetation. .
Block Number 208.
Some structures are over thirty-five (35) years old. Sidewalks and curbs . are in poor condition. Many vacant storefronts exist. Also present is depreciation of physical maintenance for the majority of structures. It also appears that a majority of the structures exhibit some form of economic or functional obsolescence. There is also an unpaved parking lot overgrown with vegetation.
Block Number 445.
A majority of the structures are over thirty-five (35) years old. Also, a majority of structures appear to exhibit characteristics of functional or economic obsolescence and exhibit depreciation of physical maintenance. There are unpaved parking lots with fences in poor condition. Many windows and facades are in poor condition with some debris in vacant lots. Curbs and sidewalks are in poor condition. There is also inadequate off-street parking.
Block Number 446.
A majority of the structures are over thirty-five (35) years old, and exhibit characteristics of obsolescence and depreciation of physical maintenance. Many storefronts are in poor condition. Many windows are boarded-up, with facade requiring work (tuckpointing, et cetera). Loading docks are in poor shape and have rusting fences. Parking lots are unpaved with overgrown vegetation. Curbs and sidewalks are in poor shape (inadequate utilities). Residential, retail and distribution uses on same block with inadequate off-street parking and some existing vacancies.
Block Number 448.
A majority of improved space is over thirty-five (35) years old. One (1) structure (two (2) in total) on the block exhibits characteristics of obsolescence and exhibits depreciation of physical maintenance. Facades and loading docks require some repair, and numerous windows are broken. Overall the block is in poor condition. There is a vacant, unpaved parking lot on the block.
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Block Number 207.
The block contains sidewalks and curbs in poor condition with some evidence of deterioration. One (1) empty lot within the block is unpaved and is surrounded by a wire fence which is in poor condition. A second empty lot is also unpaved and surrounded by a chain link fence which is in poor condition and on day of viewing was partially filled with cars. Along with the conditions of the sidewalks both lots show evidence of depreciation of physical maintenance, deterioration and deleterious land-use or layout. Also located within the dock is a combination one-and two-story industrial building with garage/warehouse space, office space and a loading dock. The building shows possible signs of depreciation of physical maintenance.
Major factors found within the block are: depreciation of physical maintenance, deterioration, excessive vacancies, inadequate utilities and possible deleterious land-uses or layout.
Block Number 447.
The block houses a one- to two-story brick building showing signs of being in average to poor condition. The building shows signs of depreciation, especially to facade, and possible signs of age, obsolescence and excessive land coverage. The sidewalks along the building are cracked and in poor condition.
Also, located within the block is a one-story building which shows possible signs of age, obsolescence and excessive land coverage. It is not known from the exterior whether the building is occupied from the Washington Boulevard side. However, from Sangamon Street the building is occupied by one (1) business and the structure appears to be in poor to average condition. The sidewalks running along the building are cracked and in poor condition.
On the east side of the block is a one-story brick building appearing to be occupied and in poor condition, showing possible signs of age, obsolescence, deterioration and structures below minimum code standards.
A three-story brick loft building in average condition is also located on the "blb^k;"showing-possible-signs-of-depr.e^^^ such as the ground level and the southern portion. " ~~ -----------
The block also contains two (2) empty lots, the first of which contained a for sale sign surrounded by weeds and other vegetation. The lot showed signs of depreciation of physical maintenance, and deleterious land-uses or layout. The sidewalk near the lot shows signs of deterioration - especially the curbs - and is predominantly cracked and in poor condition. The second empty lot adjacent to the loft building shows some depreciation, especially of the fence and paving.
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JOURNAL-CITY COUNCIL--CHICAGO ' 6/10/96
Overall, the entire block shows major signs of depreciation of physical maintenance deleterious land-uses or layout, age, and obsolescence.
Block Number 444.
The block contains a three (3) story brick building - a loft construction of which the first floor appears occupied, with some depreciation near windows. The building covers the whole lot and shows signs of excessive land coverage; The building also shows signs of age, obsolescence, deterioration, excessive vacancies and deleterious land-uses or layout. Adjacent to the building lies a two (2) story white brick building in average to poor condition. The first floor appears occupied and possibly the second floor. The front of the building has been replaced by glass block. The building shows signs of age, obsolescence, depreciation of physical maintenance, inadequate utilities, and deleterious land-uses or layout.
Located next to the building is a vacant unpaved lot in poor condition. The lot is surrounded by a rusted fence in a depreciated condition. There are signs of depreciation of physical maintenance, and excessive vacancies.
A one (1) story brick building which appears to be vacant lies adjacent to the lot. Overall, the exterior of the building appears to be in poor condition, especially as the facade and brick on the west side of the building are crumbling: The building shows signs of age, obsolescence, depreciation of physical maintenance, deterioration, excessive vacancies, and possible signs of dilapidation, and structurebelow minimum code standards.
A parking lot, with a fence that is showing signs of depreciation of physical maintenance is adjacent to the above building. The sidewalks arid curbs surrounding the area are in poor and depreciating condition.
Following is a two (2) story brick structure in which the first and second floor appear to be occupied, and which shows signs of exterior depreciation. Adjacent to the building is a paved parking lot in poor condition surrounded by a fence. On the day of viewing there were cars parked on the lot and debris dumped in the alley. Immediately following is a fenced unpaved .parkinglot,^___'........
The block also contains the Calvary Rescue Army Mission, which is a three (3) story brick building with an empty lot located just east of the building. The exterior of the building is in poor condition. The facade is in need of tuckpointing, and the sidewalks and curbs are in poor condition. The building shows possible signs of age, obsolescence, depreciation of physical maintenance, deleterious land-uses or layout, deterioration, and possibly, structures below minimum code standards.
The empty lot immediately following is for sale and is overgrown with vegetation and strewn with debris. The lot shows signs of depreciation of
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physical maintenance, excessive vacancies, and deleterious land-uses or layout.
Adjacent to the lot is a commercial building which shows some minor signs of depreciation, as well as possible signs of age, obsolescence, and deleterious land-uses or layout (e.g., inadequate parking or loading facilities). .
On the west side of the block is a two (2) story industrial loft, in average to poor condition. Adjacent to it is a multi-story building with a garage, with characteristics of functional or economic obsolescence. The doors and windows appear to be in heed of repair. The lot to the south is filled with debris. These parcels appear to show signs of age, obsolescence, depreciation of physical maintenance, excessive vacancies, deleterious land uses or layout, and excessive land coverage.
A majority of the block contains the following factors; age, obsolescence, depreciation of physical maintenance and deleterious land-uses or layout.
Block Number 437.
A studio/production complex occupies a significant portion of the block. The Washington Street side exposes facade which is cracked and peeling. The east side of the building also exposes peeling facade, as well as peeling window trim and the window frames that require maintenance. The back portion (facing the alley) requires tuckpointing. The west side of the building has peeling paint and cracked facade. The structure as a whole shows signs of age, obsolescence, depreciation of physical maintenance, possible deterioration, deleterious land uses or layout and excessive land coverage.
A restaurant at the north end of the block shows signs of depreciation near the roof. The lot/yard adjacent is cluttered; both the structure and lot show possible signs of obsolescence, depreciation of physical maintenance and' excessive land coverage.
A four (4) story brick loft is also located at the north end of the block, evidencing characteristics of obsolescence and showing some minor depTecialion^on''"the"exterior:~Other possible facto uses or layout, excessive land coverage.
Overall, a majority of the block seems to contain, age, obsolescence, depreciation of physical maintenance, and deleterious land use or layout.
Block Number 436.
The block contains a six (6) story brick building which needs window repair and treatments due to depreciation near frames and sills. There may
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
be vacancies on the top floors. The water tank on the top floor needs work. Adjacent to the building is a vacant parking lot which needs paving. Sidewalks surrounding the lot and near the building are cracked.
Also, within the block is a parking lot exhibiting minor depreciation and overgrown vegetation at the sidewalks. The sidewalks themselves are in poor condition with numerous cracks, holes and litter near the curb. The west side of the lot contains a raised area and much sloping.
Following is an occupied studio building, a three (3) story gray brick building, which shows some depreciation of the south wall and has only one (1) loading dock. The stairs are also in poor condition and need painting. The sidewalks around the building are cracked and the alleys are brick. Adjacent to the building is a paved parking lot which requires additional work to be functional as there is a collapsed sidewalk at the north end. The alley is in poor condition, and there is no curb.
Adjacent to the above building is a two (2) story brick building showing signs of peeling paint and graffiti at the east wall. The sidewalks are cracked and in poor condition. The building appears occupied, but a problem seems to exist with loading in the alleys, since alleys are in poor shape and are narrow.
Immediately following are two (2) buildings; one is a two (2) story the other a three (3) story. There is a problem with loading space. The two (2) story building is in poor condition. The three (3) story building has a brick facade, and needs additional work.
The next building on the block is a two (2) story apartment building with newer looking stucco facade that seems to be cracked near the roof. The north wall contains painted bricks of which some are peeling. The alley contains trash and a large number of old pallets. There seems to be a problem with loading and access to the alley.
Following the above, is a one (1) story building in average condition. The entry door needs painting. Next is an auto care facility, which is a one (1) ^tory brick gaurage with an overhead door in poor shape. The driveway and sidewalks are cracked~,"with carsplffked"^ -disrepair.
The following building is a three (3) story former fire station. The brick needs tuckpointing, and facade improvement and doors are in need of repair. There appear to be possible mixed uses on the upper floors.
A majority of the block shows signs of age, obsolescence, depreciation of physical maintenance and inadequate utilities.
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[(Sub)Exhibit "A" and Property Boundary Map referred to in this Attachment 1 printed on pages 23257 and 23258 of this Journal.]
Legal Description referred to in this Attachment 1 reads as follows:
Legal Description. (To Attachment 1)
Beginning at the southeast corner of West Madison Street and South Green Street; thence southerly to the southeast corner of South Green Street and West Monroe Street; thence westerly to a southwest corner, of South Sangamon Street and West Monroe Street; thence northerly to the southwest corner of West Madison Street and South Sangamon Street; thence westerly to the southeastern corner of West Madison Street: and; South Morgan Street; thence southerly to the southeast corner of South Morgan Street and West Monroe Street; thence westerly to the southwest corner of South Aberdeen Street and West Monroe Street; thence northerly to the southwest corner of West Madison Street and South Aberdeen Street; thence westerly to a point in the west line, produced south of North May Street; thence northerly to the northwest corner of West Randolph Street. and North May Street; thence easterly to the northeast corner of West Randolph Street and North Carpenter Street; thence southerly to the northeast corner of North Carpenter Street and West Washington Boulevard; thence easterly to the northeast corner of North Peoria Street and West Washington Boulevard; thence southerly to the northeast corner of West Madison Street and North Peoria Street; thence easterly to the northeast corner of West Madison Street and North Green Street; thence southerly to the point of beginning.
This area includes: >
Block 17-08-448 of which a part is a part of S.F. Gale's Subdivision of Block 52_of Carpenter's Addition to Chicago (recorded February 29, 18727Dbcunient*Nurnb^f "15649) (whichsaid-Garpenter~s Addition is a -subdivision of the southeast quarter of Section 8-39-14 recorded August 31,1836); and of which a part is also a part of William Hale Thompson's Subdivision of Lots 17 to 26, inclusive, in S.F. Gale's Subdivision of Block 52 of Carpenter's Addition to Chicago (recorded July 21, 1890, Document Number 1306568) (which said Carpenter's Addition is a~ subdivision of the southeast quarter of Section 8-39-14 recorded August : 31,1836).
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
Also
Block 17-08-447 of which part is a part of Block 51 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836 (Ante-Fire)); and of which a part is also a part of Assessor's Second Division of the east half of Lot 3, all of Lots 1, 2,7, 8,11,12,15,16,17 and 18 of Block 51 of Carpenter's Addition to Chicago (recorded November 29, 1872, Document Number 71687, rerecorded October 1, 1875, Document Number 51466); and of which a part is also a part of H. C. Van Schaak's Subdivision of Lot 7 (except the north 20 feet) and Lot 8 (except the south 20 feet) in Block 51 of Carpenter's Addition to Chicago (recorded October 27, 1885. Document Number 664546).
Also
Block 17-08-446 of which a part is a part of Block 50 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836 (Ante-Fire)); and of which a part is a part of Assessor's Division of Lots 1 to 9 in Block 50 of Carpenter's Addition to Chicago (recorded July 30,1859 (Ante-Fire)).
Also
Block 17-08-437 which is a part of Block 42 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836 (Ante-Fire)).
Also
Block 17-08-436 which is a part of William J. Bunker's Subdivision of Block 43 of"Carpe^tef's"~Addition: to~Chicago "(recorded ^uly~l~±848~ (Ante-Fire)) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836 (Ante-Fire)).
Also
Block 17-08-444 of which a part is a part of resubdivision of Block 48 of Carpenter's Addition to Chicago (recorded February 17, 1847 (Ante-
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Fire)) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836); and which a part is a part of C. W. Cook's Subdivision of Lots 1 to 5 of Block 48 of Carpenter's Addition to Chicago (Ante-Fire), (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836). .
Also
Block 17-08-445 of which a part is a part of Block 49 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836 (Ante-Fire)); and of which a part is a part of the subdivision of the west 100 feet of Lot 6 of Block 49 of Carpenter's Addition to Chicago (recorded September 13, 1875, Document Number 48790). .
Also
Block 17-17-208 of which a part is a part of Block 2 of Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of Section 17-39-14 (Ante-Fire).
Also
Block 17-17-207 which is a part of Block 3 of Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of Section 17-39-14 (Ante-Fire); and of which a part is a subdivision of Lots 15 and 16 of Block 3 of Duncan's Addition to Chicago (Ante-Fire).
Also
Block 17-17-203 which is a part of the subdivision of Block 1 of Canal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire))(which said Canal Trustee's Subdivision is a subdivision of the west half and. the west half of the northeast quarter of Section 17-39-14 (recorded August 31,1848 (Ante-Fire)); and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14 (recorded April 29, 1836 (Ante-Fire)).
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JOURNAL--CITY COUNCIL-CHICAGO 6/10/96
Also'
Block 17-17-204 of which a part is a part of the subdivision of Block 1 of Canal Trustee's Subdivision, and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section 17-39-14; and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14); and of which a part is also a part of the subdivision of the interior part of Block 1 of Canal Trustee's Subdivision (recorded April 8,1857 (Ante-Fire)); and of which a part is also a part of Holden's Plat of parts of Block 5 of Duncan's Addition and part of Block 1 of Canal Trustee's Subdivision (Ante-Fire).
Also
Block 17-17-205 of which a part is a part of the subdivision of Block 1 of Canal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section I7r39-14 (recorded August 31, 1848 (Ante-Fire)), and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14 (recorded April 29, 1836 (Ante-fire)); and of which a part is a part of C.C.P. Holden's Resubdivision of Lots 33, 34 and 35 of Block 1 of Canal Trustee's Subdivision (Ante-Fire).
Attachment 2.
(To Near West Redevelopment Project Area Plan And Project)
City Of. Chicago, : . : Illinois--------------------
Tax Increment Redevelopment Area (T.I.F.) Madison-Racine T.I.F. Redevelopment Plan And Project
January, 1989
(Continued on page 23259)
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(Sub)Exhibit "A". (To Attachment 1)
dual I f Icol Ion
r»clor 137 444 44.
*<: tl ri M
Obaoleaccnca h Mm
Depreclel Ion of
Ph»»!c«t Maintenance Hod M II
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Exccaaive Vacenclea M Hod Mln
lnoden.uate Utilities Hod rl :-t
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or Layout Hod Mln Hin
.Exceaalve Land Covcraao H Hln H
Lncli oT Ventilation, I.lain,
or Ssnllarr Facilities u St:
Lack of CoKaunltr Plotinliia Mln Mln M
EVIPENCE OF OliU.lt ICATIOS MCTOns tulerpriac Park TIF lllatrlct - TIF Olatrlct Co'. I Block Block Block Block Bln.h Olock Block Block Hltlck Block Oluck
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uvercroi.-dlna of Struclurea and Coaaunltv Facilities
Structures Below Mlnlnun Code SianUarda
Ulesal U»e
Min Hln
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Mod
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M - = present to a aalnr psl«nl
Hod = preaent to a Boderate extent
Mln = present to a atnor extent
H = non-eKlatent
23258
JOURNAL-CITY COUNCIL-CHICAGO Property Boundary Map.
6/10/96
6/10/96
REPORTS OF COMMITTEES.
23259
(Continued from page 23256)
Introduction And Background.
Background. -
The City of Chicago (the "City") Near West Side commercial area (and particularly what is known as the Madison-Racine Commercial District) has been significantly blighted since the. early 1970's. The Madison-Racine Commercial District is generally bounded on the north by West Lake Street, on the east by the John F. Kennedy Expressway, on the south by West Monroe Street, and West Madison Street, and on the west by North Ogden Avenue. The Madison-Racine area was determined to be a slum and blighted area by the Department of Urban Renewal pursuant to Resolution No. 76DUR68 on May 25, 1976. The Chicago City Council approved the designation of slum and blighted on June 22,1976. The redevelopment plan for the area was adopted by the Chicago City Council on October 24, 1979. In December of 1980, the Commercial District Commission of the City of Chicago designated the Madison-Racine Project as a blighted area in need of commercial development. Factors contributing to the decline^ of, this originally strong industrial and manufacturing district include the construction of the Dan Ryan Expressway, changing United States retail shopping patterns, and the increased burden of lower income residents relocated into the areas due to urban renewal projects on the Loop's west
From 1970 to 1985, the Near West Side experienced an estimated loss of approximately twenty-five thousand three hundred twenty-three (25,323) individuals, accounting for a thirty-two percent (32%) total loss. This loss in population ranks eighth (8th) highest of the seventy-seven (77) city community areas. Additionally, this loss occurred during a time when the City was experiencing an overall population gain.
TKeT980~CensuTmedi^^ West Side area-at
Seven Thousand Five Hundred Thirty-four Dollars ($7,534) and S.M.S.A. at Twenty-four Thousand Five Hundred Thirty-six Dollars ($24,536). These figures indicate an outstanding disparity between residents of the Near West Side and the rest of the metropolitan area.
Approximately fifty-two percent (52%) of those residents living on" the Near West Side have incomes below poverty level. Additionally, forty-eight percent (48%) of the families are at or below poverty level. In 1980, the unemployment rate was at nineteen percent (19%), and City sources suggest this rate may have decreased only slightly by 1988.
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
The City has made efforts through various programs to clear many of the deteriorated and substandard buildings from the area since 1977. There are blocks of dilapidated housing and manufacturing buildings, as well as many unkempt vacant lots that still exist. A survey of the Madison-Racine district, taken in 1976, described over ninety percent (90%) of the buildings as being of a dilapidated or deteriorated nature; the majority of these structures were non-residential. ' "
Industrial and business growth in the area has been stifled, largely because demand for industrial space in the City has been replaced by the need for single-story buildings not found in this district. Meanwhile, there has been a surge in Loop office construction which provides significant office support potential for facilities located near the Loop.
The City intends to address comprehensive growth within the Madison-Racine area through the destination of a Redevelopment Project Area (the ttR.P.A."). Conditions within the R.P.A. need to be improved in order to attract and encourage significant private investment.
The R.P.A. is generally described as follows:
The northern boundary of the R.P.A. is West Washington and West Randolph Street (along the 1000 and 1100 blocks of West Washington); the southern boundary is generally West Monroe Street and West Madison Street; the eastern boundary is South Green Street and North Peoria Street; and the western boundary is South Aberdeen Street and North May Street.
Current uses are mixed-industrial, commercial/service, retail/wholesale, residential, single-room occupancy uses, and parking/storage lots. A number of vacant lots are also interspersed with the uses described above.
The Redevelopment Project Area ("R.P.A.") is part of the larger Madison-Racine Project Area. As described previously, the larger Areaas. designated a number of years agosuffered from the presence of older, obsolete structures. Most of these structures were in very poor condition as ^_ described in the designation report. The area within the R.P.A. as well as near the R.P.A. was^ ^g¥t^ "for~a~MOre "intensive acquisi City (in comparison to the rest of the Madison-Racine Project Area).
Since 1979, a number of parcels within the vicinity of the R.P.A. have been acquired by the City. Reference to the 1979 acquisition map indicates that a number of structures have since been razed. The construction of the Motorola facility (not located within the R.P.A.), the Federal Express facility, and the rehab of the building housing Social Security offices attest to the importance of City of Chicago efforts to date. However, the examples above illustrate separate projects that were not coordinated with one
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another. The newer projects, as well as removal of structures, has served to remove some conditions of blight within the area.
The site survey as well as the review of uses within the R.P.A. indicates that problems still exist. Due to the fact that more recent City and private sector activity has been undertaken, some of the blighted conditions may have been mitigated. However, the need for a coordinated series of public improvements and assistance in combination with private investment of considerable size and scope is required to stem blighting conditions, bringing the area as a whole back to productive reuse. Based upon site surveys as well as other available information, the R.P.A. was qualified as a conservation area on an area-wide basis. The age of the structures, the presence of obsolescence, depreciation of physical maintenance, inadequate utilities (overall condition of sidewalks, curbs, and streets) deleterious land-use and layout, were present to a major extent in the R.P.A All blocks within the area indicate the presence of some conservation qualification factors. In addition to the factors described above, deterioration, excessive vacancies, existence of structures below minimum code, and excessive land coverage are also present in some of the blocks. Certain individual blocks possessed conditions that characterized those blocks as blighted, as such term is defined and used in the Act; such blighted conditions were not characteristic of the area as a whole.
The City's Role In Redevelopment.
The City plans to encourage comprehensive redevelopment of the R.P.A In order to accomplish such redevelopment, the City has undertaken the designation of the R.P.A. and begun to explore methods of providing the necessary public improvements within the R.P.A Public assistance is required to promote redevelopment due to the lack of strong marketplace momentum. Marketplace perception relating to the condition of the R.P.A. and/or lack of amenities serves to limit potential and competitive development of property within the R.P.A The City plans on demonstrating a positive marketplace signal through the sustained redevelopment of the RJ\A. including the possible clearing of substandard and obsolete structures, the possible assembly of land into appropriate and ^feasible development packages, and the possible disposition of such packages to developmental-entitiesr Currently, redevelopment activity has been limited within the immediate area - sufficient density of new development-and redevelopment is required in order to generate significant interest within the area while attracting and promoting quality industrial and commercial uses. The scope of existing redevelopment needs to be addressed by the City. It is important to future tenants/owners of property within the R.P.A. and the Near West Side community area that the marketplace perceives the property favorably. Projects must be of sufficient scope and quality that attracts investor and marketplace confidence.
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JOURNAL-CrTY COUNCIL- CHICAGO 6/10/96
The R.P.A. as constituted would be difficult to develop solely through investment by private enterprise. It is not reasonable to anticipate substantial reuse of sites within the R.P.A. without the adoption of a redevelopment plan that addresses the characteristics of the properties and recent market trends, while providing a practical method for financing the redevelopment project. The City has prepared this redevelopment plan to address its needs and meet its redevelopment goals and objectives relating to the R.P. A. through the use of tax increment financing.
The City recognizes the need for implementation of various strategies to overcome existing area conditions and lack of competitiveness with out-of-City (suburban) locations. The needed public investment will be possible only if tax increment financing is adopted pursuant to the terms of the Tax Increment Allocation Redevelopment Act, Illinois Rev. Stat., Section 11-74.4-3 (the "Act"). Incremental real estate tax revenue generated by the R.P.A. will play a decisive role in encouraging private development.
Existing site conditions that have precluded intensive private investment in the past will be eliminated. Through this Redevelopment Plan and Project, the City will serve as the central force for marshalling the assets and energies of the private sector for a unified cooperative public-private redevelopment effort. Ultimately, the implementation of the Redevelopment Plan and Project will benefit the City and all the taxing districts which are included in the R.P.A. in the form of a significant expansion of the real estate tax base and employment base. The Redevelopment Plan and Project will serve to create new jobs within the City and thereby reduce unemployment within taxing districts which cover all or part of the R.P.A
The R.P.A. has not been subject to comprehensive redevelopment through investment by private enterprise and it is not reasonably anticipated to be developed in a comprehensive manner without the adoption of a Redevelopment Plan and Project. The City has prepared this Redevelopment Plan and Project to use tax increment financing in order to address its needs and meet its redevelopment goals and objectives.
In November, 1988, the City of Chicago's Commercial District -CommissionjidopJ_ejij_ resolution authorizing a feasibility study to use Tax Increment Financing ("T.'LF.'Tfor the"redevelopment-of-the-areaJegally._ described herein in (Sub)Exhibit 1 and outlined on the map in (Sub)Exhibit 2. Redevelopment of the T.I.F. area is tenable only if a portion of the public improvements is funded by T.I.F
The adoption of this Redevelopment Plan and Project makes possible the implementation of a comprehensive program for the economic redevelopment of the proposed R.P.A By means of public investment, the R.P.A. will become an improved, more viable environment that will attract private investment. The public investment will set the stage for the redevelopment of the area with private capital.
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Pursuant to the requirements of the Act, the R.P.A. includes only those contiguous parcels of real property and improvements thereon which are substantially benefited by the Redevelopment Plan and Project. Also in accordance with the Act, the R.P.A. is not less than one and one-half (H) acres in the aggregate.
Redevelopment Plan Development And Employment Projections.
The City will encourage and consider proposals for facilities and structures of all types and character provided that such proposals meet the zoning classification (as revised from time to time) and are consistent with other City ordinances and overall goals.
The City is open to the type and class of employees that are reasonably employed by the type and character of facilities that it ultimately approves. Based on the estimated timing and absorption ((Sub)Exhibit 6) of this plan, the City anticipates that approximately five hundred fifty (550) new employees will be employed within the R.P.A. after completion of the first phase of redevelopment. First source hiring policies will be favored as well as conformance to City D.E.O. and A.A. policies. Relevant City, state and federal job training programs will be utilized as appropriate to facilitate the employment and training of community residents to the fullest extent practicable.
The development team is anticipated to consist of experienced developers, and the appropriate support professionals such as leasing brokers, architects and general contractors. The City expects to develop the R.P.A. in a sustained, consistent manner. The private team will work with the City to ensure that appropriate, beneficial development occurs that is in conformance with market-driven realities.
Anticipated users include, but are not limited to, support services and commercial uses that complement nearby Loop uses; light industrial and/or distribution facilities may also be considered. Currently, many of these potential users have favored-outrof-CityJp.cations. The R.RA'.s proximity to the Loop and transportation advantages have"bee^-o~vershadowed-'by-negative marketplace perception, with respect to both physical surroundings and in-City economic disincentives. Facilities are anticipated to be modern, quality structures that will serve the needs of tenants/users in an efficient, cost effective manner that is in conformance with the economic development goals, objectives and ordinances of the City.
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
Redevelopment Project Area Legal Description. Legal description is included in (Sub)Exhibit 1.
III.
Conservation Area Conditions Existing In The Redevelopment Project Area.
Findings.
The Redevelopment Project Area was studied to determine its qualifications as a "Conservation Area" as such term is defined in the Act. A description of the qualification factors is found in (Sub)Exhibit 5. In summary, the following factors were found with the R.P.A.: age, obsolescence, depreciation of physical maintenance, inadequate utilities, deleterious land-use or layout, lack of community planning, deterioration, excessive vacancies, and structures below minimum code standards. Certain individual blocks were found to possess conditions that would qualify such blocks as "blighted", as that term is defined and used in the Act. Conclusions in this report are based on conditions in the area as a whole, but might be reaggregated to define "blighted" and "conservation" areas within the R.P.A
Eligibility Survey.
The entire designated Redevelopment Project Area was evaluated by the City and Kane, McKenna and Associates, Inc. in November and December, 1988.
TV.
Redevelopment Project Area Goals And Objectives.
The following goals and objectives are presented for the R.P.A. in accordance with the City's zoning ordinance and comprehensive plan. The Redevelopment Plan and Project also conform to the Madison-Racine Redevelopment Plan for the development of the area as a whole.
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General Goals of the Redevelopment Plan.
1) Provide jobs for community and City residents in accordance with the City's Affirmative Action goals;
2) strengthen the existing business community within the area;
3) remove obsolete and substandard structures which exert a blighting influence on the community;
4) retain and upgrade sound buildings compatible with the redevelopment plan;
5) provide adequate off-street parking, loading facilities and open space designed to enhance the community;
6) provide for the vacating of unnecessary streets and alleys to improve traffic flow and safety; and
7) provide open, attractive and safe public areas to enhance access to and confidence in the general area. rl,
■ "■ ;'-r-'-:/.:V.;V-'r<V':-- -'J-.-\
These goals are complementary to the enterprise zone concept and the City's Madison-Racine Project Plan. J ^
Specific Goals of the Redevelopment Plan.
1) create new job opportunities for community residents and City residents utilizing first source hiring programs and appropriate
, job training programs;
2) complement the growth and maintain the momentum of development to the north and south of the Loop;
3) stimulate economic revitalization of the neighborhoods west of the __Dan Ryan Expressway;
4) attract new businesses and/or rehabilitate stock of existing commercial structures;
5) increase the number of public/private development partnerships;
6) 'preserve and expand the tax base; and
7) ensure the presence of skilled technical support businesses for the downtown office population.
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
Redevelopment Objectives.
The Redevelopment Projects are to create a sense of place, to attract other developers and similar businesses, as well as to improve the circulation, access and security through common improvements. Projects must be of sufficient size so that the project will not be overwhelmed by the poverty and decay that is adjacent to the site, but rather will create an area where security and economic vitality are enhanced. Projects need to discontinue the sporadic development of the area, and encourage more planned area developments so as to reduce the depressed conditions currently existing throughout the district. These depressed conditions have, in many cases, contributed to the failure of fully realizing the potential real estate taxes in the area as well as contributing to an absolute decline in overall property assessments. It is firmly believed that underutilization of the land within the Madison-Racine Commercial District and the R.P.A. has resulted in a significant reduction in potential property taxes for the City, overall.
It is intended that underutilized properties will be developed and put to current market uses, including space for high technology services of businesses and offices in the downtown area. The anticipated tenants will be compatible with existing industrial and commercial facilities. The Van Buren and Jackson Corridor has recently experienced rehabilitation of numerous buildings for commercial/office uses (particularly loft redevelopment uses).
The purpose of the R.P.A. designation will allow the City to:
a) coordinate redevelopment activities within an important core area in order to provide a positive marketplace signal;
b) reduce or eliminate conservation area factors present within the area; and
c) accomplish redevelopment over a reasonable time period.
The Redevelopment Project's implementation will continue to improve the physicalXpp^earan
the economic development of the area, arresting decline and stabilizing the Near West Side Commercial Area. The Redevelopement of the R.P.A. will serve as a catalyst and as an essential anchor for the overall area. Job creation associated with the project will provide new, improved employment opportunities for community and City residents, including an employment program that allows for the use of the City's First Source Hiring program.
One central concern for the R.P.A.'s viability is its ability to compete with suburban and collar county facilities. Commercial rental rates and real estate taxes in the Loop have grown significantly in recent years. Thus,
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many firms have elected to relocate to areas further away from the Central Business District, where the overall rental and tax rates may be lower. Public assistance is required to ensure adequate redevelopment and address disparities in locations.
The R.P.A. has the advantage of providing quick access to the City's Central Loop (the-R.P.A. is located approximately one (1) mile from the center of the City's Loop) and related means of transportation are advantageous in competing with suburban developments. On-site parking and less congested streets, as well as the 'old town' amenities near the R.P.A. are additional characteristics that could be utilized to entice business to the in-city location. However, coordinated redevelopment is necessary to address an efficient and an economic approach, evidencing planning with respect to uses, access / egress and competitive amenities.
The City's nearby central core area is experiencing tremendous commercial growth, particularly in the financial markets, at rental rates competitive with projects located outside of Cook County. While the commercial growth provides significant office facilities for certain types of industries, there is a lack of appropriate space for businesses that serve the financial, banking, real estate and investment industries. The R.P.A.'s redevelopment will also address such support uses as well as other uses including light industrial.
A. City Redevelopment Plan And Project Objectives.
The City proposes to realize its goals and objectives of encouraging development of the Redevelopment Project Area through public finance techniques including, but not limited to, Tax Increment Financing:
(1) By reducing interest costs of a redeveloper related to the cdnstrllctidn^
projects.
(2) Acquisition and assembly of property.
(3) By providing public facilities which may include:
V.
Redevelopment Project.
i)
utility improvements and expansion (including curbs and sidewalks);
ii)
street improvements and expansion;
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JOURNAL-CrTY COUNCIL-CHICAGO 6/10/96
iii) traffic signalization andintersection improvements; and
iv) landscaping and signs on public ways.
(4) By providing for demolition, site preparation, clearance and grading of redevelopment sites, as well as appropriate relocation.
(5) Exploration and review of job training programs in coordination with City, federal, state and county programs.
B. General Land-Use Plan.
Existing land-use consists of about twelve (12) City blocks as described in (Sub)Exhibit 3. A number of different uses (commercial, industrial and mixed use) exist within the RJP.A (Sub)Exhibit 4 attached hereto and made a part of this plan, designates intended general land-uses in the R.P.A The proposed land-uses will conform to the City's Comprehensive Plan and the Madison-Racine Project Plan.
All redevelopment projects shall be subject to the provisions of the City Zoning Ordinance, as well as Planned Unit Development provisions, as may be amended from time to time.
C. Redevelopment Program.
Pursuant to the foregoing objectives, the City will implement a coordinated program of actions to facilitate redevelopment, including, but not limited to, acquisition and assembly, provision of interest rate writedown, public improvements, demolition and/or clearance, relocation and job training assistance.
Interest R^
The City may enter into an agreement with developers whereby a portion of the interest cost of a construction, renovation or rehabilitation project is paid for on an annual basis out of the Special Tax Allocation Fund of the R.P.A., in accordance with the Act.
Public Improvements.
The City may provide public improvements in the R.P.A. to enhance the R.P.A. as a whole, to support the Redevelopment Plan and Project, and to
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23269
serve the needs of City and. area residents. Appropriate public improvements may include, but are not limited to:
new construction and improvements of streets, alleys, curbs, sidewalks/pedestrian ways and street intersections;
improvement and extension of public utilities;
landscaping/beautification, lighting, and signage of public properties; and
traffic signalization.
Acquisition.
Property may be acquired by the City in order to further objectives of this Plan and enhance development alternatives for appropriate users.
Clearance of existing structures on properties to be acquired will, to the greatest extent possible, be scheduled to coincide with redevelopment activities so that parcels do not remain vacant for extended periods of time and so that the adverse effects of clearance activities may be minimized.
Property, when acquired, may be made available for temporary public or private revenue producing uses which will not have adverse impacts on the redevelopment area, until such time as they are needed for planned development. Such revenues, if any, would accrue to the special tax allocation fund for the redevelopment project.
Land Disposition.
Property may be acquired by the City and may be assembled into appropriate redevelopment sites. These properties may be sold or leased by the City to a private developer or developers, in whole or in part, for redevelopment subject to the invitation for proposal requirements of the Act.
Termsof~conWy^^ agreements, and may include more specific restrictions than contained in this Redevelopment Plan or in other City codes and ordinances governing the use of land.
Demolition And Site Preparation.
As determined by the type of use and market considerations, a portion or all of the existing structures may be demolished. Demolition may include removal of asbestos insulation conformant with all environmental
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
requirements. Should a portion of a facility be adapted for more market oriented uses, asbestos insulation may have to be removed as part of site preparation in order to accommodate development. Again, all removal would conform to environmental requirements. Other site preparation for reuse would also conform to appropriate environmental and other governmental regulations.
Relocation.
The City or the developer may provide for relocation conformant with its policies and regulations in order to accomplish the goals and objectives of the Plan, using federal, state or municipal criteria.
Job Training.
The City may assist facilities located within the R.P.A. in obtaining job training assistance. Job training and retraining programs currently available from or through other governments include, but are not limited to:
The federal Jobs Partnership Training Act (J.P.T.A.) programs administered by the City of Chicago's Mayor's Office of Employment Training; . .
- The State of Illinois High Impact Training Support (H.I.T.S.) program;
Applicable local vocational educational programs;
- The State of Illinois IndustrialTraining Program (I.T.P.);
Other federal, state, county or non-profit programs that are currently available or will be developed and initiated over time.
D. Estimated Redevelopment Project Costs - Phases 1 And 2.
Redeve^ all-reasonable or necessary costs incurred or estimated to be incurred, and any such costs incidental to this Redevelopment Plan and Project. Eligible costs permitted by the Act pertinent to this Redevelopment Plan and Project are:
1. costs of studies and surveys, development of plans and specifications, implementation and administration of the redevelopment plan, including, but not limited to, staff and professional service costs for architectural, engineering, legal, marketing, financial, planning or other services, provided,
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however, that no charges for professional services may be based on a percentage of the tax increment collected;
2. property assembly costs, including, but not limited to, acquisition of land and other property, real or persona'ly or rights or interests therein, demolition of buildings, and the clearing and grading of land;
3. costs of the construction of public works or improvements;
4. costs of job training and retraining projects;
5. financing costs, including, but not limited to, all necessary and incidental expenses related to the issuance of obligations and which may include payment of interest on any obligations issued hereunder accruing during the estimated period of construction of any redevelopment project for which such obligations are. issued and not exceeding thirty-six (36) months thereafter, including reasonable reserves related thereto;
6. all or a portion of a taxing district's capital costs resulting from the redevelopment project necessarily incurred or to be in furtherance of the objectives of the Redevelopment Plan and Project, to the extent the Village by written agreement accepts and approves such costs; - ti - -
7. relocation costs to the extent that the Village determines that relocation costs shall be paid or is required to make payment of relocation costs by federal or Illinois law; - '
8 payment in lieu of taxes;
9. costs of job training, advanced vocational education or career education, including, but not limited to, courses i n occupational, semi-technical or technical fields leading directly to/ employment, incurred by one or more taxing districts, provided that such costs (i) are related to the establishment and .
_______maintenance^of additional job training, advanced vocational'
educatibn"*orncaTeer"education programs-for persons-employed or to be employed by employers located in the RJP.A.; and (ii) when incurred by a taxing district or taxing districts other than the Village, are set forth in a written agreement by or among, the Village and the taxing district or taxing districts, which agreement describes the program to be undertaken, including, but not limited to, the number of employees to be trained, a description of the training and services to be provided, the number and type of positions available or to be available, itemized costs of the program and sources of funds to pay for the same, and the term of the agreement. Such costs include,
\
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JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
specifically, the payment by community college districts of costs pursuant to Sections 3-37, 3-38, 3-40 and 3-40.1 of the Illinois Public Community College Act and by school districts of costs pursuant to Sections 10-22.20a and 10-23.3a of The Illinois _ School Code;
10. interest costs incurred by a redeveloper related to the construction, renovation or rehabilitation of a redevelopment project provided that:
(aj such costs are to be paid directly from the special tax allocation fund established pursuant to the Act; and
(b) such payments in any one (1) year may not exceed thirty percent (30%) of the annual interest costs incurred by the redeveloper with regard to the redevelopment project during that year; and
(c) if there are not sufficient funds available in the special tax allocation fund to make the payment pursuant to this paragraph 10, then the amounts so due shall accrue and be payable when sufficient funds are available in the special tax allocation fund; and
(d) the total of such interest payments incurred pursuant to the Act may not exceed thirty percent (30%) of the total redevelopment project costs excluding any property assembly costs and any relocation costs incurred pursuant to the Act;
11. if a special service area has been established pursuant to "An Act to Provide the Manner of Levying or Imposing Taxes for the Provision of Special Services to Areas Within the Boundaries of Home Rule Units and Non-home Rule Municipalities and Counties", approved September 21,1973, as amended, then any tax increment revenues derived from the tax imposed pursuant
___to "An Act to Provide the Manner of Levying or Imposing Taxes
~ for theiProvision of Special-Services.to. Are asJWithijaJhe Boundaries of Home Rule Units and Non-home Rule Municipalities and Counties", approved September 21, 1973, as amended, may be used within the R.P.A. for the purposes permitted by that Act as well as the purposes permitted by the Act.
Estimated project costs are shown in Tables la and lb. To the extent that the City has incurred redevelopment project costs prior to, but in anticipation of, the adoption of tax increment financing, the City may be
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23273
reimbursed for such costs. Adjustments to the cost items listed in Tables la and lb are anticipated without amendment to the Redevelopment Plan.
- Table la.
Redevelopment Project ~ Estimated Phase I Project Costs.
Program Action/Improvement Estimated Cost(s)
Interest Cost as Allowed Under Paragraph 11 of Chapter 24, 1' Paragraph 11-74.4-3 of the Act $1,000,000
Acquisition and Assembly 7,000,000
Utility Improvements 250,000
Street Construction and/or Extension 1,000,000
Intersection and Traffic Signalization Improvements 250,000
Streetscape Improvements, Including Landscaping, Signage and Streetlights 250,000
Land Demolition and/or Site Preparation and Clearance 1,000,000
Rehabilitation 250,000
Relocation 250,000
Planning, Legal, Architectural, Engineering, Administrative and Other Professional
ServicTCbsts------------------------------------------1____^5.0£,ftQ0___
Job Training, Retraining and Affirmative
Action Consulting Services 1,500,000
Capitalized Interest (B) 3,500,000
Contingencies 250,000
Estimated Phase I Costs:
$17,000,000
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JOURNAL-CITY COUNCIL-CHICAGO
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All cost estimates are in 1988 dollars. In addition to the above stated costs, each issue of bonds issued to finance a phase of the project may include an amount of proceeds sufficient to pay customary and reasonable charges associated with the issuance of such obligations. Adjustments to the estimated line item costs above are expected. Each individual project cost will be re-evaluated in light of projected private development and resulting incremental tax revenues as it is considered for public financing under the provisions of the Act. The totals of line items set forth above are not intended to place a total limit on the described expenditures. Adjustments may be made in line items within the total, either increasing or decreasing line item costs for redevelopment costs.
All capitalized interest estimates are in 1988 dollars and include current market rates.
Table lb.
Redevelopment Project Estimated Phase II Project Costs.
Program Action/Improvement Estimated Cost(s)
Interest Cost as Allowed Under Paragraph 11 of Chapter 24,
Paragraph 11-74.4-3 of the Act $2,000,000
Acquisition and Assembly 5,500,000
Utility Improvements 250,000
Street Rehabilitation/Construction and/or Extension, Curb and Sidewalk Construction 1,500,000
Intersection and Traffic Signalization
~ "Improvements---------- - - .___-____________:____1250,000
Streetscape Improvements, Including Landscaping, Signage and Streetlights 500,000
Demolition and/or Site Preparation
and Clearance 500,000
Rehabilitation 250,000
Relocation 500,000
(A)
(B)
6/10/96.
REPORTS OF COMMITTEES
23275
Program Action/Improvement
Estimated Cost(s)
Planning, Legal, Architectural, Engineering, Administrative and Other Professional Service Costs
-$ 500,000
Job Training, Retraining and Affirmative Action Consulting Services
Capitalized Interest (B)
3,500,000
1,500,000
Contingencies
250,000
Estimated Phase n Costs:
$17,000,000
TOTAL ESTIMATED PROJECT COSTS:
$34,000,000
(A) All cost estimates are in 1988 dollars. In addition to the above stated costs, each issue of bonds issued to finance a phase of the project may include an amount of proceeds sufficient to pay customary and reasonable charges associated with the issuance of such obligations. Adjustments to the estimated line item costs above are expected. Each individual project cost will be re-evaluated in light of projected private development and resulting incremental tax revenues as it is considered for public financing under the provisions of the Act. The totals of line items set forth above are not intended to place a total limit on the described expenditures. Adjustments may be made in line items within the total, either increasing or decreasing line item costs for redevelopment costs.
(B) All capitalized interest estimates are in 1988 dollars and include current market rates.
E_. Sjmjrces Of Funds To Pay For Redevelopment Project Costs.
Funds necessary to pay for redevelopment project costs are to be derived principally from real property tax incremental revenues and proceeds from any municipal obligations to be retired primarily with tax increment revenues and interest earned on resources available but not immediately needed for the Redevelopment Project.
The tax increment revenues which will be used to pay dept service on the tax increment obligations and to directly pay redevelopment project costs shall be the incremental real property taxes attributable to the increase in
23276
JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
the equalized assessed value of each taxable lot, block, tract oi\ parcel of real property in the R.P A. over and above the initial equalized assessed value of each such lot, etc. in the R.P.A
Other sources of funds which may be used to pay for redevelopment project costs andndebt service on municipal obligations issued to finance project costs are:. the proceeds of real property sales, real property tax receipts, if the obligations are general obligations of the City, certain motor tax revenues, certain land lease payments, certain state and federal grants, certain investment income, and such other sources of funds and revenues as the City may, from time to time, deem appropriate.
The City may use its general fund and utilize its taxing power to sustain redevelopment projects and pay debt service on obligations issued in connection therewith to be reimbursed, if possible, from tax increment financing revenues.
F. Nature And Term Of Obligations To Be Issued.
The City may issue obligations secured by the tax increment special tax allocation fund established for the R.P.A. pursuant to Section 11-74.4-7 of the Act or such other funds or security as are available to the City by virtue of its home rule powers provided by the constitution of the State of Illinois.
All obligations issued by the City pursuant to this Redevelopment Plan and Project and the Act shall not exceed twenty-three (23) years from the
date of adoption of the ordinance approving the R.P.A._- _.
However, the final maturity date of any obligations issued pursuant to the Act may not be later than twenty (20) years from its respective date of issuance. One or more series of obligations may be issued from time to time in order to implement this.Redevelopment Plan and Project. All obligations are to be covered after issuance by projected and actual tax increment, other tax revenue and by such debt service revenues and sinking funds as may be provided by ordinance. The total principal and interest payable in any year on all obligations shall not exceed the amounts available in that year, or projected to be available in that year, from tax increment revenues and from ._bpn4__njkm capitalized interest, debt service reserve funds and all other sources of funds"as^ay be provided-by ordinance.____________■_ _____
Those revenues not required for principal and interest payments, required reserves, bond sinking funds, redevelopment project costs and reserves required to fund such costs, early retirement of outstanding securities, and to facilitate the economical issuance of additional bonds necessary to accomplish the redevelopment plan, may be declared surplus and shall then become available for distribution annually to the State of Illinois and to taxing districts overlapping the R.P.A. in the manner provided by the Act.
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Such securities may be issued on either a taxable or tax-exempt basis, with either fixed interest rates or floating interest rates; with or without capitalized interest; with or without deferred principal retirement; with or without interest rate limits, and with or without redemption provisions.
G« Most Recent Equalized Assessed Valuation Of Properties In The Redevelopment Project Area.
The total 1987 equalized assessed valuation for the R.P.A. is approximately Five Million Eight Hundred Seventy-five Thousand Eight Hundred Ninety-one Dollars ($5,875,891). The Boundary Map, Exhibit 2, shows the location of the R.P.A r~>
H. Anticipated Equalized Assessed Valuation.
Upon completion of the anticipated private development, assuming a Cook County, Illinois equalization factor (multiplier) of 1.8916, it is estimated that the equalized assessed valuation of real property within the R.P.A. will be approximately Twenty-five Million Dollars ($25,000,000).
VL
Description Of Components Of Redevelopment Project
A. Description Of Redevelopment Project.
The City will employ an implementation strategy which stresses economic feasibility whereby tax increment funds will not be initially pledged unless corresponding private investment is reasonably projected to be sufficient to generate equal or greater return of future tax revenues. Such strategy will' contribute to a realistic approach in funding projects while assuring that the City has the flexibility to continue to prioritize among possible projects in meeting both City and private sector goals. The redevelopment projects contemplatedby t&e Gity-m^^
Interest Cost Coverage: The City may pay for certain interest costs incurred by a redeveloper for construction, renovation or rehabilitation of a redevelopment project which shall include costs incurred by a developer pertaining to the redevelopment project. Such funding would be paid for out of annual property tax increment revenue generated from the R.P A. as allowed under the Act.
Utility Improvements: The City may make improvements, extension and adjustment in water, storm sewer, sanitary sewer, electric lighting
23278
JOURNAL-CITY COUNCIL-CHICAGO
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and. other utility systems. New improvements may also consist of construction of a sewage lift station.
Right-of-Way Improvements: The City may improve, construct, reconstruct or extend primary and secondary street right-of-ways and other such territory located on public land, oh private land or through public easement on private land. Curbs and sidewalks may also be improved or reconstructed.
Property Acquisition and Assembly: The City may acquire land within the RJPA. for the purpose of facilitating the assembly and preparation of Property.
Demolition, Site Preparation and Clearance: The City may remove debris and other disposable material from sites and/or grade such sites as part of its redevelopment activities.
Professional Services: The City may use tax increment financing to pay necessary architectural, engineering, planning, legal, removal, administrative and financial costs.Costs of Job Training: The City may implement job training programs.
Relocation: The City may provide for appropriate relocation conformant to its pohcies and regulations.
B. Commitment To Fair Employment Practices And Affirmative Action.
As part of any redevelopment agreement entered into by the City and any private developers, both will agree to establish and implement an honorable, progressive and goal-oriented affirmative action program that serves appropriate sectors of the City. The program will be conformant with the most recent City policies and plans.
With respect to the public/private developments internal operations, both entities will pursue employment practices which provide equal opportunity to all people regardless of sex, color, race or creed. Neither party will countenance discrimination against any employee or applicant because of sexrmarital~statusrnational^^ -handicaps. These noncUscriminatory practices will apply to all areas of employment including: hiring, upgrading and promotions, terminations, compensation, benefit programs and education opportunities.
All those involved with employment activities will be responsible for conformance to this policy and the compliance requirements of applicable state and federal regulations.
The City and private developers will adopt a policy of equal employment opportunity and will include or require the inclusion of this statement in all
6/10/96
REPORTS OF COMMITTEES
23279
contracts and subcontracts at any level. Additionally, any public/private entities will seek to ensure and maintain a working environment free of harassment, intmiidation and coercion at all sites, and in all facilities at which all employees are assigned to work. It shall be specifically ensured that all on-site supervisory personnel are aware of and carry out the obligation to maintain such a working environment, with Specific attention to.minority and/or female individuals.
Finally, the entities will utilize affirmative action to ensure that business opportunities are provided and that job applicants are employed and treated in a nondiscriminatory manner. Underlying this policy is the recognition by the entities that successful affirmative action programs are important to the continued growth and vitality of the community.
VII.
Scheduling Of The Redevelopment Project.
A. Completion Of Redevelopment Project And Retirement Of Obligations To Finance Redevelopment Costs.
This Redevelopment Project will be completed on or before a date twenty-three (23) years from the adoption of an ordinance designating the R.P.A. or
_The City expects that the Redevelopment Project will be
completed sooner than the maximum time limit set by the Act, depending on the incremental real property tax yield. Actual public and/or private construction activities are anticipated to be completed within ten (10) years from the adoption of this Redevelopment Plan.
■ ■ ' \
VIII.
Provisions For Amending The Tax Increment Redevelopment Plan And Project.
This Redevelopment Plan and Project may be amended pursuant to the provisions of the Act.
[(Sub)Exhibit 1 referred to in this Attachment 2 constitutes (Sub)Exhibit "A" to Attachment 1 and printed on pages 23281 through 23283 of this Journal.]
23280
JOURNAL-CITY. COUNCIL-CHICAGO
6/10/96
[(Sub)Exhibits 5 and 6 referred to in this Attachment 2 unavailable at time of printing.]
[(Sub)Exhibit 2 (Boundary Map), (Sub)Exhibit 3 (Existing Land-Use Map) and (Sub)Exhibit 4 (Proposed Land-Use Map) referred to in this Attachment 2 printed on pages 23281 through 23283 of this Journal.]
Exhibit "B". Certificate.
State of Illinois )
)SS: County of Cook )
. I, Darlene Cowan, the duly authorized, qualified and Assistant Secretary of the Community Development Commission of the City of Chicago, and the custodian of the records thereof, dd hereby certify that I have compared the attached copy of a resolution adopted by the Community Development Commission of the City of Chicago at an adjourned regular meeting held on the 29th day of April, 1996, with the original resolution adopted at said meeting and recorded in the minutes of the Commission, and do hereby certify that said copy is a true, correct and complete transcript of said resolution.
Dated this 30th day of April, 1996.
(Signed) Darlene Cowan
Assistant Secretary
6/10/96
REPORTS OF COMMITTEES
23281
(Sub)Exhibit 2. (To Attachment 2)
Boundary Map.
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6/10/96
REPORTS OF COMMITTEES
(Sub)Exkibit 4. (To Attachment 2)
23283
Proposed Land-Use Map.
en
23284
JOURNAL-CITY COUNCIL-CHICAGO
6/10/96
Map 2.
(To Near West Redevelopment Project Area Plan And Project)
Existing Land-Use Map.
30"00000'OCCO£:"C:'0 .OOOOOOOOSSOOOOj
m mmxmsmrr
o o o o o oooo'oo o"o oooooooo d'tfvPb'w^ ooooooooo
"S L. I. !___... Ll LJL. IJI.11I I 11 . I_ ' " . - - I 1. _ I__
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:;::.:;-<rn;-;:w:*::-!lr:n
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REDEVELOPMENT PLAN
MAP 2 EXISTINGLAMCH/SE
COUUn>ClAlj7l£TAlL
INDUSTRIAL
, K£SIB£nn*LAmcg
COta/CRCjAl UTTH ttHOSSAiE BUSINESS/MANUFACTURINC
VARIED USES
RETAIL/COVUErKIAl BUSINESS RESIDCNTIAl
iriXED USES VAKUfAC TUBING WITH mictfSALE t-VL'Zi".".
LOBK SCEKBUR & ASSOQXtS.lM^
6/10/96
REPORTS OF COMMITTEES
23285
Map 3.
(To Near West Redevelopment Project Area Plan And Project)
Proposed Land-Use Map.
23286
JOURNAL-CITY COUNCIL-CHICAGO
6/10/96
Map 4.
(To Near West Redevelopment Project Area Plan And Project)
Property Which May Be Acquired Map
■ir----
t:rr3£E~: 8
"**ir* -----ii--
,-------1,.,.,. .
<frrrff rrrrrrt-r-r--
REDEVEL OPMENT PLAN
■----MAP 4-----------
PROPERTY WHICH MAY BE ACQUIRED
&ASSQqjtres,lNC
6/10/96
REPORTS OP COMMITTEES
23287
Table 2.
(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation. (Page 1 of 9)
CSy of Chicago
Near West - Redevelopment Ptan_
TABLE 2
SUMMARY OF EQUALIZED ASSESSED VALUATION
17-06-437-005 17-0*437-006 17-0*437-007 17-08-437-008 17-08-437-009 17-08-437.010 17-08-437.011 17-08-437-012 17-08-437-015 17-0*437-016
17-080444)01 17-08444-002 17-08-444-003 17-0*444-004 -I7-08!444t005_ 17-08 444 006 17-08-444-007 17-08-444-008 17-08-444409 17-08-444*10 17-08-4441-011 17-08444-012 17-0*444-013 17-08-444414 17-08-444-015 17-08-444-016 17-08444-017 17-03-444-018 17-0*444-019 17-08-444420 17-08-444-021 17-08-444-022 17-08-444-023
Original project Area
15537
$5537
$5537
$48,442
$6,865
S40.327
$8,136
1467.863
S38.399
116.741
116.741
$36,954
$17,096
$9248
$10,188
$8,141
18.370
$8,976
153.050
$92278
139.894
166.565
110,164
114.560
123.015
1156.441
1128320
1116.201
exempt
113.691
159.716 148.249 14.432 13.723 $22555 ~$7.767'~ " 17.767 17.767 17.767
131.898
16.925
1146.357
119.149
15.610
15.989
S5.576
15.548
$32,413
112227
14.432
14.432
$4,432
Amended Entire
Project Area EraiectAre?
15.537
15537
15537
148.442
16.865
$40327
$8,136
1467.863
138399
$16,741
$16,741
$36,954
$17,096
$9248
$10,188
$8,141
$8,970
$8576
$53,050
$32278
139.B94
$66565
$10,164
$14560
$23,015
$156,441
$128,320
$116201
exempt
$13591
$59,716
$48249
$4,432
$3,723
$22555
-17.767_.
$7,767
$7,767
$7,767
exempt
$31,898
$8,325 '
$146357
$19,149
$5,610
$5,989
$5,576.
$5,548
$32,413
$12227
$4,432
$4,432
$4,432
Louik/Scfineider & Associates. Inc.
23288
JOURNAL-CITY COUNCIL-CHICAGO
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Table 2. -(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation.
(Page 2 of 9) -
City of Chicago
Near West - Redevelopment P1an_
174*444424 174*444425 1748-444427 17-O8-444-02S
174*445-007 17-08-445410 174*445411 1748445412 174*445413 174*445414 174*445415 174*445416 1748-44S017 174*445418 1748-445419 174*445420 174*445421 174*445422 174*445423 174*445424
174*446401 174*446404 174*446405 174*446406 174*446407 174*446408 174*446409 174*446410 174*446411 1748-446412 174*446413 174*446414 174*446415
174*447402 174*447403 174*447404 174*447408 174*447409 174*447410 174*447411 174*447412 174*447413 174*447414 -174*447415-174*447416 174*447417 174*447418 174*447419 174*447420 174*447421 174*447422
174*448401 174*44*002 174*448403 174*448404
17-17-203401 17-17-203402 17-17-203403 17-17-203404
$4,432 136,037 $13,710 $11321
$35299 S4.1B2 $72373 ' $67309 ' $18,765 $3,121 $42,502 $32204 ' $39,300 $17210 $13,797 $13,621 $13,945 $2,627 $11259 $85,143
$523,814
$13,705
$10,396
$4,721
$14,876
$17,319
$34,081
$16203
$42597
$84,867
$86232
$19,926
$282,433
$4,657
$2381
$8,329
$3,641
$132,607
$112,128
$2,658
$4,432
$3,545
$3,545 -$6.027~
$6238
$5,885
$3,119
$16,521
$9362 ■ $109,607
$33,735
$182,615 $63,529 $111,892 $53,608
exempt eiemjM $30,502 $34533
$4,432 $36,097 $13,710 $11321
$35299 '
$4,182
$72373
$67309
$18,765
$3,121
$42502
$32204
$33300
$17210
$13,797
$13J621
$13545
$2527
$11259
$85,143
$523314 $13,705 $10396 $4,721 . $14576 $17319 $34,081 $16203 $42597 $84,867 ' $86232 ' $19,926 $282,433'
$4,657
$2,881
$8329
$3,641
$132507
$112,128
$2,658
$4,432
$3545 .
$3545
-$6,027---
$6238
$5,685
$3,119
$16,521 -
S9362
$109,607
$33,735
$182515 $63529 $111,892 $53,608
exempt exempt $30502 SM533
Louik/Schneider & Associates, Inc.
6/10/96
REPORTS OF COMJYnTTEES
23289
Table,2.
(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation. (Page 3 of 9)
City of Chicago
Near West - Redevelopment Plan_
17-17-203408 17-17-203-009 17-17-203-010 17-17303411 17-17-203-012 17-17-203-013 17-17-203-014 17-17-203-015 17-17-203416 17-17-203417 17-17-203418 17-17-203419 17-17-203420 17-17-203421
17-17-204401 17-17-204402 17-17-204403 17-17-204404 17-17-20*405 17-17-20*406 17-17-20*407 '17-'l7-204408 17-17-204409
17-17-205401 17-17-205402 17-17-205403 17-17-205404 17-17-205405 17-17-205406 17-17-205407 17-17-205408 17-17-205409 17-17-205410 17-17-205411 '17-17-205412 17-17-205413 17-17-205414 17-17-205415 17-17-205416 17-17-205417 17-17-205418 17-17-205419 17-17-205420 17-17-205421 17-17-205423 _17-17-20S424-
17.17-207401 17-17-207402 17-17-207403 17-17.207404 17-17,207405 17-17-207406 17-17-207407 17-17-207408 17.17J07409 17-17-207410 17-17-207415 17-17-207416 17-17-207417 17-17-207419 17-17-207420
$27258
S1B.814
$35,004
$9,910
$30,146
$33,680
$16.4*7
S1Z027
$4,854
$4354
$17318
$49306
$15,806
$14,966
$75354
$5,658
$5,858
$6,486
$5,858
$88,062
$78,857
$33,311
$1483*4
$2,052 $1,979 $3597 $3,997 $3,997 $4,477 $41,008 $28,822 $14246 $6571 $6571 $6524 $9,172 $6584 $6,134 $13,676 $27,460 $3397 $3,679 . $3,114 $6,795 $41,661 $42,084 -
exempt exempt exempt exempt exempt exempt exempt exempt $4,162 $4,162 exempt exempt exempt exempt $84,354
$27358
$16,814
$35,004
$9,910
$30,146
$33,680
$16,447
$12,027
$4,854
$4,854
$17318
$49306
$15306
$14566
$75554
$5358
$5358
$6,486
$5358
$88,062
$78,857
$33311
$1483**
$2,052
$1,979
$3,997
$3,997
$3,997
$4,477
$41,008
$28,822
$1*246
$6,971
$6,971
$6,624
$9,172
$6,984
$6,134
$13676
$27,460
$3,397
$3,679
$3,114
$6,795 $41,661 "$42,084""
exempt exempt exempt exempt ftiefflpt . exempt exempt exempt 54.162 $4 162 exempt exempt exempt exempt
S&4.3S4
Loutk/Schneider & Associates. Inct
23290
JOURNAL-CITY COUNCIL-CHICAGO
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Table 2.
(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation. (Page 4 of 9)
CJfyof Chicago
Near West - Redevelopment Man_
17-17-207421 17-17-207422 17-17-207423
17-17-208401 17-17-208402 17-17-208405 17-17-208406 17-17-208407 17-17^08408 17-17-208409 17-17-208410 17-17308416 17-17-208417 17-17-208418
1748-433401 1748-433402 1748433403 1748-433404 1748-433405 1748-433406 1748-433407 1748-433408 1748-433411 1748-433412 1748-433413 1748-433414 1748-433415 1748-433416 1748-433417 1748-433418
1748-434401 1748-434402 1748-434403 1748-434404 1748-434405 1748-434406 1748-434407 1748-434408 1748-434409 1748-434410 1748-434411 1748-434412 1748-434413 -1748-434414-1748-434415 1748-434416 1748-434417 1748-434418 1748-434419 1748-434420 1748-434421. 1748-434422
1748-4414Q1 1748-441402 1748-441403 1748-441404 1748-441405 1748-441406
1748-442401
$73,171 exempt $42,535
$66384 exempt exempt exempt exempt $88,359 exempt exempt exempt exempt .exempt
$73,171
$101336
$83324
$102579
$82305
$12,753
$31233
$32,812
$149,059
$112,115
$30,897
$38,637
$22390
$29,671
$38381
$65280
$108270
$35238
$46290
$37,690
$37,637 . $40243
$90547
$19,795
$43,725
$39550
$20,461
$20,461
$131248
$31384 -$31384
$51,428
$63,963
$45,149
$31,967
$36,849
$34530
$21,124
$147,806
$378,849
$30,117
$326,663
$802,993
$138,337
$126,358
$236,839
$42535
$66284
exempt,
exempt
exempt
exempt
S88359
exempt
exempt
exempt
exempt
$101,636
$83324
$102579
$82,805
$12,753
$31233
$32312
$149,059
$112,115
$30397
$38,637
$22390
$29,671
$38381
$65280
$108270
$35298 $46290 $37590 $37537 $40243 $90547 $19,795 $43,725 $39550 $20,461 $20,461 $131248 $31,884 -$31384-. $51,428 $63563 $45,149 $31,967 $36,849 $34530 $21,124 $147,806
$378,849
$30,117
$326,663
$802593
$138337
$126,358
$236,839
Louik/Schneider & Associates, lnc^_
6/10/96
REPORTS OF COMMITTEES
23291
Table 2.
(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation.
(Page 5 of 9) - -
City of Chicago
Near West - Redevelopment PJan_
1748-442-002 17-08-442-003 1448-442-004 1748-442405 1748-442408 1748-442407 1748-442408 1748-442409 1748-442410 1748-442411 1748-442412
1748-450406 1748-450407 1748-450408 1748-450414 1748450415 1748450416 1748-450417 1748-450418 1748-450419 1748-450420
1748- 450421
1749- 318401 I74S-31S43? 1749-318403
1749-319401 1749-319402 1749-319403 1749-319404 1749-319405 1749-319406 1749-319407 1749-319408 1749-319-018
1749-327401 1749-327402 1749-327403 1749-327404 1749-327405 1749-327406 1749-327407 1749-327403 1749-327409 1749327410. ""174*327411"~
1749-32*014 1749-328415 1749-336401 1749-336407
1749-337401 '
1749-337402
J 749-337-003
1749-33740*
1749-337405
1749-337416
17-16-100430-8002
$35.0*2
$35.0*2
$201,429
$503392
$48,731
$48,731
$250306
$38314
$258,632
$228356
$219,8*8
$144,932
$74375
$163,135
$103,001
$144302
$42355
$67330
$63380
$137327
$339,847
$1,165,105
$214,757 $117304 $104,133
«■» w
$129,925
$71,325
$70386
$448,417
$76,181
$57,861
$36,164
$36,538
$188,154
$248.40*
$140,417
$44,952
$36,777
$47364
$48,558
$87,886
$68396 . $52,823 "$59354------
$731394 $175,177 $549,381 $63381
$141,053
$72,563.00
$102,505
$75,477
$141,717
$125,745
$2,709,021
$35.0*2
$35,042
$201,429
$503392
$48,731
$48,731
$250,906
$38314
$258332
$228356
$219,848 .
$144,992
$74375
$163,135
$103,001
$144202
$42355
$67230
$63,330
$137227
$339,847
$1,165,105
$214,757 $117304 $104,133
$129325
$71,925
$70366
$448,417
$76,181
$57,861
$36,164
$36338
$188,154
$248,404
$140,417
$44,952
$36,777
$*7264
$48358
$87,886
. $£2,823 -$59254
$731394 $175,177 $549381 $63381
$141,053 $72,563.00 $102,505 $75,477
$141,717 :
$125,745 $2,709,021
Louik/Schrmider & Associates. Inc>
23292
JOURNAL-CITY COUiNfCLL-CHICAGO
6/10/96
Table 2.
(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation. (Page 6 of 9) .
City of Chicago
Near West - Redevelopment Plan_
17-16-1054316 17-16-105-017 17-16-1054)18 17-16.1054719 17-16-1054320 17-16-105-021 17-16-105429 17-16.105436
17-16-109401 17-16-103402 17-16-109403 17-16-109404 17-16-109405 17-16.109406 17-16-109407 17-16-109408
17-16-110404 17-1&-110405 17-16-110406 17-16-110407 17-16-110419
17-16-116401 17-16-116402 17-16-116403 17-16-116404 17-16.116405
17-16-117401 17-16-117425 17-16.117427 17-16-117432 17-16-117433
17-16-122442
17-17-209401 17-17-209402 17-17309403 17-17-209404 17-17-209409 17-17-209410 17-17-209411 17-17-209412 17-17-209413 17-17-209414 "17-17309415" 17-17309416 17-17-209417 17-17-209418
17-17314409 17-17314402 17-17-214403 17-17-214404 17-17-214405 17-17-214406 17-17-214407 17-17-214412 17-17-214413 l7-17-2t4414 17-17-214415
$51521
5123.027
$37,174
$85,094
$97,790
$28,806
$146341
$52310 $33,019 $33,019 $33,019 $33,019 $33,019 $17,168 $195321
$58587
$142336
$97310
$133,151
$11Z438
$466326
$354310
$28353
$28,953
5265.661
$184,008 $18,753 ' $97375 $74,774 $60,138
$90363 $99,950 $353384 $44,834 $667,891 $67,947 $250,777 $83591 $83591 $58356 -$48359 $68,617 $105365 $143,171
$29569
$11,624
$12,842
$25,728
$20305
$12,129
$530243
$130,137
$66543
$133,129
$126,597
$95283
$51521
$123,027
$37,174
$85394
$97,790
$28306
$146341
$52510 $33319 $33,019 $33,019 $33,019 $33,019 $17,168 $195321
$56,887 $142336
$97310:
$133,151 $112,438
$466326 $354310 $28353
$184,003
$18,753
$37375
$74,774
$60,138
Exempt
$90363 $99350 $353284 $44,834 $667,891 . $67,947 $250,777 $83591 . $83,591 $58,356 $48359 $68,617 $105365 $143,171
$29369
$11,624
$12,842
$25,728
$20,805
$1Z129
$530243
$130,137
$66,943
$133,129
$126,597
Louik/Sctmeider & Associates. Inc.
6/10/96
REPORTS OF COMMITTEES
23293
Table 2.
(To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation. (Page 7 of 9)
City of Chicago
Near West - Redevelopment Pian_
17-17-215401
17-17315-002
17-17-215-009
17-17-215410
17-17-215411
17-17-215412
17-17315416
17-17315417
17-17-215418 .
17-17-215419
17-17315420
17-17-215421
17-17-215422
17-17-215423
17-17321410 17-t7321411 17-17321412 17-17321413
17-17322402 17-17-222403 17-17-222406 17-17-222408 17-17322409 17-17-222410 17-17-222414 17-17-222416 17-17-222417 17-17-222419 17-17.222420 17.17322421 17-17-222422 17-17-222423 17-17-222424 17-17-222425
17-17-228403 17-17-228404 17-17-228405 17-17-228405 17-17-228411 17-17-228412 17-17-228413 "17-17-228414-17-17328415 17-17-228415 17-17-228417 17-17-228418 17-17-228419 17-17328420 17-17328421 17-17-228421. 17-17328421. 17-17-228421 17-17-228421. 17-17-228421. 17-17-228421-17-17328421. 17-17-228421. 17-17-228421. 17.17-228421. 17-17-228421.
1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011
Exempt Exempt $110502 Exempt Exempt Exempt (55.118 S3ZS81 $48,019 $109394 $194,630 . Exempt Exempt Exempt
$237,496 $40,626 $34,095 $103323
$57,183
$25,850
$448,724
$42370
$87381
$117,980
$66,620
$8,462
$33,613
$1,501,029
$27,027
$23,990
$6,715
$64344
$64365
$182,013
$59337
$29,767
$29,767
$29,767
$155511
$128,057
$130,107
-$71.768___
$167333
$173,140
$237304
$104,426
$49,128
$15,646
$303,053
$15,646
$15,839
$29,145
$11339
$20,336
$16,028
$25,599
$15,839
$11339
$14,887
$34,657
Exempt. Exempt . $110302
Exempt
Exempt
$55,118
$32581
$48,019
$109,894
$194,630
Exempt
Exempt
$237,496 $40,626 $34,095 $108323.
$57,183 i
$25350
$448,724
$42570
$87581
$117,980
$66520
$8,462
$33,613
$1,501,029 .
$27327
$23590
$6,715
$64,844
$64365
$182,013
$59537
$29,767
$29,767
$29,767
$155511
$128,057
$130,107
$71,768
$167333
$173,140
$237304
$104,426
$49,128
$15,646
$303,053
$15,646
$15,839
$29,145
$11,339
$20336
$16,028
$25599
$15,839
$11,339
$14,887
$34,657
Louik/Schneider & Associates. Inc.
23294
JOURNAL-CITY COUNCIL-CHICAGO
6/10/96
Table 2. . (To Near West Redevelopment Project Area Plan And Project)
Summary Of Equalized Assessed Valuation. (Page 8 of 9)
City of Chicago
Near West - Redevelopment Pian_
17-17-228421-17-17328421-17-17-228421-17.17-228-021. 17-17-228-021-17-17-228421-17-17-228-021-17-17-228421-17-17-228421 17-17-228421-17-17-228421-17-17-228421-17-17-228421. 17-17-228421-17-17-228421■ 17-17.228421-17-17-228421 17-17-228421-17.17-228421-17-17-228421 17-17328421-17-17-228421-17-17-228421-17-17-228421 >7-f?:-22842r-17-17-228421-v17-17326421-17-17328421-17-17328421-17-17-228421-17-17-228421-17-17-228421-17.17-228421-17-17-228421-17-17-228421; 17-17.228421-17-17328421-17r17-228421 17-17328421-17-17-228421-17-17-228421-17-17-228421-17-17328421-17.17-228421-17-17-228421-17-17-228421■ 17-17328421 17-17328421-17-17328421-17-17-228421-17-17.228421-17-17-228421 17-17-228421-17-17328421-17-17-228421-17-17-228421. 17-17328421-17-17-228421-17-17-228421-17-17-228421-17-17-228421-17-17-228421-17-17-228421-17-17-228421-
1012
1013
1014
1015
1016
1017
1018
1019
1020
-1021
1022
1023
1024
1025
.1026
1027
.1028
■1029
■1030
1031
■1032
1033
1034
1035
1035
1037
1038
1039
1040
1041
1042
1043
1044
1045
1046
1047
1048
1049
1050
1051
1052
1053
1054
1055
1056
1057
■1058-
1059
1060
1061
1062
1063
■1064
1065
1066
■1067
■1068
1069
1070
1071
1072
1073
1074
1075
531.681 117223 $26592 $17304
moos
J1Z733 $12,733 S16.662
S33.074 $13,492 S28.131 $23316 $24545 $17,992 $13,492 $17548 $42,452 $29542 $14,126 $29272 $19,704 $25,786 $14,126 $18,626 $18,436 $44,098 $35,735 $19587 $25,913 $20,589 $31,426 $19,387 $19,387 $19523 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,785 $2,785 $2,786 _$2.7B6__ $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786 $2,786
$31,681 $17223 $26592 $17504
$12,733
$12,733
$16,662
$36303
$33,074
$13,492
$28,131
$23,316
$24,645
$17,992
$13,492
$17548
$42,452
$29,842
$14,126
$29272
$19,704
$25,786
$14,126
$18,626
$18,436
$44,098
$35,735
$19387
$25,913
$20569
$31,426
$19387
$19387
$19323
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2.786_
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
$2,786
Louik/Schneider & Associates. Inc.
6/10/96 ' ' ,
■ mp°RTS <* COMMAS
'To Near West Hedeve D 7-ateP. .
& ?mem ^, PlM And
^«Ml2,.tOsT «»0
it^S^'-'Ws-
,7-"33iK>18 $1,900
$1,900
$1,900 «.900 $1,900 *1-9Q0 $'.900
$1,900 $1,900 $1,900 S'500
»i.soo *'3r»
$1,900 *'.90Q $'.*» . S130O $'.900 XIJOO $1,900 $1,900 ,
$1,900 $1,900
$1,900 *'-900
$1,900 J1500
$1,900 $».900
$1,900 $1,900
«7-17.23a<)19 1118.8SS TOTAL
$528,494 wenipt
Koc S'-178.S49 «2S.494
»0.688ji28
6/10/96
REPORTS OF COMMITTEES
23301
Exhibit "C.
City Of Chicago
Near West Area
Tax Increment Finance Program.
Eligibility Study.
Section I. Introduction.
The redevelopment project eligibility report is a supporting document to the revision of the "Madison-Racine Redevelopment Plan and Project" (the "Original Redevelopment Plan and Project"), adopted by the City Council of the City of Chicago for the Madison-Racine Redevelopment Project Area (the . "Original Redevelopment Project Area") called the Near West Redevelopment Project Area Tax Increment Finance Program Redevelopment Plan and Project. During the process of implementing the Original Redevelopment Plan and Project, it has become evident that several changes,, including a boundary change, are necessary to achieve the in 1989 redevelopment of the Original Redevelopment Project Area as part of the City's program to stimulate private investment in the redevelopment of "Conservation Areas" under the Act (defined below).
The area to be added to the Original Redevelopment Project Area (the "Added Area") consists of approximately fifty-five and five-tenths (55.5) acres and consists of twenty-five (25) (full and partial) city blocks. The - -Added-Area is-bounded-by-Lake Street on the north,--Van-Buren-Street and -the Circle Interchange of the Dan Ryan, Eisenhower and Kennedy Expressways on the south, the Kennedy Expressway on the east, and Green and Peoria Streets on the west. The "Original Redevelopment Project Area" together with the "Added Area" is renamed and hereinafter referred to as the "Near West Redevelopment Project Area".
The study, "A Tax Increment Redevelopment Area Madison-Racine Redevelopment Plan and Project Eligibility Study" for the Original Redevelopment Project Area was prepared by the City of Chicago Department of Economic Development in January, 1989. Studies and
23302
JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
analyses completed in 1989 and documented as part of the Eligibility Study provided the basis for the finding by the City of Chicago that the Original Redevelopment Project Area of approximately one hundred two (102) acres qualified for designation as a Conservation Area as defined in the Tax Increment Allocation Redevelopment Act, 65 LLCS 5/11-74.4-1, et seq., as amendedithe "Act"). -
Louik/Schneider and Associates, Inc. has been retained by United Hellenic American Congress (UJBAC.) to conduct an independent initial study and survey of the proposed Added Area (see (Sub)Exhibit 1 Legal Description). The purpose of the study is to determine whether the Added Area qualifies for designation as a Conservation Area for the purpose of a tax increment financing district, pursuant to the Act. This report summarizes the analyses and findings of the consultants' work, which unless otherwise noted, is solely the responsibility of Louik/Schneider and Associates, Inc., and does not necessarily reflect the views and opinions of potential developers, or the City of Chicago.
Following this introduction, Section II presents background information of the Added Area: the area location, description of current conditions and site history. Section LTI identifies the Illinois statute for Tax Increment Financing, explains the Building Condition Assessment and documents the qualifications of the Added Area as a Conservation Area, pursuant to the Act. Section IV - Summary and Conclusions, presents the findings related to the designation of the Added Area as a Conservation Area.
This report was jointly prepared by Myron D. Louik, John P. Schneider, Lori T. Healey and Tricia Marino Ruffolo of Louik/Schneider and Associates, Inc
Section II. Background Information.
Location.
The Added Area is located in the near west side of the City of Chicago, Illinois immediately west of the City's Central Business District. The Added Area contains approximately fifty-five and five-tenths (55.5) acres and consists of twenty-five (25) (full and partial) city blocks. The Added Area is bounded by Lake Street on the north, Van Buren Street and the Circle Interchange of the Dan Ryan, Eisenhower and Kennedy Expressways on the south, the Kennedy Expressway on the east, and Green and Peoria Streets on the west. The Added Area is divided into two (2) sections; south of Madison Street which is referred to as the Halsted Street District (Greektown) and north of Madison Street which is the Randolph Street
6/10/96
REPORTS OF COMMITTEES
23303
District (Market). The boundaries of the Added Area are shown on Map 1, Boundary and Structure Map, and the existing land uses are shown on Map
2. . , ■ ■
The Added Area also includes two (2) parcels, 17-17-122-042 and 17t16-238-014, which are part of the Eisenhower Expressway.
The Added Area is adjacent to and abuts against the Original Redevelopment Project Area on Monroe Street, between Peoria and Green Streets and on Green Street, between Madison and Monroe Streets. The Added Area shares characteristics of the Original Redevelopment Project Area. Both areas have a combination of manufacturing, residential, retail and commercial land uses.
As with the Original Redevelopment Project Area, Targe parts of the Added Area are within the Madison-Racine Urban Renewal Area. The Madison-Racine Urban Renewal Area was designated by the Department of Urban Renewal on May 25, 1976 as a slum and blighted area for redevelopment under the Urban Renewal Consolidation Act of 1961. That Act defines a slum and blighted area as "any area of not less ... than two (2) acres . . . where building and improvements by reasons of dilapidation, obsolescence, overcrowding, faulty arrangement or design, lack of ventilation, light and sanitary facilities, excessive land coverage, deleterious land-use or layout or any combination of these factors, are detrimental to the public safety, health, morals, or welfare".
The Madison-Racine Urban Renewal Area, comprises one hundred seventy-seven and thirty-six one-hundredths (177.36) acres and is located in the west side of the City. The area is bounded generally on the north by Lake Street; on the west by Ogden Avenue; on the south by Madison Street and Monroe Street; and on the east by the John F. Kennedy Expressway. These boundaries are shown on the (sub)exhibit entitled "Madison-Racine TJ.F. District and Urban Renewal Boundary Map 3".
Description Of Current Conditions Of The Added Area.
Today, all that remains of the historic Greektown District is about three ~(3)-blocks"on--Halstednorth- of-Van-BuremNumerous-restaurants^ a grocery, a pastry shop, a pharmacy, a store selling religious artifacts and a travel agency now constitute Greektown. The restaurants draw business from throughout the metropolitan area and are popular with tourists and convention delegates. The grocery no longer stocks exclusively Greek merchandise - having changed its inventory to include items desired by the non-Greek residents of the area. Moreover, the other businesses are experiencing declining demand for their goods and services, and slowly, the last vestiges of the historic Greektown District are disappearing.
23304
JOUTlNAL--CrrY COUNCIL-CHICAGO
6/10/96
The Randolph Street District currently houses a number of wellr established upscale restaurants. There also is a residential community new to the area that occupies renovated industrial loft buildings. Both the restaurant/retail and residential communities coexist with the area's original occupant, the wholesale food market.
There has been a limited amount of investment in the last two (2) years in both the Randolph and Halsted Street Districts. A summary of the building permit requests for new construction and major renovation from the City of Chicago is found in (Sub)Exhibit 2 - Building Permit Requests.
Building permit requests for renovation and new construction for the Added Area from 1993 - 1995 total Eight Million Four Thousand and Seventy Dollars ($8,004,070). Three (3) projects, 845 West Madison, 14 North Peoria and 28 North Halsted account for over Five Million Five Hundred Eighty-four Thousand Dollars ($5,584,000) during that period. Two (2) of these projects (845 West Madison and 14 North Peoria) were complete renovations of multi-story buildings for office use and residential use, respectively. Building permit requests from 1993 1995, excluding the three (3) previously mentioned projects, totaled Two Million Four Hundred Fifty-nine Thousand Eight Hundred Sixty Dollars ($2,459,860).
Grand . Total Without
Total Madison Peoria Halsted 3 Projects
1993 $4,893,200 $3,500,000 $859,000 $ 0 $ 534,000
1994 1,470,028 335,000 40,000 0 1,135,028
1995 1,640,842 0 0 850,000 790,842
On an annual basis, this investment represents less than one percent (1%) of the marke t value of the Added Area.
Added Area History.
Although a few Greeks immigrated to Chicago in the 1840s and 1850s, the main surge of immigration from Greece to Chicago did not begin until the 1870s. Following the Great Fire of 1871, Chicago was viewed by Greek Immigrants as a city that offered great opportunities for financial success. By 1882, there were almost one thousand (1,000) Greeks living in Chicago. Working largely in construction and in the wholesale produce markets, these early immigrants sent money back to families in Greece and saved money to bring relatives to Chicago. Over the next decade, thousands of Greeks settled in Chicago with their families. By 1892, the new immigrants
6/10/96
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formed the first Greek Orthodox parish, the Annunciation Church, in rented quarters in the Randolph Street market area.
By the turn of the century, a concentration of Greek immigrants had developed on the near west wide. New immigrants continued to pour into the near west side until the passage of the Immigration Quota Act in 1924. This legislation severely limited the immigration of eastern and southern Europeans and greatly reduced the number of immigrants of both Greek and Italian descent who had been crowding into near west side neighborhoods. At its peak, Chicago's Greektown probably housed forty thousand (40,000) to fifty thousand (50,000) persons and extended west to Ashland Avenue. The commercial area extended north on Halsted Street to Jackson Boulevard.
Section III. Qualifications As A Conservation Area.
Illinois Tax Increment Act.
The Act authorizes Illinois municipalities to redevelop locally designated deteriorated areas through tax increment financing. In order for an area to qualify as a tax increment financing district, it must first be designated as a Blighted Area, a Conservation Area (or a combination of the two) or an Industrial Park. As set forth in the Act, a Conservation Area means any improved area within the boundaries of a redevelopment project area located within the territbrial limits of the municipality in which fifty percent (50%) or more of the structures are thirty-five (35) years of age or older and the area exhibits the presence of three (3) or more of the following factors: dilapidation; obsolescence; deterioration; illegal use of individual structures; presence of structures below minimum code standards; abandonment; excessive vacancies; overcrowding of structures and community facilities; lack of ventilation, light or sanitary facilities; inadequate utilities; excessive land coverage; deleterious land-use or layout; depreciation of physical maintenance; or lack of community planning.
A~C6nseT^ation~ATea~is-not-ye age and the
combination of three (3) or more of the above-stated factors, is detrimentaTto public safety, health, morals or welfare and may become a blighted area. In order for this Added Area to qualify as a Conservation Area, it must be demonstrated that the area exhibits at least three (3) of the fourteen (14) factors aforementioned for a Conservation Area and meets the other criteria described above. On the basis of this approach, the Added Area is eligible to be designated as a Conservation Area within the requirements of the Act.
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Building Evaluation Procedure.
How Building Components And Improvements Are Evaluated.
During the field survey, each component of and improvement to each building m the Added Area were examined to determine whether they were in sound condition or had minor, major or critical defects. These examinations were completed to determine whether conditions existed to evidence the existence of any of the following related factors: dilapidation, deterioration or depreciation of physical maintenance.
Building components and improvements examined were of two types:
Primary Structural Components.
These include the basic elements of any building or improvement including foundation walls, load bearing walls and columns, and roof structure.
Secondary Components.
These are components generally added to the primary structural components and are necessary parts of the building and improvements, including porches and steps, windows and window units, doors and door units, facade, chimneys, and gutters and downspouts.
Each primary and secondary component and improvement was evaluated separately as a basis for determining the overall condition of the building and surrounding area. This evaluation considered the relative importance of specific components within the building and the effect that deficiencies in components and improvements have on the remainder of the building. The buildings are evaluated, classified and rated.
Building Component And Improvement Classifications.
The~ f6T3r~ (4) "categories used^n-improvements and the criteria used in evaluating structural deficiencies are described below.
1. . Sound.
Building components and improvements which contain no defects, are adequately maintained, and require no treatment outside of normal ongoing maintenance.
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2. , Requiring Minor Repair Depreciation Of Physical Maintenance.
Building components and. improvements which contain defects (loose or missing material or holes and cracks over a limited ~ area) which often may be corrected through the-course of normal maintenance. Minor defects have no real effect on either primary or secondary components and improvements and the correction of such defects may be accomplished by the owner or occupants, such as tuckpointing masonry joints overi a limited area or replacement of less complicated components and improvements. Minor defects are not considered in rating a building as structurally substandard.
3. Requiring Major Repair Deterioration. ^ ' ' >'
Building components and improvements which contain- major defects over a widespread area and would be difficult'to correct through normal maintenance. Buildings and improvements in this category would require replacement or rebuilding of components and improvements by people skilled in the ^building trades. '
4, Critical - Dilapidated. -
Building components and improvements which contain major defects (bowing, sagging, or settling to any or all exterior components, for example) causing the structure to be out-of-plumb, or broken, loose or missing material and deterioration over a widespread area so extensive that the cost of repair would be excessive.
Final Building Or Improvement Rating.
After completion of the exterior condition survey, the improvement was placeld'inone (1) of thefour (4) categories basedon-the combination of defects found in various primary and secondary building components. Each final rating is described below.
Sound.
Sound buildings and improvements can be kept in a standard condition ' with normal maintenance. Buildings so classified have no minor or major defects.
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Requiring Minor Repair Depreciation Of Physical Maintenance.
Buildings and improvements in this classification - requiring minor-repairs - have more than one (1) minor defect, but do not have a major defect.
Requiring Major Repair Deterioration.
Buildings and improvements in this classification ~ requiring major repairs - have at least one (1) major defect in one (1) of the primary components or in the combined secondary components, but do not have a critical defect.
Dilapidated.
Structurally substandard buildings and improvements contain defects which are so serious and extensive that the building and/or improvements should be removed as the cost of the repairs of the building exceed its value. Buildings and improvements classified as structurally substandard have two (2) or more major defects.
Added Area Eligibility Criteria.
The following section examines each of the Added Area criteria. First it must be demonstrated the Added Area meets the criteria for age and then at least three (3) or more of the additional fourteen (14) criteria.
Age Criteria.
Age is a prerequisite factor for a Conservation Area and presumes the existence of problems or limiting conditions resulting from normal and continuous use of structures over a period of years. Since building deterioration and related structural problems are a function of time, temperature and moisture, structures which are thirty-five (35) years or older typically'exnibiC more recently constructed
buildings.
Of the twenty-five (25) blocks in the Added Area, there are twenty, (20) blocks,with buildings that meet the age criteria. There are a total of one hundred four (104) buildings (ninety-one percent (91%)) which are thirty-five (35) years or older.
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Conclusion.
In the Added Area, there are one hundred four (104) of one hundred fourteen (114) buildings (ninety-one percent (91%)) which are thirty-five (35) years or older. In a Conservation Area, fifty percent (50%) or more of the structures in the Added Area must be thirty-five (35) years of age or older. Age is a factor throughout the Added Area. The results of the analysis of age are shown in Map 4.
In addition to the age criteria, the Added Area must exhibit the presence of three (3) or more of the following fourteen (14) factors. The following section examines each of the fourteen (14) criteria.
Eligibility Criteria. 1. Dilapidation.
Dilapidation refers to an advanced state of disrepair of buildings and improvements. In October of 1995, the condition of each of the buildings was evaluated based upon an exterior survey of all the structures iu the Added Area. The analysis of the building dilapidation is based on the survey methodology and criteria described in the preceding section on "How Building Components and Improvements are Evaluated". Based on exterior building surveys, it was determined the dilapidated buildings contained at, least two (2) major structural problems such as cracked foundation, missing foundation walls, bowed or sagging walls or a bowed or sagging roof.
Conclusion.
Dilapidation is a factor throughout the Added Area. Dilapidation is present in thirteen (13) of the twenty-five (25) blocks and in twenty-eight (28) (twenty-five percent (25%)) of the one hundred fourteen (114) buildings. The results of the dilapidation analysis are presented in Map 5.
2. Obsolescence.
_ Webster's New Collegiate Dictionary defines "obsolescence" as "being out of use; obsolete". "Obsolete" is further defined as longer in use; disused" or "of a type or fashion no longer current". These definitions are helpful in describing the general obsolescence of buildings or site improvements in a proposed Redevelopment Project Area. In making findings with respect to buildings and improvements, it is important to distinguish between functional obsolescence, which relates to the physical utility of a structure, and economic obsolescence, which relates to a property's ability to compete in the marketplace.
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Functional Obsolescence.
Structures historically have been built for specific uses or purposes. The design, location, height and space arrangement are intended for a specific occupancy at a given time. Buildings and improvements become obsolete when they contain characteristics or deficiencies which limit the use and marketability of such buildings and improvements for that use after the original use ceases. The characteristics may include loss in value to a property resulting from an inherent deficiency existing from poor design or layout, the improper orientation of the building on its site, et cetera, which detracts from the overall usefulness or desirability of a property.
Economic Obsolescence.
Economic obsolescence is normally a result of adverse conditions which cause some degree of market rejection and, hence, depreciation in market values. Typically, buildings classified as dilapidated and buildings which contain vacant space are characterized by problem conditions which may not be economically curable, resulting in net rental losses and/or depreciation in market value.
Site improvements, including sewer and water lines, public utility lines (gas, electric and telephone), roadways, parking areas, parking structures, sidewalks, curbs and gutters, lighting, etc., may also evidence obsolescence in terms of their relationship to contemporary development standards for such improvements. Factors of obsolescence may include inadequate utility capacities, outdated designs, etc
Obsolescence, as a factor, should be based upon the documented presence and reasonable distribution of building and site improvements evidencing such obsolescence.
Obsolete Building Types.
Obsolete buildings contain characteristics or deficiencies which limit their long-term sound use or reuse for the purpose for which they were built. Obsolescence in such buildings is typically difficult and expensive to correct. Obsolete building types have an adverse effect on nearby and surrounding development and detract from the physical, functional and economic vitality of the area.
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Obsolescence is present in approximately forty-four percent (44%) of the structures in the Added Area. These structures are characterized by conditions indicating the structure is incapable of efficient or economic use according to contemporary standards. They contain:
An inefficient exterior configuration of the structure, including insufficient width and small size.
Multi-story manufacturing buildings with large floor plates with antiquated building systems.
Inadequate access for contemporary systems of delivery and service, including both exterior building access and interior vertical systems.
Obsolete Platting.
Obsolete platting includes parcels of irregular shape, narrow or small size, and parcels improperly platted within the Added Area blocks. The Added Area is consistent with the basis-grid pattern of the streets in Chicago. Each of the twenty-five (25) blocks with the exception of Block 100 (the Quality Inn Hotel) are located on small parcels of twenty-five (25) feet, thirty (30) feet, and fifty (50) feet. Blocks with small, narrow and irregular parcels would be difficult to develop on an individual planned basis in a manner compatible with contemporary standards and requirements. The buildings located along Randolph Street in Blocks 433,434,319,327 -- are examples of narrow parcels that are difficult to develop.
Obsolete Site Improvements.
Many of the blocks throughout the Added Area have no alleys. This situation forces delivery and loading of materials to be made through the front of the building. Off-street loading either reduces the amount of parking spaces available or causes unnecessary congestion because of double-parked vehicles.
Serviee~drives areTocated on-both the-north-and- south-sides-of-Randolph-Street. The service drives were used primarily for loading and unloading various material when the Area functioned as a market. The service drives no longer function as originally intended. In addition, Block 318 has only one way of both ingress and egress which limits its accessibility.
Lack of parking for buildings with specific uses is a problem throughout the Added Area. There are multi-story manufacturing buildings and some restaurants along Randolph Street that do not have their own parking facilities. Patrons and employees of these buildings are forced to occupy the
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off-street parking, thus reducing the amount of off-street parking available for the Area.
There are also five (5) streets (Couch and Quincy Streets, Couch Place, Warren and Gladys Avenues) located between Halsted Street and the KennedyTSxpressway that have inadequate street widths for contemporary use. ■"
Conclusion^
Obsolescence is a factor throughout the Added Area. Obsolescence is. present in fourteen (14) of the twenty-five (25) blocks in fifty (50) (forty-four percent (44%)) of the one hundred fourteen (114) buildings. The results of the obsolescence analysis are presented in Map 6.
3. Deterioration.
Deterioration refers to any physical deficiencies or disrepair in buildings or site improvements requiring major treatment or repair.
Deterioration which is not easily correctable and cannot be accomplished in the course of normal maintenance may be evident in buildings. Such buildings and improvements may be classified as requiring major or many minor repairs, depending upon the degree or extent of defects. This would include buildings with defects in the secondary building components doors, windows, porches, gutters and downspouts, fascia materials, etc.), and defects in primary building components,
(. foundations, frames, roofs, etc.), respectively.
- JUT buildings and site improvements classified as dilapidated
are also deteriorated.
Deterioration Of Buildings.
The analysisof Duil&ng deteTioratidnisbased on^ and criteria described in the preceding section on "How Building Components And Improvements Are Evaluated". There are eighty-four (84) buildings in the Added Area thatare deteriorated.
Deterioration may be present in basically sound buildings containing minor defects which are correctable through normal maintenance, such as lack of painting, loose or missing materials, or holes or cracks over limited areas. Deterioration may be evident which is not easily correctable and cannot be accomplished in the course of normal maintenance. This includes buildings with defects in secondary components (for example: doors,
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windows, porches, facade, gutters and downspouts, fascia materials, etc.), as well as defects in primary building components.
Deterioration Of Parking And Surface Areas.
Once again, field surveys were conducted to identify the condition of the parking areas. Of the ninety-four (94) parcels that are used for parking lots, eighteen (18) are classified as deteriorating. Some of the parking areas classified as deteriorated were so badly damaged they were currently not in use. ,'
Conclusion.
Deterioration is a factor throughout the Added Area. Deterioration is present in eighteen (18) of the twenty-five (25) blocks and in one hundred two (102) (forty-nine percent (49%)) of the two hundred ten (210) parcels. The results of the deterioration analysis are presented in Map 7.
4. Illegal Use Of Individual Structures.
Illegal use of individual structures refers to the presence of. uses or activities which are not permitted by law.
Conclusion. ^
A review of the Chicago Zoning Ordinance indicates that there is no illegal use of the structures or improvements in the Added Area.
5. Presence Of Structures Below Minimum Code Standards.
Structures below minimum code standards include all structures which do not meet the standards of zoning, subdivision, building, housing, property maintenance, fire or other governmentalrcodes applicable to the property. Tfie1priMipal~purposes-of-"Such~codes-are«(i).-.to_rei}uire buildings to be constructed in such a way as to sustain safety of loads expected from the type" of occupancy, (ii) to be safe for occupancy against fire and similar hazards, and (iii) to establish minimum standards essential for safe and sanitary habitation. "
One unit on the top floor of a four (4) story building in the Added Area was damaged by fire.
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Conclusion. .
The presence of structures below minimum code standards is present in only one (1) of the twenty-five (25) blocks and in one (1) of the one hundred fourteen (114) buildings.
6. Abandonment.
Abandoned buildings and improvements are usually dilapidated and show visible signs of long-term vacancy and non-use.
Conclusion.
No evidence of abandonment of structures has been documented as part of the exterior surveys and analyses undertaken within the Added Area.
7. Excessive Vacancies.
Excessive vacancy refers to buildings or sites, a large portion of which are unoccupied or underutilized and which exert an adverse influence on the area because of the frequency, duration or extent of vacancy. Excessive vacancies include properties which evidence no apparent effort directed toward their occupancy or underutilization.
Excessive vacancies occur in varying degrees throughout the Added Area. All of the vacancies iden tified throughout the Added Area represent at least fifty percent (50%) one hundred percent (100%) of each of the buildings, that is a building is considered to have excessive vacancies if fifty percent (50%) one hundred percent (100%) of the building is vacant or underutilized. There are forty-two (42) vacancies in the following building types:
Buildings that are completely vacant from single-story commercial to multi-story manufacturing.
-Multi-story"buildings -wi^-occupied~first-floors (generally_by_. restaurants of store fronts) and vacant upper residential or commercial units.
^ Multi-story manufacturing buildings with only the fi occupied and the above four or more vacant upper floors.
All of the above degrees of vacancy exist throughout fourteen (14) blocks in the forty-two (42) buildings of the Added Area.
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Conclusion.
Excessive vacancy is a factor throughout the Added Area. Excessive vacancies are present in fourteen (14) of the twenty-five (25) blocks and in forty-two (42) thirty-seven percent (37%) of the one hundred fourteen (114) buildings. The results of the excessive vacancy analysis are presented in Map 8.
8. Overcrowding Of Structures And Community Facilities.
Overcrowding of structures and community facilities refers to utilization of public or private buildings, facilities, or properties beyond their reasonable or legally permitted capacity. Overcrowding is frequently found in buildings and improvements originally designed for a specific use and later converted to accommodate a more intensive use of activities without adequate provision for minimum floor area requirements, privacy, ingress and egress, loading and services, capacity of building systems, et cetera.
Conclusion. ,
No conditions of overcrowding of structures and community facilities have been documented as part of the exterior surveys and analyses undertaken within the Added Area.
9. Lack Of Ventilation, Light Or Sanitary Facilities.
Lack of ventilation, light or sanitary facilities refers to substandard conditions which adversely affect the health and welfare of building occupants, e.g., residents, employees or visitors. Typical requirements for ventilation, light and sanitary facilities include:
adequate mechanical ventilation for air circulation in spaces/rooms without windows, i.e., bathrooms, and dust, odor or smoke producing activity areas;
-----------adequate-naturallight and-ventilationby. means of sky lights or.
windows or interior rooms/spaces, and proper window sizes and amounts by room area to window area ratios; and
adequate sanitary facilities, i.e., garbage storage/enclosure, bathroom facilities, hot water, and kitchens.
Based on exterior building surveys, there were six (6) buildings in the Added Area identified as having inadequate ventilation or light. The
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buildings had no windows or boarded up windows that prohibit light from entering the building.
Conclusion.
Lack of ventilation, light or sanitary facilities is present in the Added Area. Lack of ventilation, light or sanitary facilities is present in four (4) of the twenty-five (25) blocks and in six (6) (five percent (5%)) of the one hundred fourteen (114) buildings. The results of the lack of ventilation, light or sanitary facilities analysis are presented in Map 9.
10. Inadequate Utilities.
Inadequate utilities refers to deficiencies in the capacity or condition of infrastructure which services a property or area, including, but not limited to, storm drainage, water supply, electrical power, streets, sanitary sewers, gas and electricity.
Conclusion.
No evidence of inadequate utilities has been documented as part of the exterior surveys and analyses undertaken within the Added Area.
11. Excessive Land Coverage.
Excessive land coverage refers to the over-intensive use of property and the crowding of buildings and accessory facilities onto a site. Problem conditions include buildings either improperly situated on the parcel or located on parcels of inadequate size and shape in relation to present-day standards of development for health and safety. The resulting inadequate conditions include such factors as insufficient provision for light and air, increased threat of spread of fires due to close proximity to nearby buildings, lack of adequate or proper access to a public right-of-way, lack of required off-street parking, and inadequate provision for loading and service. ~Excessive4and-coverage_conoUtions_haye_anadye nearby development.
Excessive land coverage occurs throughout sixteen (16) blocks of the Added Area. The three (3) building types which exhibit excessive land coverage are: buildings constructed from lot line to lot line (as identified in the structure base map); buildings that are small and narrow in size; and, multi-story manufacturing buildings. Buildings which abut side by side have insufficient provisions for light and air and increase the threat of fire spreading. All of the buildings with excessive land coverage lack the required off-street parking necessary to accommodate their employees and
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patrons and in most cases have inadequate provisions for loading and service.
Conclusion. -
Excessive land coverage is a factor throughout the Added Area. Excessive land coverage is present in sixteen (16) of the twenty-five (25) blocks and in ninety (90) (seventy-nine percent (79%)) of the one hundred fourteen (114) buildings. The results of the excessive land coverage analysis are presented in Map 10.
12. Deleterious Land-Use Or Layout.
Deleterious land-uses include all instances of incompatible land-use relationships, buildings occupied by inappropriate mixed uses, or uses which may be considered noxious, offensive or environmentally unsuitable. It also includes residential uses which front on or near heavily traveled streets, thus causing susceptibility to noise, fumes and glare. Deleterious layout includes evidence of improper or obsolete platting of the land, inadequate street layout, and parcels of inadequate size or shape to meet contemporary development standards. It also includes evidence of poor layout of buildings on parcels and in relation to other buildings.
In the Added Area deleterious land-use or layout is identified in sixteen (16) of the twenty-five (25) blocks. There is an inappropriate mix of uses. The Added Area has commercial, residential, retail and manufacturing uses. The Added Area also includes residential uses that front along heavily traveled streets such as Halsted, Van Buren, Randolph and Madison Streets. Many of the parcels are narrow and small or contain large manufacturing buildings which are of inadequate size for contemporary development. The multi-story manufacturing buildings are also difficult to develop because of their large floor plates and antiquated design and systems. The Added Area also includes evidence of improper or obsolete platting of land, outlined in detail in Criteria 3, Obsolescence.
Conclusion.
Under Illinois Department of Revenue guidelines, the Added Area meets the criteria for deleterious laxd-use or layout. However, as the mixed-use combination of land-uses appears to be beneficial to spurring development, the deleterious land-use and layout criteria will not be counted as a factor present in the Added Area for this study.
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13. Depreciation Of Physical Maintenance.
Depreciation of physical maintenance refers to the effects of deferred maintenance and the lack of maintenance of buildings, parking areas and public improvements, including alleys, walks, streets and utility structures. The analysis of depreciation of physical maintenance is based on survey methodology and criteria described in the preceding section 'T3ow Building Components and Improvements Are Evaluated".
Twenty-two (22) blocks in the Added Area are affected by lack of physical maintenance. The presence of this factor includes buildings, parking areas and vacant land, and streets.
The buildings that evidenced depreciation of physical maintenance included for example such items as unpainted or unfinished surfaces, peeling paint, loose or missing materials, broken windows, loose or missing gutters or downspouts, loose or missing shingles and lack of maintenance, et cetera. The parking areas and vacant land included such items as broken pavement, pot holes, standing water, deteriorated curbs, broken or rotted bumper guards, grass growing in pavement, crumbling asphalt and accumulation of trash or debris.
Conclusion.
Depreciation of physical maintenance is a factor throughout the Added Area. Depreciation of physical maintenance is present in twenty-two (22) of the twenty-five (25) blocks and one hundred fifty-seven (157) (seventy-five percent (75%)) of the two hundred ten (210) parcels. The results of the depreciation of physical maintenance analysis are presented in Map 11.
14. Lack Of Community Planning.
Lack of community planning is present within the Added Area if the proposed redevelopment area was developed prior to or without the guidance of a community plan. The Added Area has been developed without a comprehensive plan. This is. evidenced by:
the mix of commercial, residential, retail and manufacturing uses.
lack of sufficient off-street parking, residential uses along main arterial streets, outdated service drives.
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lack of alleys, lack of site improvements.
Block 122 is the only block in the Added Area that cannot be counted as having the lack of community planning factor, because it is part of the Eisenhower Expressway.
Conclusion.
Lack of community planning is a factor throughout the entire Added Area except for Block 122, the Eisenhower Expressway. The result of-the lack of community planning analysis is present in Map 12.
Added Area Eligibility Criteria Summary.
In addition to the age requirement, nine (9) factors are present in varying degrees throughout the Added Area. The factors have been identified as follows:
Minor extent
-- presence of structures below minimum code standards. ■' lack of ventilation, light or sanitary facilities.
Major extent
- dilapidation.
- obsolescence, deterioration.
~ ^"""excessive' vacancies: -------------------j^^x^
excessive land coverage.
- depreciation of physical maintenance, lack of community planning.
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Section IV. Summary And Conclusion.
The conclusion of the consultant team engaged to conduct the"study is that the number, degree and distribution of factors as documented in this report warrant the designation of the Added Area as a Conservation Area as set forth in the Act.
While it may be concluded that the mere presence of three (3) or more of the stated area factors in Section m may be sufficient to make a finding of qualification as a Conservation Area, this evaluation was made on the basis that the factors must be present to an extent which would lead reasonable persons to conclude that public intervention is appropriate or necessary. Secondly, the distribution of factors throughout the Added Area must be reasonable so that basically good areas are not arbitrarily found to be a Conservation Area simply because of proximity to a Conservation Area.
The Added Area is found to be eligible to be designated as a Conservation Area within the definition set forth in the legislation. Specifically:
The buildings and improvements meet the statutory criteria that requires fifty percent (50%) or more of the structures to be thirty-five (35) years of age or older.
Of the fourteen (14) factors for a Conservation Area set forth in the law, nine (9) are present in the Added Area (two (2) minor extent and seven (7) major extent) and only three (3) are necessary for designation as a Conservation Area.
The Conservation Area factors which are present are reasonably distributed throughout the Added Area.
. All areas within the Added. Area shown the presence of Conservation Area factors.
All blocks in the Added Area evldence~th"e"presence ofsome~eligibility-factors. The eligibility findings indicate that the area is in need of revitalization or it could become blighted and that designation as a redevelopment area will contribute to the long-term well being of the City, All factore,indicate that the area on the whole has not been subject to growth and development through investments by private enterprise, and will not be developed without action by the City.
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The conclusions presented in this report are those of the consulting team engaged to analyze the area and to examine whether conditions exist to permit the designation of the Added Area as a Conservation Area. The local governing body should review this report and, if satisfied with the summary of findings contained herein, adopt a resolution making a. finding' that the Added Area is a Conservation Area and making this report a part of the public record. The analysis above was based upon data assembled by Louik/Schneider & Associates, Inc The surveys, research and analysis conducted include:
1. exterior surveys of the condition and use of the Added Area;
2. field surveys of environmental conditions covering streets, sidewalks, curbs and gutters, lighting, traffic, parking facilities, landscaping, fences and walls, and general property maintenance;
3. comparison of current land use to current zoning ordinance and the current zoning maps;
4. historical analysis of site uses and users;
5. analysis of original and current platting and building size layout; and
6. review of previously prepared plans, studies and data.
The study and survey of the area of the Added Area indicate that requirements necessary for designation as a Conservation Area are present. In order to qualify as a Conservation Area, fifty percent (50%) or more of the structures in the Added Area must be thirty-five (35) years of age or older and the Added Area must exhibit three (3) or more of the factors set forth in the Act. In the Added Area, ninety-one percent (91%) of the buildings are _thirty-fiv_e (35)years of age or older. The Added Area exhibits nine (9) of the criteria necessary for designation7 of "which" two_(2)~are"present-toa minor extent and seven (7) are present to a major extent.
Therefore, The Added Area is qualified to be designated as a Redevelopment Project Area eligible for Tax Increment Financing under the Act. See Distribution of Criteria Matrix--Exhibit 3.
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[(Sub)Exhibit 3, Map 1 (Project Boundary Map); Map 2 (Existing Land-Use Map); Map 3 (Madison-Racine TJ.F. District and Urban Renewal Boundaries Map); Map 4 (Age Map); Map 5 (Dilapidation Map); Map 6 (Obsolescence Map); Map. 7 (Deterioration Map); Map 8 (Excessive Vacancies Map); Map 9 (Lack of "Ventilation, Light or Sanitary Facilities Map>; Map 10 (Excessive Land Coverage Map); Map 11 (Depreciation of Physical Maintenance Map); and Map 12 (Lack of Community Planning Map) referred to in this Near West Area Tax Increment Finance Program Eligibility Study printed on pages 23328 through . 23340 of this Journal.]
(Sub)Exhibits 1 and 2 referred to in this Near West Area Tax Increment Finance Program Eligibility Study read as follows:
(Sub)Exhibit 1. (To Near West Area Tax Increment Finance Program Eligibility Study)
Legal Description.
That part of the southeast quarter of Section 8 and part of the southwest quarter of Section 9 and part of the northwest quarter of Section 16 and part of the northeast quarter of Section 17, Township 39 North, Range 14 East of the Third Principal Meridian, described as follows:
beginning at the intersection of the north right-of-way line of West Lake Street, with the west right-of-way line of North Peoria Street; thence
......south, along said- west right-ofrway hne of North Peoria Street, to the
north right-of-way line of West Washington Street; thencefeast,along said north right-of-way line of west Washington Street, to the east right-of-way line of North Peoria Street; thence south, along said east right-of-way line of North Peoria Street, to the south right-of-way line of West Washington Street; thence east, along said south right-of-way line of West Washington Street, to the west right-of-way line of North Green Street; thence south, along said west right-of-way line of North Green Street, to the north right-of-way line, of West Madison Street; thence east, along said north right-of-way line of West Madison Street, to the east right-of-way line of North Green Street; thence south, along said
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east right-of-way line of North Green Street and the east right-of-way line of South Green Street, to the south right-of-way line of West Monroe Street; thence west, along said south right-of-Way line of West Monroe Street, to the east right-of-way line of South Peoria Street; thence south, along said east right-of-way line of South Peoria Street, to the north right-of-way line of West Adams Street; thence east, along said north right-of-way line of West Adams Street, to the southeast corner of Lot 9 in Block 9 in Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of said Section 17, also being a point in the centerline of said Block 9; thence south, along the centerline of Block 12 in said Duncan's Addition to Chicago (and its northerly and southerly extensions) to the south right-of-way line of West Jackson Boulevard; thence east, along said south right-of-way line of West Jackson Boulevard, to the west right-of-way line of South Green Street; thence south, along said west right-of-way line of South Green Street, to the northerly right-of-way line of the Dwight D. Eisenhower Expressway; thence easterly, along said northerly right-of-way line of the Dwight D. Eisenhower Expressway to a point on the south line of Lot 2 in Block 21 in said Duncan's Addition to Chicago, said point being 17 feet east of the southwest corner of said Lot 2; thence east, along the south line of said Lot 2 to the southeast corner thereof, said point being on the west right-of-way line of South Halsted Street; thence east to the southwest corner of Lot 17 in J.A. Yale's Subdivision of Block 5 of School Section Addition to Chicago of said Section 16, said point being on the east right-of-way line of South Halsted Street; thence east, along the south Tine of Lots 17 through 13, inclusive, in said J.A. Yale's Subdivision; to a point on the east line of the west 5 feet of Lot 13 in said JA. Yale's Subdivision; thence north, along said east line of the west 5 feet of Lot 13, to the south right-of-way line of West Van Buren Street; thence northerly, to a point on the northerly right-of-way line of West Van Buren Street, said point being on the west right-of-way line of the John F. Kennedy Expressway; thence northerly, along said west right-of-way line of the John F. Kennedy Expressway, to the north right-of-way line of west Jackson Boulevard; thence east, along said north right-of-way line of west Jackson Boulevard, to the east line of the west 29 feet of Lot 6 in Blanchard's Subdivision of Block 3 of School Section Addition to Chicago of said Section 16; thence north, along said east line of the jyest 29 feet of said Lot 6 and its northerly extension to the north right-of-way line of West"Quincy Street at a point on-the south4ine of-Lot 3 in-said Blanchard's Subdivision; thence east along said north right-of-way line of West Quincy Street, to a point on the south line of Lot 3, 42 feet east of the southwest corner thereof; thence northeasterly to a point on the north line of said Lot 3 in said Blanchard's Subdivision, 58 feet east of the northwest corner thereof, said point also being on the south right-of-way line of West Adams Street; thence northwest to a point on the north right-of-way line of said West Adams Street, said point being on the south line of Lot 6 in Block 2 of School Section Addition to Chicago of said Section 16, 20 feet east of the southwest corner thereof; thence northeasterly to a point on the north right-of-way line West Marble
23324
JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
Place, said point being on the south line of Lot 3 in Block 2 of School Section Addition to Chicago of said Section 16, 45 feet east of the southwest corner thereof; thence west, along the south line of said Lot 3 in Block 2, to the east line of the west 15 feet of said Lot 3 in Block 2; thence north, along the east line of the west 15 feet of said Lot 3 in Block 2, to the north line of said Lot 3 in Block 2 and also being on the south right-of-way line of West Monroe Street; thence west, along said south right-of-way line of West Monroe Street, to the west right-of-way line of the John F. Kennedy Expressway; thence northerly, along said west right-of-way line of the John F. Kennedy Expressway, to the north right-of-way line of West Lake Street; thence west, along said north right-of-way line of West Lake Street, to the point of beginning, in Cook County, Illinois.
(Sub)Exhibit 2. (To Near West Area Tax Increment Finance Program Eligibility Study)
Building Permit Requests.
Date PermitNumber 1/5/95 816971 2/6/95 799483
3/23/95 ' 801349
3/31/95
4/11/95 4/21/95 5/4/95
801802
802271 802843 803541
Address
843 West Washington Boulevard
840 West Washington Boulevard
843 West Washington Boulevard-------- -
769 West Jackson Boulevard
28 North Halsted Street 847 West Adams Street 212 South Halsted Street
Investment $ 21,500 2,000 21,000
10,000
200,000 4,000 500,000
6/10/96
REPORTS OF COMMITTEES
23325
Date
5/8/95
7/3/95
8/9/95
9/27/95
9/26/95
11/24/95
3/23/94
3/25/94
3/31/94
4/4/94
4/4/94
4/5/94
4/7/94
4/19/94
5/24/94
6/15/94
6/17/94
6/30/94
7/1/94
7/11/94
8/5/94
8/10/94
Permit Number 803725
807074 809282 811999 811915 815283 783046
783200 783550 783615 783566 783645 783831 784426 786486 787580 787794
788486 788533 789004 789792 790313
Address Investment
810 West Washington $139,342 Boulevard
166 North Green Street 50,000
104 North Halsted Street 4 -C 10,000
212 South Halsted Street " 350,000
123 South Green Street - 70,000
314 South Halsted Street , 65,000
932 West Washington * 102,000 Boulevard
120 North Green Street ' "45,000
14 North Peoria Street » 40,000
845 West Madison Street , 0
845 West Madison Street ;; * 0
832 West Randolph Street . 250,000
845 West Madison Street 25,000
843 West Van Buren Street 20,000
334 South Halsted Street 10;000
832 West Randolph Street 30,133
822 West Washington 12,000
- Boulevard-------5----------
815 West Van Buren Street 110 North Peoria Street 832 West Randolph Street 845 West Madison Street 845 West Madison Street
" 150 70,000 0 0
310,000
23326
JOURNAL-CITY COUNCIL-CHICAGO
6/10/96
Date
Permit Number
Address
Investment
8/24/94 8/25/94 8/26/94
9/12/94
10/7/94
10/31/94 11/1/94
11/9/94
12/6/94
12/14/94
1/27/93
1/28/93
3/31/93
5/7/93
6/2/93
6/18/93-
6/18/93
6/23/93
7/12/93 8/5/93
791406 791458 791339
792196
793938
795186 795329
795868 797203 797666 764863 764893 767223 768995
770146 770918 770917
771123
771914 773142
11 North Green Street r $ 52,500
845 West Madison Street - 20,000
820 West Jackson 105,000 Boulevard
901 West Jackson 30,000 Boulevard
820 West Jackson 0 Boulevard
112 South Halsted Street 3,248
850 West Jackson 190,000 Boulevard
812 West Van Buren Street 20,000
800 West Randolph Street 65,000
910 West Madison Street 70,000
14 North Peoria Street 20,000
200 South Peoria Street 57,000
314 South Halsted Street r 15,000
849 West Washington 0 Boulevard
801 West Randolph Street 15,000
-801-WestA;dams-Street- -------20,000-
833 West Washington 16,200 Boulevard
845 West Washington 21,000 Boulevard
14 North Peoria Street 725,000
845 West Madison Street 200,000
6/10/96
REPORTS OF COMMITTEES
23327
Date
Permit Number
Address
Investment
8/5/93
8/26/93
9/20/93
10/6/93
10/22/93
11/12/93
12/13/93
12/28/93
773138 774228 775372 776339 777239 778217 779567
780054
TOTAL:
845 West Madison Street $ 200,000
815 West Van Buren Street 20,000
833 West Randolph Street / 90,000
123 South Green Street 40,000
14 North Peoria Street. 114,000
845 West Madison Street 3,100,000
820 West Jackson 195,000 Boulevard
815 West Van Buren Street . 45,000
$8,004,070
Exhibit "D".
Redevelopment Project Area And Legal Description.
The legal description of the Near West Redevelopment Project Area includes the legal description of the Original Redevelopment Project Area combined~Mth"theTegaM
Legal Description Of The Original Redevelopment Project Area:
beginning at the southeast corner of West Madison Street and South Green Street; thence southerly to the southeast corner of South Green Street and West Monroe Street; thence westerly to a southwest corner of South Sangamon Street and West Monroe Street; thence northerly
(Continued on page 23341)
23328
JOURNAL-CITY COUNCIL-CHICAGO
6/10/96
(Sub)Exhibii 3. (To Near West Area Tax Increment Finance , Program Eligibility Study)
City of Chicago ■
Near West-eligibility Study_
EXHIBIT 3 CONSERVATION FACTORS
PIN* AGE 1 2 3 4 S 6 7 8 9 10 11 12 13 14
17-08-433 X - xx-. x x x x x x '
17-08-434 x xx.x X x x x x'
17-08-441 xxxx -X X xx
17-08-442 x xxx- x x x xx
17-08450 x xx. X x x
17-09-318 x xxx x. x xx
17-09-319 x xx.x. x ,x x ' xx
17-09-327 x xxx x x -x x
17-09-328 x xx.x' x . x x' x
17-09-336 ' '" ,xx
17-09-337 -. . xx
17-16-100 x x x xx
17-16-105 . . x . x
17-16-109 ." _ x ' x
17-16-110 x xxx' , x . x x
17-16-116 x xx x x x'
17-16-117 x ' x x xx
17-16-122 ' .'.,'...>'
17-17-209 x '...' x
17-17-214 x, x x x' x x
17-17-215 xxx- x xx
x.
X
17-17-221 x x xx x x "x x
17-17-222 x x x x x x x.
17-17-228 x. x- x x x xx
17-17-238 x x
1 DILAPIDATION
2 OBSOLESCENCE
3 DETERIORATION
4 ILLEGAL USE OF INDIVIDUAL STRUCTURES
5 PRESENCE OF STRUCTURES BELOW MINIMUM CODE
6 ABANDONMENT ■ , . . * EXCESSIVE VACANCIES
~8""OVERCROWDING---------------------~.---------
9 LACK OF VENTILATION. LIGHT OR SANITARY FACILITIES
10 INADEQUATE UTILITIES
11 EXCESSIVE LAND COVERAGE
12 DELETERIOUS LAND-USE OR LAYOUT
13 DEPRECIATION OF PHYSICAL MAINTENANCE
14.LACK OF COMMUNITY PLANNING
6/10/96
REPORTS OF COMMITTEES
23329
Map I., ,
(To Near "West Area Tax Increment Finance Program Eligibility Study)
23330
JOURNAL-CITY COUNCIL-CHICAGO
6/10/96
Map 2.
(To Near West Area Tax Increment Finance Program Eligibility Study)
6/10/96
REPORTS OF COMMITTEES
23331
Map 3.
(To Near West Area Tax Increment Finance Program Eligibility Study)
ELIGIBILITY STUDYMM MAP 3 :■. M MAblSON - RACINE TIF
>n_____DISTRICT AND
-<T =- URBAN RENEWAL «^ BOUNDARIES
23332
JOURNAL-CITY COUNCIL--CHICAGO . 6/10/96
Map 4.
(To Near West Area Tax Increment Finance Program Eligibility Study)
ELIGIBILITY STUDY MAP 4 AGE
(.
REPORTS OF COMMITTEES
23333
Map 5.
(To Near West Area Tax Increment Finance Program Eligibility Study)
ELIGIBILITY STUDY MAP 5 DILAPIDATION
j -
23334 JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
Map 6.
(To Near West Area Tax Increment Finance Program Eligibility Study)
m uttrsmrr
-IE
■SMMfs
EE
El!
*
III
ELIGIBILITY STUDY MAP 6 OBSOLESCENCE
REPORTS OF COMMITTEES 23335
Map 7 .
(To Near West Area Tax Increment Finance Program Eligibility Study)
23336
JOUPvNAL--CrTY COUNCIL-CHICAGO
6/10/96
Map 8.
(To Near West Area Tax Increment Finance Program Eligibility Study)
6/10/96
REPORTS OF COMMITTEES
23337
Map 9.
(To Near West Area Tax Increment Finance Program Eligibility Study)
ELIGIBILITY STUDY MAP 9 LACK OF VENTILATION, LIGHT Oft SANITARY
-l t
23338 JOURNALCITY COUNCIL-CHICAGO 6/10/96
Map 10.
(To Near West Area Tax Increment Finance Program Eligibility Study)
ELIGIBILITY STUDY
MAP 10 EXCESSIVE LAND COVERAGE
6/10/96
REPORTS OF COMMITTEES
23339
Map 11.
(To Near West Area Tax Increment Finance Program Eligibility Study)
23340 JOUPvNAL--CITY COUNCILS-CHICAGO
6/10/96
Map 12:
(To Near West Area Tax Increment Finance Program Eligibility Study)
6/10/9.6
REPORTS OF COMMITTEES
23341
(Continued from page 23327)
to the southwest corner of West Madison Street and South Sangamon Street; thence westerly to the southeastern corner of West Madison - Street and South Morgan Street; thence southerly-to the southeast corner of South Morgan Street and West Monroe Street; thence . westerly to the southwest corner of South Aberdeen Street and West Monroe Street; thence northerly to the southwest corner of West Madison Street and South Aberdeen Street; thence westerly to a point in the west line, produced south of North May Street; thence northerly to the northwest corner of West Randolph Street and North May Street; thence easterly to the northeast corner of West Randolph Street and North Carpenter Street; thence southerly to the northeast corner of North Carpenter Street and West Washington Street; thence easterly to the northeast corner of North Peoria Street and West Washington Street; thence southerly to the northeast corner of West Madison Street and North Peoria Street; thence easterly to the northeast corner of West Madison Street and North Green Street; thence southerly to the point of beginning.
This area includes:
Block 17-08-448 of which a part is a part of S.F. Gale's Subdivision of Block 52 of Carpenter's Addition to Chicago (recorded February 29, 1872 Document Number 15649) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14, recorded August 31, 1836); and of which a part is also a part of William Hale Thompson's Subdivision of Lots 17 to 26, inclusive, in S.F. Gale's Subdivision of Block 52 of Carpenter's Addition to Chicago (recorded July 21, 1890 Document Number 1306568) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836).
Also
Block 17-08-447 of which a part is a part of Block 51 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836 (Ante Fire)); and of which a part is also a part of Assessor's Second Division of the east half of Lot 3, all of Lots 1, 2, 7, 8, 11, 12, 15, 16, 17 and 18 of Block 51 of Carpenter's Addition to Chicago (recorded November 29, 1872, Document Number 71687 and recorded October 1,1875, Document 51466); and of which a part is also a part of H.C. Van Schaak's Subdivision of Lot 7 (except the north 20 feet) in Block 51 of Carpenter's Addition to Chicago (recorded October 27,1885, Document Number 664546).
23342 JOURNAL-CITY COUNCIL-CHICAGO 6/10/96
Also
Block 17-08-446 of which a part is a part of Block 50 of Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836 (Ante-Fire)); and of-which a part is a part of Assessor's Division of Lots 1 to 9 in Block 50 of Carpenter's Addition to Chicago (recorded July 30,1859 (Ante-Fire)).
Also
Block 17-08-437 which is part of Block 42 Carpenter's Addition to Chicago, being a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31,1836 (Ante-Fire)).
Also
Block 17-08-436 of which is part of William J. Bunker's Subdivision of Block 43 of Carpenter's Addition to Chicago (recorded July 1,1848 (Ante-Fire)) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14) recorded August 31, 1836 (Ante-Fire)).
Also
Block 17-08-444, of which a part is a part of resubdi vision of Block 48 of Carpenter's Addition to Chicago (recorded February 17, 1857 (Ante-Fire)) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836); and which a part is a part of C.W.Cook's Subdivision of Lots 1 to 5 of Block 48 of Carpenter's Addition to Chicago (Ante-Fire) (which said Carpenter's Addition is a subdivision of the southeast quarter of Section.8=39-14., (recorded August 31,1_836))._
Also
Block 17-08-445 of which a part is a part of Block 49 of the Carpenter's Addition to Chicago, a subdivision of the southeast quarter of Section 8-39-14 (recorded August 31, 1836 (Ante-Fire));and of which a part is a part of the subdivision of the west 100
6/10/96
REPORTS OF COMMITTEES
23343
feet of Lot 6 of Block 49 of Carpenter's Addition to Chicago (recorded September 13,1875, Document 48790).
Also
Block 17-17-208 of which is Block 2 of Duncan's Addition to Chicago, being a subdivision of the east half of the northeast'quarter of Section 17-39-14 (Ante-Fire)).
Also
Block 17-17-207 which is a part of Block 3 of Duncan's Addition to Chicago, a subdivision of the east half of the northeast quarter of Section 17-39-14 (Ante-Fire); and of which a part is a "part of subdivision of Lots 15 and 16, Block 3, Duncan's Addition to Chicago (Ante-Fire). ■ »
Also.
Block 17-17-203 which is apart of the subdivision of Block Tof Canal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago, (recorded August 13,1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section 17-39-14 (recorded .August 31, 1848 (Ante-Fire)); and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14 (recorded April 29,1836 (Ante-Fire)). * .
Also
of Canal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and;the west half of the northeast quarter of Section 17-39-14; and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14); and of which a part is also a part of the subdivision of the interior part of Block 1 of Canal Trustee's Subdivision (recorded April 8,1857 (Ante-Fire)) and of which a part is also a part of Holden's Plat of parts of Block 5 of Duncan's Addition and part of Block 1 of Canal Trustee's Subdivision (Ante-Fire).
23344 JOURNAL--CITY COUNCIL- CHICAGO 6/10/96
Also
Block 17-17-205 of which, a part is a part of the subdivision of Block 1 ofCanal Trustee's Subdivision and of Block 5 of Duncan's Addition to Chicago (recorded August 13, 1853 (Ante-Fire)) (which said Canal Trustee's Subdivision is a subdivision of the west half and the west half of the northeast quarter of Section 17-39-14 (recorded August 31, 1848 (Ante-Fire)), and which said Duncan's Addition is a subdivision of the east half of the northeast quarter of Section 17-39-14 (recorded April 29, 1836 (Ante-Fire)); and of which a part is a part of CC J5. Holden's Resubdivision of Lots 33, 34, and 35 of Block 1 of Canal Trustee's Subdivision (Ante-Fire).
Added Area Legal Description.
That part of the southeast quarter of Section 8 and part of the southwest quarter of Section 9 and part of the northwest quarter of Section 16 and part of the northeast quarter of Section 17, Township 39 North, Range 14 East of the Third Principal Meridian, described as follows :
beginning at the intersection of the north right-of-way of West Lake Street, with the west right-of-way line of North Peoria Street; thence south along said west right-of-way line of North Peoria Street to the north right-of-way line of West Washington Street; thence east along said north right-of-way line of West Washington Street, to the east right-of-way line of North Peoria Street; thence south along said east right-of-way line of North Peoria Street, to the south right-of-way line of West Washington Street; thence east along said south right-of-Way line of West Washington Street to the west right-of-way line of North Green Street; thence south along said west right-of-way line of North Green Street, to the north right-of-way line of West Madison Street,; thence east along said north right-of-way line of West Madison Street to the east right-of-way line of North Green Street; thence south along said east right-of-way line of North Green Street and the east right-of-way line of South Green Street to the south right-of-way line of West Monroe Street; thence west along said "soutbright-of-wayhne of West-Monroe Street.to.t^ of South Peoria Street; thence south along said east right-of-way" line of South Peoria Street to the north right-of-way line of West Adams Street; thence east along said north right- of- way fine of West Adams Street to the southeast corner of Lot 9 in Block 9 in Duncan's Addition to Chicago, being a subdivision of the east half of the northeast quarter of said Section 17, also being a point in the centerline of Block 9; thence south along the centerline of Block 12 in said Duncan's Addition to Chicago and its northerly and southerly extensions to the south right-of-way line of West Jackson Boulevard; thence east along said south right-of-way line of West Jackson Boulevard, to the west right- of- way line of South Green Street;
6/10/96
REPORTS OF COMMITTEES
23345
thence south, along said west right-of-way line of South Green Street to the northerly right-of-way line of the Dwight D. Eisenhower Expressway; thence easterly along said northerly right-of-way line of the Dwight D. Eisenhower Expressway to a point on the south line of Lot 2 in Block 21 in said Duncan's Addition to Chicago, said point being 17.00 feet east of the southwest corner of said Lot 2; thence east along the south line of said Lot 2 to the southeast corner thereof, said point being on the west right-of-way line of South Halsted Street; thence east to the southwest corner of Lot 17 in J.A. Yale's Subdivision of Block 5 of School Section Addition to Chicago of said Section 16, said point being oh the east right-of-way line of South Halsted Street; thence east along the south line of Lots 17 through 13, inclusive, in said J A Yale's Subdivision, to a point on the east line of the west 5.00 foot line of Lot 13 in said J.A. Yale's Subdivision; thence north along said east line of the west 5.00 feet of Lot 13, to the south right-of-way line of West Van Buren Street; thence northerly to a point on the northerly right-of-way line of West Van Buren Street, said point being on the west right-of-way line of the John F. Kennedy Expressway; thence northerly along said west right-of-way line of the John F. Kennedy Expressway to the north right-of-way line of West Jackson Boulevard; thence east along said north right-of-way line of West Jackson Boulevard to the east line of the west 29 feet of Lot 6 in Blanchard's Subdivision of Block 3 of School Section Addition to Chicago of said Section 16; thence north along said east line of the west 29 feet of said Lot 6 and its northerly extension to the north right-of-way line of West Quincy Street at a point on the south line of Lot 3 in said Blanchard's Subdivision; thence east along said north right-of-way line of West Quincy Street to a point on the south line of Lot 3, 42 feet east of the southwest corner thereof; thence northeasterly to a point on the north line of said Lot 3 in said Blanchard's Subdivision, 58 feet east of the northwest corner thereof, said point also being on the south right-of-way line of West Adams Street; thence northwest to a point on the north right-of-way line of said West Adams Street said point being on the south line of Lot 6 in Block 2 of School Section Addition to Chicago of said Section 16, 20 feet east of the southwest corner thereof; thence northeasterly to a point on the north right-of-way line of West Marble Place, said point being on the south line of Lot 3 in Block 2 of School Section Addition to Chicago of said Section 16, 45 feet east of the southwest corner thereof; thence west, along the south line of said Lot 3 in Block 2, to the east line of the west 15 feet of said Lot 3 _in~Block 2; thence-nortbralong the east-line of-the-west-15 feet of-said-Lot 3 in Block 2, to the north line of said Lot 3 in Block 2 and also being on the south right-of-way line of West Monroe Street; thence west, along said south right-of-way line of West Monroe Street, to the west right-of-way line of the John F. Kennedy Expressway; thence northerly, along said west right-of-way line of the John F. Kennedy Expressway, to the north right-of-way line of West Lake Street; thence west, along said north right-of-way line of West Lake Street, to the point of beginning, in Cook County, Illinois.
59238
JOURNALCITY COUNCIL-CHICAGO 6/6/2001
SECTION 3. Approval Of Amendment Number 2 To Plan. The "Near West Tax Increment Redevelopment Area Redevelopment Plan and Project Amendment Number 2", a copy of which is attached hereto as Exhibit A (the "Amendment Number 2") is hereby approved.
SECTION 4. Finding. The Corporate Authorities hereby find that the estimated dates of completion of (a) the redevelopment project described in the Plan, as amended by Amendment Number 2, and Section 2 of this ordinance, and (b) the retirement of obligations issued to finance redevelopment project costs set forth in the Plan, as amended by Amendment Number 2, and in Section 2 of this ordinance, conform to the provisions of Section 1 l-74.4-3(n)(3) of the Act, as amended by the Amendatory Act.
SECTION 5. Invalidity Of Any Section. If any provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such provision shall not affect any of the remaining provisions of this ordinance.
SECTION 6. Supersedes All ordinances (including, without limitation, the T.I.F. Ordinances and the Expanded Area T.I.F. Ordinances), resolutions, motions or orders in conflict with this ordinance are hereby repealed to the extent of such conflicts.
SECTION 7. Effective Date. This ordinance shall be in full force and effect immediately upon its passage.
Exhibit "A" referred to in this ordinance reads as follows:
Exhibit "A".
Amendment Number 2 To Near West Redevelopment Project Area Tax Increment Finance Program Redevelopment Plan And Project.
1. The second paragraph under Section E, "Sources Of Funds To Pay Redevelopment Project Costs", is amended to read as follows:
Incremental property tax revenue is attributable to the increase in the current equalized assessed value of each taxable lot, block, tract or parcel of real property in the Near West Redevelopment Project Area over and above the initial equalized assessed value of each such property in the Near West Redevelopment
6/6/2001
REPORTS OF COMMITTEES
59239
Project Area. Without the use of such tax incremental revenues, the Near West Redevelopment Project Area would not reasonably be anticipated to be developed.
2. The second paragraph in the subsection entitled, "Issuance of Obligations", under Section E, "Sources Of Funds To Pay Redevelopment Project Costs", is amended to read as follows:
All obligations issued by the City pursuant to this Near West Redevelopment Plan and Project and the Act shall be retired no later than December 31 of the year in which the payment to the municipal treasurer as provided in Section 11-74.4-8(b) of the Act is to be made with respect to ad valorem taxes levied in the twenty-third (23rd) calendar year after the year in which the ordinance approving the Original Redevelopment Project Area was adopted, such ultimate retirement date occurring on December 31,2013. Also, the final maturity date of any such obligations which are issued may not be later than twenty (20) years from their respective dates of issue. One (1) or more series of obligations may be sold at one (1) or more times in order to implement this Near West Redevelopment Plan and Project. The amounts payable in any year as principal and interest on all obligations issued by the City pursuant to the Near West Redevelopment Plan and Project and the Act shall not exceed the amounts available, or projected to be available, from tax increment revenues and from such bond sinking funds or other sources of funds (including ad valorem taxes) as may be provided by ordinance. Obligations may be of a parity or senior/junior lien natures. Obligations issued may be serial or term maturities, and may or may not be subject to mandatory, sinking fund or optional redemptions.
3. The section entitled "Phasing And Scheduling Of Redevelopment", is amended to read as follows:
A phased implementation strategy will be utilized to achieve a timely and orderly redevelopment of the Near West Redevelopment Project Area. City expenditures for Redevelopment Project costs will be carefully staged on a reasonable and proportional basis to coincide with expenditures in redevelopment by private developers. The estimated date for completion of the Redevelopment Project is no later than December 31, 2013.
59240
JOURNAL-CITY COUNCIL-CHICAGO 6/6/2001
4. The second paragraph in the Subsection F entitled, "Nature and Term of Obligations to be Issued", under Section V, "Redevelopment Project", in Attachment 2, Tax Increment Redevelopment Area (T.I.F.) Madison/Racine Redevelopment Plan and Project is amended to read as follows:
All obligations issued by the City pursuant to this Redevelopment Plan and Project and the Act shall be retired no later than December 31 of the year in which the payment to the municipal treasurer as provided in Section 1 l-74.4-8(b) of the Act is to be made with respect to the ad valorem taxes levied in the twenty-third (23rd) calendar year after the year in which the ordinance approving the R.P.A. was adopted, such ultimate retirement date occurring on December 31, 2013. However, the final maturity date of any obligations issued pursuant to the Act may not be later than twenty (20) years from their respective dates of issuance. One (1) or more series of obligations may be issued from time to time in order to implement this Redevelopment Plan and Project. All obligations are to be covered after issuance by projected and actual tax increment, other tax revenue and by such debt service revenues and sinking funds as may be provided by ordinance. The total principal and interest payable in any year on all obligations shall not exceed the amounts available in that year, or projected to be available in that year, from tax increment revenues and from bond sinking funds, capitalized interest, debt service reserve funds and all other sources of funds as may be provided by ordinance.
5. The Section VII entitled, "Scheduling Of The Redevelopment Project", in Attachment 2, Tax Increment Redevelopment Area (T.I.F.) Madison/Racine Redevelopment Plan and Project is amended to read as follows:
A. Completion of Redevelopment Project and Retirement of Obligations to Finance Redevelopment Costs.
This Redevelopment Project will be completed on or before December 31, 2013. The City expects that the Redevelopment Project will be completed sooner than the maximum time limit set by the Act, depending on the incremental real property tax yield. Actual public iand/or private construction activities are anticipated to be completed within ten (10) years from the adoption of this Redevelopment Plan.
Table 1. Estimated Redevelopment Project Costs
Program Action / Improvements Estimated Costs (2011) [1] |
Land Acquisition $ 24,300,000 |
Site Preparation/Environmental $ 975,000 |
Remediation / Demolition |
$ 1,950,000 |
Rehabilitation |
$ 975,000 |
Public Improvements |
$ 8,280,000 |
Job Training |
$ 5,850,000 |
Interest Subsidy |
$ 5,850,000 |
Planning, Legal, Professional |
$ 1,950,000 |
Relocation |
$ 1,460,000 |
Capitalized Interest $ 13,600,000 Contingency $ 975,000 |
Total Project Costs [2][3] $ 66,300,000 |
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[1] All costs are in 2011 dollars
[2] Total Project Costs exclude any additional financing costs, including any interest expenses, capitalized interest, and costs associated with optional redemptions. These costs are subject to prevailing market conditions and are in addition to Total Project Costs.
[3] The amount of the Total Project Costs that can be incurred in the project area will be reduced by the amount of redevelopment project costs incurred in contiguous redevelopment project areas, or those separated from the Redevelopment Project Area only by a public right-of-way, that are permitted under the Act to be paid, and are paid, from incremental property taxes generated in the Project Area, but will not be reduced by the amount of redevelopment project costs incurred in the Project Area which are paid from incremental property taxes generated in contiguous redevelopment project areas or those separated from the Project Area only by a public right-of-way
Additional funding from other sources such as federal, state, county, or local grant funds may be utilized to supplement the City's ability to finance Redevelopment Project Costs identified above.
Provision for Amending Action Plan No Change
Phasing and Scheduling of Redevelopment No Change.
Summary of Equalized Assessed Valuation No Change.
Maps j No Change.
Attachment 1 No Change.
Attachment 2 No Change.
If you wish to review the Plan, or obtain further information concerning the Plan or the corrections of the Plan, please contact Paul Zalmezak at the Department of Housing and Economic Development Suite 1006, 121 N. LaSalle Street, Chicago, Illinois, (312) 744-9768 during the hours of 9:00 a.m. until 5:00 p.m., Monday through Friday.
Andrew J. Mooney
DEPARTMENT OF HOUSING AND ECONOMIC DEVELOPMENT City of Chicago
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EXHIBIT 2-PLAN See attached.
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EXHIBIT 1-AMENDMENT
Near West Redevelopment Project Area Tax Increment Financing District Eligibility Study and Redevelopment Plan
Amendment No. 3 Notice of Change to the Redevelopment Plan and Project
June 2011
NOTICE is hereby given by the City of Chicago of amendments to the Near West Tax Increment Financing Redevelopment Plan and Project (the "Plan"), which included the Near West Tax Increment Financing Eligibility Report as an exhibit.
To induce redevelopment pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCD 5/11-74.4-1 et seq. ,as amended from time to time (the "Act"), the City Council of the City of Chicago, (the "City") adopted three ordinances on June 10, 1996, approving the Plan, designating the Near West Redevelopment Project Area (the "Redevelopment Project Area") as a redevelopment project area under the Act, and adopting tax increment allocation financing for the Redevelopment Project Area. The Plan was previously amended pursuant to an ordinance adopted by the City Council of the City on June 6, 2001 in order to change, pursuant to P.A. 91-478, the dates of completion of the redevelopment project described in the Plan.
The Plan is being amended again now to increase the budget. This amendment to the Plan is outlined below following the format of the Plan.
Forward No Change.
Introduction No Change.
Redevelopment Project Area and Legal Description No Change.
Conservation Area Conditions Existing in the Near West Redevelopment Project Area No Change
Near West Redevelopment Plan and Project Section D. Estimated Redevelopment Project Costs
Table 1 is replaced with the following table:
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CORPORATION COUNSEL