ORDINANCE
WHEREAS, the City of Chicago ("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 constructed the Orange Line rapid transit system in the 1990's; and
WHEREAS, the City of Chicago, acting through its Department of Transportation ("CDOT"), is interested in extending the Orange Line southward to Ford City shopping mall (the "Project"); and
WHEREAS, in furtherance of the Project, the City requires the acquisition of additional right-of-way; and
WHEREAS, The Belt Railway Company of Chicago, an Illinois corporation ("BRC"), is the owner of a 133 foot wide railroad right-of-way situated approximately 166 feet east of South Knox Avenue between West 63rd Street on the north and West Marquette Road on the south; and
WHEREAS, CDOT has offered to purchase the west 70 feet of BRC's right-of-way, and BRC has agreed to sell the west 70 feet of its right-of-way (the "Right-of-Way") to the City for the sum of $1,767,500.00 for use in connection with the Project; and
WHEREAS, the Federal Transit Administration has approved CDOT's request for an administrative settlement in the amount of $1,767,500.00; and
WHEREAS, BRC owns additional right-of-way that CDOT is interested in purchasing for use in connection with the expansion of the Orange Line, provided that the FTA grants the funds necessary for such purchase; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The City hereby finds that the primary benefit of the transaction is to the City, and approves the purchase of the Right-of-Way legally described on Exhibit A for the sum of $1,767,500.00.
SECTION 2. The Commissioner of the Department of Transportation (the "Commissioner") or his designee is authorized, subject to the approval of the Corporation Counsel as to form and legality, to ex...
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