HomeMy WebLinkAboutRESOLUTIONS-2004-025-R-0404/21 /2004
25-R-04
A RESOLUTION
Authorizing the City Manager to Execute
Amendment No. 2 to Agreement Between City of
Evanston ("COE") and Evanston Environmental
Association ("EEA") Dated May 14, 2001
Regarding Major Capital Improvements to the
Evanston Ecology Center ("Center"), Project No. 00-98
WHEREAS, the City and the EEA entered into an Agreement dated May 14, 2001
setting forth their respective rights and obligations in connection with renovation and
expansion (collectively, "construction") of the Center, located at 2024 McCormick
Boulevard in Evanston; and
• WHEREAS, paragraph 4 of said Agreement, "Project Funding", provided for
$13,000.00 from the City, $364,000.00 from the EEA, a $250,000.00 line of credit from the
EEA, and an Illinois Department of National Resources ("IDNR") Grant of $73,000.00 to
fund the estimated total cost of construction of $655,682.00; and
WHEREAS, Change Order No. 1 increased the Project Cost by $11,516.00, for a
total of $667,198.00; and
WHEREAS, the funds received and paid out to date are IDNR Phase I grant
($73,000.00), IDNR Phase 2 grant ($97,200.00), individual fundraisers ($65,000.00), EEA
contribution ($300,066.22) and City ($13,000.00); and
WHEREAS, the EEA obtained a line of credit ("LOC") no. 9001, dated April 23, 2001
0 in the amount of $250,000.00, with First Bank and Trust, 828 Church Street, Evanston,
Illinois, Exhibit B attached hereto and made a part hereof; and
25-R-04 '
WHEREAS, the EEA borrowed approximately $120,000.00 from the aforedescribed •
LOC no. 9001 ; and
WHEREAS, the EEA obtained a loan of $120,000.00 from the City for two (2) years
at a fixed rate of three percent (3%) per annum to pay off LOC no. 9001 authorized by
Amendment no. 1 of the Agreement; and
WHEREAS, the EEA owes a principle balance of $90,000.00 on the loan as of April
21, 2004; and
WHEREAS, the EEA is unable to meet this obligation; and
WHEREAS, the EEA has requested an extension of the loan for three years; and
WHEREAS, the Center, with the financial assistance and efforts of the EEA,
provides environmental education programs and services to the Evanston Community; and
WHEREAS, the EEA's undertaking of a contribution of $787,000.00 to renovate and •
expand the Center provides significant monetary, social, and environmental benefits to the
citizens of Evanston; and
WHEREAS, the City is desirous of assisting the EEA with extending the loan; and
WHEREAS, monies saved by extending the payment date are available for future
EEA contributions to Ecology Center programs, which EEA agrees as additional
consideration to continue during the extended time for payment and thereafter; and
WHEREAS, the City is desirous of entering into an Amended Agreement with the
EEA for an Amendment no. 2 to the May 14, 2001 Agreement, which Amendment no. 2
provides for the loan of $90,000.00 to the EEA for three (3) years at a fixed rate of three
percent (3%) per annum; and
•
-2-
25-R-04
• WHEREAS, execution of the aforedescribed Amendment no. 2 is in the best
interests of the citizens of Evanston,.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the City Manager is hereby authorized and directed to sign, and
the City Clerk hereby authorized and directed to attest on behalf of the City of Evanston,
the Amendment no. 2-to Agreement Between the City and the EEA dated May 14, 2001
regarding Major Capital Improvements to the Evanston Ecology Center, Project no. 00-98,
in substantial conformity with that marked as Exhibit A attached hereto and incorporated
herein by reference.
SECTION 2: That the City Manager is hereby authorized and directed to negotiate
• any additional terms and conditions of the Amendment no. 2 as may be determined to be
in the best interests of the City.
SECTION 3: This Resolution shall be in full force and effect from and after its
passage, approval, and publication in the manner provided by law.
Mayor
ATTEST:
e�tjrlerk
Ado ted: 4`A "� �' , 2004
-3-