This decision involves the second amendment to the Ramova Theater Redevelopment Agreement between the City of Chicago and Our Revival Chicago LLC, Our Revival Chicago Operating Company LLC, and Southside Revival NFP. The amendment adjusts the project budget, increases the amount of city funds to $15,596,000, modifies the completion dates, and updates the loan forgiveness terms. The City Council passed the final decision on October 9, 2024, following its introduction on September 18, 2024.
This amendment is crucial for the continuation of the Ramova Theater redevelopment project, addressing budgetary and timing challenges while ensuring the project's successful completion and its role in revitalizing the area.