ACTION REQUESTED:
Title
Communication from the City Manager and Corporation Counsel for RATIFICATION of the July 31, 2014 AGREEMENT Entered into Between WESTLAKE LIMITED PARTNERSHIP, MORTON COMMUNITY BANK and the CITY OF PEORIA.
Body
BACKGROUND: Pursuant to Ordinance No. 17,111, the City Council on June 24, 2014, authorized an Agreement between "Westlake Shopping Center LLC", Morton Community Bank, and the City. However, it was later discovered before the signing that the proper party entering into the Agreement with Morton Community Bank and the City should have been identified as "Westlake Limited Partnership" instead of "Westlake Shopping Center LLC". The corrected Agreement, which is attached, was signed on July 31, 2014 by the City Manager as per the Ordinance.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: Correct Agreement would be ratified.
IMPACT IF DENIED: Correct Agreement would not be ratified.
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
2. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Grow employers and jobs.
2. Support sustainability.
DEPARTMENT: Legal