TIME EXTENSION ORDINANCE COMMERCIAL VACATION
WHEREAS, the City of Chicago ("City") is a home rule unit of local government pursuant to Article VII, Section 6 (a) of the 1970 Constitution of the State of Illinois and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to ordinance ("Original Ordinance") adopted by the City Council ofthe City of Chicago ("City Council") on July 22, 2020, and published in the Journal ofthe Proceedings of the City Council for such date at pages 19442 through 19447, the City Council approved the vacation of certain portions of public streets to Fulton Market 375 LLC, an Illinois limited liability company ("Developer"); and
WHEREAS, the Developer was unable to record the Original Ordinance and associated plat of vacation prior to the one hundred eighty (180) day deadline cited in Section 6 of said Original Ordinance, and the Developer's authority to record the plat of vacation has expired; and
WHEREAS, the City Council now seeks to extend the deadline for recording the Original Ordinance and plat of vacation, in accordance with the terms of Section 6 of the Original Ordinance, so that the Developer may successfully complete the vacations from the City; and
WHEREAS, the properties at 933-957 W. Kinzie Street, 901-925 W. Kinzie Street, 364-372 N. Sangamon Street, and 365-373 N. Sangamon Street are owned by Developer; and
WHEREAS, the Developer proposes to use the portions ofthe streets to be vacated herein for the construction of a thirty-three story office building; and
WHEREAS, the City Council, after due investigation and consideration, has determined that the nature and extent of the public use and the public interest to be subserved is such as to warrant the vacation of those portions ofthe public streets described in this ordinance; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. VACATION OR
THAT PART OF W. KINZ...
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