Ordinance SO2024-0007864 - Chicago Councilmatic

Revised Redevelopment Agreement adjusting payout terms of tax increment financing [TIF] funds to Chicago Cooperative regarding project delays to redevelop 4620 N Broadway into full service grocery store

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Chicago's 2022 Original Ordinance facilitated a Redevelopment Agreement with Chicago Cooperative for a delayed 18,237 square-foot grocery store project at 4620 North Broadway, risking a $1,800,000 second payment from the Wilson Yard TIF Fund. The city and developer seek to amend the agreement for full $5,800,000 disbursement upon Certificate issuance, requiring a Revised Redevelopment Agreement.

Alternate identifiers: O2024-0007864

	Sponsor	Ward
	Johnson, BrandonPrimary Sponsor

History

Date

Legislative body

Action

Date 2024-03-21

Legislative body Chicago City Council

Action Signed

Date 2024-03-20

Legislative body Chicago City Council

Action Passed

On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.

Votes for	Votes against	Other votes
Votes for Yes: 48 Beale, Anthony Burnett, Jr., Walter Chico, Peter Clay, Angela Coleman, Stephanie D. Conway, William Cruz, Ruth Curtis, Derrick G. Dowell, Pat Ervin, Jason C. Fuentes, Jessica L. Gardiner, James M. Gutierrez, Jeylu B. Hadden, Maria E. Hall, William E. Harris, Michelle A. Hopkins, Brian Knudsen, Timothy R. La Spata, Daniel Lawson, Bennett R. Lee, Nicole T. Lopez, Raymond A. Manaa-Hoppenworth, Leni Martin, Matthew J. Mitchell, Gregory I. Mitts, Emma Moore, David H. Mosley, Ronnie L. Napolitano, Anthony V. Nugent, Samantha O'Shea, Matthew J. Quinn, Marty Ramirez, Julia M. Reilly, Brendan Robinson, Lamont J. Rodriguez Sanchez, Rossana Rodriguez, Michael D. Scott, Monique L. Sigcho-Lopez, Byron Silverstein, Debra L. Sposato, Nicholas Tabares, Silvana Taliaferro, Chris Taylor, Jeanette B. Vasquez, Jr., Andre Villegas, Gilbert Waguespack, Scott Yancy, Desmon C.	Votes against	Other votes Not voting: 2 Not voting: Cardona, Jr., Felix Not voting: Ramirez-Rosa, Carlos

Date 2024-03-18

Legislative body Committee on Finance

Action Recommended to Pass

Date 2024-03-18

Legislative body Chicago City Council

Action Substituted

Date 2024-02-21

Legislative body Chicago City Council

Action Referred

Date 2024-02-21

Legislative body Chicago City Council

Action Introduced

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Ordinance SO2024-0007864 Passed

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