NOTICE is hereby given that on July 25, 2024 at 6:30 pm, the Department of Planning and Development of the City of Chicago (the "City") will hold an in-person public meeting at the Boys & Girls Club of Chicago, 2915 North Leavitt, regarding the approval of a redevelopment plan for the Diversey/Chicago River Project Area Amendment No. 1, more fully described below (the "Area"), designation of the Area as a redevelopment project area as defined in the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"), and use of tax increment allocation financing pursuant to the Act to finance all or a portion of redevelopment project costs proposed to be paid or incurred for the Area pursuant to the Plan. A street boundary description of the Area is attached hereto as Exhibit 1 and a map showing such street boundaries is attached hereto as Exhibit 2.
The City aims to encourage redevelopment in the Area, enhance the tax base of the City and other affected taxing districts by encouraging private investment in the Area, and to preserve and enhance the value of properties therein. To accomplish these goals, the proposed Redevelopment Plan provides that the City may carry out certain public improvements in the Area, enter into redevelopment agreements for the construction of public and private improvements, finance a portion of the costs of such improvements and other eligible redevelopment project costs using funds from the special tax allocation fund described in the
Act, and issue one or more series of obligations secured by such funds.
At the public meeting, any interested person or representative of an affected taxing district may be heard orally and may file, with the person conducting the meeting, statements that pertain to the subject matter of the meeting.
For further information, and to submit comments and suggestions regarding the Area, please contact the Department of Planning and Development, ATTENTION: Will Stewart Telephone: (312) 744-2075
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