ORDINANCE
WHEREAS, On July 26, 2017, the Chicago City Council passed ordinance 02017-5087 ("Ordinance"), which is the fifty-first amendment of an agreement with SomerCor 504, Inc. The purpose of the Ordinance was to increase grant funds for improvement of commercial and industrial facilities of small businesses in various redevelopment areas; and
WHEREAS, Following the passage of the Ordinance, it was discovered that Exhibit A contains a scrivener's error concerning agreement between a dollar amount written in numbers and the same dollar amount written in words; and
WHEREAS, It is necessary and advisable to correct said error in said Exhibit A; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. Exhibit A to the Ordinance is hereby repealed and replaced in its entirety with Exhibit A attached hereto.
SECTION 2. This ordinance shall be effective upon passage and approval.
EXHIBIT A
EXHIBIT A
Form of Fifty-First Amending Agreement to
ADMINISTRATIVE SERVICES AGREEMENT
This Fifty-First Amending Agreement to Administrative Services Agreement (the
"Agreement") is made this day of , 2017, 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, 20...
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