Ordinance O2025-0015980
Active
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 Douglass Park, 1401 S Sacramento Dr
Auto-generated summary
Under the Tax Increment Allocation Redevelopment Act, the City of Chicago and the Chicago Park District are financing redevelopment projects, including Donovan Park renovations, within a designated Redevelopment Area. TIF-Funded Improvements, detailed in a project budget (Exhibit A), will be implemented. The City Council and the Park District plan an intergovernmental agreement, approved by the City’s Corporation Counsel. This ordinance, authorized under the 1970 Constitution of the State of Illinois, supersedes any conflicting provisions in the Municipal Code of Chicago and was published in the Journal of Proceedings for the City Council.
