ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois; and
WHEREAS, the Board of Education of the City of Chicago (the "Board") is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois; and
WHEREAS, pursuant to the provisions of an act to authorize the creation of public building commissions and to define their rights, powers and duties under the Public Building Commission Act (50 ILCS 20/1 et seg,), the City Council of the City (the "City Council") created the Public Building Commission of Chicago (the "Commission") to facilitate the acquisition and construction of public buildings and facilities; and
WHEREAS, the Commission owns in trust for the Board certain real property located at 2135 West Foster Avenue in Chicago, Illinois (the "Chappell Property"); and
WHEREAS, the Board is rehabilitating or has rehabilitated a school (the "Chappell Facility") known as Chappell School on the Chappell Property (the Chappell Facility has those general features described in Exhibit 1 to Exhibit A attached hereto and incorporated herein, and the rehabilitation of the Chappell Facility shall be known as the "Chappell Project"); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seg., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, to induce certain redevelopment pursuant to the Act, the City Council adopted the following ordinances on January 12, 2000, published at pages 22395 through 22522 of the Journal of Proceedings of the City Council (the "Journal") for said date, as amended by ordinances adopted by the City Council on May 17, 2000 (published at pages 31610 through 31705 of the Journal for said date): "Authorization for Approval of Tax Increment Redevelopment Plan for the Western Avenue North Redevelopment Project Area"; "Designation of Western Avenue North Redevelopment Project Area as a Tax Increment Financing District"; and "Adoption of Tax Increment Financing for the Western Avenue North Redevelopment Project Area" (the aforesaid Ordinances, as the same may have heretofore been or hereinafter may be amended, are collectively referred to herein as the "Western Avenue North TIF Ordinances", the Redevelopment Plan approved by the Western Avenue North TIF Ordinances is referred to herein as the "Western Avenue North Redevelopment Plan" and the redevelopment project area created by the Western Avenue North TIF Ordinances is referred to herein as the "Western Avenue North Redevelopment Area"); and
WHEREAS, all of the Chappell Property lies wholly within the boundaries of the Western Avenue North Redevelopment Area; and
WHEREAS, under 65 ILCS 5/11-74.4-3(q)(7), such incremental ad valorem taxes, which pursuant to the Act have been collected and are allocated to pay redevelopment project costs and obligations incurred in the payment thereof ("Increment"), may be used to pay all or a portion of a taxing district's capital costs resulting from a redevelopment project necessarily incurred or to be incurred in furtherance of the objectives of the redevelopment plan and project, to the extent the municipality by written agreement accepts and approves such costs (Increment collected from the Western Avenue North Redevelopment Area shall be known as the "Western Avenue North Increment"); and
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WHEREAS, the Board is a taxing district under the Act; and
WHEREAS, the Western Avenue North Redevelopment Plan contemplates that tax increment financing assistance would be provided for public improvements, such as the Chappell Project, within the boundaries of the Western Avenue North Area; and
WHEREAS, the City desires to use a portion of the Western Avenue North Increment (the "Chappell City Funds") for the Chappell Project on the Chappell Property, all of which either lies wholly within or is contiguous to the boundaries of the Western Avenue North Redevelopment Area; and
WHEREAS, the City agrees to use the Chappell City Funds in an amount not to exceed $760,137 to reimburse the Board for a portion of the costs of the Chappell TIF-Funded Improvements (as defined in Article Three, Section 3 of Exhibit A hereto) for the Chappell Project, pursuant to the terms and conditions of this Agreement; and
WHEREAS, in accordance with the Act, the Chappell TIF-Funded Improvements shall include such of the Board's capital costs necessarily incurred or to be incurred in furtherance of the objectives of the Western Avenue North Redevelopment Plan, and the City has found that the Chappell TIF-Funded Improvements consist of the cost of the Board's capital improvements for the Chappell Facility that are necessary and directly result from the redevelopment project constituting the Chappell Project and, therefore, constitute "taxing districts' capital costs" as defined in Section 5/11-74.4-03(u) of the Act; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The above recitals are incorporated here by this reference.
SECTION 2. Subject to the approval of the Corporation Counsel as to form and legality, the Commissioner of the Department of Planning and Development or his designee is authorized to execute an agreement and such other documents as are necessary, between the City and the Board in substantially the form attached as Exhibit A (the "Agreement"). The Agreement shall contain such other terms as are necessary or appropriate.
SECTION 3. 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 of the other provisions of this ordinance.
SECTION 4. This ordinance takes effect upon passage and approval.
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EXHIBIT A
INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF CHICAGO, BY AND THROUGH ITS DEPARTMENT OF PLANNING AND DEVELOPMENT, AND THE BOARD OF EDUCATION OF THE CITY OF CHICAGO REGARDING CHAPPELL SCHOOL
This Intergovernmental Agreement (this "Agreement") is made and entered into as of the
day of , 2017 by and between the City of Chicago (the "City"), a municipal
corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois, by and through its Department of Planning and Development (the "Department"), and the Board of Education of the City of Chicago (the "Board"), a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois.
RECITALS
WHEREAS, pursuant to the provisions of an act to authorize the creation of public building commissions and to define their rights, powers and duties under the Public Building Commission Act (50 ILCS 20/1 et seg,), the City Council of the City (the "City Council") created the Public Building Commission of Chicago (the "Commission") to facilitate the acquisition and construction Of public buildings and facilities; and
WHEREAS, the Commission owns in trust for the Board certain real property located at 2135 West Foster Avenue in Chicago, Illinois (the "Chappell Property"); and
WHEREAS, the Board is rehabilitating or has rehabilitated a school (the "Chappell Facility" or the "Facility") known as Chappell School on the Chappell Property (the Chappell Facility has those general features described in Exhibit 1 attached hereto and incorporated herein, and the rehabilitation of the Chappell Facility shall be known as the "Chappell Project" or the "Project"); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seg., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, to induce certain redevelopment pursuant to the Act, the City Council adopted the following ordinances on January 12, 2000, published at pages 22395 through 22522 of the Journal of Proceedings of the City Council (the "Journal") for said date, as amended by ordinances adopted by the City Council on May 17, 2000 (published at pages 31610 through 31705 of the Journal for said date): "Authorization for Approval of Tax Increment Redevelopment Plan for the Western Avenue North Redevelopment Project Area"; "Designation of Western Avenue North Redevelopment Project Area as a Tax Increment Financing District"; and "Adoption of Tax Increment Financing for the Western Avenue North Redevelopment Project Area" (the aforesaid Ordinances, as the same may have heretofore been or hereinafter may be amended, are collectively referred to herein as the "Western Avenue North TIF Ordinances", the Redevelopment Plan approved by the Western Avenue North TIF Ordinances is referred to herein as the "Western Avenue North Redevelopment Plan" and the redevelopment project area created by the Western Avenue North TIF Ordinances is referred to herein as the "Western Avenue North Redevelopment Area"); and
WHEREAS, all of the Chappell Property lies wholly within the boundaries of the Western Avenue North Redevelopment Area; and
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WHEREAS, under 65 ILCS 5/11-74.4-3(q)(7), such incremental ad valorem taxes, which pursuant to the Act have been collected and are allocated to pay redevelopment project costs and obligations incurred in the payment thereof ("Increment"), may be used to pay all or a portion of a taxing district's capital costs resulting from a redevelopment project necessarily incurred or to be incurred in furtherance of the objectives of the redevelopment plan and project, to the extent the municipality by written agreement accepts and approves such costs (Increment collected from the Western Avenue North Redevelopment Area shall be known as the "Western Avenue North Increment"); and
WHEREAS, the Board is a taxing district under the Act; and
WHEREAS, the Western Avenue North Redevelopment Plan contemplates that tax increment financing assistance would be provided for public improvements, such as the Chappell Project, within the boundaries of the Western Avenue North Area; and
WHEREAS, the City desires to use a portion of the Western Avenue North Increment (the "Chappell City Funds" or "City Funds") for the Chappell Project on the Chappell Property, all of which either lies wholly within or is contiguous to the boundaries of the Western Avenue North Redevelopment Area; and
WHEREAS, the City agrees to use the Chappell City Funds in an amount not to exceed $760,137 to reimburse the Board for a portion of the costs of the Chappell TIF-Funded Improvements (as defined in Article Three, Section 3) for the Chappell Project, pursuant to the terms and conditions of this Agreement; and
WHEREAS, in accordance with the Act, the Chappell TIF-Funded Improvements shall include such of the Board's capital costs necessarily incurred or to be incurred in furtherance of the objectives of the Western Avenue North Redevelopment Plan, and the City has found that the Chappell TIF-Funded Improvements consist of the cost of the Board's capital improvements for the Chappell Facility that are necessary and directly result from the redevelopment project constituting the Chappell Project and, therefore, constitute "taxing districts' capital costs" as defined in Section 5/11-74.4-03(u) of the Act.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Article One: Incorporation of Recitals
The recitals set forth above are incorporated herein by reference and made a part
hereof.
Article Two: The Chappell Project
1. The plans and specifications for the Project shall at a minimum meet the general requirements for the Facility as set forth in Exhibit 1 hereof and shall be provided to the City by the Board prior to the disbursement of City Funds relating to the Project. The Board shall comply with all applicable federal, state and local laws, statutes, ordinances, rules, regulations, codes and executive orders, as well as all policies, programs and procedures of the Board, all as may be in effect or as amended from time to time, pertaining to or affecting the Project or the Board as related thereto. The Board shall include a certification of such compliance with each request for City Funds hereunder and at the time the Project is completed. The City shall be entitled to rely on this certification without further inquiry. Upon the City's request, the Board shall provide evidence satisfactory to the City of such compliance.
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2. In all contracts relating to the Project, the Board agrees to require the contractor to name the City as an additional insured on insurance coverages and to require the contractor to indemnify the City from all claims, damages, demands, losses, suits, actions, judgments and expenses including but not limited to attorney's fees arising out of or resulting from work on the Project by the contractor or contractor's suppliers, employees, or agents.
Article Three: Funding
Upon completion of the Project, the Board shall provide the Department with a Requisition Form, in the form of Exhibit 2 hereto, along with: (i) a cost itemization of the applicable portions of the budget attached as Exhibit 3 hereto; (ii) evidence of the expenditures upon TIF-Funded Improvements for which the Board seeks reimbursement; and (iii) all other documentation described in Exhibit 2. Requisition for reimbursement of TIF-Funded Improvements out of the City Funds shall be made not more than four (4) times per year (or as otherwise permitted by the Department). The City shall disburse the City Funds to the Board within 45 days after the City's approval of a Requisition Form. The Board will only request disbursement of City Funds and the City will only disburse City Funds for the costs of the Project, to the extent that such costs are TIF-Funded Improvements.
The current estimate of the cost of the Project is approximately $2,287,301. The Board has delivered to the Commissioner of the Department (the "Commissioner"), and the Commissioner hereby approves, a detailed project budget for the Project, attached hereto and incorporated herein as Exhibit 3. The Board certifies that it has identified sources of funds (including the City Funds) sufficient to complete the Project. The Board agrees that the City will only contribute the City Funds to the Project and that all costs of completing the Project over the City Funds shall be the sole responsibility of the Board. If the Board at any point does not have sufficient funds to complete the Project, the Board shall so notify the City in writing, and the Board may narrow the scope of the Project as agreed with the City in order to construct the Facility with the available funds.
Attached as Exhibit 4 and incorporated herein is a preliminary list of capital improvements, land assembly costs, relocation costs and other costs, if any, recognized by the City as being eligible redevelopment project costs under the Act with respect to the Project, to be paid for out of City Funds ("Chappell TIF-Funded Improvements" or "TIF-Funded Improvements"); and to the extent the TIF-Funded Improvements are included as taxing district capital costs under the Act, the Board acknowledges that the TIF-Funded Improvements are costs for capital improvements and the City acknowledges it has determined that these TIF-Funded Improvements are necessary and directly result from the Western Avenue North Redevelopment Plan. Prior to the expenditure of City Funds on the Project, the Commissioner, based upon the detailed project budget, shall make such modifications to Exhibit 4 as he or she wishes in his or her discretion to account for all of the City Funds to be expended under this Agreement; provided, however, that all TIF-Funded Improvements shall (i) qualify as redevelopment project costs under the Act; (ii) qualify as eligible costs under the Western Avenue North Redevelopment Plan; and (iii) be improvements that the Commissioner has agreed to pay for out of City Funds, subject to the terms of this Agreement.
If the aggregate cost of the Project is less than the amount of the City Funds contemplated by this Agreement, the Board shall have no claim to the difference between the amount of the City Funds contemplated by this Agreement and the amount of the City Funds actually paid by the City to the Board and expended by the Board on the Project.
If requested by the City, the Board shall provide to the City quarterly reports on the progress of the Project and reasonable access to its books and records relating to the Project.
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6. During the Term hereof the Board shall not sell, transfer, convey, lease or otherwise dispose (or cause or permit the sale, transfer, conveyance, lease or other disposal) of all or any portion of (a) the Chappell Property or any interest therein, or (b) the Chappell Facility or any interest therein (each a "Transfer"), or otherwise effect or consent to a Transfer, without the prior written consent of the City. The City's consent to any Transfer may, in the City's sole discretion, be conditioned upon (among other things) whether such a Transfer would conflict with the statutory basis for the provision of the City Funds hereunder pursuant to the Act.
Article Four: Term
The Term of the Agreement shall commence on the date of its execution and shall expire on the date on which the Western Avenue North Redevelopment Area is no longer in effect (through and including December 31, 2024).
Article Five: Indemnity; Default
The Board agrees to indemnify, defend and hold the City, its officers, officials, members, employees and agents harmless from and against any losses, costs, damages, liabilities, claims, suits, actions, causes of action and expenses (including, without limitation, reasonable attorneys' fees and court costs) suffered or incurred by the City arising from or in connection with (i) the Board's failure to comply with any of the terms, covenants and conditions contained within this Agreement, or (ii) the Board's or any contractor's failure to pay general contractors, subcontractors or materialmen in connection with the Project.
The failure of the Board to perform, keep or observe any of the covenants, conditions, promises, agreements or obligations of the Board under this Agreement or any other agreement directly related to this Agreement shall constitute an "Event of Default" by the Board hereunder. Upon the occurrence-of an Event of Default, the City may terminate this Agreement and any other agreement directly related to this Agreement, and may suspend disbursement of the City Funds. The City may, in any court of competent jurisdiction by any action or proceeding at law or in equity, pursue and secure any available remedy, including but not limited to injunctive relief or the specific performance of the agreements contained herein.
In the event the Board shall fail to perform a covenant which the Board is required to perform under this Agreement, notwithstanding any other provision of this Agreement to the contrary, an Event of Default shall not be deemed to have occurred unless the Board has failed to cure such default within thirty (30) days of its receipt of a written notice from the City specifying the nature of the default; provided, however, with respect to those defaults which are not capable of being cured within such thirty (30) day period, the Board shall not be deemed to have committed an Event of Default under this Agreement if it has commenced to cure the alleged default within such thirty (30) day period and thereafter diligently and continuously prosecutes the cure of such default until the same has been cured.
The failure of the City to perform, keep or observe any of the covenants, conditions, promises, agreements or obligations of the City under this Agreement or any other agreement directly related to this Agreement shall constitute an "Event of Default" by the City hereunder. Upon the occurrence of an Event of Default, the Board may terminate this Agreement and any other agreement directly related to this Agreement. The Board may, in any court of competent jurisdiction by any action or proceeding at law or in equity, pursue and secure injunctive relief or the specific performance of the agreements contained herein.
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In the event the City shall fail to perform a covenant which the City is required to perform under this Agreement, notwithstanding any other provision of this Agreement to the contrary, an Event of Default shall not be deemed to have occurred unless the City has failed to cure such default within thirty (30) days of its receipt of a written notice from the Board specifying the nature of the default; provided, however, with respect to those defaults which are not capable of being cured within such thirty (30) day period, the City shall not be deemed to have committed an Event of Default under this Agreement if it has commenced to cure the alleged default within such thirty (30) day period and thereafter diligently and continuously prosecutes the cure of such default until the same has been cured.
Article Six: Consent
Whenever the consent or approval of one or both parties to this Agreement is required hereunder, such consent or approval shall not be unreasonably withheld.
Article Seven: Notice
Notice to Board shall be addressed to:
Chief Financial Officer Board of Education of the City of Chicago 42 West Madison Street, 2nd Floor Chicago, Illinois 60602
and
General Counsel
Board of Education of the City of Chicago One North Dearborn Street, 9th Floor Chicago, Illinois 60602
Notice to the City shall be addressed to:
Commissioner City of Chicago
Department of Planning and Development 121 North LaSalle Street, Room 1000 Chicago, Illinois 60602
and
Corporation Counsel
City of Chicago
Department of Law
121 North LaSalle Street, Room 600
Chicago, Illinois 60602
Attention: Finance and Economic Development Division
Unless otherwise specified, any notice, demand or request required hereunder shall be given in writing at the addresses set forth above, by any of the following means: (a) personal service; (b) electric communications, whether by telex, telegram, or telecopy; (c) overnight courier; or (d) registered or certified mail, return receipt requested.
Such addresses may be changed when notice is given to the other party in the same manner as provided above. Any notice, demand or request sent pursuant to either clause (a) or (b) hereof shall be deemed received upon such personal service or upon dispatch by electronic
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means. Any notice, demand or request sent pursuant to clause (c) shall be deemed received on the day immediately following deposit with the overnight courier and, if sent pursuant to subjection (d) shall be deemed received two (2) days following deposit in the mail.
Article Eight: Assignment; Binding Effect
This Agreement, or any portion thereof, shall not be assigned by either party without the prior written consent of the other.
This Agreement shall inure to the benefit of and shall be binding upon the City, the Board and their respective successors and permitted assigns. This Agreement is intended to be and is for the sole and exclusive benefit of the parties hereto and such successors and permitted assigns.
Article Nine: Modification
This Agreement may not be altered, modified or amended except by written instrument signed by all of the parties hereto.
Article Ten: Compliance With Laws
The parties hereto shall comply with all federal, state and municipal laws, ordinances, rules and regulations relating to this Agreement.
Article Eleven: Governing Law And Severability
This Agreement shall be governed by the laws of the State of Illinois. If any provision of this Agreement shall be held or deemed to be or shall in fact be inoperative or unenforceable as applied in any particular case in any jurisdiction or jurisdictions or in all cases because it conflicts with any other provision or provisions hereof or any constitution, statute, ordinance, rule of law or public policy, or for any reason, such circumstance shall not have the effect of rendering any other provision or provisions contained herein invalid, inoperative or unenforceable to any extent whatsoever. The invalidity of any one or more phrases, sentences, clauses, or sections contained in this Agreement shall not affect the remaining portions of this Agreement or any part hereof.
Article Twelve: Counterparts
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one instrument. A signature delivered by facsimile or electronic means shall be considered binding for both parties.
Article Thirteen: Entire Agreement
This Agreement constitutes the entire agreement between the parties.
Article Fourteen: Authority
Execution of this Agreement by the City is authorized by an ordinance passed by the
City Council of the City on , 201_. Execution of this Agreement by the Board is
authorized by Board Resolution 01-0725-R52. The parties represent and warrant to each other that they have the authority to enter into this Agreement and perform their obligations hereunder.
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Article Fifteen: Headings
The headings and titles of this Agreement are for convenience only and shall not influence the construction or interpretation of this Agreement.
Article Sixteen: Disclaimer of Relationship
Nothing contained in this Agreement, nor any act of the City or the Board, shall be deemed or construed by any of the parties hereto or by third persons to create any relationship of third party beneficiary, principal, agent, limited or general partnership, joint venture, or any association or relationship involving the City and the Board.
i Article Seventeen: Construction of Words
The use of the singular form of any word herein shall also include the plural, and vice versa. The use of the neuter form of any word herein shall also include the masculine and feminine forms, the masculine form shall include feminine and neuter, and the feminine form shall include masculine and neuter.
Article Eighteen: No Personal Liability
No officer, member, official, employee or agent of the City or the Board shall be individually or personally liable in connection with this Agreement.
Article Nineteen: Representatives
Immediately upon execution of this Agreement, the following individuals will represent the parties as a primary contact in all matters under this Agreement.
For the Board: Mary De Runtz, Deputy Chief Facilities Officer
Board of Education of the City of Chicago 42 West Madison Street, 9th Floor Chicago, Illinois 60602 Phone: 773-553-2900 Email:
For the City: Denise Roman, Economic Development Coordinator
City of Chicago, Department of Planning and Development
121 North LaSalle Street, Room 1003
Chicago, Illinois 60602
Phone: 312-744-6502
Email: denise.roman@cityofchicago.org
Each party agrees to promptly notify the other party of any change in its designated representative, which notice shall include the name, address, telephone number and fax number of the representative for such party for the purpose hereof.
[Signature Page Follows]
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IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed and delivered as of the date first above written.
City of Chicago, Illinois
By: .
Commissioner
Department of Planning and Development
The Board of Education of the City of Chicago
By:
Frank M. Clark, President
Attest:
Estela G. Beltran, Secretary
By:
Forrest Claypool, Chief Executive Officer
Board Report No. 01-0725-RS2
Approved as to legal form:
Ronald L. Marmer, General Counsel
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EXHIBIT 1
FEATURES OF THE FACILITY
This project involves improvements to bring both the Main Building and the Addition up to standards for accessibility.
Specifically the main building received a 2 stop elevator and a lift at the Gymnatorium stage. CPS replaced all classroom doors, upgraded all girls/boys toilet rooms, renovated new shared first-floor Pre-K toilet, added a new unisex toilet on the second floor, provided 5% of lockers for ADA compliance, replaced all drinking fountains, and created a new ADA compliant student station in the science room.
In the Addition, the library received a modified entrance landing and hardware. CPS also provided 4 new heights of drinking fountains in addition to existing and provided a new unisex toilet room for both the Severe and Profound classrooms. For 18 classrooms, CPS provided ADA compliant student station and coat hooks, new interior and exterior ADA compliant signage and updated landscaping to comply with Chicago Landscape Ordinance for the entire complex. CPS provided skim coat white boards, scraped and painted door and frame, corridor partial ceiling tile replacement and floor replacement, system upgrades to Plumbing, Fire Alarm and Security, upgraded lighting from T12 to T8 throughout and upgraded the science room to level 2.
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EXHIBIT 2
REQUISITION FORM _
State of Illinois' )
)SS
County of Cook )
The affiant, , of the Board of Education of
the City of Chicago, a body corporate and politic (the "Board"), hereby certifies that with respect
to that certain Intergovernmental Agreement between the Board and the City of Chicago dated
, 201_ regarding Chappell School (the "Agreement"):
A. The following is a true and complete statement of all expenditures for the Project
to date:
TOTAL: $
This paragraph B sets forth and is a true and complete statement of all costs of TIF-Funded Improvements for the Project reimbursed by the City to date:
$_
The Board requests reimbursement for the following cost of TIF-Funded Improvements:
$
None of the costs referenced in paragraph C above have been previously reimbursed by the City.
The Board hereby certifies to the City that, as of the date hereof:
Except as described in the attached certificate, the representations and warranties contained in the Agreement are true and correct and the Board is in compliance with all applicable covenants contained therein.
No Event of Default or condition or event which, with the giving of notice or passage of time or both, would constitute an Event of Default exists or has occurred.
The Board is in compliance with all applicable federal, state and local laws, statutes, ordinances, rules, regulations, codes and executive orders, as well as all policies, programs and procedures of the Board, all as may be in effect or as amended from time to time, pertaining to or affecting the Project or the Board as related thereto.
Attached hereto are: (1) a cost itemization of the applicable portions of the budget attached as Exhibit 3 to the Agreement; and (2) evidence of the expenditures upon TIF-Funded Improvements for which the Board hereby seeks reimbursement
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All capitalized terms which are not defined herein have the meanings given such in the Agreement.
THE BOARD OF EDUCATION
OF THE CITY OF CHICAGO, a body corporate and politic
By:
Name: Title:
Subscribed and sworn before me this day of.
My commission expires:_
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EXHIBIT 3
PROJECT BUDGET
Task
Design
Construction
CPS Administration
FF&E
Contingencies
Total
Project Estimate $188,262 $1,970,929 $128,110 $0
$0
$ 2,287,301
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EXHIBIT 4
PROJECT TIF-FUNDED IMPROVEMENTS
Task Project Estimate
Design $188,262
Construction $1,970,929
CPS Administration $128,110
FF&E $0
Contingencies $0
Total $ 2,287,301*
* Notwithstanding the total of TIF-Funded Improvements, the assistance to be provided by the City is limited to the amount of City Funds described in the recitals hereof above and shall not exceed $760,137.
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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
May 24, 2017
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 the execution of intergovernmental agreements with the Board of Education regarding TIF assistance for school-related improvements.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
CHICAGO June 28. 2017
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
An ordinance authorizing the Commissioner of the Department of Planning and Development to enter into and execute an Intergovernmental Agreement with the Chicago Board of Education for Tax Increment Financing (TIF) assistance for the Chappell School.
02017-3938
a viva voce vote
Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
dissenting vote(s).
This recommendation was concurred in by
of members of the committee with
Chairman
APP