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R2008-68 AUTHORIZING FUNDING AGREEMENT
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R2008-68 AUTHORIZING FUNDING AGREEMENT
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Last modified
10/22/2015 4:43:35 PM
Creation date
10/22/2015 4:43:30 PM
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Resolution/Ordinance
Res Ord Num
R2008-68
Res Ord Title
AUTHORIZING FUNDING AGREEMENT FOR THE ECONOMIC DEVELOPMENT AGREEMENT FY 2008 / 2009
Approved Date
5/19/2008
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t3ook : .3'_��t°� �'age : ��i� <br /> ECONOM/C DEVELOPMENT AGREEMENT <br /> This Agreement, made this 19th day of May, 2008, between Soy Capital <br /> Bank and Trust Co. (hereinafter referred to as "Owner"), and the City of Decatur, <br /> Illinois a municipal corporation (hereinafter referred to as "City"), <br /> WITNESSETH: <br /> Whereas, Owner represents that it is the record owner of the <br /> improved real estate located with the District or Project Area, commonly known <br /> as 1501 E. Eldorado, Decatur, Illinois, and legally described as: <br /> ROLLING MILL 3RD ADD LTS 1-6 <br /> B 1 (EX E8 LT 1) & LTS 4-6 <br /> BLK 1 BROWNS ADDITION (EX ST ROW) IRREG <br /> PERMANENT INDEX NUMBER IS <br /> 04-12-14-233-001 <br /> (hereinafter referred to as the "property") and; <br /> Whereas, Owner and City desire to restore, maintain, and preserve the <br /> business situated on the property, and City desires to provide funds for approved <br /> exterior design, security, and facade restoration from funding available through <br /> the Community Development Block Grant (CDBG) program of the United States <br /> Department of Housing and Urban Development, and; <br /> Whereas, City agrees to provide funds for renovation work to the exterior <br /> design and facade of the building, subject to the financial limitations set forth <br /> herein and the CDBG Program guidelines established by HUD, and; <br /> Whereas, Owner agrees to renovate the exterior design, provide security <br /> and facade improvements of the building in accordance with the terms of this <br /> 1 <br />
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