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This record contains private information, which has been redacted from public viewing.
Record #: O2016-2064   
Type: Ordinance Status: Passed
Intro date: 3/16/2016 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 4/13/2016
Title: First amendment to agreement with Construction Trades Associates, Inc. for sale and redevelopment of land at 4950-4956 S Champlain Ave, 600-614 E 50th St and 4800-4806 S St Lawrence Ave
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Miscellaneous
Attachments: 1. O2016-2064.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
March 16,2016










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 ordinances authorizing amendments to previously passed land sales.

Your favorable consideration of these ordinances will be appreciated.

Mayor

Very truly yours,
ORDINANCE

WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, pursuant to an ordinance adopted on January 14,2004, and published at pages 17313 through 17340 in the Journal of the Proceedings of the City Council for such date (the "Ordinance""), the City and Construction Trades Associates, Inc., an Illinois corporation ("Developer"), have entered into that certain Agreement for the Sale and Redevelopment of Land dated May 7,2004, and recorded in the Office of the Recorder of Deeds of Cook County, Illinois (the "Recorder's. Office") on May 12, 2004, as document no. 0413345086, relating to Developer's construction of thirty-six (36) condominium units (the "Agreement"); and

WHEREAS, pursuant to the Ordinance, and in connection with the Agreement, the City has previously conveyed to Developer the real property legally described in Exhibit A attached hereto (the "Property"), by the City's quitclaim deed, dated May 13, 2004, and recorded with the Recorder's Office on June 14, 2004, as document no. 0416629104; and

WHEREAS, pursuant to the Agreement, Developer is required to construct six (6) condominium buildings, each with six (6) units, for a total of thirty-six (36) units on the Property; and

WHEREAS, pursuant to the Agreement, four (4) ofthe thirty-six (36) units shall be sold as Affordable Units (as defined in the Agreement); and

WHEREAS, Devel...

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