HomeMy WebLinkAboutRESOLUTIONS-2016-071-R-1611/11/2016
71-R-16
A RESOLUTION
Authorizing the City Manager to Execute a Memorandum of
Understanding for the Future Development of City -Owned
Property at 721-723 Howard Street
WHEREAS, the City of Evanston owns a commercial property
located at 721-723 Howard Street, Evanston, Illinois 60202 (the "Subject
Property"); and
WHEREAS, the Subject Property is improved with a one-story (with
basement) 3,545 square foot building and the total property is 5,001 square feet;
and
WHEREAS, the City has identified a potential partner to redevelop
the Property, Theo Ubique Theater Company, an Illinois not -for -profit
corporation; and
WHEREAS, Theo Ubique seeks to redevelop the Subject Property
into a dinner theater use, the total projected cost to renovate the building is $1.4
Million; and
WHEREAS, the Parties propose to enter into a memorandum of
understanding in order to set forth the general terms for the Project and allow for
fundraising to commence and formal direction from the City Council to proceed
with the redevelopment of the Subject Property; and
WHEREAS, the City Council has determined that the best interests of
the City of Evanston would be served by executing a memorandum of
71-R-16
understanding with the prospective tenant for the Subject Property and affirming its
support for the project. Any undertaking to execute a definitive agreement between
the parties is subject to further City Council review and approval at a later date,
NOW BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: The City Council hereby agrees to formally move
forward with efforts and activities to complete establishing the dinner theater
proposed use to Howard Street and selects the Subject Property for that project.
SECTION 2: The City Manager is hereby authorized and directed
to execute this memorandum of understanding, attached hereto as Exhibit A.
SECTION 3: In order to follow the direction outlined in Section 1,
City Manager is authorized to negotiate all necessary terms for a construction
agreement and lease agreement, both to be reviewed and approved by Council
at a later date, and in a form acceptable to the Corporation Counsel.
SECTION 4: The proposed budget for the project is attached as
Exhibit B, final authorization on the budget will return to City Council for review
and approval at a subsequent City Council meeting.
SECTION 5: That this Resolution 71-R-16 shall be in full force and
effect from and after its passage and approval in the manner provided by law.
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Attest:
Rodney Gr ne, City Clerk
Adopted: N01 ULU)j 2-b , 2016
ElizatS th B. Tisdahl, Mayor
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71-R-16
EXHIBIT A
MEMORANDUM OF UNDERSTANDING
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EXHIBIT B
PROPOSED PROJECT BUDGET
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