R2010-227 AUTHORIZING AGREEMENT FOR THE FY 09-10 CDBG FACADE PROGRAM

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• ' ,.e 1 FACADE AGREEMEN This FA�ADE AGREEMENT, made thi� day o ��1�L�2010, between the City of Decatur, a municipal corporation, "City", and Nick G. Striglos, "Owner", pursuant to the Fa�ade Grant Program administered by the City for rehabilitation and restoration of a building located within the Downtown Historic District and/or within Olde Towne Redevelopment (TIF) Project Area,WITNESSETH: 1. The City has approved, or will approve a deferred forgivable loan, in favor of Owner in an amount no less than five thousand dollars ($5,000) and shall not exceed the amount of Sixty-Five Thousand Dollars ($65,000), upon the terms and conditions set forth in this Fa�ade Agreement. The proceeds of the loan shall be used by the Owner exclusively for the purpose of restoring, maintaining and preserving the exterior design and fa�ade of the improvement situated on the property located at 150 East William Street. The City shall expend loan proceeds exclusively for improvements of a certain parcel of real property located in Decatur, Macon County, Illinois, legally described as: Commencing at the Southwest corner of Lot Four (4) in Block Two (2) of Central Addition to the City of Decatur, as per Plat recorded in ' i of Macon Book N., Page 304 of the Records in the Recorder s Offce County, Illinois; thence North 111 �/z feet; thence East 80 feet; thence North 4 �/a feet; thence East 10 feet; thence North 38 1/z feet; thence East 62 feet to the East line of Lot Three 3 in Block Two 2 of � ) � ) Hostetler's part of Cowan and Hostetler's Addition to Decatur, as per Plat recorded in Book A, Page 201 of the Records in the Recorder's Office of Macon County, Illinois; thence South 154 1/z feet to the South line of said Lot Four (4) in Block Two (2) of Central Addition to Decatur; thence West 152 feet to the place of beginning. Situated in Macon County, Illinois, commonly known as: 150 East William Street, Decatur, Illinois. Parcel ID: 04-12-15-237-010 and 04-12-15-237-009 2. The City will provide funds to the owner for approved exterior design and fa�ade restoration from funding available through the Community Development Block Grant (CDBG) program of the United States Department of Housing and Urban Development (HUD). 3. The term "exterior design and facade" shall mean all outside architectural and construction features visible from any point on the street, including, but not limited to, structural and facing materials, signs, windows, doors, trims, sills, steps, railings, cornices, molding, paint colors and other decorative features. 4. The City agrees to provide funds for renovation work to the exterior design and fa�ade of the building, as described on the Statement of the Work attached hereto as Exhibit A and incorporated by reference, subject to the financial 1