Office of the City Clerk - Record #: O2020-877

• Record #: O2020-877
• Type: Ordinance
• Status: Passed
• Intro date: 2/19/2020
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 4/24/2020
• Title: Sale of Union Station air rights to Amtrak under Right of First Offer Agreement in conjunction with Amtrak's Chicago Union Station Headhouse and Union Station Transportation Center improvements
• Sponsors: Lightfoot, Lori E.
• Topic: AGREEMENTS - Easement

Date	Journal Page Number	Action By	Action	Result
4/24/2020	15367	City Council	Passed	Pass
3/13/2020		Committee on Housing and Real Estate	Recommended to Pass
2/19/2020	13944	City Council	Referred

OFFICE OF THE MAYOR
CTTY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

February 19, 2020










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Transportation, I transmit herewith an ordinance authorizing the sale of air rights in conjunction with the Union Station Transportation Center.

Your favorable consideration ofthis ordinance will be appreciated.


Very truly yours,

ORDINANCE
WHEREAS, the City of Chicago is an Illinois municipal corporation and home rule unit of local government ("City"); and

WHEREAS, National Railroad Passenger Corporation is a District of Columbia corporation ("Amtrak"); and
WHEREAS, City owns the property legally described on Exhibit A, attached hereto and incorporated herein (the "City Property"); and
WHEREAS, Amtrak owns the property legally described on Exhibit B, attached hereto and incorporated herein (the "Amtrak Property"); and
WHEREAS, pursuant to the Right of First Offer Agreement between Cily and Amtrak dated May 1, 2015 (the "ROFO Agreement"), City agreed to grant to Amtrak a right of first offer with respect to certain City-owned air rights (the "Air Rights") over part of the City Property described on Exhibit C attached hereto and incorporated herein (the "Air Space"); and
WHEREAS, pursuant to the ROFO Agreement, at the closing on the sale of the Air Rights by City to Amtrak, the sale proceeds (the "Sale Price") shall be paid into escrow (the "Escrow") with Chicago Title and Trust Company, or such other title company selected by City, subject to a separate escrow agreement to be entered into by and between City and Amtrak (the "Escrow Agreement"); and

WHEREAS, pursuant to the ROFO Agreement, the Sale Price paid into the Escrow (the "Escrow Funds") may be disbursed to reimburse Amtrak for costs and expenses mutually approved by the parties and actually incurred by Amtrak (the "Reimbursement Funds") for the development, redevelopment or further improvement ...