Office of the City Clerk - Record #: O2013-8468

• Record #: O2013-8468
• Type: Ordinance
• Status: Passed
• Intro date: 11/13/2013
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 12/11/2013
• Title: Amendment of land sale at 1100-1116 E 47th St
• Sponsors: Emanuel, Rahm
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
12/11/2013	71234	City Council	Passed	Pass
12/5/2013		Committee on Housing and Real Estate	Recommended to Pass	Pass
11/13/2013	63134	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 13, 2013










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


Ladies and Gentlemen:

At the request of the Commissioner of Housing and Economic Development, I transmit herewith an ordinance authorizing an amendment to a previously passed land sale.

Your favorable consideration of this ordinance will be appreciated.

Very truly yours,

Mayor

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, pursuant to an ordinance approved by the City Council of the City on October 3, 2001 and published in the Journal of Proceedings of the City Council for such date at pages 68217 through 68218 (the "2001 Ordinance"), the City Council has previously approved the City's conveyance of that certain real property commonly known as 1100-1116 East 47th Street, Chicago, Illinois, and more particularly described in Exhibit A attached hereto and made a part hereof, the "Property" to Muntu Dance Theatre (the "Purchaser"); and

WHEREAS, pursuant to the 2001 Ordinance, the City and Purchaser entered into that certain Agreement for the Sale and Redevelopment of Land dated June 21, 2002 and recorded in the Office of the Cook County Recorder of Deeds on December 12, 2002 as document no. 0021312516 (the "2002 Agreement"); and

WHEREAS, the 2002 Agreement provided that Purchaser would purchase the Property from the City for One and 00/100 Dollar ($1.00) and construct a 52,000 square foot performing arts center (the "Original Project"); and

WHEREAS, Purchaser subsequently purchased the Property from the City, paid the City the One and No/100 Dollars ($1.00) purchase price, and, in connection with such closing, the City conveyed the Property to Purchaser by its Quitclaim Deed dated Novembe...