Ordinance 2012-05 it l� PII1��� I
Ll I r
UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
ORDINANCE NO. 2012-05
AN ORDINANCE OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY ILLINOIS
APPROVING A GENERAL RELEASE AND TERMINATION AGREEMENT FOR THE
DEVELOPMENT AND REDEVELOPMENT AGREEMENTS FOR THE TUSCAN PLAZA
PROJECT AND REPEALING ORDINANCES 2006-55, 2007-40 AND 2007-61 THAT
APPROVED THOSE AGREEMENTS
Passed by the City Council of the
United City of Yorkville, Kendall County, Illinois
This 13"'day of March, 2012
Published in pamphlet form by the
authority of the Mayor and City Council
of the United City of Yorkville, Kendall
County, Illinois on April 18, 2012.
Ordinance No. 2012- OS
AN ORDINANCE OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY ILLINOIS
APPROVING A GENERAL RELEASE AND TERMINATION AGREEMENT FOR THE
DEVELOPMENT AND REDEVELOPMENT AGREEMENTS FOR THE TUSCAN PLAZA
PROJECT AND REPEALING ORDINANCES 2006-55, 2007-40 and 2007-61 THAT
APPROVED THOSE AGREEMENTS
WHEREAS, the United City of Yorkville (the "City") is a duly organized and validly existing
non home-rule municipality created in accordance with the Constitution of the State of Illinois of 1970
and the laws of the State; and,
WHEREAS, in the City is a parcel of property legally described as:
Lots 1 and 9 in Block 1 in Black's Addition to the Village of Yorkville, in the United
City of the Village of Yorkville, Kendall County, Illinois and the north 'h of Lots 2
and 10 in Block 1 of Black's Addition to the Village of Yorkville, in the United City
of the Village of Yorkville, Kendall County, Illinois
Commonly known as 201, 203 and 205 Bridge Street, Yorkville, Illinois
PINs: 02-32-283-003 and 02-32-283-004, hereinafter described as the "Property" and,
WHEREAS, a Development Agreement entitled, "TUSCAN PLAZA DEVELOPMENT
AGREEMENT" was approved by the City for the Property by Ordinance No. 2006-55 adopted June 27,
2006 and recorded with the Kendall County Recorder as document number 200600022272 on July 24,
2006; and,
WHEREAS, the City entered into a redevelopment agreement for the Property entitled,
"REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN YORKVILLE REDEVELOPMENT
PROJECT AREA" dated May 11, 2007 which the City approved by Ordinance No. 2007-40, entitled
"ORDINANCE APPROVING A REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN
REDEVELOPMENT PROJECT AREA (TUSCAN PLAZA)" adopted May 8, 2007 and recorded with
the Kendall County Recorder as document number 200700015432 on May 11, 2007; and,
WHEREAS, the City further entered in into a first amendment to the redevelopment agreement
for the Property entitled, "FIRST AMENDMENT TO THE REDEVELOPMENT AGREEMENT FOR
THE DOWNTOWN YORKVILLE REDEVELOPMENT PROJECT AREA" DATED August 28, 2007
by Ordinance 2007-61, entitled "ORDINANCE APPROVING THE FIRST AMENDMENT TO THE
REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN REDEVELOPMENT PROJECT
AREA (TUSCAN PLAZA)" adopted August 28, 2007 and recorded with the Kendall County Recorder
as document number 200700027713 on September 13, 2007; and,
Ordinance No. 2012-OJT
Page 2
WHEREAS, the City and GRW Properties, LLC, an Illinois Limited Liability company, the
current owner of the Property, desire to enter into an agreement entitled, "GENERAL RELEASE AND
TERMINATION AGREEMENT FOR THE DEVELOPMENT AND REDEVELOPMENT
AGREEMENTS FOR THE TUSCAN PLAZA PROJECT" that is attached hereto and made a part
hereof as Exhibit A in order to remove the record of the above prior commitments for the Property in
order to allow the current owner to develop the Property without such encumbrances; and,
WHEREAS, the termination of the agreements will encourage the development of the Property.
NOW, THEREFORE, BE IT ORDAINED by the City Council of the United City of
Yorkville, Kendall County, Illinois, as follows:
Section 1. The recitations set forth in the Preambles hereto are material to this Ordinance and
are hereby incorporated into and made a part hereof as if fully set forth and said recitations constitute the
understanding of the City and the Owner.
Section 2. That the GENERAL RELEASE AND TERMINATION AGREEMENT FOR THE
DEVELOPMENT AND REDEVELOPMENT AGREEMENTS FOR THE TUSCAN PLAZA
PROJECT, attached hereto and made a part hereof by reference as Exhibit A, is hereby approved, and
the Mayor and City Clerk, be and are hereby authorized to execute said agreement on behalf of the
United City of Yorkville.
Section 3. That Ordinances numbered 2006-55, 2007-40 and 2007-61 that adopted the above
referenced agreements be and are hereby repealed.
Section 5. The City Clerk shall file this Ordinance with the Kendall County Recorder.
Section 6. This Ordinance shall be in full force and effect upon its passage, approval, and
publication as provided by law.
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this
13 day of M.4908 , A.D. 2012.
A�a
'MPUTY CITY CLERK
ROSE ANN SPEARS DIANE TEELING
GEORGE GILSON JR. JACKIE MILSCHEWSKI
CARLO COLOSIMO _�� MARTY MUNNS
CHRIS FUNKHOUSER LARRY KOT
Ordinance No. 2012-05
Page 3
Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this �(p
day of APR-IL- 2012.
1,1w i- j jwmi
MA OR
Prepared by: Return to:
James W. Binninger City Clerk
City Attorney United City of Yorkville
Kathleen Field Orr & Associates 800 Game Farm Road
53 West Jackson, Suite 935 Yorkville, Illinois 60560
Chicago, Illinois 60604
Ordinance No. 2012-06,
Page 4
EXHIBIT A
GENERAL RELEASE AND TERMINATION AGREEMENT FOR THE
DEVELOPMENT AND REDEVELOPMENT AGREEMENTS FOR THE
TUSCAN PLAZA PROJECT
This Termination Agreement (the "Agreement") effective this 13 day of March 2012 (the
"Effective Date") is by and between the United City of Yorkville, an Illinois municipal
corporation (the "City") and GRW Properties, LLC, an Illinois limited liability company
(the "Owner").
WHEREAS, the City entered into development agreements for the proposed Tuscan
Plaza development located in the City and legally described as follows:
Lots 1 and 9 in Block 1 in Black's Addition to the Village of Yorkville, in the United
City of the Village of Yorkville, Kendall County, Illinois and the north '/2 of Lots 2 and
10 in Block 1 in Black's Addition to the Village of Yorkville, in the United City of the
Village of Yorkville, Kendall County, Illinois, (the "Property")
Commonly known as 201, 203 and 205 Bridge Street, Yorkville, Illinois
PINS: 02-32-283-003 and 02-32-283-004; and,
WHEREAS, a Development Agreement entitled, "TUSCAN PLAZA DEVELOPMENT
AGREEMENT" for the Property was approved by the City by Ordinance No. 2006-55
adopted June 27, 2006 and recorded with the Kendall County Recorder as document
number 200600022272 on July 24, 2006; and,
WHEREAS, the City entered into a redevelopment agreement for the Property entitled,
"REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN YORKVILLE
REDEVELOPMENT PROJECT AREA" dated May 11, 2007 which the City approved
by Ordinance No.2007-40, entitled "ORDINANCE APPROVING A
REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN REDEVELOPMENT
PROJECT AREA (TUSCAN PLAZA)" Adopted May 8, 2007 and recorded with the
Kendall County Recorder as document number 200700015432 on May 11, 2007; and,
WHEREAS, the City further entered into a first amendment to the redevelopment
agreement for the Property entitled, "FIRST AMENDMENT TO THE
REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN YORKVILLE
REDEVELOPMENT PROJECT AREA" DATED August 28, 2007 by Ordinance 2007-
61, entitled "ORDINANCE APPROVING THE FIRST AMENDMENT TO THE
REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN REDEVELOPMENT
PROJECT AREA (TUSCAN PLAZA)" adopted August 28, 2007 and recorded with the
Kendall County Recorder as document number 200700027713 on September 13, 2007;
and,
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WHEREAS, those development agreements intended that TUSCAN PLAZA would be a
mixed use, three-story structure with retail on the first floor, 20 condominiums on the
second and third floors and 29 underground parking spaces; and,
WHEREAS, for various reasons including he worsening of the economy and therefore
the housing market, the prior owner/developers have been unable to construct TUSCAN
PLAZA as required by those development agreements; and,
WHEREAS, the Owner desires to develop the Property without the encumbrances of the
above described Development and Redevelopment Agreements; and,
WHEREAS, the City concurs with the Owner that the release of the encumbrances will
encourage new development of the Property.
Now, therefore, in consideration of the agreements contained herein and other good and
valuable consideration, the City and Owner agree as follows:
1. The recitations set forth in the Preambles hereto are material to this Agreement
and are hereby incorporated into and made a part hereof as if fully set forth and
said recitations constitute the understanding of the City and the Owner.
2. That the City and Owner agree that the TUSCAN PLAZA DEVELOPMENT
AGREEMENT, REDEVELOPMENT AGREEMENT FOR THE DOWNTOWN
YORKVILLE REDEVELOPMENT PROJECT AREA and FIRST
AMENDMENT TO THE REDEVELOPMENT AGREEMENT FOR THE
DOWNTOWN YORKVILLE REDEVELOPMENT PROJECT AREA, as
described above, are hereby terminated.
3. That the City shall repeal Ordinance Numbers 2006-55, 2007-40 and 2007-61 that
adopted the above agreements.
4. That the City and Owner release and forever discharge the other Party from any
and all claims, demands, liabilities, obligations and damages of any and every
kind or character whatsoever, at law, in equity or otherwise, known or unknown,
disclosed or undisclosed, absolute or contingent, that either Party now has, has
had or may hereafter have by reason of any matter, cause or thing whatsoever
arising out of or incidental to the agreements described in Section 2.
5. Each Party represents, warrants and covenants to the other that no promise,
representation or agreement which is not herein expressed has been made to it in
executing the Agreement and that this Agreement has received all requisite
corporate approvals and is enforceable against it in accordance with its terms.
6. That promptly after the approval by the City the Agreement and Ordinance
approving the Agreement shall be recorded with the Kendall County Recorder.
7. This Agreement shall be binding upon and inure to the benefit of the Parities and
their successors and assigns.
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United City of Yorkville
By: )VOM4
Ma or
Attest:
be puTY City Clerk
GRW Properties, LLC, an Illinois
LimitediLiabDilit Company
,r
By
Grant ha l, Sole Member
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