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

Home Browse Search

Docusign Envelope ID: FECAOD51-A487-4078-961 E-OD56727B95DC connection with any required re-zoning or variances to permit the improvement,renovation and operation of the Project, and will provide timely review and comment of permit applications for the Project. 3.3 Additional Parcels. It is contemplated by the City and the Developer that the Developer will attempt to acquire additional parcels adjacent to the Development Area(the "Additional Parcels"). The City will use commercially reasonable efforts to(i)assist in Developer's efforts to obtain the Additional Parcels, including, without limitation, facilitating communications between Developer and the owners of such Additional Parcels, and (ii) beautify other parcels adjacent to the Development Area to enhance the aesthetic quality of the Project and the Development Area. If Developer acquires title to any Additional Parcels,such Additional Parcels will be considered part of the Development Area for all purposes under this Agreement. City may,but will not be required,to expend additional funds in furtherance of its efforts under this Section 3.3. ARTICLE IV:PUBLIC INVESTMENT I i 4.1 Public Investment. The City will provide assistance for the demolition of the structure(s)located at 805 N. Morgan St.,Decatur,IL(the"Structure")through reimbursement to Developer for the reasonable and actual incurred cost of demolition of the Structure or,in the alternative, the actual demolition of the Structure by the City. The obligation of the City for this public investment shall terminate and cease to be an obligation of the City if Developer has not demolished the Structure and requested reimbursement from the City within twenty-four(24)months of the date of this Agreement or,in the alternative,has not, within twenty-four(24)months of the date of this Agreement,requested the City to demolish the structure. 4.2 Reimbursement Conditions. The obligation for the reimbursement to Developer for expenses described in Section 4.1 above as part of the Project shall not be incurred until the final inspection and approval of the demolition by the City. Following final inspection and approval of the demolition by the City and upon proof of payment of the demolition costs by Developer,City shall reimburse Developer within sixty(60)days of request by Developer to City for such reimbursement. 4.3 Demolition by City. In the alternative to reimbursement of demolition costs incurred by Developer as set forth in Section 4.2 above, upon substantial completion of the Project by Developer and upon written request to the City, the City shall cause the demolition of the structure(s) located at 805 N. Morgan.