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97-19 AUTHORIZING REDEVELOPMENT AGREEMENT Southeast Plaza
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97-19 AUTHORIZING REDEVELOPMENT AGREEMENT Southeast Plaza
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3/21/2016 10:32:39 AM
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3/21/2016 10:32:37 AM
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Resolution/Ordinance
Res Ord Num
97-19
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT - SOUTHEAST PLAZA
Approved Date
3/31/1997
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� . <br /> . , <br /> ', . <br /> �� � 'Redevelopment Project Area, and annually thereafter, copies of a11 paid real estate tax bills for the <br /> ' ' immediate preceding real estate tax year for the property in the Redevelopment Project Area. <br /> B. Illinois state sales tax returns evidencing the sales ta�c revenues payable <br /> from the operations of the Developer or projects developed by others within the <br /> Redevelopment Project Area on a monthly basis to enable the sales ta��calculations <br /> required herein to be determined. Further, developer agrees to provide annual <br /> verification of actual sales ta�c paid within the Redevelopment Project Area from the <br /> Illinois Deparhnent of Revenue. <br /> The failure of Developer to provide any informarion required herein after <br /> notice from the City, and the continued failure to provide such information within 30 <br /> days after such norice without reasonable cause shall be cause for the City to deny <br /> payments hereunder to the Developer, which payments are conditional upon receipt of the <br /> foregoing informarion. <br /> 3. LIMITED OBLIGATION <br /> The City's obligation hereunder to pay Developer for Eligible Project Costs is a <br /> limited obligarion to be paid solely from the Special Tax Allocarion Fund. In the event of <br /> any erroneous disbursement of funds from, or misappropriation of funds due to, the <br /> Special T�Allocation Fund, City shall restore said funds. <br /> Said obligation does not now and sha11 never constitute an indebtedness of the City <br /> within the meaning of any State of Illinois constiturional or statutory provision and shall <br /> not constitute or give rise to a pecuniary liability of the City or a charge or lien against <br /> the City's general credit or taxing power other than the Special Tax Allocation Fund. <br /> 4. LIMITED LIABILITY OF CITY TO OTHERS FOR DEVELOPER'S <br /> EXPENSES <br /> There sha11 be no obligation by the City to make any payments to any person other <br /> than Developer, nor sha11 the City be obligated to make direct payments to any other <br /> contractor, subcontractor, mechanic or material man providing services or materials to <br /> Developer for the Project. This Section shall not be a limitation on the amounts due to <br /> the Developer under this Agreement or a limitation of the Developer's right to direct <br /> payments to be made to others for the Developer's benefit under Article III. <br /> 12 <br />
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