Laserfiche WebLink
1. STATUTORY AUTHORITY. The parties hereto enter into this Agreement pursuant <br /> to and in accordance with the applicable provisions of the Illinois Municipal Code (65 <br /> ILCS 5/11-15.1 et seq.) and the codes and ordinances of the City. <br /> 2. ANNEXATION. <br /> a) The City hereby agrees to annex the Development Parcel, once contiguous to <br /> the City,to the corporate limits of the City in accordance with the applicable <br /> provisions of the Illinois Municipal Code (65 ILCS 5/7-1-1 et seq.) and the <br /> terms and conditions hereof. <br /> 3. ZONING. The City agrees to zone the Development Parcel "PD Planned <br /> Development", in accordance with the provisions of the City's Zoning Ordinance <br /> (Ordinance No. 3512, as amended) currently in effect and in accordance with the Site <br /> Plan attached hereto as Exhibit D. <br /> 4. SUBDIVISION. The preliminary plat of subdivision of the Development Parcel, attached <br /> hereto as Exhibit A, is hereby approved as a preliminary plat thereof for all purposes of <br /> the City's Subdivision Ordinance. <br /> 5. DEVELOPMENT OF THE PROJECT <br /> a) Brady will utilize its best efforts to develop the Project in a manner that is <br /> compatible with this Agreement and Applicable Law. <br /> b) Brady agrees to construct two (2) single family homes, in accordance with the <br /> submitted Site Plan attached hereto as Exhibit D. <br /> 6. WATER SUPPLY AND SERVICE. <br /> a) The City shall reimburse Brady up to $75,000 for the costs Brady incurs to <br /> extend the City's Water Main up to the Development Parcel. The City's <br /> reimbursement shall not exceed 70% of the total costs Brady incurs extending <br /> the City's water main. <br /> i. Prior to requesting reimbursement, Brady agrees to provide the <br /> following: <br /> 1. Upon completion of the Water Main extension, Brady shall submit <br /> to the City a Final Cost Analysis of all costs connected with the <br /> extension. <br /> 2. Proof of release of lien waivers by all Contractors and <br /> Subcontractors for the Water Main extension. <br /> ii. The obligation for the reimbursement for expenses incurred by <br /> Brady for the Water Main extension as part of the Project shall be <br /> paid by the City to the Brady as follows: <br /> 1. Fifty percent(50%) of the total eligible reimbursement after the <br /> issuance of the first Final Certificate of Occupancy by the City of <br /> Decatur's Building Inspections Division for one of the Single- <br /> Family Homes as part of the Project. <br /> 2of5 <br />