Office of the City Clerk - Record #: O2014-9652

• Record #: O2014-9652
• Type: Ordinance
• Status: Passed
• Intro date: 11/19/2014
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 12/10/2014
• Title: Third Amendment to 108 N State St (Block 37) Redevelopment Agreement
• Sponsors: Emanuel, Rahm
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
12/10/2014	100406	City Council	Passed	Pass
12/3/2014		Committee on Housing and Real Estate	Recommended to Pass	Pass
11/19/2014	97426	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

November 19, 2014









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


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith an ordinance authorizing an amendment to a previously passed land sale, with 108 N. State Owner
LLC.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,

ORDINANCE

WHEREAS, pursuant to an ordinance adopted by the City Council (the "City Council") ofthe City of Chicago (the "Citv") on May 11, 2005, and published at pages 46678 through 46787 in the Journal of the Proceedings of the City Council of such date, the City entered into that certain 108 North State Street Redevelopment Agreement dated as of October 15, 2005, and recorded in the Office ofthe Recorder of Deeds of Cook County, Illinois (the "Recorder's Office") on November 14, 2005, as Document No. 0531834078 (together with certain ancillary agreements and amendments, the "Block 37 Redevelopment Agreement"); and

WHEREAS, pursuant to the Block 37 Redevelopment Agreement, the City conveyed its interest in the real property bounded by North State Street on the east, West Randolph Street on the north, North Dearborn Street on the west, and West Washington Street on the south ("Block 37"), to an original group of developer parties affiliated with The Mills Corporation (the "Original Mills Developer Parties") for the construction of a mixed-use project; and

WHEREAS, the proposed redevelopment of Block 37 consisted of three components; (i) a commercial base building (the "Commercial Base Building") and office tower ("Office Tower") at the corner of North Dearborn Street and West Washington Street; (ii) a four-story retail base building (the "Retail Base Building") adjacent to and connected with the Commercial Base Building; and (iii) certain below-grade improvements, including an underground parking garage, loading dock and pedw...