R2024-343 Resolution Authorizing an Amendment to the Redevelopment Agreement between the City of Decatur and Tillamook Illinois, LLC

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Docusign Envelope ID:FECAOD51-A487-4078-961 E-OD56727B95DC AMENDMENT THIS AMENDMENT("Amendment")is made and entered into as of the date of November 2024, by and between the City of Decatur, Illinois, an Illinois municipal corporation("City") and Tillamook Illinois, LLC, an Oregon limited liability company with primary location in Tillamook, Oregon,U.S.A. (hereinafter referred to as the "Developer"). WITNESSETH: WHEREAS, City and Developer entered into a Development Agreement("Agreement") on March 29, 2023, relating to a Development Project in the City("Project"); and, WHEREAS, the Agreement provided certain incentives for Developer by the City based on certain performances by Developer; and, WHEREAS,the Developer has begun development pursuant to the terms of the Agreement but seeks to amend the Agreement; and, WHEREAS, the City believes the amendments to the Agreement are reasonable and necessary for the Project; and, WHEREAS,the City and Developer desire to set forth the terms and conditions related to amendments to the Agreement as more particularly described herein; and, WHEREAS, City and Developer 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. A portion of the preambles is hereby amended to provide, the cost of the Project is estimated to be no less than$66,000,000.00 revised from the previous commitment of$50,000,000.00 2. Certain portions of ARTICLE IV are hereby amended to provide, 4.4 Public Infrastructure