R2013-87 AUTHORIZING EXECUTION OF A REDEVLOPMENT AGREEMENT Southside

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THIS CITY OF DECATUR/BW OF DECATUR, LLC REDEVELOPMENT AGREEMENT (the "Agreement") is entered into as of the — day of , 2013 (the 'Effective Date"), by and between the City of Decatur, Illinois, a municipal corporation, (hereinafter referred to as the "City") and BW of Decatur, LLC, an Illinois Limited Liability Company, of Decatur, Illinois (hereinafter referred to as the "Redeveloper"). RECITALS WHEREAS, the City has adopted a program for the redevelopment of a redevelopment area known as the City of Decatur Southside Redevelopment Project Area(the"Redevelopment Project Area") in the City,pursuant to 65 ILCS 5/11-74.4-1,et seq. of the Illinois Compiled Statutes,the "Tax Increment Allocation Redevelopment Act"(hereinafter referred to as the "Act"); WHEREAS, the City is, pursuant to the provisions of the Act, has adopted a plan known as the City of Decatur Southside Tax Increment Redevelopment Plan and Project dated April 11, 2013 (hereinafter referred to as the "Redevelopment Plan") pertaining to the redevelopment of the Redevelopment Project Area, a copy of which is available for inspection in the office of the City Clerk of the City; WHEREAS, the City pursuant to the Act has adopted Tax Increment Financing for the Redevelopment Project Area WHEREAS, the City, in order to achieve the objectives of the Redevelopment Planand to provide for operational space for its Police Department, intends to lease an approximate forty six thousand three hundred (46,300) square foot net useable office facility (the "Police Facility") after the Redeveloper has made substantial renovations within property described on Exhibit 1 attached hereto and made part hereof, WHEREAS, the City, in order to achieve the objectives of the Redevelopment Plan and to provide for adequate public safety for the general public, intends to assist the Redeveloper in the renovation of the Police Facility and to possibly provide for additional incentives for additional development and redevelopment within the Redevelopment Project Area; WHEREAS, in order to arrest and prevent the blighting conditions within the Redevelopment Project Area,to enhance the quality of life in the City,to provide an economic stimulus to the area of the City within which the Police Facility is located in order to attract other private development which will enhance the tax base of the City and to further the objectives of the Redevelopment Plan, the City, pursuant to its Home Rule Powers under Article 7 of the Constitution of the State of Illinois, the powers granted to the City pursuant to the Act, and the powers granted to the City pursuant to the Illinois Municipal Code, 65 ILCS 5/11-65-1 et. seq. and 65 ILCS 5/11-71-1 et. seq., as supplemented by the power and authority of the City as a Home Rule Municipality, intends to assist the Redeveloper to help alleviate certain costs of the Redeveloper in the development of the Police Facility; WHEREAS, without the assistance of the City as set forth in this Agreement, the Redeveloper would not undertake the renovation of the Police Facility; WHEREAS, the Cost of the Police Facility to be incurred by the Redeveloper is estimated to be approximately Five Million Seven Hundred Sixty Thousand($5,760,000)Dollars; 1