Second amendment to redevelopment agreement and second amendment to authorizing ordinance with Our Revival Chicago LLC, Our Revival Chicago Operating Company LLC and Southside Revival NFP for restoration of Ramova Theater at 3518 S Halsted St
- Record number: SO2024-0012446
- Type: Ordinance; category: Agreements
- Status: Final
- Sponsor: Johnson, Brandon
- Committee: Committee on Finance
- Introduction Date: Sep 18, 2024
- Final Action Date: Oct 9, 2024
- Official record: Office of the City Clerk
Roll call: Passed Oct 9, 2024
48 yea, 0 nay, 1 absent. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the City Council meeting of Oct 9, 2024.
Yea (48): Daniel La Spata (1), Brian Hopkins (2), Pat Dowell (3), Lamont J. Robinson (4), Desmon C. Yancy (5), William E. Hall (6), Gregory I. Mitchell (7), Michelle A. Harris (8), Anthony Beale (9), Peter Chico (10), Nicole T. Lee (11), Julia M. Ramirez (12), Marty Quinn (13), Jeylú B. Gutiérrez (14), Raymond A. Lopez (15), Stephanie D. Coleman (16), David H. Moore (17), Derrick G. Curtis (18), Matthew J. O'Shea (19), Jeanette B. Taylor (20), Ronnie L. Mosley (21), Michael D. Rodriguez (22), Silvana Tabares (23), Monique L. Scott (24), Byron Sigcho-López (25), Jessica L. Fuentes (26), Walter R. Burnett (27), Jason C. Ervin (28), Chris Taliaferro (29), Ruth Cruz (30), Felix Cardona Jr. (31), Scott Waguespack (32), Rossana Rodríguez Sánchez (33), William Conway (34), Gilbert Villegas (36), Nicholas Sposato (38), Samantha Nugent (39), Andre Vasquez Jr. (40), Anthony V. Napolitano (41), Brendan Reilly (42), Timothy R. Knudsen (43), Bennett R. Lawson (44), James M. Gardiner (45), Angela Clay (46), Matthew J. Martin (47), Leni Manaa-Hoppenworth (48), Maria E. Hadden (49), Debra L. Silverstein (50)
Absent (1): Emma Mitts (37)
Not voting (1): Carlos Ramirez-Rosa (former member)
Impact report
Written by AI from the official document. AI can make mistakes; the official document always wins.
The City would raise the amount of tax increment (TIF) money it can pay to the developers restoring the Ramova Theater to $15,596,000 and approve a second amendment to their redevelopment agreement.
Who it affects
- Our Revival Chicago LLC, Our Revival Chicago Operating Company LLC, and Southside Revival NFP (the Developer): They could receive up to $15,596,000 in City Funds, with changes to the project budget, payment dates, and completion and loan forgiveness dates.
- Residents and businesses in the 35th/Halsted Redevelopment Project Area: Tax increment money collected in their TIF area would be used to help pay for the Ramova Theater project.
- City Department of Planning and Development (DPD): The Commissioner or a designee would be allowed to negotiate and sign the second amendment and give approvals on the City's behalf.
What changes
- The amount of City Funds for the Ramova Theater project would increase to $15,596,000.
- The project budget would increase.
- Dates for when the City pays the Developer would be adjusted.
- Project completion and loan forgiveness dates would be adjusted.
- The DPD Commissioner could sign a second amendment to the redevelopment agreement.
Money
- Up to $15,596,000 in City Funds, paid from Incremental Taxes in the TIF Fund's General Account, to the Developer to cover part of the eligible project costs.
Where: Ramova Theater; 3518 S Halsted St; 35th/Halsted Redevelopment Project Area
When: Immediately upon passage and approval
Timeline
- Sep 18, 2024: Referred, City Council. The matter was Referred to Committee.
- Sep 27, 2024: Substituted, Committee on Finance. The matter was substituted in committee.
- Oct 2, 2024: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body.
- Oct 9, 2024: Passed, City Council (48 yea, 0 nay), at the City Council meeting. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.
- Oct 15, 2024: Signed by Mayor, City Council. The matter was Signed by the Mayor.
Documents
- SO2024-0012446 Committee Letter.pdf (Committee Letter)
- SO2024-0012446 - Developer Note A.pdf (Exhibits)
- SO2024-0012446 Signed by Mayor.pdf (Legislation)
- O2024-0012446 SIGNED BY MAYOR_0595.pdf (Legislation)
- O2024-0012446 Transmittal Letter.pdf (Miscellaneous)
- SO2024-0012446.pdf (Legislation)
- SO2024-0012446 EDS.pdf (EDS)
- O2024-0012446 Original Exhibit A.pdf (Miscellaneous)
- O2024-0012446 Original Ordinance.pdf (Miscellaneous)
- SO2024-0012446 - Developer Note B.pdf (Exhibits)
- SO2024-0012446 Exhibit A - Redevelopment Agreement.pdf (Exhibits)
Lobbying and money
Computed links; money near a vote is not evidence that it influenced the vote.
Who lobbied on it
- Our Revival, LLC: APPROVAL OF AMENDMENT TO REDEVELOPMENT AGREEMENT (2 filings, Oct 1, 2024 to Dec 31, 2024; Andrew Scott; matched by client named)
- Our Revival, LLC: APPROVAL OF A SECOND AMENDMENT TO REDEVELOPMENT AGREEMENT FOR RAMOVA THEATER (1 filing, Jul 1, 2024 to Sep 30, 2024; Andrew Scott; matched by client named)
- Our Revival, LLC: APPROVAL OF A SECOND AMENDMENT TO REDEVELOPMENT AGREEMENT FOR THE RAMOVA THEATER (1 filing, Jul 1, 2024 to Sep 30, 2024; Andrew Scott; matched by client named)
Campaign donors named in it: Our Revival Chicago Operating Company ($1,500 to alderpersons since 2019)
Money from these interests in the 365 days before the vote
| Member | Vote | Amount | From |
|---|---|---|---|
| Nicole T. Lee | Yea | $1,500 | Our Revival Chicago Operating Company (company) |
Related legislation
More from Johnson, Brandon
- Executive Order No. 2026-7 (Senior Bill of Rights and Establishing the Mayor's Office on Aging) (F2026-0029547, introduced Dec 8, 2026, Placed on File)
- Issuance of general obligation bonds (2027-2028 General Obligation Borrowing Ordinance) (O2026-0029650, introduced Oct 21, 2026, Referred)
- Fiscal Year 2027 Budget Recommendations (O2026-0029642, introduced Oct 21, 2026, Referred)
More on Agreements
- Redevelopment agreement with Oak-Larrabee LLC to provide tax increment financing (TIF) assistance for development of property at 955 N… (O2026-0029418, introduced Oct 14, 2026, Referred)
- First amendment to redevelopment agreement with 1539 N. Pulaski Road HHDC LP, 1539 N. Pulaski Road Charitable Corporation and Hispanic… (O2026-0029408, introduced Oct 14, 2026, Referred)
- Redevelopment agreement with North Lawndale Catalyst Initiative NFP to provide tax increment financing (TIF) assistance for development of… (O2026-0028748, introduced Sep 23, 2026, Passed)
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