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, the City is the owner of the vacant parcel of property located at 1258 South Karlov Avenue, Chicago, Illinois 60623, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS pursuant to ordinances adopted by the City Council of the City of Chicago ("City Council") on April 9, 2008, and published at pages 24221 through 24477 in the Journal of Proceedings ofthe City Council for such date, the City Council approved a certain redevelopment plan and project for the Ogden/Pulaski Redevelopment Project Area ("TIF Area"); and
WHEREAS, Ahmed El-Nazer (the "Grantee"), which has a business address of 422 West Riverside Drive, Unit 305, Austin, Texas 78704, has offered to purchase the Property from the City for the sum of Eight Thousand Five Hundred Dollars ($8,500.00), such amount being the appraised fair market value of the Property, to improve with landscaped open space thereon; and
WHEREAS, pursuant to Resolution No. 19-035-21 adopted on June 20, 2019, by the Plan Commission ofthe City (the "Commission"), the Commission approved the negotiated sale ofthe Property to the Grantee; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale ofthe Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun Times, a newspaper of general circulation, on May 17 and May 24, 2019; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The City Council hereby approves the sale ofthe Property to the Grantee for the amount of Eight Thousand Five Hundred 00/100 Dollars ($8,500.00).
SECTION 2. The Mayor or his proxy is authorized to execute, and the City Clerk or Deputy City Clerk is authorized to attest, a quitclaim deed conveying the Property to the Grantee. The quitclaim deed shall also contain language substantially in the following form:
This conveyance is subject to the express condition that: the Property is improved with landscaped open space within six (6) months of the date of this deed. In the event that the condition is not met, the City of Chicago may re-enter the Property and revest title in the City of Chicago. Grantee, at the request of the City of Chicago, covenants to execute and deliver to the City a reconveyance deed to the Property to further evidence such revesting of title. This right of reverter in favor of the City of Chicago shall terminate upon the issuance of a certificate of completion, release or similar instrument by the City of Chicago.
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The Grantee acknowledges that if the Grantee develops the Property with a residential housing project, as defined under, and that is subject to, Section 2-44-080 of the Municipal Code ofthe City (the "2015 Affordable Requirements Ordinance"), the Grantee and such project shall be obligated to comply with the 2015 Affordable Requirements Ordinance.
SECTION 3. If any provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such provision shall not affect any of the other provisions of this ordinance.
SECTION 4. All ordinances, resolutions, motions or orders inconsistent with this ordinance are hereby repealed to the extent of such conflict.
SECTION 5. This ordinance shall take effect upon its passage and approval.
EXHIBIT A
Purchaser: Ahmed El-Nazer
Purchaser's Address: 422 West Riverside Drive, Unit 305
Austin, Texas 78704 Purchase Amount: $8,500.00 Appraised Value: $8,500.00
Legal Description (Subject to Title Commitment and Survey):
Lot 30 in Block 3 in William A. Merigold's Resubdivision ofthe north 50 Acres ofthe east half of the northeast quarter of Section 22, Township 39 North, Range 13, East of the Third Principal Meridian, in Cook County, Illinois.