The ordinance approves Amendment No. 2 to the Englewood Neighborhood Tax Increment Financing (TIF) Redevelopment Plan and Project. This amendment revises the expiration date of the redevelopment plan, extending the project's timeline to align with updated goals. The changes ensure compliance with recent legislative adjustments and allow for the continued support of community revitalization initiatives, including affordable housing developments and infrastructure improvements within the Englewood neighborhood.
This amendment provides extended financial support and administrative flexibility for redevelopment initiatives in the Englewood neighborhood. It facilitates the ongoing creation of affordable housing and essential infrastructure, contributing to the area's socio-economic revitalization.