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File #: 2015-0515    Version: Name: UCMC - Ground Lease & Declaration - Approval & Ordinance
Type: ORDINANCE Status: PASSED
File created: 8/14/2015 In control: Board of Trustees
On agenda: 8/17/2015 Final action: 8/17/2015
Title: /Name/Summary AN ORDINANCE AUTHORIZING A GROUND LEASE AGREEMENT AND A DECLARATION OF EASEMENT AND A RECIPROCAL EASEMENT BETWEEN THE VILLAGE OF ORLAND PARK AND THE UNIVERSITY OF CHICAGO MEDICAL CENTER IN REGARD TO THE DEVELOPMENT OF A MULTI-STORY, MULTI-TENANT AMBULATORY CARE CENTER, INCLUDING A PHARMACY AND A MULTI-LEVEL PARKING STRUCTURE, WITHIN A PART OF THE ORLAND PARK MAIN STREET TRIANGLE TIF DISTRICT, AND AUTHORIZING THE EVENTUAL TRANSFER OF TITLE, TO CERTAIN REAL PROPERTY CURRENTLY OWNED BY THE VILLAGE, TO THE UNIVERSITY OF CHICAGO MEDICAL CENTER IN RELATION THERETO
Attachments: 1. MST Parcel Map, 2. University of Chicago Lease Agreement - Risk Factor Analysis, 3. UCMC - Revised Deal, 4. Ordinance, 5. UCMC ORD Exhibits A-1 thru E-2, 6. EXHIBIT D - Ground Lease FINAL 081415, 7. EXHIBIT F - Declaration with Exhibits FINAL 081415, 8. Ordinance 5018 with all Exhibits Attached
Title/Name/Summary
AN ORDINANCE AUTHORIZING A GROUND LEASE AGREEMENT AND A DECLARATION OF EASEMENT AND A RECIPROCAL EASEMENT BETWEEN THE VILLAGE OF ORLAND PARK AND THE UNIVERSITY OF CHICAGO MEDICAL CENTER IN REGARD TO THE DEVELOPMENT OF A MULTI-STORY, MULTI-TENANT AMBULATORY CARE CENTER, INCLUDING A PHARMACY AND A MULTI-LEVEL PARKING STRUCTURE, WITHIN A PART OF THE ORLAND PARK MAIN STREET TRIANGLE TIF DISTRICT, AND AUTHORIZING THE EVENTUAL TRANSFER OF TITLE, TO CERTAIN REAL PROPERTY CURRENTLY OWNED BY THE VILLAGE, TO THE UNIVERSITY OF CHICAGO MEDICAL CENTER IN RELATION THERETO

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BE IT ORDAINED, by the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois, as follows:

SECTION 1

The President and Board of Trustees of the Village of Orland Park (hereinafter referred to as the “Village”) find as follows:

A. The Village is a home rule unit of government in accordance with Article VII, Section 6 of the Constitution of the State of Illinois, 1970.

B. The Village has the authority, pursuant to the laws of the State of Illinois, to promote the health, safety and welfare of the Village and its inhabitants, to prevent the presence of blight, to encourage private development in order to enhance the local tax base and increase additional tax revenues realized by the Village, to foster increased economic activity within the Village, to increase employment opportunities within the Village, and to enter into contractual agreements with third parties for the purpose of achieving the aforesaid purposes, and otherwise take action in the best interests of the Village.

C. The Village is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq., as amended (the "Act"), to finance redevelopment in accordance with the conditions and requirements set forth in the Act.

D. Pursuant to Ordinance Numbers 3941, 3942 and 3943, adopted October 4, 2004, as amended by Ordinance Numbers ...

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