Illinois Medical District Commission met July 20.
Here are the minutes provided by the commission:
Commissioners present: Michael Eaddy, Judy Frydland, Nicolas Guzman, Stephen Hackney, Peter O’Brien, Everett Rand
Others present: Kate Schellinger, Chris Fahey, Ryan Gage, Gina Oka, Tom Strachan, Jeanne Cotini, Judy Salgado, Nicole Vahl, Gabriel Magana, Angel Castillo, Sarah Lyons, Tyler Holland, Donna Rolf, Amy Kurson, Mike Nardini, Craig Jeffrey
Approval of Minutes
President O’Brien called the meeting to order, and Ms. Oka took the roll call of Commissioners. Commissioner Eaddy moved and Commissioner Rand seconded that the minutes from May 18, 2021 meeting be approved. The motion carried by roll call vote.
Public Comment
Angel Castillo, representative of UNITE HERE Local 1, made a public comment regarding the new hotel development at the Gateway project.
Executive Director Report
Ms. Schellinger provided the following report:
Bisnow Life Sciences – Ms. Schellinger participated in a Bisnow digital summit titled “Chicago Life Sciences Update.” Ms. Schellinger spoke on a panel with representatives from Northwestern University, the University of Chicago, and World Business Chicago about life sciences innovations and partnerships. Ms. Schellinger noted that these events help the commercial real estate community maintain awareness of the IMD both locally and nationally.
Planned Development 30 Stakeholder Meeting - IMD continues to work closely with the City’s Department of Planning and Development and IMD stakeholders to complete the PD30 amendment.
Youth Ambassador Program - IMD’s Health & Science Program Manager, Nicole Vahl, created a brand-new Youth Ambassador Program with UIC that will train high schoolers to promote and share information with their families and communities about COVID and the
COVID vaccine. UIC will be launching it with their Summer Youth Program this summer.
Leasing Updates – The State of Illinois DCFS lease at 2240 W Ogden was renewed. Also at 2240 W Ogden, the buildout for Midwest Brain has been completed and they are moving in this month. The tenant build-out project on the 2nd floor at 2100 W. Harrison for the VA is almost complete.
Financial Report
Mr. Strachan provided a financial report and noted the following:
• Cash is lower than prior year
• Accounts receivable is higher
• Notes receivable, current and long-term are mostly offset by liabilities
• Revenue is lower than prior year
Mr. Strachan addressed the Commission’s questions.
Old Business
There was no old business to discuss.
Executive Session
Upon motion by Commissioner Eaddy, seconded by Commissioner Rand, and carried by roll call vote, the Commission went into executive session pursuant to 5 ILCS 120/2 (c)(1), (6), and (11).
Open Session (Resumed)
The Commission returned to open session.
New Business
President O’Brien noted that the following resolutions required a vote:
General Capital – Voting was deferred to a future meeting.
IMD Micro Units – Ms. Oka summarized the resolution approving the ground lease amendment. Commissioner Eaddy moved that the resolution be approved, Commissioner Guzman seconded, and the resolution was approved by roll call vote.
President O’Brien stated the remainder of the 2021 commission meeting schedule.
Commissioner Hackney moved and Commissioner Rand seconded that the meeting be adjourned. The motion carried by roll call vote.
https://medicaldistrict.org/wp-content/uploads/2021/09/open-session-minutes-july-20-2021-nv-js-gjo.pdf
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