HomeMy WebLinkAboutRESOLUTIONS-2001-020-R-01•
4/5/01
20-R-01
A RESOLUTION
Approving City Guaranty of a $250,000.00 Line of Credit
To Evanston Environmental Association for Renovation
Of the Ecology Center and Authorizing the
City Manager to Execute an Agreement with
Rehab Construction Co., Inc. for the Renovations
WHEREAS, on March 26, 2001, the City Council approved Resolution 20-R-01
which authorized the City Manager to execute an Agreement with the Evanston
Environmental Association ("the EEA") providing for the EEA's funding of major
renovations to the Evanston Ecology Center ("the Project") located within the City; and
WHEREAS, the EEA will fund $700,000.00 of the Project; and
WHEREAS, subsequent to passage of Resolution 20-R-01, the EEA was advised
that, as to $250,000.00 of the Project, First Bank and Trust, Evanston required a
guaranty in the amount of $250,000.00 for the construction line of credit; and
WHEREAS, the Project is in the best interests of the citizens of Evanston; and
WHEREAS, the best interests of the citizens of Evanston will be served by the
City's guaranty of the aforedescribed $250,000.00; and
WHEREAS, the delay the EEA encountered in obtaining its $250,000.00 line of
credit has caused funding for the Project to not be available within the sixty days during
which Rehab Construction Co., Inc. will maintain its offer of $636,585.00 to construct
the Project; and
WHEREAS, Rehab Construction, Co., Inc. has advised the City that it requires
• an additional $19,097.00 to extend its offer to April 20, 2001, .
20-R-01
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY •
OF EVANSTON, COOK COUNTY, ILLINOIS:
herein.
SECTION 1: That the foregoing recitals are found as facts and incorporated
SECTION 2: That the City Manager is hereby authorized to execute any and all
documents which evidence the City's guaranty of the above -described $250,000.00
construction line of credit from First Bank and Trust, Evanston to the EEA. The City
Manager is hereby authorized to negotiate any commercially reasonable terms and
conditions he deems appropriate and in the best interests of the City in connection with
said guaranty.
SECTION 3: That the City Manager is hereby authorized to execute
amendments consistent with this Resolution 20-R-01 to the Agreement between the 40
City and EEA approved by Resolution 19-R-01, and to negotiate any additional terms
and conditions he deems appropriate and in the best interests of the City.
SECTION 4: That the City Manager is hereby authorized to execute an
Agreement with Rehab Construction Co., Inc. in the amount of six hundred fifty-five
thousand six hundred eighty two dollars ($655,682.00) for construction of the Project
pursuant to Bid no. 00-98. Said $655,682.00 represents the original bid of $655,682.00
and the $19,,097.00 sum to extend the bid acceptance period.
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20-R-01
SECTION 5: This Resolution shall be in full force and effect from and after its
0 , passage and approval in the manner provided by law.
ATTEST:
C lerk
Adopted: i
ted' : ,c L , 2001
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Lorraine H. Morton, Mayor
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