This ordinance authorizes an intergovernmental agreement between the City of Chicago and the Chicago Park District to finance capital improvements at Donovan Park using tax increment allocation financing. Under the agreement, incremental ad valorem taxes collected within the designated redevelopment area will be used to reimburse the Park District for costs of park projects, including enhancements such as site infrastructure, landscaping, lighting upgrades, playground equipment, and other public amenities. The City’s Department of Planning and Development is authorized to use TIF funds, not to exceed the amount identified in Exhibit A, to pay or reimburse the Park District for these eligible redevelopment project costs. A detailed Project Budget and itemized list of TIF-Funded Improvements are each incorporated into Exhibit A of the ordinance. The agreement adopts substantially similar terms to a previously approved form agreement, substituting project-specific information for Donovan Park. The Commissioner of Planning and Development, subject to Corporation Counsel approval, is empowered to negotiate, execute, and deliver the intergovernmental agreement. The ordinance also provides that its provisions control over any conflicting provisions in the Municipal Code and takes effect upon passage and approval.