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This record contains private information, which has been redacted from public viewing.
Record #: O2022-1699   
Type: Ordinance Status: Passed
Intro date: 5/23/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 6/22/2022
Title: Negotiated sale of City-owned property at 912 S California Ave to 914 S California LLC subject to environmental remediation and eligible reimbursement of costs
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2022-1699.pdf


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

May 23, 2022










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


Ladies and Gentlemen:

At the request oflhe Commissioner of Planning and Development, I transmit herewith ordinances authorizing the sale of City-owned properties.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours.

ORDINANCE

WHEREAS, the City of Chicago (the "City") is a home rule unit of government by virtue of the provisions of Article Vll, Section 6(a) 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 ofthe vacant parcel of real property located at 912 S. California Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS, pursuant to ordinances adopted by the City Council of the City (the "City Council") on May 17, 2000 and published in the Journal ofthe Proceedings ofthe City Council for such date, a certain redevelopment plan and project ("Plan") for the Midwest Tax Increment Financing Redevelopment Project Area ("Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act"), the Area was designated as a redevelopment project area pursuant to the Act, and tax increment financing was adopted pursuant to the Act as a means of financing certain Area redevelopment project costs (as defined in the Act) incurred pursuant to the Plan; and

WHEREAS, the Property is located in the Area; and

WHEREAS, 914 S. California, LLC, an Illinois limited liability company, with a principal business address of 900 S. California Avenue, Chicago, Illinois 60606 ("Grantee"), has offered to purchase the Property from the City for the sum of Twenty-Five Thousand and No/100 Dollars ($25,000.00) (the "Purchase Price"), such amo...

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