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Record #: O2017-3882   
Type: Ordinance Status: Passed
Intro date: 5/24/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 6/28/2017
Title: Amendment of sale of City-owned property and multi-family loan agreement with Brainerd Park Apartments LP at 8902-8956 S Loomis St
Sponsors: Brookins, Jr., Howard
Attachments: 1. O2017-3882.pdf, 2. O2017-3882 (V1).pdf

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 rental housing available to persons of low and moderate income; and

 

WHEREAS, the City Council of the City on April 19, 2017, passed that certain ordinance ("Ordinance") relating to the making of a loan to Brainerd Park Apartments Limited Partnership, an Illinois limited partnership (the "Borrower"), of which Brainerd Park GP, LLC, an Illinois limited liability company, is the sole general partner (of which Full Circle Communities, Inc., an Illinois not-for-profit corporation ("FCC"), is the managing member and Christian Community Health Center, an Illinois not-for-profit corporation, is a member), in an amount not to exceed $1,900,000 (the "Loan"), to be funded from Multi-Family Program Funds, as more specifically set forth in the Ordinance; and

 

WHEREAS, the Ordinance authorized the City's conveyance to FCC of twelve vacant, City-owned parcels of real property commonly known as 8902-8956 South Loomis Street, Chicago, Illinois (the "City Property"), for immediate reconveyance to the Borrower; and

 

WHEREAS, the Ordinance set forth certain conditions precedent to the City's closing on the conveyance ofthe City Property, including the requirement in paragraph 4 of Section 5(viii) ofthe Ordinance that FCC obtain a draft No Further Remediation from the Illinois Environmental Protection Agency; and

 

WHEREAS, FCC has proposed, and the City's Department of Planning and Development has agreed, that in order to facilitate the timely closing of the conveyance of the City Property, the City will not require a draft no further remediation letter as a condition to the closing, but rather require receipt ofthe Illinois Environmental Protection Agency's approval ofthe Comprehensive Site Investigation Report/Remedial Objectives Report/Remedial Action Plan (CSIR/ROR/RAP) within six (6) months following the closing; now, therefore

 

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

 

SECTION 1. Incorporation of Recitals. The above recitals are expressly incorporated in and made a part of this ordinance as though fully set forth herein.

 

SECTION 2. Closing Conditions. Paragraph 4 of Section 5(viii) ofthe Ordinance is hereby amended and restated to read as follows: "FCC must receive the Illinois Environmental Protection Agency's written approval of the Comprehensive Site Investigation Report/Remedial Objectives Report/Remedial Action Plan (CSIR/ROR/RAP) within six (6) months following the closing, unless such condition is waived, in writing, by the Commissioner of DPD."

 

SECTION 3. Severance. 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. 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 ofthe other provisions of this ordinance.

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SECTION 4. Effective Date. This ordinance shall be effective as ofthe date of its passage and approval.

 

JOSEPH A. MOORE

Alderman. 49th Ward 7356 North Greenview Avenue Chicago. Illinois 60626 telephone 773-338-5796 ward49@cityofchicago.org www ward49 com

CITY COUNCIL

CITY OF CHICAGO COUNCIL CHAMBER

City Hall. Room 200 121 North LaSalle Street Chicago. Illinois 60602 Telephone 312-744-3067

COMMITTEE MEMBERSHIPS

 

HOUSING AND REAL ESTATE

Chairman

 

Budget and Government Operations

Committees, Rules and Ethics

Education and Child Development

Finance

Health and Environmental Protection

Human Relations

Special Events, Cultural Affairs and Recreation

 

 

 

 

 

June 28, 2017

 

 

 

 

To the President and Members ofthe City Council:

 

Your Committee on Housing and Real Estate, for which a meeting was held on June 13, 2017, having had under consideration the ordinance introduced by Alderman Howard Brookins, Jr. on May 24, 2017, this being the amendment of a previously-passed sale of City-owned property at 8902-8956 S. Loomis St., begs leave to recommend that Your Honorable Body Approve said ordinance transmitted herewith.

 

This recommendation was concurred in by a voice vote of all committee members present with no dissenting votes.

 

 

 

Respectfully submitted,

 

 

 

Joseph A. Moore, (phairman mittee on Housing arid Real Estate