Ordinance O2023-0001361
Passed
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
Approval of Amendment No. 3 to Fullerton/Milwaukee Tax Increment Financing (TIF) Redevelopment Project and Plan
Auto-generated summary
Mayor Brandon Johnson presents to the Chicago City Council an ordinance for Amendment Number 3 to the Fullerton/Milwaukee TIF Redevelopment Project, approved under the Tax Increment Allocation Redevelopment Act. The amendment, influenced by the HB2518 Bill, extends the project's completion date to December 31, 2027, allows a 5% cost increase, and outlines the Estimated Redevelopment Project Costs. The ordinance, governed by the Corporate Authorities, envisions a phased implementation strategy and takes effect upon the Bill becoming law.
Alternate identifiers: O2023-2313
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |