HomeMy WebLinkAboutRESOLUTIONS-2012-054-R-12e
It
•
6/21 /2012
54-R-12
A RESOLUTION
Authorizing the City Manager to Negotiate a
TIF Redevelopment Agreement Regarding the
Evanston Plaza Shopping Center ("Dempster Dodge")
NOW BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS, THAT:
SECTION 1: The City Manager is hereby authorized and directed to
negotiate a Tax Increment Financing ("TIF") redevelopment agreement ("RDA") with
Bonnie Management Corp. ("Bonnie"), owner of the property that is legally and generally
described in Exhibits A and B, attached hereto and incorporated herein by reference,
• commonly known as Evanston Plaza Shopping Center (the "Subject Property").
SECTION 2: Any such negotiated RDA shall: not have a term that extends
0
beyond December 31, 2019; limit the total amount of TIF funds to be distributed to Bonnie
to two million dollars ($2,000,000.00); expressly limit the use of said funds to tenant
improvements, site improvements, and/or canopy repair.
SECTION 3: Any such RDA shall be subject to approval of the City Council,
which hereby reserves the right to reject any and all negotiations.
SECTION 4: This resolution shall be in full force and effect from and after its
passage, approval, and publication in the manner provided by law.
s
Attest:
Rodney gene, City Clerk
Adopted: on 5 , 2012
eeth
�Tisdahl,
Eliz
Mayor
54-R-12
U
ri
U
•
-2-
r
•
54-R-12
EXHIBIT A
Legal Description
THAT PART OF THE NORTH HALF OF SECTION 24, TOWNSHIP 41 NORTH, RANGE 13 EAST
OF THE THIRD PRINCIPAL MERIDIAN IN COOK COUNTY, ILLINOIS, DESCRIBED AS
FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF LOT 1 IN BANBURY THIRD CONSOLIDATION,
BEING A PLAT IN THAT PART OF THE NORTHWEST QUARTER OF SAID SECTION 24,
ACCORDING TO THE PLAT THEREOF RECORDED MARCH 27, 1987 AS DOCUMENT NO.
87162463; THENCE SOUTHWESTERLY, WESTERLY, SOUTHWESTERLY, SOUTHEASTERLY
AND SOUTHWESTERLY ALONG THE NORTHWESTERLY LINE OF SAID LOT 1 TO A POINT
THAT IS 241.64 FEET NORTHWESTERLY OF THE MOST SOUTHWESTERLY CORNER OF
SAID LOT 1 AS MEASURED ALONG SAID NORTHWESTERLY LINE; THENCE
SOUTHEASTERLY AT A RIGHTANGLE TO SAID NORTHWESTERLY LINE 5.00 FEET; THENCE
SOUTHWESTERLY ALONG .A LINE 5.00 FEET SOUTHEASTERLY OF AND PARALLEL TO SAID
NORTHWESTERLY LINE TO A POINT ON THE NORTH RIGHT-OF-WAY LINE OF GREENLEAF
STREET; THENCE EASTERLY ALONG SAID NORTH RIGHT-OF-WAY LINE OF GREENLEAF
STREET TO THE SOUTHWEST CORNER OF LOT 1 IN ARENS CONTROLS, INC.
CONSOLIDATION, BEING A, PART OF THE NORTHWEST QUARTER OF SAID SECTION 24,
ACCORDING TO THE PLAT THEREOF RECORDED MAY 20, 1992 AS DOCUMENT NO.
• 92349794; THENCE NORTHEASTERLY ALONG THE WESTERLY LINE OF SAID LOT 1 IN
ARENS CONTROLS, INC. CONSOLIDATION TO THE NORTHWEST CORNER OF SAID LOT 1;
THENCE EASTERLY ALONG THE NORTH LINE OF SAID LOT 1 TO A POINT OF CURVE;
THENCE SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 40.00 FEET, AN ARC
LENGTH OF 64.45 FEET TO A POINT OF TANGENCY ON THE EAST LINE OF SAID LOT 1;
THENCE SOUTHERLY ALONG SAID EAST LINE TO A CORNER POINT FOR LOT 1 IN SAID
BANBURY THIRD CONSOLIDATION; THENCE EASTERLY ALONG THE SOUTH LINE OF SAID
LOT 1 IN BANBURY THIRD CONSOLIDATION TO A POINT ON THE WEST RIGHT-OF-WAY
LINE OF BROWN AVENUE; THENCE NORTHERLY ALONG SAID WEST RIGHT-OF-WAY LINE
OF BROWN AVENUE TO A POINT ON THE SOUTH LINE OF SAID LOT 1 IN BANBURY THIRD
CONSOLIDATION; THENCE EASTERLY ALONG SAID SOUTH LINE OF LOT 1 AND THE
EASTERLY EXTENSION THEREOF TO THE EAST RIGHT-OF-WAY LINE OF DODGE AVENUE;
THENCE NORTHERLY ALONG SAID EAST RIGHT-OF-WAY LINE TO THE NORTHWEST
CORNER OF LOT 1 IN KEAT'S RESUBDIVISION, BEING A SUBDIVISION IN THE NORTHEAST
QUARTER OF SAID SECTION 24, ACCORDING TO THE PLAT THEREOF RECORDED
SEPTEMBER 28, 1989 AS DOCUMENT NO. 89458950; THENCE WESTERLY ALONG THE
WESTERLY EXTENSION OF THE NORTH LINE OF SAID LOT 1 TO A POINT OF
INTERSECTION WITH THE WEST RIGHT-OF-WAY LINE OF SAID DODGE AVENUE; THENCE
NORTHERLY ALONG SAID WEST RIGHT-OF-WAY LINE TO A POINT OF INTERSECTION WITH
THE SOUTH RIGHT-OF-WAY LINE OF DEMPSTER STREET; THENCE WESTERLY,
NORTHERLY AND WESTERLY ALONG SAID SOUTH RIGHT-OFWAY LINE TO THE POINT OF
BEGINNING.
•
-3-
EXHIBIT B
General Street Location
54-R-12
•
Retail/commercial parcels southwest of the intersection of Dempster Street and Dodge
Avenue in Evanston, Illinois.
•
LJ
MC