Resolution 2017-24 Resolution No. 2017-
_4
A RESOLUTION OF THE UNITED CITY OF YORKVILLE,KENDALL COUNTY,ILLINOIS,
APPROVING AN ASSIGNMENT OF CONTRACT TO ANTHONY PLACE YORKVILLE,L.P.
WHEREAS, the United City of Yorkville, Kendall County, Illinois ("Yorkville") are
duly organized and validly existing non home-rule municipalities created in accordance with the
Constitution of the State of Illinois of 1970 and the laws of this State; and,
WHEREAS, in order to proceed with the financing for the senior housing development
to be known as "Anthony's Place" the City has received a request to approve the assignment to
Anthony Place Yorkville, L.P., an Illinois Limited Partnership of the following agreements:
1. Development Agreement between the United City of Yorkville, Kendall County,
Illinois, and GC Housing Development, LLC, an Illinois limited liability
company, dated November 8, 2016; and,
2. Development Agreement between the United City of Yorkville, Kendall County,
Illinois, and GC Housing Development, LLC, an Illinois limited liability
company, Providing for a Housing Assistance Program, dated November 22,
2016.
WHEREAS, the City Council is prepared to approve said Assignment of Contract due to
the fact that the managing partners of Anthony Place Yorkville, L.P. are the same as the
managing partners of GC Housing Development, LLC.
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Section 1. That the Assignment of Contract, attached hereto and made a part hereof, is
hereby approved.
Section 2. This Resolution shall be in full force and effect from and after its passage and
approval as provided by law.
Resolution No.2017-p1
Page 1
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this
day of t ' 2017.
City Clerk �44
CARLO COLOSIMO KEN KOCH ly
t
JACKIE MILSCHEWSKI ARDEN JOE PLOCHER
l �
CHRIS FUNKHOUSER JOEL FRIEDERS
SEAVER TARULIS DIANE TEELING T
Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this
o�'c'3 day of Mp Y , 2017. �1- '
j'1/%
Mayor /Y
Attest:
Lie
�.
City Clerk
Resolution No.2017-,2
Page 2
ASSIGNMENT OF CONTRACT
This Assignment is made and entered into this(2Stay of April,2017,by GC HOUSING
DEVELOPMENT,LLC,an Illinois limited partnership("Assignor"),unto ANTHONY PLACE YORKVILLE,LP,
an Illinois limited partnership("Assignee").
WHEREAS,Assignor has entered into the following two(2)development agreements with the United
Town of Yorkville,with respect to the development of certain real property to be known as Anthony Place
Apartments,Yorkville,Illinois(collectively,the"Contracts"):
(1) Development Agreement between The United City of Yorkville, Kendall County,Illinois, and GC
Housing Development,LLC, an Illinois Limited Liability Company,Dated November 8,2016;and
(2) Development Agreement between The United City of Yorkville,Kendall County,Illinois,and GC
Housing Development,LLC,an Illinois Limited Liability Company,Providing for a Housing
Assistance Program,Dated November 22,2016.
WHEREAS,Assignor desires to assign the Contracts to Assignee, and Assignee desires to accept such
assignment from Assignor.
NOW,THEREFORE,for good and valuable consideration,the sufficiency and adequacy of which is
hereby acknowledged,Assignor hereby assigns and sets unto Assignee, all right,title, and interest in the Contracts.
GC HOUSING DEVELOPMENT,LLC,an Illinois limited
liability company /'� �,
By b ., t"e-e _
e ey D. Crane,Manager
ACCEPTANCE OF ASSIGNMENT
The undersigned hereby accepts the foregoing Assignment.
ANTHONY PLACE YORKVILLE,LP,an Illinois limited
partnership
By GC Housing Development Yorkville LLC,an Illinois limited
liability company, its managing general partner
By '% . C#-&�,
Je y D. Crane,Manager
CONSENT TO ASSIGNMENT
The undersigned hereby consents to the foregoing Assignment.
UNITED CITY OF YORKVILLE,an Illinois municipal
corporation
By s:
Its PAOfz-