Ordinance O2024-0007875
Passed
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
First amendment to intergovernmental agreement with Chicago Park District to provide tax increment financing (TIF) funds for construction of Park 599 at 1623 W Edgewater Ave
Auto-generated summary
The City of Chicago and the Chicago Park District, under the Tax Increment Allocation Redevelopment Act, authorized the use of the Edgewater/Ashland Increment for constructing Park 599. The Department of Planning and Development, led by the Commissioner, seeks to reallocate an additional $450,000 from the Increment, pending approval from the Corporation Counsel. This leads to a First Amendment to the intergovernmental agreement, overriding any conflicting provisions in the Municipal Code of Chicago.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |