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This record contains private information, which has been redacted from public viewing.
Record #: O2022-3572   
Type: Ordinance Status: Passed
Intro date: 10/26/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 11/16/2022
Title: Change of ownership interest regarding Chicago Riverwalk Concessionaire agreement for Island Party Hut LLC d.b.a. Island Party Hut and Island Party Boat
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - License
Attachments: 1. O2022-3572.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
October 26. 2022










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Assets, Information and Services, I transmit herewith an ordinance authorizing a change of ownership ofa concessionaire that operates on the Chicago Riverwalk.

Your favorable consideration ofthis ordinance will be appreciated.


Very truly yours.

Mayor
ORDINANCE


WHEREAS, A Request for Proposals ("RFP") was issued by in January 2017 for the operation of concessions offering food and beverage, recreational, retail, cultural or educational activities for the public on the Chicago Riverwalk ("Riverwalk"), and. after evaluating responses, the City selected as one ofthe best value respondents Island Party Hut, LLC d/b/a Island Party Hut and Island Party Boat ("Licensee"); and

WHEREAS, City Council authorized the Department of Fleet and Facility (now the Department of Assets, Informalion and Services ("AIS")) lo negotiate and enter into a license agreement with Licensee pursuant lo an ordinance passed on February 28, 2018 (CJP 67173) (the "Ordinance"), and AIS and Licensee entered into a license agreement effective as of April 30, 2018, as authorized in the Ordinance;

WHEREAS, the License Agreement under Section 10.5.B(ii) provides that a "Change in Ownership" is subject to the consent of City Council; and

WHEREAS, ownership of the Licensee upon the date ofthe passage ofthe Ordinance was as set forth in the Economic Disclosure Statement and Affidavit attached to the License Agreement, a copy of which is attached hereto as Exhibit A (the "Initial EDS"); and
;
WHEREAS, one of the four owners of Licensee seeks to sell and assign his interest in the Licensee to certain of the remaining owners of the Licensee thereby leaving unchanged a majority ofthe owners ofthe Licensee, and resulting in the ownership as set forth in the form of Economic Disclosure Statement and ...

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