R2013-87 AUTHORIZING EXECUTION OF A REDEVLOPMENT AGREEMENT Southside

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WHEREAS,The City has prepared a Criteria Document in conjunction with the development of the Police facility which integrates the design and operation of the Police Facility by the City of Decatur Police Department; and WHEREAS, the City believes it is necessary to redevelop the "Redevelopment Project Area" in order to arrest the economic and physical decline of the Redevelopment Project Area, and to promote a policy of stabilization not only in the Redevelopment Project Area,but also in the surrounding area of the City; and WHEREAS, the City believes that the development of the Police Facility and the possible development of other areas of the Redevelopment Project Area pursuant to the proposed Redevelopment Plan is in the vital and best interests of the City and the health, safety,morals and welfare of its residents, and in accordance with the public purposes and provisions of the applicable federal,state and local laws. NOW THEREFORE, in consideration of the promises and mutual covenants and obligations of the parties contained herein, and other good and valuable consideration, the receipt and sufficiency whereof are hereby acknowledged,the parties hereto, intending to be legally bound, hereby covenant and agree as follows: ARTICLE I:DEFINITIONS 1.1 Definition of Terms. Certain terms used in this Agreement including any exhibits, amendments or addenda thereto shall have the following meanings unless their content or use clearly indicates otherwise: "Act" means the Tax Increment Allocation Redevelopment Act, 65 ILCS 5111 74.4-1 et seq. as it may be amended from time to time. "Agreement" means this City of Decatur BW of Decatur, LLC Redevelopment Agreement, complete with all schedules and exhibits attached hereto, as it may be amended or supplemented from time to time. "Applicable Law" means all laws, statutes, acts, ordinances, rules, regulations, permits, licenses, authorizations, directives, orders and requirements of all Governmental Authorities,that now or hereafter during the term of this Agreement may be applicable to the City, the Redeveloper, and/or the Police Facility, the Redevelopment Project Area and the construction, maintenance, use and operation thereof, including those relating to design standards, employees, zoning, building, health, safety, Hazardous Materials, and accessibility of public facilities. "Closing" means the performance of those activities required by Section 4.5 of this Agreement with regard to the Commencement of the Police Facility Lease after Completion of the Police Facility. "Closing Date" means the date upon which the Police Facility is complete and the Police Facility Lease will commence pursuant to Article W below. "Completion of Construction" means complete construction, except for minor and ancillary alterations or additional work, so as to be available for the issuance of a certificate of occupancy pursuant to codes of the City. 2