Ordinance O2024-0013055
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 Chicago Vocational Career Academy High School, 2100 E 87th St
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The City of Chicago finances redevelopment projects under the Tax Increment Allocation Redevelopment Act. The Board of Education's school improvements, funded by the 'Redevelopment Area Increment', are approved by the City Council, including a Project Budget, and financed via TIF Ordinances. An intergovernmental agreement, similar to a prior Form Agreement, will be executed, subject to the City’s Corporation Counsel's approval. This ordinance overrides conflicting provisions in the Municipal Code of Chicago and takes effect upon passage and approval.
Sponsors
History
Locations mentioned
Legislation text
Additional Documents
- O2024-0013055 Committee Letter.pdf
- O2024-0013055 Exhibit A - Project.pdf
- O2024-0013055 Transmittal Letter.pdf