R2024-224 Resolution Authorizing an Amendment to the Central Illinois Land Bank Authority Agreement

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AMENDMENT THIS AMENDMENT("Amendment") is made and entered into as of the 6th day of May 2024,by and between the City of Decatur, Illinois, an Illinois municipal corporation ("City") and the Central Illinois Land Bank Authority("CILBA"). WITNESSETH: WHEREAS, City and CILBA entered into an Agreement for an Abandonment to Rehab program("Agreement") in 2022 relating to the payment of ARP funds to CILBA to administer a whole house rehab program of abandoned houses; and, WHEREAS,the Agreement provided for$500,000 of ARP funds to be used for this program; and, WHEREAS, City and CILBA desire and agree to amend the Agreement to provide an additional $250,000 in ARP funds for this program; and, WHEREAS, City and CILBA desire and agree that all other terms set forth in the Agreement shall remain in full force and effect. NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 1. Section 1 is hereby amended to provide, "The City agrees to provide to CILBA the sum of Seven Hundred Fifty Thousand Dollars($750,000.00) from its portion of the ARP funds pursuant to and under the terms of this Agreement." IN WITNESS WHEREOF,the parties hereto have caused this Amendment to be executed in their respective corporate names by their respective officers duly authorized having the day and year first above written. (Signature page follows)