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, . '.,,-��� <br /> 1. M��_on C�,�., Illir�o�s ':�.5. by M�ry A. �aion, Rer.��rder � �- <br /> ' �""�ii - Book: 3758 Page: 99 <br /> ���.846Q , Re�aiFri tt: 2'3LG Recurdiny Fea: #76.00 <br /> Payes Re�-ur�Jed- .`�� ��ta�_� <br /> Dat e Recorded: 11./20/2006 9:31:16 AM <br /> II II II II II II III I I I II II II il II II I I II I II <br /> / <br /> REYN�.�....� <br /> DEVELOPMENT LLC <br /> REDEVELOPMENT AGREEMENT <br /> This Redevelopment Agreement (this "Agreement") is entered into this 7th day of <br /> November, 2006, by and between the CITY OF DECATUR, an Illinois home rule municipal corporation <br /> « „ « „ <br /> s Develo men <br /> t LLC the Develo er . <br /> (the Municipality ), and Reynold p , ( P ) <br /> PREAMBLE <br /> WHEREAS, the Municipality has the authority to promote health, safety and welfare, <br /> including to prevent the spread of blight and deterioration and inadequate public facilities by promoting <br /> the development of and private investment in industry, business and housing and enhancing the <br /> marketability of Premises, thereby increasing the tax base of the Municipality and reducing <br /> unemployment; and <br /> WHEREAS, the Municipality has by a series of ordinances (as supplemented and <br /> amended, the "TIF Ordinances") undertaken a program and plan of redevelopment of a designated area <br /> in the Municipality by the adoption of Tax Increment Financing ("TIF") and the adoption, approval and <br /> designation of the "Olde Towne Redevelopment Plan of the City of Decatur, Illinois" (the <br /> "Redevelopment Plan"), Redevelopment Project Area (the "Area") and Redevelopment Project (the <br /> "Redevelopment Project"), all pursuant to the Tax Increment A1location Redevelopment Act, Illinois <br /> Compiled Statutes, Chapter 65, Section 5/11-74.4-1 et sey. (as supplemented and amended, the "Act"); <br /> and <br /> WHEREAS, pursuant to and in furtherance of the Redevelopment Plan, the Developer <br /> proposes to develop certain property within the Area (the "Development Area") as described in � <br /> EXHIBIT A attached hereto and by reference made a part hereof; and II <br /> WHEREAS, the Developer's proposed (i) public facilities ("Public Facilities") and/or , <br /> (ii) private development (as described generally on the conceptual drawing attached hereto as EXHIBIT 'i <br /> A1)("Private Development") project ((i) and (ii) collectively, the "Development Project") are �� <br /> consistent with the land uses and the Redevelopment Plan and is located in the Development Area, wllolly �� <br /> within the Area; and �, <br /> WHEREAS, the Developer has requested that incentives related to the Private � <br /> Development be provided by the Municipality from the resulting real estate tax revenues and municipal � <br /> sales tax revenues derived solely from the Development Project within the Development Area (the , <br /> � ,1 <br /> � J <br />