Ordinance O2023-0003025
Passed
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
Approval of Amendment No. 4 regarding tax increment financing (TIF) funds for expanded Northwest Industrial Corridor Redevelopment Project Area
Auto-generated summary
The Office of City Clerk in Chicago issued a document tracking an ordinance sponsored by Mayor Brandon Johnson concerning the adoption of Amendment No.4 for Tax Increment Allocation Financing in the Northwest Industrial Corridor Redevelopment Project Area. The ordinance, presented to the City Council on July 19, 2023, includes provisions for financing redevelopment project costs and outlines the allocation of taxes on real property to fund these costs. The Community Development Commission recommended its adoption, with attachments providing legal descriptions and maps of the Expanded Area. The text also provides detailed descriptions of the boundaries of the Northwestern Railroad right of way, various lots and subdivisions in the area north of Chicago Avenue, and a specific property associated with Iman Development Advisors, LLC, located in F. Harding's Subdivision.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |