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R89-30 AUTHORIZING AGREEMENT - WEST NORTH STREET FOUNDATION
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R89-30 AUTHORIZING AGREEMENT - WEST NORTH STREET FOUNDATION
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8/10/2016 9:28:29 AM
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8/10/2016 9:28:28 AM
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Resolution/Ordinance
Res Ord Num
R89-30
Res Ord Title
AUTHORIZING AGREEMENT - WEST NORTH STREET FOUNDATION
Approved Date
3/20/1989
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� � � r� � � <br /> . . ,� _ <br /> ,.,.s �, <br /> AGREEMENT <br /> This Agreement made this �� day of ���� , 1989 , <br /> by and between the City of Decatur, Illinois, a municipal <br /> corporation, (hereinafter "City") and West North Street <br /> Foundation, an Illinois not-for-profit corporation, (hereinafter <br /> "Foundation") . <br /> Whereas, the Foundation wishes to purchase the property <br /> commonly known as 880 West North Street, located within the City <br /> of Decatur, for the purpose of rehabilitating and renovating the <br /> exterior of said property and reconveying the same to single <br /> family owners thereby improving the quality of the neighborhood; <br /> and, <br /> Whereas, the Foundation will require approximately Twenty <br /> Thousand Dollars ($20,000) to accomplish said project; and, <br /> Whereas, the City is willing to grant Five Thousand Dollars <br /> ($5 ,000) to the Foundation for said purposes; and, <br /> Whereas, the City is further willing to loan an additional <br /> Five Thousand Dollars ($5,000) to the Foundation for said <br /> purposes. <br /> NOW, THEREFORE, for and in consideration of the mutual , <br /> promises and obligations made and assumed hereunder the City and I <br /> the Foundation agree as follows: <br /> 1 . That the City will grant Five Thousand Dollars ($5 , 000) <br /> to the Foundation. <br /> 2 . That the City will loan Five Thousand Dollars ($5 ,000) <br /> to the Foundation, said Five Thousand Dollars ($5,000) to be <br />
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