HomeMy WebLinkAboutORDINANCES-2003-082-O-038/6/03
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AN ORDINANCE
Authorizing the City Manager to Execute a
Redevelopment Agreement with KAP-SUM
For the Redevelopment of Main Street Commons
WHEREAS, the shopping center commonly known as Main Street Commons
contains a Sam's Warehouse Club and adjacent property with various retail stores, and:
and
WHEREAS, the majority of the center has remained vacant for several years;
WHEREAS, said vacancies have caused extreme hardship to the City with the
loss of employment opportunities for Evanston residents, real estate property taxes and
• sales tax revenue; and
WHEREAS, the corporate authorities of the City of Evanston, after due and
careful consideration, have concluded that the redevelopment of this area as outlined in
the attached Redevelopment Agreement will further the growth of the City, increase the
assessed valuation of the real estate, and increase the employment opportunities for
Evanston residents; and
WHEREAS, redevelopment pursuant to said Redevelopment Agreement, and
fulfillment generally of the Agreement, are in the vital and best interests of the City and
the health, safety and welfare of its residents and taxpayers, and
WHEREAS, the Economic Development Committee held meetings to review and
• discuss said proposal, receive comments from the community, and received information
from City consultants; and Redevelopment Agreement; and
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WHEREAS, the Economic Development Committee recommends that the City
Council approve the project and the Redevelopment Agreement.
NOW, THEREFORE, BE IT ORDAINED 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 Redevelopment Agreement with KAP-SUM for the redevelopment of
Main Street Commons, attached hereto as Exhibit A.
SECTION 2: That the City Manager is hereby authorized and directed to
negotiate any additional terms and conditions of the Redevelopment Agreement for
• Main Street Commons as may be determined are in the best interest of the City.
SECTION 3: That all ordinances or parts of ordinances in conflict herewith are
hereby repealed.
SECTION 4: That this ordinance shall be in full force and effect from and after its
passage, approval, and publication in the manner provided by law.
Introduced: OALA,4 A J`� , 2003
Adopted: Ll J, 2003
Approved:
• ATTEST:
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I rk
Ar, proved as o or
S Corporation Counsel
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