Ordinance O2024-0012432
Passed
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
Intergovernmental agreement with Chicago Board of Education for allocation of tax increment financing (TIF) funds for improvements at Thomas Chalmers STEAM Elementary School, 2745 W Roosevelt Rd
Auto-generated summary
Chicago's ordinance, under the Illinois School Code, empowers the Board of Education and the Public Building Commission to use the Tax Increment Allocation Redevelopment Act for redevelopment projects. The City Council's TIF Ordinances designate a Redevelopment Area, with taxes forming the Redevelopment Area Increment. The Department of Planning and Development uses this for TIF-Funded Improvements, as detailed in the Project Budget. An intergovernmental agreement for Jacob Beidler Elementary School is approved, with the Commissioner of Planning and Development and the City’s Corporation Counsel authorized to execute it, superseding conflicting provisions in the Municipal Code of Chicago.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |
History
Locations mentioned
Legislation text
Additional Documents
- BOE Intergovernmental Agreement Transmittal Letter.pdf
- O2024-0012432 Committee Letter.pdf
- O2024-0012432 Exhibit A - Project.pdf