R2010-117 AUTHORIZING AGREEMENT SOUTH WATER STREET, LLC

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, , ' � � CITY OF DECATUR/MILLIKIN BUILDING ADA ACCESI E RAMP AGREEMENT THIS AGREEMENT, made this_day of� , 2010, between the City of Decatur, Illinois, a Municipal Corporation (hereinafter referred to as "C�"), and SOUTH WATER STREET, LLC. ("Developer"), an Illinois limited liability company licensed to conduct business in the State of Illinois., WITNESSETH: WHEREAS, the Developer has requested incentives be provided to install an ADA Accessible Ramp to the East side of the Millikin Building, located at the corner of Main and Water Street, because of its new tenant, Sikich, LLP, that has some clients that need access to a Ramp; and WHEREAS, by leasing space in the Millikin Building, Sikick LLP will retain 35 full time jobs in Downtown Decatur; and WHEREAS, the City wishes to use Olde Towne TIF Fund to reimburse the Developer for the installation of an ADA Accessible Ramp on the East side of the Millikin Building; and WHEREAS, the City has determined that this project is a good use of TIF Funds because it will promote the health, safety and welfare of the City and its citizens, retain 35 full time jobs and fill vacant space in Downtown Decatur: NOW THEREFORE in consideration of the mutual covenants contained herein, the parties agree as follows: 1. The City agrees to reimburse the Developer up to $13,000 from the Olde Towne TIF Fund for the installation of an ADA Accessible Ramp on the East side of the Millikin Building. 2. The Developer agrees to provide the City with proper documentation that the work has been completed and paid for prior to being reimbursed. 3. The Developer agrees that in the construction of the Ramp prevailing wages shall be paid as determined pursuant to the Prevailing Wage Act of the State of Illinois, 820 ILCS 130 et seq and the Prevailing Wage Ordinance of the City subject to the requirements listed in Exhibit A.: 4. The Developer agrees to procure and deliver to the City, at the developer's cost and expense, and shall maintain in full force and effect until each and every obligation of developer contained herein has been fully paid, or performed, a policy or policies of comprehensive liability insurance and during any period of construction, contractor's liability insurance, structural work act insurance and workmen's compensation insurance, with liability coverage under the comprehensive liability insurance to be not less than One Million ($1,000,000) Dollars each occurrence and Five Million ($5,000,000) Dollars total, all such policies to be in such form and issued by such companies as shall be reasonably acceptable to the City to protect City and Developer against any liability incidental to the use of or resulting from any accident occurring in or about the Project or the improvements or the construction and improvement thereof. Each such policy shall