2017

RESOLUTION NO. R-1-2017

A RESOLUTION APPROVING A DEVELOPMENT AGREEMENT (511-515 LINCOLN AVENUE; 714-740 ELM STREET; AND A PORTION OF LINCOLN AVENUE RIGHT-OF-WAY)

(One Winnetka)

WHEREAS, Article VII, Section 10 of the 1970 Illinois Constitution authorizes the Village of Winnetka ( “Village” ) to contract with individuals, associations, and corporations in any manner not prohibited by law or ordinance; and

WHEREAS, Winnetka Station, LLC (" Winnetka Station "), an Illinois limited liability company, was the record owner of properties commonly known as 511-515 Lincoln Avenue and 714-732 Elm Street, Winnetka, Illinois (“ Winnetka Station Properties ”); and

WHEREAS, SB One Winnetka, LLC (“ SB One ”), a Delaware limited liability company, has acquired from Winnetka Station and become the record owner of the Winnetka Station Properties; and

WHEREAS, SB Winnetka, LLC (“ SB Winnetka ”), a Delaware limited liability company, is the record owner of the property commonly known as 740 Elm Street and the contract purchaser of the property commonly known as 736 Elm Street, both in Winnetka, Illinois (“ SB Winnetka Properties ”) (the Winnetka Station Properties and the SB Winnetka Properties are, collectively, “Developer’s Property” ); and

WHEREAS, the Developer’s Property is generally located on the southeast corner of Elm Street and Lincoln Avenue in Winnetka and in the C-2 General Retail Commercial and C-2 Overlay Districts under the Winnetka Zoning Ordinance, Title 17 of the Winnetka Village Code (“ Zoning Ordinance ”); and

WHEREAS, SB One and SB Winnetka (collectively, “ Developer ”) have entered into one or more agreements providing for the redevelopment of the Developer’s Property, generally including (i) the demolition of the existing buildings on the Developer’s Property; (ii) the construction and development of three new mixed-use buildings for retail and residential uses; (iii) related on-site and off-site parking improvements, including improvements to the east parking lot and the construction and improvement of new public surface and one underground level parking in and along the Lincoln Avenue right of way; and (iv) related on-site and off-site streetscape and landscape improvements (“ Proposed Development ”); and

WHEREAS, the Developer’s Property is required to be developed as a planned development in accordance with Chapter 17.58 of the Zoning Ordinance ( “Planned Development Regulations” ); and

WHEREAS, on February 20, 2015, Stonestreet Partners, LLC, an Illinois limited liability company (“ Stonestreet ”) filed an application with the Village for approval of a planned development for the redevelopment of the Developer’s Property pursuant to the Planned Development Regulations ( “Application” ); and

WHEREAS, Stonestreet has assigned or otherwise transferred all right, title, and interest to the Application and the Proposed Development to the Developer; and

WHEREAS, in response to public comments and the deliberations, findings and recommendations of the Village’s Plan Commission, Zoning Board of Appeals, and Design Review Board, as well as from the Village Council, the Developer revised the Application and the Proposed Development ( “Preliminary Development Plan” ); and

WHEREAS, on January 17, 2017, the Village Council adopted Ordinance No. M-1-2017, granting the Developer preliminary planned development approval of the Preliminary Development Plan (“Preliminary Approval”); and

WHEREAS, as a condition to the Preliminary Approval, the Developer must enter into a development agreement with the Village in substantially the form attached to, and by this reference made a part of, this Resolution as Exhibit A ( "Development Agreement" ), which Development Agreement will govern the use and redevelopment of the Developer’s Property; and

WHEREAS, the Village Council has determined that it is in the best interests of the Village and its residents to enter into the Development Agreement with the Developer;

NOW, THEREFORE, BE IT RESOLVED, by the Council of the Village of Winnetka, Cook County, Illinois, as follows:

SECTION 1:   RECITALS. The Village Council hereby adopts the foregoing recitals as its findings, as if fully set forth herein.

SECTION 2:   APPROVAL OF AGREEMENT. The Village Council approves the Development Agreement in substantially the form attached to this Resolution as Exhibit A and in a final form approved by the Village Attorney.

SECTION 3:   AUTHORIZATION TO EXECUTE AGREEMENT. The Village Council authorizes and directs the Village President and the Village Clerk to execute and attest, respectively, on behalf of the Village, the final Development Agreement after receipt by the Village Manager of two executed copies of the final Development Agreement from the Developer; provided, however, that if the Village Manager does not receive two executed copies of the final Development Agreement from the Developer within 30 days after the date of adoption of this Resolution, then this authority to execute and seal the final Development Agreement will, at the option of the Village Council, be null and void.

SECTION 4:     EFFECTIVE DATE. This Resolution shall be in full force and effect from and after its passage and approval according to law.

ADOPTED this 17 th day of January, 2017, pursuant to the following roll call vote:

   AYES:      Trustees Cripe, Krucks, Lanphier, Myers, Rintz and Ziv         

   NAYS:   None                              

   ABSENT:   None                              

                     Signed

                     s/E. Gene Greable            

                     Village President

Countersigned:

s/Robert M. Bahan            

Village Clerk

EXHIBIT A

DEVELOPMENT AGREEMENT