R2026-17 Resolution Approving a Development Agreement by and between the City of Decatur, Illinois and Broadwing Energy, LLC

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EXHIBIT Docusign Envelope ID:6745F9B5-2832-47E9-B6E5-4177813A8685 DEVELOPMENT AGREEMENT <` by and between THE CITY OF DECATUR,ILLINOIS and BROADWING ENERGY,LLC THIS DEVELOPMENT AGREEMENT("Agreement") is entered into this ) day of kb r Luer 2026,by and between the City of Decatur,Illinois, an Illinois municipal corporatiMi("City"),and Broadwing Energy,LLC,a Delaware limited liability company("Developer"). PREAMBLES WHEREAS, the City is a duly organized and validly existing home-rule municipality pursuant to Article VII, Section 6(a)of the 1970 Constitution of the State of Illinois and as such, may exercise any power and perform any function pertaining to its government and affairs;and, WHEREAS, the Mayor and City Council of the City("Corporate Authorities")have acknowledged that one of the primary goals of local government is to promote the health, safety and welfare of its citizens by encouraging private investment in industry, business, and housing in order to enhance the City's tax base,ameliorate blight and provide job opportunities for its residents; and, WHEREAS, the Corporate Authorities have also acknowledged that in order to accomplish its goal to promote the health, safety and welfare of its citizens,there is often a need for economic assistance to address some of the extraordinary measures required to accomplish private investment in industry,business and housing; and, WHEREAS,the Developer is looking to acquire property at 2903 N.Brush College Road(PIN: 04-13-06-200-003)as further described on Exhibit A("Property")to develop a new, gas-fired, low-carbon power generation project in Decatur, Illinois("Project");and, WHEREAS, in order to induce the Developer to proceed with the needed improvements to the Property, the City is prepared to make commitments to the Developer, and, upon satisfaction of commitments made by the Developer, to share in the expense of certain costs incurred in connection with required improvements to the Property. NOW,THEREFORE,the parties hereto,for good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,agree as follows: Section 1.Incorporation of Recitals.