AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS AUTHORIZING THE CONVEYANCE OF CITY LAND TO A SAFE HAVEN FOUNDATION, AN
ILLINOIS NOT FOR PROFIT CORPORATION
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to ordinances adopted on May 17, 2000, the City Council of the City (the "Citv Council"): (i) approved a certain redevelopment plan and project, (as amended, pursuant to ordinances adopted by the City Council on May 9, 2012 and December 9, 2015, the "Redevelopment Plan") for the Midwest Redevelopment Project Area (as amended, the "Redevelopment Area"), pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"); (ii) designated the Redevelopment Area as a redevelopment project area pursuant to the Act; and (iii) adopted tax increment financing pursuant to the Act as a means of financing certain Redevelopment Area project costs incurred pursuant to the Redevelopment Plan; and
WHEREAS, the City is the owner of the 7 parcels of real property commonly known as 2908-20 West Roosevelt Road and 1143 South Richmond Street, Chicago (the "Property"), which Property is legally described on Exhibit A attached hereto; and
WHEREAS, the Property is located in the Redevelopment Area; and
WHEREAS, A Safe Haven Foundation, an Illinois not for profit corporation, or its successor in interest (the "Developer"), as approved by the City's Department of Planning and Development (the "Department"), has submitted a proposal to the Department to purchase the Property for nominal consideration in order to construct approximately 88 studio apartments and 2 one-bedroom apartments to serve the housing and support needs of homeless and disabled veterans (the "Project"); and
WHEREAS, the Project has received...
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