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This record contains private information, which has been redacted from public viewing.
Record #: SO2017-2868   
Type: Ordinance Status: Passed
Intro date: 3/29/2017 Current Controlling Legislative Body: Committee on Finance
Final action: 4/19/2017
Title: First amendment to redevelopment agreement with Swedish Covenant Hospital
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Redevelopment
Attachments: 1. SO2017-2868.pdf, 2. SO2017-2868 (V1).pdf, 3. O2017-2868.pdf
SUBSTITUTE ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule municipality as described in Section 6 (a), Article VII of the 1970 Constitution ofthe State of Illinois, and as such may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, on October 1, 2014, (the Original Agreement Closing Date), the City, acting through its Department of Planning and Development ("DPD") and Swedish Covenant Hospital, an Illinois Not-For-Profit Corporation ("Developer") entered into that certain Swedish Covenant Hospital Redevelopment Agreement, recorded on October 1, 2014 in the Office of the Cook County, Illinois Recorder of Deeds as Document No. 1427416059 (the "Original Agreement") as authorized by ordinance approved by the City Council of the City ("City Council") on July 30, 2014 at pp 84900-84996 ofthe City Council Journal of Proceedings for that date, pertaining to property located in the Foster and California Redevelopment Project Area in the vicinity of 5140 North California Avenue; and

WHEREAS, the Original Agreement contemplated, among other things, the rehabilitation ofthe Women's Health Center (the "WHC") and the renovation of the Emergency Department, more particularly described and defined in the Original Agreement, collectively, as the "Project". In the Original Agreement, the Project work was further defined to be the "ER Phase" and the "WHC Phase"; and

WHEREAS, in the Original Agreement at Section 4.03(b), the City agreed to provide financial support for each ofthe WHC Phase and the ER Phase subject to certain conditions, and in the case ofthe ER Phase, subject to the issuance of the Final Certificate (as defined in the Original Agreement) for the Project; and

WHEREAS, the City issued a Certificate of Completion effective as of July 10, 2015 for the WHC Phase ofthe Project, and has made 2 payments to Developer under the requirements of Original Agreement Section 4.03(c), applicable to the WHC Phase. T...

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