SUBSTITUTE ORDINANCE
WHEREAS, the City is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City is the owner of the vacant parcel of property located at 916-18 E. 43rd Street, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, Norflo Holding Corporation, an Illinois corporation ("Grantee"), 1004 E. 41st Place, Chicago, Illinois, 60653, has offered to purchase the Property from the City for the sum of Thirty Thousand and No/100 Dollars ($30,000.00), such amount being the appraised fair market of the Property with a parking lot in perpetuity deed restriction, for the purpose of constructing a parking lot thereon; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on June 20, 2014, and June 27, 2014; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; and
WHEREAS, pursuant to Resolution No. 14-058-21 adopted on July 17, 2014, the Plan Commission of the City of Chicago (the "Commission") has approved the negotiated sale of the Property to the Grantee; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The City Council hereby approves the sale of the Property to the Grantee in the amount of Thirty Thousand and No/100 Dollars ($30,000.00).
SECTION 2. The Mayor or his proxy is authorized to execute, and the City Clerk or Deputy City Clerk is authorized to attest, a quitclaim deed conveying the Property to the Grantee. The quitclaim deed shall contain language substantially in the following form:
This conveyance is subject to the express conditions that: 1) a parking lot is c...
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