ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, and may exercise any power related to its local governmental affairs; and
WHEREAS, pursuant to an ordinance approved by the City Council of the City (the "City Council") on January 14, 1998, and published in the Journal of Proceedings of the City Council (the "Journal") for such date at pages 59907 through 59909, the City and National Italian American Sports Hall of Fame, Inc., an Illinois not-for-profit corporation ("Developer"), have previously entered into that certain "Agreement for the Sale and Redevelopment of Land," dated as of August 18, 1998, and recorded with the Office of the Recorder of Deeds of Cook County, Illinois (the "Recorder's Office"), on September 9, 1999, as document number 99858127 (the "Agreement"); and
WHEREAS, in accordance with the Agreement, for the sales price of One Dollar ($1.00), the City conveyed to the Developer the property commonly known as 1423-31 West Taylor Street (P.I.N.s 17-17-325-012 and 17-17-325-036), Chicago, Illinois, which is legally described in Exhibit A hereto (the "Property"), pursuant to the City's quitclaim deed dated September 9, 1999, and recorded with the Recorder's Office, on September 9, 1999, as document number 99858128 (the "Deed"); and
WHEREAS, the Agreement and the Deed imposed certain covenants running with the land relating to: devoting the Property in accordance with the uses set forth in the Conservation Plan for the Near West Side Conservation Area; limitation upon encumbrances of the Property; commencement and completion of certain improvements on the Property (the "Improvements"); prohibition against transfer of property; and certain non-discrimination requirements; and
WHEREAS, pursuant to an ordinance approved by the City Council on January 9,2008, and published in the Journal for such date at pages 18581 through 18607, the C...
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