ORDINANCE
WHEREAS, the City of Chicago ("City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects that eradicate blighted conditions and conservation area factors through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, by an ordinance adopted by the City Council of the City ("City Council") on July 21, 1999, and published in the Journal of Proceedings of the City Council ("Journal") for said date at pages 8307 to 8344, inclusive (the "Program Ordinance"), the City implemented a redevelopment program known as the Small Business Improvement Fund program (the "Program") to provide financing assistance pursuant to the Act for the improvement of commercial and industrial facilities of small businesses in certain redevelopment project areas of the City; and
WHEREAS, by ordinances adopted by the City Council, the first on November 8, 2000, and published in the Journal for said date at pages 43877 to 43930, inclusive (the "First Amending Ordinance") and the most recent, forty-seventh amending ordinance (the "Forty-Seventh Amending Ordinance," collectively with the Program Ordinance, the First Amending Ordinance and the other amending ordinances, the "SBIF Ordinance"), the City has restated and refined the Program and extended its reach to additional redevelopment project areas of the City;
WHEREAS, the City Council now desires to extend the Program to the Archer/Western Redevelopment Project Area of the City ("New TIF/SBIF Area"), which is identified on Exhibit A attached hereto and incorporated herein, and that is not already reached under the SBIF Ordinance; and
WHEREAS, the City Council further desires to authorize the Department of Planning and Development ("DPD") to fund the Program in the New TIF/SBIF Area in an amount not to exceed $300,000; and
WHEREAS, the SBIF Ordinance authorized DPD to fund the Program in the Kinzie Industrial Redevelopment Project Area ("Kinzie Industrial Area") in an amount not to exceed $9,000,000; and
WHEREAS, as part of the Program, the $9,000,000 funding previously authorized for the Kinzie Industrial Area was substantially expended for the improvement of commercial and industrial facilities of small businesses in the Kinzie Industrial Area; and
WHEREAS, DPD desires to increase the amount of grant funds available in the Kinzie Industrial Area by an additional $1,000,000 to a total, collective amount of $10,000,000; and -
WHEREAS, the SBIF Ordinance authorized DPD to fund the Program in the 35th/Halsted Redevelopment Project Area ("35lh/Halsted Area") in an amount not to exceed $2,250,000; and
WHEREAS, as part of the Program, the $2,250,000 funding previously authorized for the|1010|
35 /Halsted Area was substantially expended for the improvement of commercial and industrial facilities of small businesses in the 35th/Halsted Area; and
WHEREAS, DPD desires to increase the amount of grant funds available in the 35th/Halsted Area by an additional $500,000 to a total, collective amount of $2,750,000; and
WHEREAS, the SBIF Ordinance authorized DPD to fund the Program in the Lawrence/Pulaski Redevelopment Project Area ("Lawrence/Pulaski Area") in an amount not to exceed $1,250,000; and
WHEREAS, as part of the Program, the $1,250,000 funding previously authorized for the Lawrence/Pulaski Area was substantially expended for the improvement of commercial and industrial facilities of small businesses in the Lawrence/Pulaski Area; and
WHEREAS, DPD desires to increase the amount of grant funds available in the Lawrence/Pulaski Area by an additional $500,000 to a total, collective amount of $1,750,000; and
WHEREAS, the City Council, under the SBIF Ordinance, authorized DPD to enter into an agreement with SomerCor 504, Inc., an Illinois not-for-profit corporation ("SomerCor"), and DPD entered into such agreement on March 12, 2001, which agreement continues in full force and effect, as amended from time to time, pursuant to which SomerCor performs certain administrative services for the Program, and DPD now desires to further amend that agreement by entering into a Forty-Eighth Amending Agreement (the "Forty-Eighth Amending Agreement") with SomerCor to (a) extend the Program into the New TIF/SBIF Area; (b) authorize Program funding for the New TIF/SBIF Area; (c) increase the amount of grant funds available in the additional existing TIF/SBIF Areas, as provided by this ordinance; and (d) authorize SomerCor to continue providing the same administrative services for the Program, which Forty-Eighth Amending Agreement is set forth in more detail on Exhibit B. attached hereto and incorporated herein; and
WHEREAS, the City's obligation to provide funds under the Forty-Eighth Amending Agreement may be met through (i) incremental taxes from the Archer/Western, Kinzie Industrial, 35th/Halsted and Lawrence/Pulaski redevelopment project areas, as applicable; or (ii) any other funds legally available to the City for this purpose; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The above recitals are expressly incorporated in and made a part of this ordinance as though fully set forth herein.
SECTION 2. SomerCor is hereby authorized to administer the Program in the Archer/Western, Kinzie Industrial, 35th/Halsted and Lawrence/Pulaski redevelopment project areas, subject to the supervision of DPD.
SECTION 3. The Commissioner of DPD or a designee of the Commissioner are each hereby authorized, with the approval of the City's Corporation Counsel as to legal form, to negotiate, execute and deliver the Forty-Eighth Amending Agreement between SomerCor and the City substantially in the form attached hereto as Exhibit B and made a part hereof, and such|1010|
other supporting documents as may be necessary to carry out and comply with the provisions of the Forty-Eighth Amending Agreement, with such changes, deletions and insertions as shall be approved by the persons executing the Forty-Eighth Amending Agreement.
SECTION 4. To the extent that any ordinance, resolution, rule, order or provision of the Municipal Code of Chicago, or part thereof, is in conflict with the provisions of this ordinance, the provisions of this ordinance shall control. All sections of the SBIF Ordinance in conflict with this ordinance are hereby repealed to the extent of such conflict. If any section, paragraph, clause or provision of this ordinance shall be held invalid, the • invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this ordinance.
SECTION 5. This ordinance shall be effective as of the date of its passage.
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EXHIBIT A
Description of New TIF/SBIF Area
The following New TIF/SBIF Area was created pursuant to the ordinance listed below:
on February 11, 2009: (1) "An Ordinance of the City of Chicago, Illinois Approving a Redevelopment Plan for the Archer/Western Redevelopment Project Area"; (2) "An Ordinance of the City of Chicago, Illinois Designating the Archer/Western Redevelopment Project Area as a Redevelopment Project Area Pursuant to the Tax Increment Allocation Redevelopment Act"; and (3) "An Ordinance of the City of Chicago, Illinois Adopting Tax Increment Allocation Financing for the Archer/Western Redevelopment Project Area."
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EXHIBIT B
Form of Forty-Eighth Amending Agreement to
ADMINISTRATIVE SERVICES AGREEMENT
This Forty-Eighth Amending Agreement to Administrative Services Agreement (the
"Agreement") is made this day of 2016, by and between the City of Chicago, a
municipal corporation and home rule unit of local government existing under the 1970 Constitution of the State of Illinois (the "City"), acting through its Department of Planning and Development ("DPD"), and SomerCor 504, Inc., an Illinois not-for-profit corporation ("SomerCor") whose office address is 601 South LaSalle Street Street, Suite 510, Chicago, Illinois 60605.
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act. 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects that eradicate blighted conditions and conservation area factors through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, by ordinances adopted by the City Council of the City on July 21, 1999 and on November 8, 2000, and published in the Journal of Proceedings of the City Council for said dates at pages 8307 to 8344, inclusive, and pages 43877-43930, inclusive, respectively (the "SBIF Ordinances"), the City implemented and amended a redevelopment program known as the Small Business Improvement Fund program (the "SBIF Program") to provide financing assistance pursuant to the Act for the improvement of commercial and industrial facilities of small businesses in certain redevelopment project areas ("TIF Areas") in the City; and
WHEREAS, the City Council, under the SBIF Ordinances, authorized DPD to enter into agreements with SomerCor, and DPD and SomerCor entered into one agreement on September 22, 1999 ("First SomerCor Agreement") and another agreement on March 12, 2001 ("Second SomerCor Agreement"), to administer the SBIF Programs on behalf of the City; and
WHEREAS, in an ordinance adopted by the City Council on October 31, 2001 and published in the Journal of Proceedings of the City Council for said date at pages 69965 through 70047, inclusive, (the "Midwest TIF Area Ordinance") the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor to enable SomerCor to provide SBIF Program administrative services in the Midwest Redevelopment Project Area (the "Midwest TIF Area Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on May 1, 2002, and published in the Journal of Proceedings of the City Council for said date at pages 83769 to 83781, inclusive ("Second Amending Ordinance"), the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor to enable SomerCor to provide SBIF Program administrative services in the Portage Park, Western Avenue North, Western Avenue South, Fullerton/Milwaukee and Belmont/Central Redevelopment Project Areas (the "Second Amending Agreement"); and|1010|
WHEREAS, by an ordinance adopted by the City Council of the City on December 4,
and published in the Journal of Proceedings of the City Council for said date at pages 100124 to 100135, inclusive ("Third Amending Ordinance"), the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor to enable SomerCor to provide SBIF Program administrative services in the Madison/Austin Corridor and Humboldt Park Commercial Redevelopment Project Areas (the "Third Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on February 5,
and published in the Journal of Proceedings of the City Council for said date at pages 102793 to 102803, inclusive ("Fourth Amending Ordinance"), the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor to enable SomerCor to provide SBIF Program administrative services in the Northwest Industrial Corridor Redevelopment Project Area (the "Fourth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on July 9, 2003, and published in the Journal of Proceedings of the City Council for said date at pages 3418 to 3424, inclusive ("Fifth Amending Ordinance"), the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor which restated the SBIF Program rules (the "Fifth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on November 3,
and published in the Journal of Proceedings of the City Council for said date at pages 34545 to 34554, inclusive ("Sixth Amending Ordinance"), DPD extended the SBIF Program to the Lawrence/Kedzie Redevelopment Project Area of the City (the "Sixth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on September 14,
and published in the Journal of Proceedings of the City Council for said date at pages 54724 to 54740, inclusive ("Seventh Amending Ordinance"), DPD extended the SBIF Program to the 63rd/Pulaski, Belmont/Cicero, Lawrence/Pulaski, Peterson/Pulaski, West Irving Park, Greater Southwest-West, Galewood/Armitage Industrial, Pilsen Industrial Corridor, 119th and Halsted, and Pulaski Corridor Redevelopment Project Areas of the City and increased the amount of grant funds available in the Fullerton/Milwaukee and Lawrence/Kedzie Redevelopment Project Areas (the "Seventh Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on September 13,
and published in the Journal of Proceedings of the City Council for said date at pages 83420 to 83440, inclusive ("Eighth Amending Ordinance"), DPD extended the SBIF Program to twenty-one redevelopment project areas of the City (the "Eighth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on February 7,
and published in the Journal of Proceedings of the City Council for said date at pages 97661 to 97672, inclusive ("Ninth Amending Ordinance"), DPD extended the SBIF Program to the 63rd/Ashland and Devon/Western Redevelopment Project Areas of the City (the "Ninth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 13, 2007|1010|
and published in the Journal of Proceedings of the City Council for said date at pages 2395 to 2402, inclusive ("Tenth Amending Ordinance"), the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor which restated the SBIF Program rules (the "Tenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on October 31,
and published in the Journal of Proceedings of the City Council for said date at pages 10929 to 10942, inclusive ("Eleventh Amending Ordinance"), DPD extended the SBIF Program to certain redevelopment project areas of the City (the "Eleventh Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 11, 2008 and published in the Journal of Proceedings of the City Council for said date at pages 28833 to 28843, inclusive ("Twelfth Amending Ordinance"), DPD extended the SBIF Program to the Michigan/Cermak Redevelopment Project Area of the City (the "Twelfth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on September 10,
and published in the Journal of Proceedings of the City Council for said date at pages 36267 to 36277, inclusive ("Thirteenth Amending Ordinance"), DPD extended the SBIF Program to the Irving/Cicero Redevelopment Project Area of the City (the "Thirteenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on September 10,
and published in the Journal of Proceedings of the City Council for said date at pages 36704 to 36711, inclusive ("Fourteenth Amending Ordinance"), the City Council authorized DPD to enter into an agreement amending the Second SomerCor Agreement with SomerCor which restated the SBIF Program rules (the "Fourteenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on February 11,
and published in the Journal of Proceedings of the City Council for said date at pages 54738 to 54748, inclusive ("Fifteenth Amending Ordinance"), DPD extended the SBIF Program to the Hollywood/Sheridan Redevelopment Project Area of the City (the "Fifteenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on March 18, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 55750 to 55762, inclusive ("Sixteenth Amending Ordinance"), DPD extended the SBIF Program to the Elston/Armstrong Industrial Corridor and 47th/Ashland Redevelopment Project Areas of the City (the "Sixteenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on April 22, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 57265 to 57276, inclusive ("Seventeenth Amending Ordinance"), DPD extended the SBIF Program to the Lawrence/Broadway and Touhy/Western Redevelopment Project Areas of the City (the "Seventeenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on May 13, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 60322 to 60333, inclusive ("Eighteenth Amending Ordinance"), DPD extended the SBIF Program to the|1010|
Austin Commercial Redevelopment Project Area of the City (the "Eighteenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 3, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 63080 to 63090, inclusive ("Nineteenth Amending Ordinance"), DPD increased the amount of grant funds available in the Clark Street and Ridge Avenue Redevelopment Project Area (the "Nineteenth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 30, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 64859 to 64871, inclusive ("Twentieth Amending Ordinance"), DPD extended the SBIF Program to the Midway Industrial Corridor Redevelopment Project Area and increased the amount of grant funds available in the Peterson/Pulaski Redevelopment Project Area (the "Twentieth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on September 9, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 69297 to 69308, inclusive ("Twenty-First Amending Ordinance"), DPD increased the amount of grant funds available in the 35th/Halsted Redevelopment Project Area (the "Twenty-First Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on November 18, 2009 and published in the Journal of Proceedings of the City Council for said date at pages 74011 to 74023, inclusive ("Twenty-Second Amending Ordinance"), DPD extended the SBIF Program to the 95th Street and Stony Island Avenue, Avalon Park/South Shore, Harlem Industrial Park Conservation, and Western Avenue/Rock Island Redevelopment Project Areas of the City (the "Twenty-Second Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on December 2,
and published in the Journal of Proceedings of the City Council for said date at pages 79524 to 79546, inclusive ("Twenty-Third Amending Ordinance"), DPD restated the SBIF Program Rules, extended the SBIF Program to the Avondale and Woodlawn Redevelopment Project Areas, and increased the amount of grant funds available in the Northwest Industrial Corridor Redevelopment Project Area (the "Twenty-Third Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on January 13,
and published in the Journal of Proceedings of the City Council for said date at pages 82434 to 82446, inclusive ("Twenty-Fourth Amending Ordinance"), DPD extended the SBIF Program to the Addison South Redevelopment Project Area (the "Twenty-Fourth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on February 10, 2010 and published in the Journal of Proceedings of the City Council for said date at pages 83847 to 83861, inclusive ("Twenty-Fifth Amending Ordinance"), DPD extended the SBIF Program to the 47th/King Drive, 79 Street Corridor and Armitage/Pulaski Redevelopment Project Areas and increased the amount of grant funds available in the Madison/Austin Corridor and Western Avenue North Redevelopment Project Areas (the "Twenty-Fifth Amending Agreement"); and|1010|
WHEREAS, by an ordinance adopted by the City Council of the City on June 9, 2010 and published in the Journal of Proceedings of the City Council for said date at pages 92472 to 92483, inclusive ("Twenty-Sixth Amending Ordinance"), DPD increased the amount of grant funds available in the Hollywood/Sheridan Redevelopment Project Area (the "Twenty-Sixth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 30, 2010 and published in the Journal of Proceedings of the City Council for said date at pages 94477 to 94491, inclusive ("Twenty-Seventh Amending Ordinance"), DPD extended the SBIF Program to the Roosevelt/Cicero, Western/Ogden and Little Village Industrial Corridor Redevelopment Project Areas and increased the amount of grant funds available in the Belmont/Central and Portage Park Redevelopment Project Areas (the "Twenty-Seventh Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on October 6, 2010 and published in the Journal of Proceedings of the City Council for said date at pages 99933 to 99946, inclusive ("Twenty-Eighth Amending Ordinance"), DPD extended the SBIF Program to the Roosevelt/Homan and Ogden/Pulaski Redevelopment Project Areas and increased the amount of grant funds available in the Devon and Western and Western Avenue/Rock Island Redevelopment Project Areas (the "Twenty-Eighth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on November 3,
and published in the Journal of Proceedings of the City Council for said date at pages 104150 to 104161, inclusive ("Twenty-Ninth Amending Ordinance"), DPD increased the amount of grant funds available in the 111th Street/Kedzie Avenue Business District Redevelopment Project Area (the "Twenty-Ninth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on February 9,
and published in the Journal of Proceedings of the City Council for said date at pages 111666 to 111678, inclusive ("Thirtieth Amending Ordinance"), DPD extended the SBIF Program to the Read/Dunning Redevelopment Project Area and increased the amount of grant funds available in the Midwest Redevelopment Project Area (the "Thirtieth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 8, 2011 and published in the Journal of Proceedings of the City Council for said date at pages 200 to 213, inclusive ("Thirty-First Amending Ordinance"), DPD increased the amount of grant funds available in the 35,h/Halsted, 47th/King Drive, North Branch South, and Portage Park Redevelopment Project Areas (the "Thirty-First Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on July 28, 2011 and published in the Journal of Proceedings of the City Council for said date at pages 3789 to 3802, inclusive ("Thirty-Second Amending Ordinance"), DPD extended the SBIF Program to the Ewing Avenue Redevelopment Project Area (the "Thirty-Second Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on November 2, 2011 and published in the Journal of Proceedings of the City Council for said date at pages 9614 to 9626, inclusive ("Thirty-Third Amending Ordinance"), DPD increased the amount of grant funds available in the Portage Park Redevelopment Project Area (the "Thirty-Third|10 10|
Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on April 24, 2012 and published in the Journal of Proceedings of the City Council for said date at pages 24129 to 24159, inclusive ("Thirty-Fourth Amending Ordinance"), DPD amended the Program Rules for the SBIF Program, extended the SBIF Program to the Archer/Central, Division/Homan and 47th/State Redevelopment Project Areas, and increased the amount of grant funds available in nine additional redevelopment project areas (the "Thirty-Fourth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on April 24, 2012 and published in the Journal of Proceedings of the City Council for said date at pages 24160 to 24175, inclusive ("Thirty-Fifth Amending Ordinance"), DPD extended the SBIF Program to the Irving Park/Elston Redevelopment Project Area and increased the amount of grant funds available in seven other redevelopment project areas (the "Thirty-Fifth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 6, 2012 and published in the Journal of Proceedings of the City Council for said date at pages 27953 to 27967, inclusive ("Thirty-Sixth Amending Ordinance"), DPD extended the SBIF Program to four additional redevelopment project areas (the "Thirty-Sixth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on October 3, 2012 and published in the Journal of Proceedings of the City Council for said date at pages 34651 to 34664, inclusive ("Thirty-Seventh Amending Ordinance"), DPD increased the amount of grant funds in the Western Avenue/Rock Island Redevelopment Project Area (the "Thirty-Seventh Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on January 17, 2013 and published in the Journal of Proceedings of the City Council for said date at pages 44849 to 44862, inclusive ("Thirty-Eighth Amending Ordinance"), DPD increased the amount of grant funds in the Western Avenue South Redevelopment Project Area (the "Thirty-Eighth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 26, 2013 and published in the Journal of Proceedings of the City Council for said date at pages 56098 to 56115, inclusive ("Thirty-Ninth Amending Ordinance"), DPD extended the SBIF Program to the 35th and Wallace Redevelopment Project Area and increased the amount of grant funds available in six other redevelopment project areas (the "Thirty-Ninth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on July 24, 2013 and published in the Journal of Proceedings of the City Council for said date at pages 57332 to 57346, inclusive ("Fortieth Amending Ordinance"), DPD increased the amount of grant funds available in the Stony Island Avenue Commercial and Burnside Industrial Corridors and West Irving Park Redevelopment Project Areas (the "Fortieth Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on June 25, 2014 and published in the Journal of Proceedings of the City Council for said date at pages 83007 to 83035, inclusive ("Forty-First Amending Ordinance"), DPD increased the amount of grant funds
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available in the Clark/Montrose, Lawrence/Broadway, and Ravenswood Corridor Redevelopment Project Areas (the "Forty-First Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on September 10,
and published in the Journal of Proceedings of the City Council for said date at pages 87257 to 87271, inclusive ("Forty-Second Amending Ordinance"), DPD increased the amount of grant funds available in the Hollywood/Sheridan Redevelopment Project Area (the "Forty-Second Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on March 18, 2015 and published in the Journal of Proceedings of the City Council for said date at pages 102954 to 102973, inclusive ("Forty-Third Amending Ordinance"), DPD extended the SBIF Program to the 24th/Michigan, 47th/Halsted and 79lhA/incennes Redevelopment Project Areas of the City, and increased the amount of grant funds available in seven other redevelopment project areas (the "Forty-Third Amending Agreement"); and
WHEREAS, by an ordinance adopted by the City Council of the City on July 29, 2015 and published in the Journal of Proceedings of the City Council for said date at pages 2525 to 2540, inclusive ("Forty-Fourth Amending Ordinance"), DPD extended the SBIF Program to the 79th Street/Southwest Highway and Stockyards Southeast Quadrant Industrial Redevelopment Project Areas of the City, and increased the amount of grant funds available in the Archer/Central, Avalon Park/South Shore, Fullerton/Milwaukee, Kinzie Industrial Corridor, Midway Industrial, Midwest, and Western Avenue South Redevelopment Project Areas; and
WHEREAS, by an ordinance adopted by the City Council of the City on October 14,
and published in the Journal of Proceedings of the City Council for said date at pages 8333 to 8348, inclusive ("Forty-Fifth Amending Ordinance"), DPD increased the amount of grant funds available in the 63rd/Pulaski, Central West, and Western/Ogden Redevelopment Project Areas; and
WHEREAS, by an ordinance adopted by the City Council of the City on February 10,
and published in the Journal of Proceedings of the City Council for said date at pages 17909 to 17925, inclusive ("Forty-Sixth Amending Ordinance"), DPD increased the amount of grant funds available in the Austin Commercial, Belmont/Central, Northwest Industrial Corridor and Portage Park redevelopment project areas; and
WHEREAS, by an ordinance adopted by the City Council of the City on , 2016
and published in the Journal of Proceedings of the City Council for said date at pages to
, inclusive ("Forty-Seventh Amending Ordinance"), DPD extended the SBIF Program to the
67th/Wentworth, Englewood Neighborhood, Englewood Mall and 107th/Halsted Redevelopment
Project Areas of the City, increased the amount of grant funds available in the Austin
Commercial, 47"7Ashland, 43rd/Cottage Grove, 47th/King Drive, 87lh/Cottage Grove,
Chicago/Central Park and 119th/Halsted Redevelopment Project Areas and provided
authorization for the targeting of SBIF Program Funds in the areas to designated zones called
[ ] Zones; and
WHEREAS, by an ordinance adopted by the City Council of the City on , 2016
and published in the Journal of Proceedings of the City Council for said date at pages to
, inclusive ("Forty-Eighth Amending Ordinance"), DPD extended the SBIF Program to
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the Archer/Western Redevelopment Project Area and increased the amount of grant funds available in six other redevelopment project areas (the "Forty-Eighth Amending Agreement"); and
WHEREAS, the Forty-Eighth Amending Ordinance authorized DPD to enter into an agreement with SomerCor to continue to provide SBIF Program administrative services, and DPD and SomerCor now desire to enter into such an agreement, which will amend the Second SomerCor Agreement (the "Forty-Eighth Amending Agreement");
NOW, THEREFORE, in consideration of the mutual promises and covenants set forth below, the parties hereto agree as follows:
ARTICLE I INCORPORATION AND RECITALS
The recitals set forth above are incorporated by reference as if fully set forth herein.
ARTICLE II
REAFFIRMATION OF REPRESENTATIONS. WARRANTIES AND COVENANTS
SomerCor reaffirms each and every representation, warranty and covenant made in Article III of the Second SomerCor Agreement. SomerCor reaffirms that it has insurance in force that conforms to the requirements of Section 4.8 of the Second SomerCor Agreement.
ARTICLE III
AMENDMENTS TO SECOND SOMERCOR AGREEMENT
1. The Second SomerCor Agreement, as amended, is further amended, as follows:
add the following text at the end of Exhibit 2 thereof: ; and
100) on February 11, 2009: (1) "An Ordinance of the City of Chicago, Illinois Approving a Redevelopment Plan for the Archer/Western Redevelopment Project Area"; (2) "An Ordinance of the City of Chicago, Illinois Designating the Archer/Western Redevelopment Project Area as a Redevelopment Project Area Pursuant to the Tax Increment Allocation Redevelopment Act"; and (3) "An Ordinance of the City of Chicago, Illinois Adopting Tax Increment Allocation Financing for the Archer/Western Redevelopment Project Area."
add the following text at the end of Exhibit 5 thereof: Archer/Western $300,000
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(c) amend the text in Exhibit 5 thereof increasing the maximum funds available for the following TIF Areas, which maximum includes previously-allocated funds and additional funding authorized by the Forty-Eighth Amending Ordinance, as follows:
Kinzie Industrial
35th/Halsted
Lawrence/Pulaski
$10,000,000
$2,750,000
$1,750,000
(d) substitute the following for each occurrence of "One Hundred Thirty-Nine Million and One Hundred Ten Thousand Dollars ($139,110,000)" in Section 4.2 thereof:
One Hundred Forty-One Million Four Hundred and Ten Thousand Dollars ($141,410,000)
Except as set forth herein, the Agreement is not amended.
ARTICLE IV
OBLIGATION TO PROVIDE DOCUMENTS
SomerCor shall execute and deliver to DPD such documents as may be required by the Corporation Counsel of the City to evidence SomerCor's participation in the Program, including, but not limited to, the City's current form of Economic Disclosure Statement and an opinion of counsel in substantially the form of Exhibit 1 attached hereto and incorporated herein.
IN WITNESS WHEREOF, the City and SomerCor have executed this Agreement as of the date first set forth above.
CITY OF CHICAGO
Commissioner,
Department of Planning and Development
SOMERCOR 504, INC.
By: Its:
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EXHIBIT 1 to Forty-Eighth Amending Agreement Form of Counsel's Opinion
2016
City of Chicago
Department of Planning and Development 121 North LaSalle Street Suite 1000
Chicago, Illinois 60602
RE: Amending Agreement to Administrative Services Agreement (the "Agreement")
Ladies and Gentlemen:
I have acted as counsel for SomerCor 504, Inc., an Illinois not-for-profit corporation ("SomerCor"), in connection with the execution and delivery of the Agreement by and between SomerCor and the City of Chicago, acting by and through its Department of Planning and Development (the "City"). SomerCor has requested that this opinion be furnished to the City.
In so acting as counsel for SomerCor I have examined:
an executed original of the Agreement;
the Articles of Incorporation, including all amendments thereto, of SomerCor as furnished and certified by the Secretary of State of the State of Illinois;
(iii) the By-Laws of SomerCor, as certified by the Secretary of SomerCor as of the date hereof; and
(iv) the Certificate of Good Standing dated , issued by the Office of
the Secretary of State of the State of Illinois, as to the good standing of SomerCor.
In my capacity as counsel, I have also examined such other documents or instruments as I have deemed relevant for the purposes of rendering the opinions hereinafter set forth.
I have also assumed, but have no reason to question, the legal capacity, authority and the genuineness of the signatures of and due and proper execution and delivery by the respective parties other than SomerCor which has made, executed or delivered or will make, execute and deliver the agreements and documents examined by me.
I express no opinion as to (i) the laws of any state or jurisdiction other than the State of Illinois (and any political subdivisions thereof) and the United States of America; and (ii) any matters pertaining or relating to the securities laws of the United States of America, the State of Illinois or any other state.
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Based upon and subject to the assumptions and qualifications herein stated, it is my opinion that:
SomerCor is a not-for-profit corporation, duly organized and validly existing under the laws of the State of Illinois, SomerCor has made all filings required by the laws of the State of Illinois in respect of its formation and continuing existence, and has all requisite authority to carry on its business and to execute and deliver, and to consummate the transactions contemplated by, the Agreement.
The Agreement has been duly executed and delivered on behalf of SomerCor, and constitutes a legal, valid and binding obligation of SomerCor, enforceable against SomerCor in accordance with its terms, except to the extent that enforcement of any such terms may be limited by: (a) applicable bankruptcy, reorganization, debt arrangement, insolvency or other similar laws generally affecting creditors' rights; or (b) judicial and public policy limitations upon the enforcement of certain remedies including those which a court of equity may in its discretion decline to enforce.
There is no action, suit or proceeding at law or in equity pending, nor to my knowledge threatened, against or affecting SomerCor, before any court or before any governmental or administrative agency, which if adversely determined could materially and adversely affect the ability of SomerCor to perform under the Agreement or any of its business or properties or financial or other conditions.
The transactions contemplated by the Agreement are governed by the laws of the State of Illinois.
The execution and delivery of the Agreement and the consummation of the transactions contemplated thereby will not constitute:
a violation or breach of (i) the Articles of Incorporation of SomerCor, (ii) the By-Laws of SomerCor, (iii) any provision of any contract or other instrument to which SomerCor is bound, or (iv) any order, writ, injunction, decree, statute, rule or regulation binding on SomerCor, or
a breach of any of the provisions of, or constitute a default under, or result in the creation or imposition of any lien or encumbrance upon any of the property of SomerCor pursuant to any agreement or other instrument to which SomerCor is a party or by which SomerCor is bound.
No action of, or filing with, any governmental or public body is required to authorize, or is otherwise required for the validity of, the execution, delivery and performance of any of the Agreement.
This opinion is furnished for your benefit and may be relied upon by you and any such other party in connection with the Agreement, but may not be delivered to or relied upon by any other person or entity without written consent from the undersigned.
Very truly yours,
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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
October 5, 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 an ordinance providing for various allocations of Small Business Improvement Funds.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
CHICAGO November 1,2016 To the President and Members of the City Council: Your Committee on Finance having had under consideration
An ordinance authorizing the approval of Amendment Number 48 to the Small Business Improvement Fund Program.
02016-7383
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
This recommendation was concurred in by
of members of the committee with
Respectfully submitted
Chairman
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