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This record contains private information, which has been redacted from public viewing.
Record #: O2020-6225   
Type: Ordinance Status: Passed
Intro date: 12/16/2020 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 1/27/2021
Title: Amendment of redevelopment agreements with various developers in Third Ward Parade of Homes Program for creation of environmental escrow accounts
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment
Attachments: 1. O2020-6225.pdf




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

December 16, 2020










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


Ladies and Gentlemen:

At the request of the Commissioner of Housing, 1 transmit herewith an ordinance authorizing the execution of amended redevelopment agreements for the Third Ward Parade of Homes Program.

Your favorable consideration of this ordinance will be appreciated.


Very truly your:

ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and
i
WHEREAS, the City's Department of Planning and Development ("DPD") previously has issued a Request for Qualifications ("RFQ") for its Third Ward Parade of Homes Program (the "Program"), which is intended to stimulate the development of market-rate housing west of King Drive in the Grand Boulevard community; and

WHEREAS, DPD determined that the following five (5) developers which responded to the RFQ are qualified to participate in the Program: (i) R & D Builders LLC, an Illinois limited liability company, located at 3935 South Wells Street, # 1, Chicago, Illinois; (ii) Click Development, LLC, an Illinois limited liability company, located at 427 East 48th Street, #2, Chicago, Illinois; (iii) Urban Equities, Inc., an Illinois corporation, located at 1016 West Jackson Boulevard, Chicago, Illinois; (iv) Wade Enterprise & Associates, Inc., an Illinois corporation, located at 3205 South Rhodes Avenue, Chicago, Illinois; and (v) Greenline Development, Inc., an Illinois corporation, located at 6625 South Ingleside Avenue, Chicago, Illinois (each, a "Developer," and, collectively, "Developers"); and

WHEREAS, Urban Equities, Inc., no longer participates in the Program; and

WHEREAS, pursuant to an ordinance ("Ordinance") adopted by the City Council on March...

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