OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
March 28,2018
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 sale of city-owned property.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe State of Illinois of 1970; and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to an ordinance adopted by the City Council of the City (the "City
Council") on February 27,2002, and published at pages 79794 through 80025 in the Journal of the Proceedings of the City Council of such date: (i) a certain redevelopment plan and project ("Plan") for the Chicago/Central Park Redevelopment Project Area ("Area"), was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"); (ii) the Area was designated as a redevelopment project area pursuant to the Act; and (iii) tax increment financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and
WHEREAS, the City is the owner of vacant land commonly known as 408-418 North Homan Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, CSRE Davita Garfield Park LLC, an Illinois limited liability company (the "Developer") is an affiliate of Clark Street Real Estate LLC, a Delaware limited liability company, whose offices are located at 980 North Michigan Avenue, Suite 1280, Chicago, Illinois 60611; and
WHEREAS, the Developer has proposed to purchase the Property from the City for the sum of One Hundr...
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