This ordinance authorizes the City of Chicago to enter into an intergovernmental agreement with the Chicago Park District to use tax increment financing (TIF) for improvements at Donovan Park. Under the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4 et seq.), the City will pay or reimburse the Park District for capital costs incurred for park renovations. The Department of Planning and Development may use a portion of the Redevelopment Area Increment, not to exceed the amount identified in Exhibit A, to fund eligible TIF-Funded Improvements. The agreement terms are substantially similar to the form attached as Exhibit A, ensuring compliance with statutory requirements. The ordinance defines TIF-Funded Improvements as public improvements within the Park District’s capital projects that directly result from the redevelopment plan. It also authorizes the Commissioner of Planning and Development to negotiate, execute, and deliver the agreement subject to Corporation Counsel approval. The ordinance applies to park property wholly within the designated Redevelopment Area and incorporates Exhibit A details by reference. Effective upon passage and approval, this measure secures the City’s commitment to revitalizing park infrastructure through authorized financing mechanisms.