R2007-15 AUTHORIZING AGREEMENT - Laserfiche WebLink

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AGREEMENT THIS AGREEMENT made by and between the CITY OF DECATUR, ILLINOIS ("CITY"), a municipal corporation, B-1 Logistics, Inc. ("B-1 LOGISTICS) and Jackson Family, LP, ("JACKSON FAMILY"). WHEREAS, JACKSON FAMILY owns and operates World of Power Sports located at 2635 North 22"d Street, in the City of Decatur, and JACKSON FAMILY also owns additional property in the City adjacent thereto, such additional property more particularly described as follows: SEE EXHIBIT A ATTACHED HERETO AND HEREBY MADE A PART HEREOF (the "PREMISES"); and, WHEREAS, JACKSON FAMILY intends to improve the PREMISES by the addition of a warehousing and distribution facility, to compliment the current retail facility; and, WHEREAS, the new facility will be leased to B-1 LOGISTICS that will operate a parts distribution center that is projected to create 27 new full-time jobs as well as retain 23 existing full-time jobs in the area; and, WHEREAS, B-1 LOGISTICS has been approved for EDGE funding by the Illinois Department of Commerce and Economic Opportunity (DCEO); and, WHEREAS, in order for said development to be feasible, it is necessary that storm and sanitary sewer mains therein, be built on the Premises; and, WHE�CtAS, the CITY will require certain site improvements to the Premises prior to said construction, which improvements are necessary for the public health, safety and welfare, and which improvements will be substantial, and the City is willing to assist JACKSON FAMILY in the construction of said site improvements; and, NOW, THEREFORE, for and in consideration of the provisions hereof, the CITY, B-1 LOGISTICS and JACKSON FAMILY agree as follows: 1. JACKSON FAMILY will prepare complete engineering plans and drawings for said storm and sanitary sewer mains, in full compliance with all CITY standards and specifications, and submit them to the CITY'S Department of Engineering a�d Infrastructure for approval prior to the start of any construction. 2. After the completion of the construction of the storm and sanitary sewer main, and after acceptance thereof by the Department of Engineering and Infrastructure, JACKSON FAMILY shall dedicate the sanitary sewer main constructed therein, including all utilities, to the CITY.