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HomeMy WebLinkAboutOrdinances - ORD-11-1561 - 10/03/2011 - PARKING LICENSE AGMT 1110 GREENORDINANCE NO. ORD-11-1561 AN ORDINANCE AUTHORIZING THE MAYOR'S EXECUTION OF A REVOCABLE PARKING LICENSE BETWEEN THE CITY OF MCHENRY, AN ILLINOIS MUNICIPAL CORPORATION AND 1110 GREEN LLC, A LIMITED LIABILITY COMPANY WHEREAS, the City of McHenry, McHenry County, Illinois, is a home rule: municipality as contemplated under Article VII, Section 6, of the Constitution of the State of Illinois, and the passage of this Ordinance constitutes an exercise of the City's home rule powers and functions as granted in the Constitution of the State of Illinois. NOW, THEREFORE, BE IT ORDAINED by the CITY COUNCIL of the CITY OF MCHENRY, McHenry County, Illinois, as follows: SECTION 1: The Revocable Parking License, bearing the date of October 3, 2011, issued by the City of McHenry in favor of 1110 Green LLC be and the same is hereby approved. A complete and accurate copy of said license, labeled "Revocable Parking License" is attached to this ordinance and incorporated herein by reference. SECTION 2: The Mayor and City Clerk are hereby authorized to affix their signatures as Mayor and City Clerk to said Revocable Parking License for the uses and purposes therein set forth. SECTION 3: All Ordinance or parts thereof in conflict with the terms and provisions hereof are hereby repealed to the extent of such conflict. SECTION 4: This Ordinance shall be published in pamphlet form by and under the authority of the corporate authorities of the City of McHenry, McHenry County, Illinois. SECTION 5: This Ordinance shall be in full force and effect from and after its passage, approval, and publication in pamphlet form as provided by law. PASSED AND APPROVED THIS 3rd DAY OF October2011 AYES: WTMMER. PETERSON, CONDON, LOW NAYS: SANTI, GLAB, SCHAEFER. ABSTAINED: NONE ABSENT: BLAKE NONE NOT VOTING: MAYOR ATTEST: CITY 6FRK I� Legal Description of Subject Property 3534 Waukegan Road, McHenry, Illinois 09-26-459-025 That part of the Southeast quarter of Section 26, Township 45 North, Range 8, East of the Third Principal Meridian. And; Part of the Southeast Quarter of Section 26, and part of the Northeast Quarter of Section 35, Township 45 North, Range 8, East of the Third Principal Meridian. And; That part of Lot 1, in Block 2 in Venice Park Addition to McHenry, Unit No. 1, a Subdivision of part of the Southeast Fractional Quarter of 26, and part of the Northeast Fractional Quarter of Section 35, Township 45 North, Range 8, East of the Third Principal Meridian, according to the Plat thereof, recorded February 25, 1941, as Document No. 152920, in Book 7 of Plats, page 68. And; Adjacent Vacant Land .05 acre Parcel. McHenry, Winois That part of Lot 1 in Block 2 in Venice Park addition to McHenry, Unit No. 1, a subdivision of part of the southeast quarter of Section 26 and part of the northeast quarter of Section 35, all in Township 45 North, Range 8 east of the third principal meridian, according the plat thereof recorded February 25, 1941 as document No. 152920, in Book 7 of plats, page 68. Both parcels generally located at the Northeast comer of Green Street and Waukegan Road, total of approximately 1.099 acres, south of Boone Lagoon, in McHenry, Illinois. REVOCABLE PARKING LICENSE This Revocable Parking License ("RPL") is hereby issued this 3rd Day of October, 2011, by the City of McHenry, an Illinois municipal corporation ("City") in favor of 1 l 10 Green LLC, a Delaware limited liability company ("Owner"). Recitals A. Whereas, the Owner holds title to a commercial and residential mixed -use building located at the northeast corner of Green and Waukegan Streets, McHenry, Illinois and commonly known as River Place Luxury Residences ("Subject Property"). B. Whereas, the Owner and the City are parties to a Third Amendment to Redevelopment Agreement, dated June 27, 2011 affecting the Subject Property. C. Whereas, pursuant to the terms of a Second Amendment to that certain Development Agreement approved by City Ordinance No. 09-1493, dated December 14, 2009, which also affects the Subject Property, the Owner is obligated to perpetually reserve five open on site public parking spaces, designated nos. 1-5 on the photo dated October 7, 2011, attached hereto as "Exhibit 1" ("Five Subject Parking Spaces") on the east side of the parking lot constructed on the Subject Property for use, at no charge, by the general public. D. Whereas, the parties hereto desire issuance of this RPL permitting the Owner's use of the Five Subject Parking Spaces, on a revocable basis, pursuant to the terms herein. NOW, THEREFORE the parties, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, agree as follows: 1. The City hereby issues to the Owner this revocable license of the Five Subject Parking Spaces for use by the tenants of the River Place Luxury Residences. The initial term of this license shall commence on October 3, 2011 and end on October 4, 2012. After October 4, 2012, this license may be revoked by the City, for any or no reason at all, upon 60 days' written notice to the Owner. 2. In consideration of the City issuing this RPL, Owner shall pay to the City an amoral permit fee of $1,000 with the first payment due upon the execution of this RPL and annual payments due on each annual anniversary date hereafter. In addition, Owner shall be obligated to fully maintain the Five Subject Parking Spaces and maintain liability insurance during the term of this RPL and the City shall be named an additional insured. The limits of liability shall not be less than $1,000,000 per person and in the aggregate and evidence of this insurance coverage shall be provided to the City upon execution of this RPL and thereafter upon request. City of McHenry 1110 Green LLC 7 By usan E. Low, Mayor Z:\M\McHenryCi tyoACudis\Revocablel.icenseAgreemenLdoc By , r Roy Blavvise, anager 655 W. hving Park Rd. Ste. 105 Chicago, 1160613 to Revocable Parking Lease 10/7/11