SUBSTITUTE ORDINANCE
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, the City has experienced a significant loss of industry and jobs in recent years, accompanied by a corresponding erosion of its tax base, due in part to industrial firms' inability to acquire additional property needed for their continued viability and growth; and
WHEREAS, many industrial firms adjoin streets and alleys that are no longer required for public use and might more productively be used for plant expansion and modernization, employee parking, improved security, truck loading areas or other industrial uses; and
WHEREAS, the City can strengthen established industrial areas and expand the city's jobs base by encouraging the growth and modernization of existing industrial facilities through the vacation of public streets and alleys for reduced compensation; and
WHEREAS, the properties at 4501-4561 W. Lyndale St., 4500-4560 W. Palmer St. and 2214-2226 N. Kilbourn Ave. are owned by Chicago Title Land Trusts 109044 & 109028; and
WHEREAS, Chicago Title Land Trusts 109044 & 109028 lease the property to Alpha Baking Company which employs two hundred fifty (250) full time employees; and
WHEREAS, Alpha Baking Company proposes to use the portion of the street and alley to be vacated herein for the parking and truck staging; and
WHEREAS, The City Council of the City of Chicago, after due investigation and consideration, has determined that the nature and extent of public use and the public interest to be subserved is such as to warrant the vacation of part of public street and alley described in the following ordinance; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. To Chicago Title Land Trusts 109044 & 109028: All that part of W. ...
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