Office of the City Clerk - Record #: O2021-5292

• Record #: O2021-5292
• Type: Ordinance
• Status: Passed
• Intro date: 11/17/2021
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 12/15/2021
• Title: Amendments and project revisions to redevelopment agreement with KMW Communities LLC regarding environmental remediation, establishment of escrow account, and affordable residential requirements
• Sponsors: Lightfoot, Lori E.
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
12/15/2021	42450	City Council	Passed	Pass
12/2/2021		Committee on Housing and Real Estate	Recommended to Pass
11/17/2021	40943	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

November 17, 2021










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner ofthe Department of Housing, I transmit herewith an ordinance authorizing the execution of an amended redevelopment agreement with KMW Communities LLC.

Your favorable consideration of this ordinance will be appreciated.


Very truly yours.

ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government pursuant to Article VII, Section 6(a) of the 1970 State of Illinois Constitution, and may exercise any power related to its local governmental affairs; and

WHEREAS, pursuant to an ordinance adopted by the City Council of the City ("City Council") on September 14, 2016, and published at pages 31250 through 31317 in the Journal of the Proceedings of the City Council of the City of Chicago ("Journal") of such date, the City and KMW Communities, LLC, an Illinois limited liability company (the "Developer"), entered into that certain Agreement for the Sale and Redevelopment of Land Agreement (the "Agreement") dated as of May 2, 2017, and recorded in the Office of the Clerk of Cook County, Illinois (the . "Clerk's Office"), on May 5, 2017, as Document No. 1712519058; and

WHEREAS, pursuant to the Agreement, the City agreed to convey four parcels of real property commonly known as 6221-23 S. Woodlawn and 6134-36 S. Woodlawn ("Parcel 1"). 6223-33 S. Greenwood ("Parcel 2"), 6218-26 S. Woodlawn ("Parcel 3") and 6206-08 S. Greenwood ("Parcel 4") (collectively, the "Project Property") in phases to the Developer for Four Hundred Sixty-One Thousand Five Hundred and No/100 Dollars ($461,500), which is a write­down of One Hundred Thousand and No/Dollars ($ 100,000) from the Project Property's appraised fair market value; and

WHEREAS, pursuant to the Agreement, the Developer is required to develop a four phase (each such phase, "Phase") scattered-site h...