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This record contains private information, which has been redacted from public viewing.
Record #: O2014-4786   
Type: Ordinance Status: Passed
Intro date: 5/28/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 6/25/2014
Title: Revised redevelopment agreement with Pulaski Promenade LLC for construction of neighborhood shopping center at 4064-4200 S Pulaski Rd
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Redevelopment
Attachments: 1. O2014-4786.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
May 28, 2014









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


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing an amendment to a previously passed redevelopment agreement regarding Pulaski Promenade.

Your favorable consideration of this ordinance will be appreciated.



Very truly yours,

Mayor
ORDINANCE

WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on October 31, 2012 and published at pages 36328 through 36422 of the Journal of Proceedings of the City Council for such date (the "Original Ordinance"), the Commissioner of the Department of Housing and Economic Development or a designee of the Commissioner were each authorized, with the approval of the City's Corporation Counsel as to form and legality, to negotiate, execute and deliver a certain Pulaski Promenade Revised Redevelopment Agreement (the "Original Redevelopment Agreement") with Pulaski Promenade LLC, a Delaware limited liability company (the "Developer"), whereby the City agreed to provide tax increment allocation financial assistance from the Stevenson/Brighton Redevelopment Project Area (as defined below) to support the Developer's acquisition and construction of an approximately 152,817 square foot neighborhood shopping center thereon consisting of a main retail building containing 135,817 square feet anchored by several national retailers of general merchandise, a one-story building containing 8,000 square feet containing multiple retail uses, two additional outlots that were to be made "pad-ready" and available for construction by tenants, and 566 on-site parking spaces (the "Original Project"), all on that property having a current street address of 4064-4200 South Pulaski Road, Chicago, Illinois 60632 (the "Property"); and
WHEREAS, since then, the Developer modified the ...

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