The City of Chicago approved an ordinance to provide tax increment financing (TIF) assistance for improvements to Homan Square Park. The Chicago Park District, an Illinois municipal corporation, owns the park and plans to undertake certain improvements. The City desires to use a portion of the Redevelopment Area Increment to fund these TIF-Funded Improvements, which are capital costs incurred by the Park District for the redevelopment project. The ordinance authorizes the Commissioner of Planning and Development to negotiate and execute an intergovernmental agreement between the City and the Park District for this purpose.