Ordinance O2024-0014174
Passed
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
Issuance of tax increment financing (TIF) funds to LeClaire Courts North for residential housing development at 4400 S Cicero Ave
Auto-generated summary
The Chicago City Council adopted redevelopment ordinances for Cicero/Stevenson, Midway, and Cicero/Archer areas, establishing Transfer Rights and respective incremental taxes. The anticipated LeClaire Courts North project is subject to a Redevelopment Agreement. The TIF Fund, a segregated account, will receive up to $2,000,000 and $3,500,000 from Midway and Cicero/Archer Incremental Taxes respectively to support the project.
