Illinois Medical District Commission met Nov. 16.
Here are the minutes provided by the commission:
Commissioners present: John Cooke, Jr., Judy Frydland, Stephen Hackney, Michael Eaddy, Nicolas Guzman, Ann Kalayil, Peter O’Brien
Others present: Kate Schellinger, Chris Fahey, Ryan Gage, Gina Oka, Tom Strachan, Jeanne Cotini, Judy Salgado, Nicole Vahl, Gabriel Magana, Mike Nardini (CBRE), Cary Barnette (Tate & Associates)
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 Guzman seconded that the minutes from September 21, 2021, October 13, 2021, and November 1, 2021 meetings be approved. The motion carried by roll call vote.
Introduction and Swearing-In of New Commissioner
Former Commissioner John Cooke introduced newly appointed Commissioner Ann Kalayil. Swearing in was conducted by Ms. Oka
Recognition of Service
President O’Brien thanked Commissioner Cooke for his hard work with the Commission. Ms. Oka read the resolution recognizing Commissioner Cooke and his outstanding service to the Commission.
Executive Director Report
Ms. Schellinger provided the following report:
Commissioners – Welcomed six new commissioners this year. Thanked President O’Brien for his leadership.
Urban Land Institute Placemaking & Urban Revitalization – On October 13, 2021, had an opportunity to speak during their 2021 fall meeting. The multi-disciplinary group of real estate industry leaders included developers, investors, architects, planners, brokers, and academics. The group was provided an overview of current and planned development within the district and a self-guided walking tour.
PD30 – On October14th, the Chicago City Council approved the revisions to Planned Development 30. Thanked Mr. Fahey, Ms. Oka, Amy Kurson, Alderman Burnett, and Alderman Ervin for all their efforts in seeing it through to this final approval. The changes will position the IMD to continue to grow as a healthcare innovation hub and will support future developments.
Leasing – Of all the leasable building square footage owned by the IMD, 84% is currently leased and occupied. New leases signed this year include the VA Vaccination Clinic that opened at 2215 W. Harrison, Healthcare Plus at 2225 W. Harrison, Midwest Brain Injury Clubhouse at 2240 W Ogden, Dispatch Health at 2255 W. Harrison and a 3-year parking lease with Chicago Lighthouse. We also signed extensions to the Chicago Veterans and the DCFS leases at 2240 W. Ogden. VA Telehealth moved into newly renovated space at 2100 W. Harrison under a new 10-year lease.
Financial Report
Mr. Strachan provided a financial report and noted the following:
• Cash is reduced
• Receivables are low
• Revenue is higher
• Broker commission is larger
• Professional fees are larger
Mr. Strachan addressed the commissioners’ questions.
Old Business
MetroEdge Ground Lease - Ms. Oka summarized the resolution approving the revised ground lease terms. Ms. Oka and Mr. Fahey answered the commissioners’ questions. Commissioner Eaddy moved that the resolution be approved, Commissioner Hackney seconded, and the resolution was approved by roll call vote.
New Business
Master Plan Update – Ms. Oka summarized the resolution approving the master plan update. Commissioner Eaddy moved that the resolution be approved, Commissioner Guzman seconded, and the resolution was approved by roll call vote.
Mortgage Refinance – Ms. Oka summarized the resolution approving the mortgage refinance. Commissioner Hackney moved that the resolution be approved, Commissioner Eaddy seconded, and the resolution was approved by roll call vote.
Executive Directory Signature Authority – Ms. Oka summarized the resolution approving the executive director signature authority. Commissioner Frydland moved that the resolution be approved, Commissioner Hackney seconded, and the resolution was approved by roll call vote.
Approval of Executive Director & Reaffirmation of CFO as Authorized Officers/Signers on Commission Bank Accounts – Ms. Oka summarized the resolution approving the incoming Executive Director and reaffirming the CFO as authorized signers and designated signatories on all Commission bank accounts. Commissioner Frydland moved that the resolution be approved, Commissioner Hackney seconded, and the resolution was approved by roll call vote.
Election of Officers – Ms. Oka summarized the resolution approving the election of officers. Commissioner Eaddy moved that the resolution be approved, Commissioner Hackney seconded, and the resolution was approved by roll call vote.
President O’Brien stated the 2022 commission meeting schedule. The start time for all 2022 Commission meetings was set at 12:00 pm.
Commissioner Hackney moved and Commissioner Frydland seconded that the meeting be adjourned. The motion carried by roll call vote.
https://medicaldistrict.org/wp-content/uploads/2022/01/open-session-minutes-november-16-2021.pdf
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