R2022-91 Resolution Authorizing Redevelopment Agreement wiht Bob Brady

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AGREEMENT This Agreement("Agreement") is made and entered into this 20th day of June, 2022, by and between Bob Brady ('Brady"), and the City of Decatur, Illinois, a municipal corporation ("City"). RECITALS WHEREAS, the City is a home rule unit of government,pursuant to Section 6 of Article VII of the Constitution of the State of Illinois, and as such has the authority to promote health, safety and welfare, including to prevent the spread of blight and deterioration and inadequate facilities by promoting the development of and private investment in industry, business and housing and enhancing the marketability of Premises and is authorized and empowered to enter into economic incentive agreements pertaining to its government and affairs, including the economic development of the City and the expansion of its tax base thereby reducing unemployment; and WHEREAS Brady will be purchasing a certain parcel of real property from South Side Country Club situated in Macon County, Illinois,which is more particularly described in Exhibit A attached hereto and made a part hereof ("Development Parcel"), which parcel consists of approximately 2 acres; and WHEREAS, Brady wishes to develop and improve the Development Parcel (the "Project); thereby contributing to the economic development of the City, increasing the tax base thereby reducing unemployment and creating or retaining job opportunities within the City and serve to further and maintain the development of adjacent areas, and the City is willing to enter into an economic incentive agreement with Brady to assure that said development and improvements occur; and WHEREAS, Brady has entered into a Purchase Agreement with South Side Country Club and others for the Development Parcel attached hereto as Exhibit B; and WHEREAS, The Development Parcel is not currently served by municipal water infrastructure; and WHEREAS, Brady desires to have access to public water, upon the terms and conditions provided herein; and WHEREAS, The City Council of the City, after due consideration, has concluded that this water main extension will serve the best interests of the City; and WHEREAS, After Brady owns or will own the Development Parcel which is contiguous to the City,the City agrees to pursue annexation of the Development Parcel pursuant to the annexation provisions of the Illinois Municipal Code. NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, and in reliance on the ordinances of the City in effect as of the date hereof, the parties hereto hereby agree as follows: 1 of 5