Office of the City Clerk - Record #: SO2014-6402

• Record #: SO2014-6402
• Type: Ordinance
• Status: Passed
• Intro date: 7/30/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 9/10/2014
• Title: Redevelopment agreement with Beverly Western Partners LLC for construction of commercial facility at 2342 W 107th St and 10633 S Western Ave
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
9/23/2014		City Council	Signed by Mayor
9/10/2014	86929	City Council	Passed	Pass
9/9/2014		Committee on Finance	Recommended to Pass
7/30/2014	84523	City Council	Referred

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CHICAGO September 10, 2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration
A communication recommending a proposed substitute ordinance concerning the authority to enter into and execute a Redevelopment Agreement with Beverly Western Partners,
LLC.

02014-6402














Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith

This recommendation was concurred in by
of members of the committee with



Respectfully submitted

Chairman

Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 30, 2014









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


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing the execution of a redevelopment agreement for Beverly Western Partners.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,

SUBSTITUTE ORDINANCE

AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS DESIGNATING BEVERLY WESTERN PARTNERS, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY, AS DEVELOPER AND
AUTHORIZING A REDEVELOPMENT AGREEMENT


ORDINANCE

WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") ofthe City of Chicago (the "City") on February 8, 2006, a certain redevelopment plan and project (the "Western/Rock Island Plan and Project") for the Western/Rock Island Redevelopment Project Area (the "Western/Rock Island Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seg.) (the "Act"); and

WHEREAS, pursuant to an ordinance adopted by the City Council on February 8, 2006, the Western/Rock Island Area was designated as a redevelopment project area pursuant to the Act; and

WHEREAS, pursuant to an...