SUBSTITUTE
ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1: On behalf of the City of Chicago as Tenant, the Commissioner of the Department of Fleet and Facility Management is authorized to execute a Sub-Lease with the Chicago Housing Authority, as Landlord, for use of building space located at 955 East 131st Street by the Chicago Public Library as the Altgeld Branch Library; such Sub-Lease to be approved by the Commissioner of the Chicago Public Library, the President of the Chicago Public Library Board of Directors, and approved as to form and legality by the Corporation Counsel in substantially the following form:
955 East 131 st Street
Chicago Public Library - Altgeld Branch
SECTION 2: This Ordinance shall be effective from and after the date of its passage and approval.
SUB-LEASE
THIS LEASE is made and entered into this [ day of ], 2019 (the
"Commencement Date"), by and between CHICAGO HOUSING AUTHORITY, an Illinois municipal corporation, with a principal place of business located at 60 E. Van Buren Street, 10th Floor, Chicago, Illinois 60661 (hereinafter referred to as "Landlord") and the CITY OF CHICAGO, an Illinois municipal corporation and home rule unit of government (hereinafter referred to as "City" or "Tenant").
RECITALS
WHEREAS, Landlord is the owner of the fee estate legally described on Exhibit A attached hereto, incorporated by this reference, and generally located at 955 E. 131s1 Street, Chicago, Cook County, Illinois (the "Property");
WHEREAS, Landlord has leased the Property to AFRC LLC, an Illinois limited liability company ("AFRC"), for a term of 99 years pursuant to that certain Ground Lease by and between Landlord and AFRC (the "Ground Lease");
WHERAS, AFRC will develop improvements at the Property and has agreed to lease the
improvements to the Landlord for a term of 30 years pursuant to that certain Net Lease dated
[ ], 2019 (the "Master Lease");
WHEREAS, AFRC has obtained a loan from each of (i) ...
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