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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230450
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Sponsor(s): Councilmembers Kathryn Shields and Kevin O'Neill
Extending the time to complete the Union Hill "353" Redevelopment Project located south of Union Cemetery, and north of E. 31st Street, between Main Street on the west and Gillham Road on the east, by approving the extension of the Project's schedule.
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WHEREAS, the City Council passed Ordinance No. 52129 on November 20, 1980, which approved the development plan (the "Plan") submitted by Union Hill Redevelopment Corporation ("UHRC") for the redevelopment of that area generally located south of Union Cemetery, and north of E. 31st Street, between Main Street on the west and Gillham Road on the east; and
WHEREAS, on December 16, 1980, the UHRC was designated as the Developer of the Plan; and
WHEREAS, on December 16, 1980, UHRC entered into a contract with the City pursuant to Ordinance No. 52129 (the "Contract") for implementation of the Plan; and
WHEREAS, UHRC amended the Plan three times, (i) October 20, 1983, by Ordinance No. 55680, (ii) November 21, 1985, by Ordinance No. 58712, and (iii) May 1, 1987, by Ordinance No. 60879 (collectively the "UHRC Plan Amendments"); and
WHEREAS, the Contract was amended three times, pursuant to (i) Ordinance No. 55680, passed October 20, 1983, (ii) Ordinance No. 58712, passed November 21, 1985, and (iii) Ordinance No. 60879, passed May 1, 1987 (collectively the "UHRC Contract Amendments"); and
WHEREAS, UHRC assigned that portion of the amended Plan known as "The Residence Inn Tract" to Union Hill Associates, which assignment was approved by Ordinance No. 61307, passed August 6, 1987; and
WHEREAS, as a result of UHRC's financial difficulties, including foreclosure of assets, UHRC was unable to continue with the redevelopment, UHRC assigned its remaining interest and rights under the amended Plan to the Phoenix Rede...
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