Coversheet

Item:	Resolution - Assignment and Assumption Agreement - 112 N. Belmont Avenue
Department:	Legal

BACKGROUND

The Village has received the attached Assignment and Assumption Agreement from Metro Chicago Youth for Christ (“MCYC”), the current tenant of the Village at 112 N. Belmont (the former Teen Center). MCYC is in the process of being acquired by South Pointe Youth for Christ (“SPYC”). Pursuant to the Lease between the Village and MCYC, MCYC cannot assign the Lease without the written consent of the Village. Accepting this Assignment does not have any impact on the Village’s rights under the Lease – it only changes the entity the Lease is with.

RECOMMENDATION

It is recommended that the Village Board adopt the attached Resolution.


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ATTACHMENTS:
Description	Type
112 N. Belmont Avenue - Assignment and Assumption Agreement	Resolution
112 N. Belmont Avenue	Agreement