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R2020-182 Resolution Authorizing the Final Agreement Between the City of Decatur, Illinois and Airport Plaza Joint Venture, LLC-Payment of Reimbursable Costs
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R2020-182 Resolution Authorizing the Final Agreement Between the City of Decatur, Illinois and Airport Plaza Joint Venture, LLC-Payment of Reimbursable Costs
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3/11/2021 12:46:45 PM
Creation date
12/22/2020 4:29:34 PM
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Resolution/Ordinance
Res Ord Num
R2020-182
Res Ord Title
R2020-182 Resolution Authorizing the Final Agreement Between the City of Decatur, Illinois and Airport Plaza Joint Venture, LLC-Payment of Reimbursable Costs
Department
City Manager
Approved Date
12/21/2020
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£ Mann Professional Engineering costs of $650.00 related to professional <br /> services, lot sales, and flood plain work. <br /> g. Architectural Expressions for architecture fees of $1,683.00 related to lot <br /> development. <br /> h Legal Professional Fees of Jacob & Klein, Ltd for services related to Southeast <br /> Plaza Tax Increment Financing as follows: <br /> i. $38,487.84 for year 2019. <br /> ii. Not to exceed$40,000.00 for services in year 2020. <br /> i. Installation of Public Sidewalks/Public Infrastructure performed by Isaacson <br /> Concrete & GRS Contractors in the sum of$56,883.00. <br /> j. Site Clearing performed by Walker's and GRS General Contractors on the <br /> Eastern Border of the Redevelopment Area in a sum not to exceed$25,000.00. <br /> k Professional Service Fees provided by NGP Services for the year 2020 in a sum <br /> not to exceed$8,000.00. <br /> L The costs related to Landscaping to residential lots that had a building permit as of <br /> 09/01/2020,with the total not to exceed $30,000.00. <br /> 2. The City and the Developer agree that the City has no obligation to reimburse the <br /> Developer pursuant to the RDA or this Final Agreement for costs incurred by the <br /> Developer other than that which is set forth in this Article IV. The City has no <br /> obligation to pay for any costs set forth in this Article IV which exceed the funds <br /> available pursuant to Article V below. The City shall have no obligation to reimburse <br /> the Developer for any costs or expenses incurred in the calendar year 2021 or beyond. <br /> V. RECEIPT OF REIMBURSEMENT.The Developer and the City agree that reimbursements <br /> set forth in Section IV above will not exceed the sum total of the following amounts received by <br /> the City less the expenses not to exceed the sum of$6,250.00 incurred by the City in administering <br /> the Southeast Plaza Redevelopment Plan, the Redevelopment Area and the Tax Increment <br /> Financing related thereto and that the City shall have no obligation to pay any of the costs set forth <br /> in Paragraph IV above which exceed the net amounts received: <br /> 1. The real estate tax increment generated pursuant to the Act for the year 2019 but not <br /> received by City until 2020. <br /> 2. The real estate tax increment generated pursuant to the Act for the year 2020 but not <br /> received by City until 2021. <br /> 3 <br />
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