Ordinance 2007-037 STATE OF ILLINOIS )
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COUNTY OF KENDALL )
ORDINANCE NO. 2007- t�
AN ORDINANCE AUTHORIZING THE EXECUTION
OF A DEVELOPMENT/ECONOMIC INITIATIVE AGREEMENT
DTD INVESTMENTS, LLC
(Greenbrier Road Parcel)
WHEREAS, it is deemed prudent and in the best interest of the UNITED CITY OF
YORKVILLE, Kendall County, Illinois, that a certain Development/Economic Initiative
Agreement pertaining to the development of real estate described within the Agreement -
which is attached hereto as and made a part hereof as Exhibit "A" be entered into by the
UNITED CITY OF YORKVILLE; and
WHEREAS, said Agreement has been drafted and has been considered by the City
Council; and
WHEREAS, the legal owners of record of the property subject to the Agreement are
ready, willing and able to enter into said Agreement and to perform the obligations as
required hereunder; and
WHEREAS, the reasons for entering into this Agreement and benefits to the City are
described within the Agreement and thereby made a part of this Ordinance, and
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WHEREAS, the statutory procedures including specific findings as required by 65
ILCS 8- 11 -20, as amended, for economic incentive agreements have been complied with,
and said findings are contained in the Agreement (Exhibit "A "),
NOW THEREFORE, BE IT ORDAINED BY THE MAYOR AND THE CITY
COUNCIL OF THE UNITED CITY OF YORKVILE, KENDALL COUNTY,
ILLINOIS, AS FOLLOWS;
Section 1: The preambles, above, are incorporated by this reference as if written in
full at this place.
Section 2: The Mayor and the City Clerk are herewith authorized and directed to
execute, on behalf of the City, the Development/Economic Initiative Agreement
concerning certain real estate described therein, a copy of which attached hereto and
made a part hereof as Exhibit "A ".
Section 2: This ordinance shall be in full force and effect from and after its passage
and approval as provided by law.
JAMES BOCK u JOSEPH BESCO -�
VALERIE BURD PAUL JAMES l
GARY GOLINSKI MARTY MUNNS ^
ROSE SPEARS JASON LESLIE t..
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Approved by me, as Mayor of the United City of Yorkville, Kendall County,
Illinois, this day of ' , A.D. 2007.
MAYOR
Passed by the City Council of the United City of Yorkville, Kendall County,
Illinois this day of-� _D , A.D. 2007.
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ATTEST:
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CITY CLERK
Prepared by:
John Justin Wyeth
City Attorney
United City of Yorkville
800 Game Farm Road
Yorkville, IL 60560
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EXHIBIT "A"
DEVELOPMENPECONOMIC INITIATIVE AGREEMENT
The petitioners did not acquire the property as planned. Therefore, the city did not receive an
executed development/economic initiative agreement from the petitioners.
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