ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe 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 parcels of property located at 5408-10 South Ashland Avenue, Chicago, Illinois, which are legally described on Exhibit A attached hereto (the "Properties"), which Properties are located in the 63rd/Ashland Redevelopment Project Area ("Area") established pursuant ordinances adopted by the City Council of the City on March 29, 2006, published in the Journal of Proceedings of the City Council for such date at pages 72958 through 73124; and
WHEREAS, Luz Corona ("Grantee"), 4544 S. Honore Street, Chicago, Illinois 60609, has offered to purchase the Properties from the City for the sum of Thirteen Thousand and No/100 Dollars ($13,000.00), such amount being the appraised fair market value of the Properties, to be improved with landscaped open space thereon; and
WHEREAS, pursuant to Resolution No. 14-090-21 adopted on September 18, 2014, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; 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 September 18, 2014 and September 25, 2014; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The City Council of the City hereby approves the sale of the Properties to the Grantee for the amount of Thirteen Thousand and No/100 Dollars ($13,000.00).
SECTION 2. The Mayor or his proxy is authorized to execute, and the Cit...
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