Redevelopment agreement with and provision of Tax Increment Financing (TIF) funds to Hudson Michigan Avenue Owner LLC for construction of varied income residential units, commercial, retail and event space at 2222 S Michigan Ave

Legislation tracker › Finance

• Record number: O2023-0002232
• Type: Ordinance; category: Tax Increment Financing Districts
• Status: Final (Passed)
• Sponsor: Lightfoot, Lori E.
• Committee: Committee on Finance
• Submitted Date: Jun 30, 2023
• Introduction Date: Jul 19, 2023
• Final Action Date: Jul 19, 2023
• Official record: Office of the City Clerk

Timeline

• Apr 19, 2023: Referred, City Council. The matter was referred.
• Jul 17, 2023: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body
• Jul 19, 2023: Passed, City Council (49 yea, 0 nay), at the City Council meeting. On motion of Alderperson Dowell, and unsuccessful motion reconsider by Alderperson Mitchell, the matter was Passed.

Documents

• O2023-0002232 Letter.pdf (Committee Letter)
• O2023-0002232 EDS.pdf (EDS)
• O2023-0002232 Exhibit 1 - Form of Redevelopment Agreement.pdf (Exhibits)
• O2023-0002232 Ordinance.pdf (Legislation)

Related legislation

More from Lightfoot, Lori E.

• Restructuring agreement with Renaissance Partners Limited Partnership, Renaissance Partners Corporation for additional financial… (O2023-0001294, introduced Jun 21, 2023, Passed)
• Redevelopment agreement with and provision of tax increment financing (TIF) funds to 221 E. 49th Street LLC for development of Overton… (O2023-0001318, introduced Jun 21, 2023, Passed)
• Amendment of Municipal Code Chapters 4-8 and 17-9 regarding licensing of urban farms and community gardens, and modifying Section 7-38-142… (SO2023-0002200, introduced Jun 21, 2023, Passed as Substitute)

More on Tax Increment Financing Districts

• Establishment of Tax Increment Financing (TIF) Neighborhood Improvement Program to provide TIF assistance for Home Repair Program (O2026-0029411, introduced Oct 14, 2026, Referred)
• Fourth amendment to Pilsen tax increment financing (TIF) redevelopment project and plan (O2026-0027139, introduced Jul 15, 2026, Passed)
• Designation of expanded Central West tax increment financing (TIF) redevelopment project area (O2026-0027301, introduced Jul 15, 2026, Passed)

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