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-A487-4078-961E-OD56727B95DC THIS CITY OF DECATURITILLAMOOK ILLINOIS, LLC DEVELOPMENT AGREEMENT (the "Agreement") is entered into as of the '' '""da of rG L._ y r, 2023, by and between the City of Decatur, Illinois,an Illinois home rule municipal corporation,(hereinafter referred to as the"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"). 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 the Development Area (as defined herein) 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, the Developer wishes to substantially develop and improve a portion of property Developer owns located in the Development Area for the Project(as defined herein)for use of the same as an ice cream production and regional distribution facility, 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 serving to further and maintain the development of adjacent areas, and the City is willing to enter into a redevelopment agreement with the Developer to assure that said development and improvements occur;and, WHEREAS, there exists certain property located in the Development Area and owned by Developer that is currently undeveloped and has been for a period in excess of one(1)year;and, WHEREAS, the Developer has requested that the City provide an incentive to Developer by assisting in the demolition of a structure(s) in the Development Area, located at 805 N. Morgan, Decatur. Illinois owned by Developer and necessary for the Project;and, WHEREAS,without the incentive and assistance of the City as set forth in this Agreement, the Developer would not undertake the Project and the Project would not be possible;and,