Ordinance 2013-12 i
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UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
ORDINANCE NO . 201342
AN ORDINANCE APPROVING A REDEVELOPMENT AGREEMENT
FOR THE DOWNTOWN YORKVILLE REDEVELOPMENT PROJECT AREA
(TCB 123, LLC d1b/a Rowdys)
Passed by the City Council of the
United City of Yorkville, Kendall County, Illinois
This 12`x' day of February, 2013
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Published in pamphlet form by the
authority of the Mayor and City Council
of the United City of Yorkville, Kendall
County, Illinois on April 26 , 2013 .
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Ordinance No. 2013- a
AN ORDINANCE APPROVING A REDEVELOPMENT AGREEMENT
FOR THE DOWNTOWN YORKVILLE REDEVELOPMENT PROJECT AREA
( TCB 123, LLC d/b/a Rowdys)
WHEREAS , by Ordinance No . 2006-46 adopted by the Mayor and City Council of the
United City of Yorkville (the " City") on June 13 , 2006, the Downtown Yorkville Tax Increment
Financing Redevelopment Project and Plan (hereinafter the "Redevelopment Plan ") was
approved, which project and plan covered some of the oldest properties of the City which
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constitute a significant portion of the City ' s historic Downtown ; and,
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WHEREAS , by Ordinance No . 2006-47 and No . 2006-48 adopted by the Mayor and
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City Council of the City on June 13 , 2006, the City designated approximately 200 acres
containing 114 buildings as a "redevelopment project area" (" Yorkville Downtown
Redevelopment Project Area") and adopted tax increment financing pursuant to the Tax
Increment Allocation Redevelopment Act (65 ILCS 5/ 11 -74 . 4- 1 et seq . ) (hereinafter referred to
as the "Act") ; and,
WHEREAS, pursuant to the Act and in furtherance of the Redevelopment Plan, TCB
123 , LLC (the "Developer") submitted to the United City of Yorkville (the " City") a proposal to
acquire the property commonly known as 210 South Bridge Sheet, Yorkville, Illinois, identified
as Parcel No . 02-33 - 154-003 , and lease a portion of the property commonly known as 212 South
Bridge Street, Yorkville, which properties are located within the Yorkville Downtown
Redevelopment Project Area (the "Subject Property") , for the purpose of redevelopment as a
restaurant and bar to operate under the name of "Rowdys" and has advised the City that in order
to proceed, financial assistance would be required for certain costs to be incurred, which costs
would constitute "Redevelopment Project Costs" as defined by the Act; and,
Ordinance No . 2013 - 101
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WHEREAS , the Developer is prepared to proceed to enter into an installment purchase
contract for the Subject Property and the redevelopment thereof in reliance upon the incentives
committed by the City as set forth in the Redevelopment Agreement attached hereto and made a
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part hereof.
NOW, THEREFORE, BE IT ORDAINED by the Mayor and City Council of the
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United City of Yorkville, Kendall County, Illinois, as follows :
Section 1 . The Redevelopment Agreement for the Downtown Yorkville Redevelopment
Project Area (TCB 123 , LLC d/b/a "Rowdys") is hereby approved and the Mayor and City Clerk
are hereby authorized to execute said Agreement.
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Section 2. The City Administrator is hereby authorized to undertake any and all action as
may be required to implement the terms thereof.
Section 3 . This Ordinance shall be in full force and effect from and after its passage and
approval as provided by law .
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Passed by the City Council of the United City of Yorkville, Kendall County, Illinois, this
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day of
v bra a Ir _, A . D . 2013 ,
CARLO COLOSIMO KEN KOCH
JACKIE MILSCHEWSKI I LARRY KOT
MARTY MUNNS CHRIS FUNKHOUSER
ROSE ANN SPEARS I DIANE TEELING
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Ordinance No . 2013 - chi
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APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
this cl 7 day of 15k U 4P.y , A.D . 2013 .
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Mayor
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Attest.,
City Clerk
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Ordinance No . 2013 - /oZ
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REDEVELOPMENT AGREEMENT FOR THE
DOWNTOWN YORKVILLE REDEVELOPMENT PROJECT AREA
(TCB123, LLC d1b/a Rowdys)
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THIS, AGREEMENT dated as of the ,:� day of Arlt %2L 2013 , by and between
the United City of Yorkville, Kendall County, Illinois, a municipal corporation (hereafter the
" City") and TC13123 , LLC, an Illinois limited liability company corporation (hereafter the
"Developer") .
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WITNESSETH:
WHEREAS , by Ordinance No. 2006-46 adopted by the Mayor and City Council of the
City (the "Corporate Authorities") on June 13 , 2006, the Downtown Yorkville Tax Increment
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Financing Redevelopment Project and Plan (hereinafter the "Redevelopment Plan") was
approved, which project and plan covered some of the oldest properties of the City which
constitute a significant portion of the City ' s historic Downtown; and,
WHEREAS, by Ordinance No . 2006-47 and No . 2006-48 adopted by the Corporate
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Authorities on June 13 , 2006, the City designated approximately 200 acres containing 114
buildings as a "redevelopment project area" (" Yorlwille Downtown Redevelopment Project
Area") and adopted tax increment financing pursuant to the Tax Increment Allocation
Redevelopment Act (65 ILCS 5/11 -74.4- 1 et seq.) (hereinafter referred to as the "Act."); and,
WHEREAS , pursuant to the TIF Act, the Corporate Authorities are empowered to j
undertake the development and redevelopment of a designated area within its municipal limits in
which existing conditions permit such area to be classified as a "conservation area" as defined in
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Section 11 . 74 .4.4-3 (a) of the Act as in the case of the Yorkville Downtown Redevelopment
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Project Area; and
WHEREAS, the Corporate Authorities have determined that the blighting factors which
are readily observed in the Yorkville Downtown Redevelopment Project Area are detrimental to
the public and impair redevelopment of this area of the City, with the result that it is necessary to
incur extraordinary costs in order to see it redeveloped and revitalized. The blighting factors in
the Yorkville Downtown Redevelopment Project Area will continue to impair growth and
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redevelopment but for the use of tax increment allocation financing to pay Redevelopment
Project Costs (as defined in Section 3 of this Agreement) which necessarily must be incurred to
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implement a program of redevelopment; and,
WHEREAS, pursuant to the Act and in furtherance of the Redevelopment Plan the
Developer has submitted to the City a proposal to acquire the property commonly known as 210
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South Bridge Street, Yorkville, Illinois, identified as Parcel No . 02-33454-003 and to lease a
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portion of 212 South Bridge Street, Yorkville, Illinois, identified as Parcel No . 02-33 - 154-024
(collectively, the "Subject Property"), which is located within the Yorkville Downtown
Redevelopment Project Area, for the purpose of redevelopment as a restaurant and bar (the
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"Project") , and has advised the City that in order to proceed, financial assistance would be
required for certain costs to be incurred, which costs would constitute "Redevelopment Project
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Costs"; and,
WHEREAS . as a result of the Developer' s proposal, the City passed Resolution No .
2012-34 on December 11 , 2012, being a Resolution to Induce the Redevelopment of Certain
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Property within the Yorkville Downtown Tax Increment Redevelopment Project Area (the
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"Resolution") ; and,
WHEREAS, the Developer is prepared to proceed with the Project in reliance upon the
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aforesaid Resolution and has now requested this Agreement in order to specifically outline the
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respective obligations of the parties hereto in connection with the Project and the implementation
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of the Redevelopment Plan for the Yorkville Downtown Redevelopment Project Area, all as. j
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hereinafter set forth.
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NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants hereinafter set forth, the parties agree as follows :
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Section 1. Incorporation . The representations and recitations set forth in the preambles
hereto are material to this Redevelopment Agreement and are hereby incorporated into and made
a part of this Redevelopment Agreement as though fully set forth in this Section I and said
representations and recitations constitute the understandings of the City and the Developer,
Section 2. The Developer 's Project,
A. The Developer represents and warrants that on or before March 1 , 20135 it shall
have entered into an installment purchase contract for 210 South Bridge Street and a lease for
one of the first floor units of 212 South Bridge Street.
B . The Developer covenants and agrees to redevelop the Subject Property as a restaurant
and bar (the "Business") in conformance with all applicable federal, state and City laws,
regulations, ordinances, zoning and building codes, life safety codes, property maintenance
codes and all other applicable ordinances of the City (collectively hereinafter referred to as the
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"Legal Requirements") and complete the Project on or before December 31 , 2013 .
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C. The Developer has submitted an estimated budget for the Project which budget is
attached hereto as Exhibit A . The Developer hereby represents and agrees that it shall invest no
less than $ 1 ,700,000 to complete the Project including the cost of acquisition of 210 South
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Bridge Street,
D . The Developer hereby represents and warrants that financing has been
obtained in an amount sufficient to complete the Project.
Section 3. Construction of Developer Improvements; Developer Payments. j
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(a) In consideration for the development of the Project by the Developer, so long as
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no event described in Section 17 of this Agreement shall have occurred and be continuing, the
City shall reimburse the Developer for the Redevelopment Project Costs in respect to the Project
as set forth on Exhibit A , in accordance with the provisions of Section 4 hereof and subject to the
limitations of the TIF Act, from a portion of the Incremental Taxes, as defined below, derived
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from the Subject Property in an amount not to exceed $ 173 , 000 until the "Termination Date" as
defined in Section 5 hereof. For purposes of this Agreement, "Redevelopment Project Costs"
shall mean and include all costs defined as "redevelopment project costs" in Section 11 -74.4-3 (q)
of the TIF Act which are eligible for reimbursement under the TIF Act.
(b) In connection with the establishment and ongoing administration of the
Redevelopment Project Area, the City has established a special tax allocation fund pursuant to
the requirements of the TIF Act (the "Special Tax Allocation Fund" or the "STAF") , into which
the City shall deposit all Incremental Taxes generated by the Yorkville Downtown j
Redevelopment Project Area, The City shall further establish, upon execution of this
Agreement, a segregated special sub-account of the STAF designated the "Rowdys Sub-
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Account." The City shall reimburse the Developer for Redevelopment Project Costs, pursuant to
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this Agreement, only from Incremental Taxes on deposit from time to time in the Rowdys Sub-
Account, as described below, until the Termination Date as follows :
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(i) on October 1 of each year during the term of this Agreement (or, if later, I
the date which is ten ( 10) days following the date upon which the City receives
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Incremental Taxes from the final installment from Kendall County (the "STAF
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Allocation Date")), seventy-five percent (75 %) of all Incremental Taxes credited
to the STAF in respect of the Subject Property during the period from the
immediately preceding STAF Allocation Date to, but not including, the current
STAF Allocation Date shall be transferred and deposited by the City into the
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Rowdys Sub-Account and shall be used solely to reimburse the Developer for
Redevelopment Project Costs, in accordance with Section 4 of this Agreement. j
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(ii) after the Developer has submitted any Requests for Reimbursement
pursuant to Sections 4(b) and 4(c) , any amount remaining in the Rowdys Sub-
Account, in excess of the amount required to reimburse the Developer for
Redevelopment Project Costs shall be transferred by the City to the STAF.
THE CITY' S OBLIGATIONS TO REIMBURSE THE DEVELOPER UNDER THIS
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AGREEMENT IS A LIMITED OBLIGATION PAYABLE SOLELY FROM INCREMENTAL
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TAXES DEPOSITED IN THE ROWDYS SUB -ACCOUNT FROM TIME TO TIME AND
SHALL NOT BE SECURED BY THE FULL FAITH AND CREDIT OF THE CITY. As used
in this Agreement, "Incremental Taxes" shall mean the amount in the STAF equal to the amount
of ad valorem taxes, if any, paid in respect of the Yorkville Downtown Redevelopment Project
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Area and all im rovements, which is attributable to the increase in the equalized assessed value
of the Yorkville Downtown Redevelopment Project Area and all improvements over the initial
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equalized assessed value of the Yorkville Downtown Redevelopment Project Area.
Section 4. Procedures for and Application of Reimbursement to the Developer:
(a) The Developer shall advance all funds and all costs necessary to undertake the
Project and all costs eligible for reimbursement pursuant to this Agreement in connection
therewith.
(b) To establish a right of reimbursement for specific Redevelopment Project Costs
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under this Agreement, the Developer shall annually submit to the City Administrator a written
statement in the form attached to this Agreement as Exhibit B (a "Request.for Reimbursement")
setting forth the amount of reimbursement requested and the specific Redevelopment Project
Costs for which reimbursement is sought. Each Request for Reimbursement shall be
accompanied by such bills, contracts, invoices, lien waivers, or other evidence as the City
Administrator shall reasonably require to evidence the right of the Developer to reimbursement
under this Agreement. The City Administrator shall have twenty (20) days after receipt of any
Request for Reimbursement from the Developer to approve or disapprove such Request and, if
disapproved, to provide the Developer in writing and in detail with an explanation as to why it is
not prepared to recommend such reimbursement. The only reasons for disapproval of any
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expenditure for which reimbursement is sought shall be that such expenditure is not an eligible
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Redevelopment Project Cost, that it is not contained on Exhibit A (provided that the Developer
shall have the right to reallocate such costs as listed) , or that it was not incurred and completed
by the Developer in accordance with the Legal Requirements and the provisions of this
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Agreement, including, without limitation, all plans and specifications submitted to and pre-
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approved by the City. The parties acknowledge that the determination of Redevelopment Project
Costs and qualification for reimbursement under this Agreement are subject to the TIF Act, all
amendments to the TIF Act both before and after the date of this Agreement, and administrative
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rules and judicial interpretations rendered during the term of this Agreement. The City has no
obligation to the Developer to attempt to modify said rules or decisions but will cooperate with
the Developer in obtaining approval of Redevelopment Project Costs .
(c) Reimbursement of Redevelopment Project Costs shall be made annually after
each STAF Allocation Date (or, if later, the date which is ten ( 10) days following approval by
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the City of payment of such Redevelopment Project Costs) ; provided that reimbursement of
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Redevelopment Project Costs shall only be made to the extent money is available therefor in the
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Rowdys Sub-Account. To the extent money in the Rowdys Sub-Account is insufficient to
reimburse the Developer for Redevelopment Project Costs for that year, the City shall reimburse
the Developer once funds are deposited into the Rowdys Sub-Account in subsequent years .
Notwithstanding the foregoing, if money is not available in the Rowdys Sub-Account to
reimburse the Developer for Redevelopment Project Costs and the reason for the lack of funds is
that the Developer or its successors in interest have not paid real estate taxes for the Subject
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Property when due and owing, the City shall not be required to make payment until taxes are
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paid.
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Section S. Term.
Unless earlier terminated pursuant to Section 17, the term of this Agreement shall
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commence on the date of execution and end on the earlier of. (i) reimbursement to the Developer
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of $ 173 , 000 ; or, (ii) December 31 , 2029 (the "Termination Date").
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Section 6. Verification of Tax Increment.
The Developer shall use its best efforts to cooperate with the City in obtaining certified
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copies of all real estate tax bills for the Subject Property during the term of this Agreement.
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Section 7. No Liability of City to Others for Developer 's Expenses.
The City shall have no obligations to pay costs of the Project or to make any payments to
any person other than the Developer, nor shall the City be obligated to pay any contractor,
subcontractor, mechanic, or materialman providing services or materials to the Developer for the
development of the Project.
Section 8. Time; Force Majeure. j
Time is of the essence of this Agreement; rop vided, however, a party shall not be deemed
in material breach of this Agreement with respect to any of such party' s obligations to be
performed under this Agreement, if such party fails to timely perform the same and such failure
is due in whole or in part to any strike, lock-out, labor trouble (whether legal or illegal), civil
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disorder, inability to procure materials, failure or interruptions of power, restrictive governmental
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laws and regulations, condemnations, riots, insurrections, war, fuel shortages, accidents j
casualties, floods, earthquakes, fires, acts of God, epidemics, quarantine restrictions, freight
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embargoes, acts caused directly or indirectly by the other party (or the other party' s agents,
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employees or invitees) or similar causes beyond the reasonable control of such party ("Force
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Majeure"). If one of the foregoing events occurs or either party claims that such an event
occurred, the party to whom such claim is made shall investigate and consult with the party
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making such claim, and the party to whom such claim is made shall grant any extension for the j
performance of the unsatisfied obligation equal to the period of the delay, which period shall
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commence to run from the time of the commencement of the Force Majeure; provided that the
failure of performance was reasonably caused by such Force Majeure.
Section 9. Assigttuient.
This Agreement may not be assigned by the Developer without the prior written consent
of the City, which consent shall not be unreasonably withheld.
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Section 10. Developer Indemnification.
The Developer shall indemnify and hold harmless the City, its agents, officers and
employees against all injuries, deaths, losses, damages, claims, suits, liabilities, judgments, costs,
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and expenses (including any liabilities, judgments , costs and expenses and reasonable attorney' s
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fees) which may arise directly or indirectly from the failure of the Developer, or any contractor,
subcontractor, agent, or employee thereof (so long as such contractor, subcontractor, agent, or
employee thereof is hired by the Developer) to timely pay any contractor, subcontractor, laborer,
or materialman; from any default or breach of the terms of this Agreement by the Developer; or
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from any negligence or reckless or willful misconduct of the Developer or any contractor,
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subcontractor, agent, or employee thereof (so long as such contractor, subcontractor or agent or
employee is hired by the Developer) . The Developer shall, at its own cost and expense, appear,
defend, and pay all charges of attorneys, costs, and other expenses ar7sing therefrom or incurred
in connection therewith. If any judgment shall be rendered against the City, its agents, officers,
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officials, or employees in any such action, the Developer shall have no obligation whatsoever,
with respect to any acts of negligence or reckless or willful misconduct on the part of the City or
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any of its officers, agents, employees, or contractors.
Section 11. Waiver:
Any party to this Agreement may elect to waive any remedy it may enjoy hereunder,
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provided that no such waiver shall be deemed to exist unless the party waiving such right or
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remedy does so in writing. No such waiver shall obligate such party to waive any right or
remedy hereunder, or shall be deemed to constitute a waiver of other rights and remedies
provided said party pursuant to this Agreement.
Section 12. Severability.
If any section, subsection, term, or provision of this Agreement or the application thereof
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to any party or circumstance shall, to any extent, be invalid or unenforceable, the remainder of
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said section, subsection, tern, or provision of this Agreement, or the application of same to
parties or circumstances other than those to which it is held invalid or unenforceable, shall not be
affected thereby.
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Section 13. Notices.
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All notices, demands, requests, consents, approvals, or other instruments required or
permitted by this Agreement shall be in writing and shall be executed by the party, or an officer,
agent, or attorney of the party, and shall be deemed to have been effective as of the date of actual
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delivery, if delivered personally, or as of the third (3'd} day from and including the date of j
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posting, if mailed by registered or certified mail, return receipt requested, with postage prepaid,
addressed as follows :
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To the Developer: TCB 123 , LLC
c/o Donald Thatcher
210 South Bridge Street
Yorkville, Illinois 60560
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To the City: United City of Yorkville
800 Game Farm Road
Yorkville, Illinois 60560
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With u copy to : Kathleen Field Orr
Kathleen Field Orr & Associates
53 West Jackson Blvd. , Suite 935
Chicago, Illinois 60604
Section 14. Successors in Interest.
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This Agreement shall be binding upon and inure to the benefit of the parties to this
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Agreement and their respective successors and assigns.
Section 15. No Joint Venture, Agency, or Partnership Created.
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Neither anything in this Agreement nor any acts of the parties to this Agreement shall be
construed by the parties or any third person to create the relationship of a partnership, agency, or
joint venture between or among such parties ,
Section 16. No Disct irnination — Construction.
The Developer, or its successors or assigns, agrees that with respect to the development
of the Project and the operation of the Business it shall not discriminate against any employee or
applicant for employment because of race, color, religion, sex or national origin. The Developer
shall take affirmative action to require that applicants are employed and that employees are
treated during employment, without regard to their race, creed, color, religion, sex or national
origin. Such action shall include, but not be limited to, the following: employment upgrading,
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demotion or transfer; recruitment or recruitment advertising and solicitations or advertisements
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for employees; layoff or termination; rates of pay or other forms of compensation ; and selection
for training, including apprenticeship. The Developer agrees to post in conspicuous places,
available to employees and applicants for employment, notices, which may be provided by the
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City, setting forth the provisions of this nondiscrimination clause.
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Section 17. Rentedies — Liability.
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(a) If, in the City' s judgment, the Developer is in material default of this Agreement,
the City shall provide the Developer with a written statement indicating any failure on the
Developer' s part to fulfill its obligations under this Agreement. Except as required to protect
against further damages, the City may not exercise any remedies against the Developer in
connection with such failure until thirty (30) days after giving such notice. If such default cannot
be cured within such thirty (30) day period, such period shall be extended for such time as is
reasonably necessary for the curing of the same, so long as the Developer diligently proceeds
with such cure; if such default is cured within such extended period, the default shall not be
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deemed to constitute a breach of this Agreement. A default not cured as provided above shall
constitute a breach of this Agreement. Any failure or delay by the City in asserting any of its
rights or remedies as to any default or alleged default or breach shall not operate as a waiver of
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any such default or breach of any rights or remedies it may have as a result of such default or
breach .
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(b) If the Developer materially fails to fulfill its obligations under this Agreement
after notice is given by the City and any cure periods described in paragraph (a) above have
expired, the City may elect to terminate this Agreement or exercise any right or remedy it may
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have at law or in equity, including the right to specifically enforce the terms and conditions of j
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this Agreement. If any voluntary or involuntary petition or similar pleading under any section of
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any bankruptcy or insolvency act shall be filed by or against the Developer; or any voluntary or
involuntary proceeding in any court or tribunal shall be instituted to declare the Developer
insolvent or unable to pay the Developer' s debts ; or the Developer makes an assigmnent for the l
benefit of its creditors ; or a trustee or receiver is appointed for the Developer or for the major
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part of the Developer' s property; the City may elect, but is not required to, terminate this
Agreement with or without notice, to the extent permitted by law and enforceable under
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applicable federal bankruptcy laws. In order to terminate this Agreement, the City' s sole
obligation shall be to record a Certificate of Default with the Kendall Recorder ' s Office,
executed by the Mayor, stating that this Agreement is terminated pursuant to the provisions of
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this Section 17(b), in which event this Agreement shall ipso facto automatically become null and �
void and of no further force and effect.
(c) If, in the Developer' s judgment, the City is in material default of this Agreement,
the Developer shall provide the City with a written statement indicating in adequate detail any
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failure on the City' s part to fulfill its obligations under this Agreement. The Developer may not
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exercise any remedies against the City in connection with such failure until thirty (30) days after
giving such notice. If such default cannot be cured within such thirty (30) day period, such
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period shall be extended for such time as is reasonably necessary for the curing of the same, so
long as the City diligently proceeds with such cure; if such default is cured within such extended
period, the default shall not be deemed to constitute a breach of this Agreement. Any failure or
delay by the Developer in asserting any of its rights or remedies as to any default or any alleged
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default or breach shall not operate as a waiver of any such default or breach of any rights or
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remedies it may have as a result of such default or breach.
(d) In addition to any other rights or remedies, a party may institute legal action
against the other party to cure, correct, or remedy any default, or to obtain any other remedy
consistent with the purpose of this Agreement, either at law or in equity, including, but not
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limited to, the equitable remedy of an action for specific performance; provided, however, no
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recourse for any claim under or upon any obligation contained in this Agreement shall be had
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against the City, its officers, agents, attorneys, representatives, or employees, in any amount or in
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excess of any specific sum agreed to be paid by the City pursuant to this Agreement; and no
liability, right, or claim at law or in equity shall be attached to or incurred by the City, its
officers, agents, attorneys, representatives, or employees in any amount in excess of any specific
sums agreed by the City to be paid hereunder, and any such claim is hereby expressly waived
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and released as a condition of and as consideration for the execution of this Agreement by the
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City.
(e) The rights and remedies of the parties are cumulative and the exercise by a party
of one or more such rights or remedies shall not preclude the exercise, at the same time or
different times, of any other rights or remedies for the same default or for any other default by
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the other party,
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Section 18. Amendment.
This Agreement, and any exhibits attached to this Agreement, may be amended only in `
writing signed by all parties with the adoption of any ordinance or resolution of the City
approving the amendment, as provided by law, and by execution of the amendment by the parties
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or their successors in interest. Except as otherwise expressly provided herein, this Agreement
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supersedes all prior agreements, negotiations, and discussions relative to the Project.
Section 19. Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be
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deemed an original but all of which together shall constitute one and the same instrument.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
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executed by their duly authorized officers on the above date at United City of Yorkville, Kendall
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County, Illinois .
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City of United City of Yorkville, Kendall County,
an Illinois municipal corporation
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By: V
Mayor
Attest:
A�
City Clerk
TCB 123 , LLC, an Illinois limited liability
corporation
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Exhibit A
Redevelopment Project Costs
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Mason Building Expansion $445000
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Construction of new bathrooms and expansion of the kitchen $225000
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Construction of a multi-tiered deck at the back of the building,
eliminating both storage closets and first entry in the back of the building $ 16,000
Constnuction of an additional story to the deck for visuals of the river $ 15,000
Installation of concrete or wood floors. Resupport or replace floor joists $ 33 ,000
Eliminate all outdated wall paneling and paint mason blocks on south wall
with a cultured stone base $ 18 ,000
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Place a new sign, improve the front entry, new cultured stone, brick lob
siding over current cedar. $25, 000
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Exhibit B
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REQUEST FOR REIMBURSEMENT
City of Yorkville
800 Game Farm Road
Yorkville, Illinois 61490-9999
Re : Redevelopment Agreement dated , by and between the United City of Yorkville, an
Illinois municipal corporation, and TCB123, LLC, an Illinois limited liability company
Dear Sir:
You are requested to approve the disbursement of funds from the Rowdys Sub-Account Special Tax
Allocation Fund pursuant to Section 4(b) of the Redevelopment Agreement described above in the amount(s), to the
person(s) and for the purpose(s) set forth in this Request for Reimbursement. The terms used in this Request for
Reimbursement shall have the meanings given to those terms in the Redevelopment Agreement.
1 . Request for Reimbursement No. :
2 . Payment Due to :
3 . Amount to be Disbursed:
4, The amount requested to be disbursed pursuant to this Request for Reimbursement will be used to
pay Redevelopment Project Costs as defined in the Agreement and as listed on the Schedule to
this Request for Reimbursement.
5 . The undersigned certifies that:
(i) the amounts included in 3 above were made or incurred or financed and were necessary
for the project and were made or incurred in accordance with the construction contracts,
plans and specifications heretofore in effect;
(ii) the amounts paid or to be paid, as set forth in this Request for Reimbursement, represents
a part of the funds due and payable for Redevelopment Project Costs;
(iii) the expenditures for which amounts are requisitioned represent proper Redevelopment
Project Costs identified in the Agreement, have not been included in any previous
Request for Reimbursement, have been properly recorded on the Developer' s books and
are set forth on the attached Schedule, with paid invoices attached for all sums for which
reimbursement is requested;
(iv) the moneys requisitioned are not greater than those necessary to meet obligations due and
payable or to reimburse the Developer for his funds actually advanced for
Redevelopment Project Costs;
(v) the amount of Redevelopment Project Costs to be reimbursed in accordance with this
Request for Reimbursement, together with all amounts reimbursed to the Developer
pursuant to the Agreement, is not in excess of $ 173 ,000 ;
(vi) the Developer is not in default under the Agreement and nothing has occurred to the
knowledge of the Developer that would prevent the performance of its obligations under
the Agreement.
6 . Attached to this Request for Reimbursement are copies of invoices or bills of sale and Mechanic ' s
Lien Waivers covering all items for which reimbursement is being requested.
TCB 123 , LLC, an Illinois limited liability
company
Date:
By: —
APPROVED :
City of Yorkville, an Illinois municipal corporation
18
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