HomeMy WebLinkAboutORDINANCES-1995-054-O-95• 5-19-95
54-0-95
AN ORDINANCE
Authorizing the City Manager to Execute Amendments to
the Redevelopment Agreement
WHEREAS, the Evanston City Council, in Ordinance 95-0-94,
authorized the City Manager to execute the Redevelopment Agreement
with the Church and Chicago Limited Partnership, JBC Evanston
Limited Partnership, Washington National Insurance Company, and the
John Buck Company, for the redevelopment of 1660 Chicago Avenue;
and
WHEREAS, the City adopted Ordinance 129-0-93 Adopting and
Approving Tax Increment Financing Redevelopment Plan and
Redevelopment Project; Ordinance 130-0-93, Designating the
Washington National Tax Increment Redevelopment Project Area; and
Ordinance 131-0-93, Adopting Tax Increment Financing; and
WHEREAS, the Redevelopment Agreement contained a
development schedule and major dates; and
WHEREAS, the Developer has diligently pursued financing for
the Project and is currently negotiating with various funding
sources; and
WHEREAS, the Developer has represented that it anticipates
receiving financing in the near future; and
WHEREAS, the Church and Chicago Limited Partnership, JBC
Evanston Limited Partnership, Washington National Insurance
Company, and the John Buck Company have requested an extension of
the development schedule; and
54-0-95
• WHEREAS, the City Council of the City of Evanston has
determined that the approval of the extension as hereinafter set
forth is in the best interests of the City of Evanston;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: Pursuant to Sec. 6-11-1-10 (A) (4) of the
Zoning Ordinance and Section 23 of the aforesaid Redevelopment
Agreement, the City Council, having found good cause to exist,
hereby amends Section 3(a) of the Redevelopment Agreement by
deleting the last sentence:
"Developer covenants that construction of the apartment
tower shall commence not later than June 1, 1995 and
• that Phase I of the Project shall be completed and
landscaped not later than July 1, 1997."
and substituting therefor:
"Developer covenants that construction of the apartment
tower shall commence not later than October 1, 1995; and
that Phase I of the Project shall be completed and
landscaped not later than October 29, 1997."
SECTION 2: That Section 4 (g) (2) of the Redevelopment
Agreement, which presently reads:
4.(g)(2) "Developer shall begin construction of Phase II
of the Project by July 1, 1998; and"
is hereby deleted, with the following substituted therefor:
• 4.(g)(2) "Developer shall begin construction of Phase II
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of the Project by July 1, 1998 and shall complete Phase
II on or before June 1, 1999; and
SECTION 3: That the aforementioned extensions are
conditioned upon the following:
A. The Developer shall provide weekly maintenance to the
1660 property;
B. A Letter of Intent regarding financing is executed by
and received by the City of Evanston no later than July 15, 1995;
C. That information necessary to perform a new zoning
analysis for Phase II is received by the City no later than July 1,
1995;
D. That if no Letter of Intent is received by July 15,
• 1995, then the Developer and Washington National shall commence
discussions regarding a new development plan for the 1660 Chicago
Avenue site.
E. If conditions A. through D. in this Section 3 are not
observed, then the extensions granted by this Ordinance 54-0-95 are
null and void and the dates set forth in Sections 3(a) and 4(g)(2)
of the Redevelopment Agreement as unmodified, executed on November
1, 1994 shall be operative, as shall all provisions of the Zoning
Ordinance regarding commencement of construction of a special use
and its completion.
SECTION 4: That the City Manager is hereby authorized and
directed to sign and the City Clerk is hereby authorized and
• directed to attest to the aforesaid amendments as set forth herein.
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The City Manager is further authorized to negotiate any changes or
additional terms and conditions with respect to the Redevelopment
Agreement as may be deemed fit and proper.
SECTION 5: That the City Manager and the City Clerk
respectively are hereby authorized and directed to execute, attest,
and deliver such other documents, agreements and certificates as
may be necessary.
Introduced: aM-o 2 1995
Adopted: �� Z Z 1995
A p ved: 1995
. Mayor
ATTEST:-�_
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City Clerk ( 'J
App owed as t f
Corporation C unsel
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