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This record contains private information, which has been redacted from public viewing.
Record #: O2015-6213   
Type: Ordinance Status: Passed
Intro date: 7/29/2015 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/24/2015
Title: Seventy-five year ground lease with Elderly Housing Development and Operations Corporation (EHDOC)
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Lease
Attachments: 1. O2015-6213.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 29,2015









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 ordinance authorizing the execution of a seventy-five year ground lease with EHDOC.

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,
ORDINANCE


WHEREAS, The City of Chicago (the "City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, has heretofore found and does hereby Find that there exists within the City a serious shortage of decent, safe and sanitary senior rental housing available to persons of very low income; and
WHEREAS, the City has determined that the continuance of a shortage of affordable senior rental housing is harmful to the health, prosperity, economic stability and general welfare ofthe City; and
WHEREAS, the City is the owner of fee simple title of the real property known as North Park Village Campus located in the City of Chipago, Illinois known as 5801 North Pulaski Drive (the "Campus"); and


WHEREAS, the City, by and through its Department of Planning and Development ("DPD") and the Department of Fleet and Facility Management ("Fleet"), desire to lease to EHDOC J. MICHAEL FITZGERALD CHARITABLE CORPORATION, an Illinois not-for-profit corporation, having an office at c/o Elderly Housing Development and Operations Corporation, 1580 Sawgrass Corporate Parkway, Suite 210, Fort Lauderdale, FL 33323 (together with any permitted successors and/or permitted assigns, the "Initial Tenant"), the parcel of land located on the Campus described on Exhibit A attached hereto and made a part hereof (such portion of land, the "Real Estate").
WHEREAS, the Real Estate is separately comprised of two parcels, which are described as "Parcel One" and "Parcel Two" on Exhibit B attached hereto and made a part hereof;...

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