Office of the City Clerk - Record #: O2014-9734

• Record #: O2014-9734
• Type: Ordinance
• Status: Passed
• Intro date: 12/10/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 4/15/2015
• Title: First Amendment to 300 East 51st LLC redevelopment agreement for rehabilitation of property at 300-314 E 51st St
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
4/15/2015	105793	City Council	Passed	Pass
4/13/2015		Committee on Finance	Recommended to Pass	Pass
1/15/2015		Committee on Finance	Held in Committee	Pass
12/10/2014	99028	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

December 10,2014









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 executed Redevelopment Agreement with Urban Juncture, Inc.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,

ORDINANCE




WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") of the City of Chicago (the "City") on May 12, 2010 and published at pages 89963 to 90056 of the Journal of the Proceedings of the City Council (the "Journal") of such date, as amended on June 27, 2012, and published at pages 29320 to 29428 ofthe Journal for that date, the City, through its Department of Housing and Economic Development ("HED"), now known as the Department of Planning and Development ("DPD"), 300 East 51st LLC, an Illinois limited liability company ("Developer"), Urban Juncture, Inc., an Illinois corporation, and 320 East 51st LLC, an Illinois limited liability company, the last two entities both being affiliates of the Developer ("Developer Affiliates"), entered into the 300 East 51st LLC Redevelopment Agreement ("RDA"), dated September 26, 2012 and recorded in the Office of the Recorder of Deeds of Cook County, Illinois as Document No. 1227712309 on October 3, 2012: and
WHEREAS, pursuant to the RDA, Developer was to rehabilitate an approximately seventeen thousand square foot building on real property which is commonly known as 300-314 East 51st Street into four food related businesses, among other things (the "Project");
WHEREAS, pursuant to Section 3.01 of the RDA, the Developer was to commence construction on the Project no later than March 31, 2013 and substantially complete construction and conduct business operations thereon relative to four food related businesses no later than September 30, 2014; an...