Ordinance O2024-0007872
Passed
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
Intergovernmental agreement with Chicago Park District to provide tax increment financing (TIF) funds for improvements at Bessemer Park at 8930 S Muskegon Ave
Auto-generated summary
On February 21, 2024, Chicago Mayor Brandon Johnson requested city council approval for ordinances to execute intergovernmental agreements, allocating TIF funds to the Chicago Park District for Park Projects. The Commissioner of Planning and Development's request includes a Project Budget and details TIF-Funded Improvements in Exhibit A. The funds, known as the Redevelopment Area Increment, are for projects within a designated Redevelopment Area. The agreements, similar to a Form Agreement, require approval by the City’s Corporation Counsel.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |