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JOURNAL of the PROCEEDINGS of the F - CITY COUNCIL E^ of the V - * CITY of CHICAGO, ILLINOIS

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JOURNAL of the PROCEEDINGS of the F - CITY COUNCIL E^ of the V - * CITY of CHICAGO, ILLINOIS (Published by the Authority of the City Council of the City of Chicago) COPY c-.^ *^ c r JOURNAL of the PROCEEDINGS of the f - CITY COUNCIL e^ of the V - * CITY of CHICAGO, ILLINOIS Regular Meeting-Wednesday, March 29, 1989 at 10:00 A. M. (Council Chamber-City Hall-Chicago, Illinois) •x OFFICIAL RECORD. EUGENE SAWYER WALTER S. KOZUBOWSKI Acting Mayor City Clerk 3/29/89 COMMUNICATIONS, ETC. 26307 Attendance At Meeting. Present - The Honorable Eugene Sawyer, Acting Mayor, and Aldermen Roti, Rush, Tillman, T, Evans, Bloom, Robinson, Beavers, Caldwell, Shaw, Huels, Fary, Burke, Langford, Streeter, Kellam, Sheahan, Jones, J. Evans, Garcia, Soliz, Gutierrez, Butler, Smith, Davis, Hagopian, Figueroa, Gabinski, Mell, Austin, Kotlarz, Banks, Giles, Cullerton, Laurino, O'Connor, Pucinski, Natarus, Eisendrath, Hansen, Levar, Shiller, Schulter, Osterman, Orr, Stone, Absent- Aldermen Vrdolyak, Madrzyk, Carter, Krystyniak, Henry, Call To Order. On Wednesday, March 29, 1989 at 10:58 A,M, (the hour appointed for the meeting was 10:00 A,M,) The Honorable Eugene Sawyer, Acting Mayor, called the City Courtcil to order. Mr. Daniel J, Burke, Deputy City Clerk, called the roll of members and it was found that there were present at that time: Aldermert Roti, T, Evarts, Bloom, Robinson, Beavers, Caldwell, Shaw, Huels, Fary, Burke, Langford, Streeter, Kellam, Sheahan, Jones, Garcia, Soliz, Gutierrez, Smith, Davis, Hagopian, Figueroa, Gabirtski, Mell, Austin, Kotlarz, Banks, Giles, Cullerton, Laurino, O'Connor, Pucinski, Natarus, Eisendrath, Hansen, Levar, Shiller, Osterman, Orr, Stone - 40. Quorum present. Invocation. Father Bill Hasaert, Saint Viators Church, opened the meetirtg with prayer. REPORTS AND COMMUNICATIONS FROM CITY OFFICERS. 26308 JOURNAL-CITY COUNCIL-CHICAGO 3/29/89 Rules Suspended-EXECUTION OF REDEVELOPMENT/LOAN AGREEMENT WITH HELENE CURTIS, INCORPORATED, The Hortorable Eugene Sawyer, Acting Mayor, submitted the following communication: OFFICE OF THE MAYOR CITY OF CHICAGO To the Honorable, The City Council ofthe City ofChicago: LADIES AND GENTLEMEN - At the request of the Commissioner of the Departmertt of Ecortomic Development, I transmit herewith an ordinance providing for the authorization to execute the Redevelopment/Loan Agreement, and all other instruments, documents and agreements necessary and proper to effectuate the terms of the Helerte Curtis, Incorporated U.D,A,G, Grant Agreement (U,D,A,G. No, B-88-AA-17-0267), Your favorable consideration ofthis ordinartce will be appreciated. Very truly yours, (Signed) EUGENE SAWYER, Mayor. Alderman Natarus moved to Suspend the Rules Temporarily for the immediate consideration ofand action upon the said proposed ordinance. The motion Prevailed by a viva voce vote. Alderman Natarus then moved to Pass the said proposed ordinance. The motion Prevailed by yeas and nays as follows: Yeas — Aldermen Roti, T. Evans, Bloom, Robinson, Beavers, Caldwell, Shaw, Huels, Fary, Burke, Langford, Streeter, Kellam, Sheahan, Jones, Garcia, Soliz, Smith, Davis, Figueroa, Gabirtski, Mell, Austin, Kotlarz, Banks, Giles, Cullerton, Laurino, O'Connor, Pucinski, Natarus, Eisendrath, Hansen, Levar, Shiller, Osterman, Orr, Stone ~ 38. Nays - None. Alderman Cullerton moved to reconsider the foregoing vote. The motion was lost. Alderman Hagopian was excused from voting under the provisions of Rule 14 of the Council's Rules of Order, 3/29/89 COMMUNICATIONS, ETC. 26309 Alderman Natarus then requested that the record reflect the said passed ordinance was transmitted to the Mayor, who affixed his signature to the ordinance at 11:03 A.M, The following is said ordinance as passed: WHEREAS, On December 9, 1987, after publication of notice and a public hearing, the City Council ("City Courtcil") of the City of Chicago (the "City") passed an ordinance authorizing the submission of an application to the United States Department of Housing and Urban Development ("H.U.D,") for an Urban Development Action Grartt ("U,D,A,G,") to assist in the construction of a warehouse and distribution center ("Project") for Helene Curtis, Incorporated to be located on a 32-acre site at the northeast corner of Cicero and Division Streets, (Journal of Proceedings, pp. 6551 - 6552); and WHEREAS, On February 4, 1988, H.U.D. gave preliminary approval for a U.D.A.G, Grant No, B-88-AA-17-0267 in the amount of $2,643,000; now, therefore. Be It Ordained by the City Council ofthe City ofChicago: SECTION 1, The Commissioner of the Department of Economic Development is authorized to enter into and execute, on behalf of the City, subject to review as to form and legality by the Corporatiort Courtsel, the Redevelopmertt/Loan Agreemertt ("Agreement") with Helene Curtis by which the City will loan $2,643,000 to Helene Curtis for the partial finartcing of the construction and capital equipment of the Project, SECTION 2, The Commissioner ofthe Department of Economic Development is further authorized to enter into and execute all other instruments, documents and agreements as may be necessary and proper to effectuate the terms and conditiorts of the Urban Development Action Grant No. B-88-AA-17-0267 and the Agreement, said Agreement to be in substantial compliance with the following terms: Amount: $2,643,000 Term: 10 years Security: First mortgage on the land, buildings, fixtures, and equipment of the Project. However, in the event that H.U.D. executes an amendment, permitting a subordination of the mortgage or an interest in a subdivided portion of the property in the event of future expansion, such subordination or subdivision shall not require further City Council action to the extent that the value of the security retained by the City equals or exceeds the value granted to the City at the closing of the loan. 26310 JOURNAL-CITY COUNCIL-CHICAGO 3/29/89 Repayment: 6% interest will be paid quarterly over the term of the Loan, with a balloon payment of principal and accrued and unpaid interest due and payable at maturity. SECTION 3. This ordinartce shall be efTective from and after the date of its passage. Rules Suspended-EXECUTION OF REDEVELOPMENT/LOAN AGREEMENT WITH DIVERSEY INDUSTRIAL LIMITED PARTNERSHIP, The Honorable Eugene Sawyer, Acting Mayor, submitted the following communication: OFFICE OF THE MAYOR CITY OF CHICAGO To the Honorable, The City Council ofthe City ofChicago: LADIES AND GENTLEMEN - At the request ofthe Commissioner ofthe Department of Economic Development, I transmit herewith an ordinance providing for the authorization to execute the Redevelopment/Loan Agreement, and all other instruments, documents and agreements necessary and proper to effectuate the terms of the Diversey Industrial Limited Partnership U.D.A.G. Grant Agreement (U.D.A.G, No, B-85-AA-17- 0275), Your favorable consideration ofthis ordinance will be appreciated. Very truly yours, (Signed) EUGENE SAWYER, Mayor. Alderman Natarus moved to Suspertrf the Rules Temporarily for immediate consideration ofand action upon the said proposed ordinance. The motion Prevailed by a viva voce vote. Alderman Natarus then moved to Pass the said proposed ordinance. The motion Prevailed by yeas and nays as follows: 3/29/89 COMMUNICATIONS, ETC. 26311 Yeas - Aldermen Roti, T, Evans, Bloom, Robinson, Beavers, Caldwell, Shaw, Huels, Fary, Burke, Langford, Streeter, Kellam, Sheahan, Jones, Garcia, Soliz, Smith, Davis, Hagopian, Figueroa, Gabinski, Mell, Austin, Kotlarz, Banks, Giles, Cullerton, Laurino, O'Connor, Pucinski, Natarus, Eisendrath, Hansen, Levar, Shiller, Osterman, Orr, Stone - 39, Nays - None, Alderman Cullerton moved to reconsider the foregoing vote. The motion was lost. Alderman Natarus then requested that the record reflect the said passed ordinance was transmitted to the Mayor, who aifixed his signature to the ordinance at 11:05 A,M, The following is said ordinance as passed: WHEREAS, On March 30, 1988, after publication of notice and a public hearing, the City Council ("City Council") of the City of Chicago (the "City") passed an ordinance authorizing the submissiort of an application to the United States Department of Housing and Urban Development ("H,U,D,") for an Urban Development Action Grant ("U,D,A,G,") to assist in the construction of a 42,000 square foot light industrial facility ("Project") for the Diversey Avenue Tech, Center to be located at 1774 West Diversey Avenue, (Journal of Proceedings, pages 11292 - 11293); and WHEREAS, On June 8, 1988, H,U,D, gave preliminary approval for a U.D,A,G. Grant No, B-85-AA-17-0275 in the amount of $250,000; now, therefore. Be It Ordained by the City Council ofthe City ofChicago: SECTION 1, The Commissioner of the Department of Economic Development is authorized to enter into and execute, ort behalf of the City, subject to review as to form and legality by the Corporation Counsel, the Redevelopment/Loan Agreement ("Agreement") with Diversey Industrial Limited Partnership by which the City will loan $250,000 to Diversey Industrial Limited Partnership for the partial finaricirtg ofthe construction ofthe Project, SECTION 2, The Commissioner ofthe Department of Economic Development is further authorized to enter into and execute all other instruments, documents and agreements as may be necessary and proper to effectuate the terms and conditions of the Urban Development Action Grant No, B-85-AA-17-0275 and the Agreement, said Agreement to be in substantial compliance with the following terms: Amount: $250,000 Term: 15 years Security: A second mortgage and assignment of rents. Personal guaranty ofthe general partners. 26312 JOURNAL-CITY
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