Ordinance 2006-072 20116 iiiii
Filed for Record in
STATE OF ILLINOIS ) i!.ENDALL COUNTY? ILLINOIS
PAUL AHDER60H
ss 09 -29-2006 At 1-12'.31 pm,
COUNTY OF KENDALL ) ORDINANC:E 91.00
RHOOP vurcharse I1') 0i1
ORDINANCE NO. 2006-
' AN ORDINANCE AUTHORIZING THE EXECUTION
OF AN ANNEXATION AGREEMENT OF
(Evergreen Farms)
WHEREAS, it is prudent and in the best interest of the UNITED CITY OF
YORKVILLE, Kendall County, Illinois, that a certain Annexation Agreement pertaining
to the annexation of real estate described on the Exhibit "A" attached hereto and made a
part hereof entered into by the UNITED CITY OF YORKVILLE; and
WHEREAS, said Annexation Agreement has been drafted and has been considered
by the City Council; and
WHEREAS, the legal owners of record of the territory which is the subject of said
Agreement are ready, willing and able to enter into said Agreement and to perform the
obligations as required hereunder; and
WHEREAS, the statutory procedures provided in 65 ILCS 11- 15.1.1, as amended,
for the execution of said Annexation Agreement has been fully complied with; and
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WHEREAS, the property is presently contiguous to the City.
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 Mayor and the City Clerk are herewith authorized and directed to
execute, on behalf of the City, an Annexation Agreement concerning the annexation of
the real estate described therein, a copy of which Annexation Agreement is attached
hereto and made a part hereof.
Section 2: This ordinance shall be in full force and effect from and after its- passage
and approval as provided by law.
JAMES BOCK J JOSEPH BESCO J
VALERIE BURD YL PAUL JAMES l�
DEAN WOLFER MARTY MUNNS (�
ROSE SPEARS YL JASON LESLIE
Approved by me, as Mayor of the United City of Yorkville, Kendall County,
Illinois, this O Day of A UC U5 % , A.D. 2006.
MAYO
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Passed by the City Council of the United City of Yorkville, Kendall County,
Illinois this 0 day of AU G U6 , A.D. 2006.
ATTEST:
v
CITY CLERK
Prepared by:
John Justin Wyeth
City Attorney
United City of Yorkville
800 Game Farm Road
Yorkville, IL 60560
I
Page 3 of 3
REVISED August 28, 2006
THIS DOCUMENT PREPARED BY:
John P. Martin
Huck Bouma PC
1755 South Naperville Road
Suite 200
Wheaton, Illinois 60187
(630) 221 -1755
ANNEXATION AGREEMENT
EVERGREEN FARM ESTATES
This annexation agreement (the "Agreement "), is made and entered into this day of (,(�CcCS r,
2006 by and among the United City of Yorkville, an Illinois municipal corporation located in
Kendall County, Illinois (the "City ") and EVERGREEN FARM ESTATES LLC, a Illinois limited
liability company (the "Owner ") (The City and Owner are hereinafter collectively referred to as
"Parties" and individually referred to as a "Party").
ARTICLE I
RECITALS
A. Owner is the owner of record of approximately 49 acres of real property located
generally at the intersection of Fox and Pavillion Roads in Kendall County, Illinois, which property
is legally described on Exhibit A, attached hereto ( "Property").
B. The territory that is the subject matter of this Agreement includes the Property and
the right -of -way of Fox and Pavillion Roads adjacent to the Property. Said territory is depicted and
legally described on the Plat of Annexation attached hereto as Exhibit B.
C. The Parties desire to enter into this Agreement pursuant to the provisions of Section
11- 15.1 -1 et seq. of the Illinois Municipal Code, Ill. Rev. Stat., Ch. 24, and Para. I1- 15.1 -1 et seq.
(1987), in accordance with the terms and conditions hereinafter set forth.
D. The Property is not presently within the corporate limits of any municipality.
E. Owner seeks to annex the Property to the City and to improve the Property with a
residential use in accordance with the Concept Plan attached hereto as Exhibit C ( "Concept Plan").
F. The City has agreed to annex the Property, to zone the Property as R -2 Residential
District, and to grant the variations hereinafter described in order to facilitate Owner's improvement
of the Property in accordance with the Concept Plan including density proposed and a total lot count
of not less than seventy -seven (77).
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G. Owner has filed with the City Clerk a proper Annexation Petition ( "Annexation
Petition ") pursuant to Section 7 -1 -8 of the Illinois Municipal Code, M. Rev. Stat. Ch. 24, and Para.
7 -1 -8 (1987); there are no electors residing thereon.
H. Pursuant to the applicable provisions of the Illinois Municipal Code, a proposed
Annexation Agreement similar in substance and in form to this Agreement was submitted to the
Mayor and City Council of the City ( "Corporate Authorities ") and a public hearing was held thereon
pursuant to notice, as provided by statute.
I. Pursuant to notice, as required by statute and ordinance, public hearings were held by
the City Plan Commission on the requested zoning of the Property, the requested approval of the
requested zoning, and the requested approval of the variations hereinafter described, and the findings
of fact and recommendations made by said body relative to such requests have been forwarded to the
Corporate Authorities.
J. Due and proper notice of the proposed annexation will be given to the Trustees of
Kendall Township, the Kendall Township Commissioner of Highways and the Bristol/Kendall Fire
Protection District will be given more than ten (10) days prior to any action being taken on the
annexation of the Property, said notice to be given by the City.
K. All other and fixrther notices, publications, procedures, public hearings and other
matters attendant to the consideration and approval of this Agreement and the annexation and zoning
of the Property have been given, made, held and performed by the City as required by Section 7 -1 -8
and Section 11- 15.1 -1 et seq. of the Illinois Municipal Code, 111. Rev. Stat. Ch. 24, Paras. 7 -1 -8 and
11- 15.1 -1 et seq. (1987), and all other applicable statutes, and all applicable ordinances, regulations
and procedures of the City. This Agreement is made and entered into by the Parties pursuant to the
provisions of Section 11- 15.1 -1 et seq. of the Illinois Municipal Code.
L. The Corporate Authorities have duly considered all necessary petitions to enter into
this Agreement, have considered the recommendations of the City Plan Commission in connection
with the proposed zoning of the Property and have further duly considered the terns and provisions
of this Agreement and have, by a resolution duly adopted by a vote of two- thirds (2/3) of the
Corporate Authorities then holding office, authorized the Mayor to execute, and the City Clerk to
attest, this Agreement on behalf of the City.
M. Owner has expended substantial sums of money and has materially altered its
position in reliance upon the execution of this Agreement and the performance of its terms and
provisions by the City.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants
and agreements herein made, the Parties hereby agree as follows:
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ARTICLE II
ANNEXATION OF THE PROPERTY
Contingent upon the provisions of Article XVIII hereof, on or before the fifteenth (15th) day
following the existence of contiguity of the Property with the City, the Corporate Authorities shall
proceed, subject to the terms and conditions set forth in this Agreement, to do all things necessary or
appropriate to cause the Property to be validly annexed to the City. All ordinances, plats, affidavits
and other documents necessary to accomplish annexation shall be recorded by the City at Owner's
expense.
ARTICLE III
ZONING AND DEVELOPMENT OF THE PROPERTY
A. At the same meeting of the Corporate Authorities at which annexation of the
Property to the City is accomplished, the Corporate Authorities shall enact such ordinances, adopt
such resolutions, and take such other actions as are necessary to Zone the Property as R -2
Residential;
ARTICLE IV
CODES AND ORDINANCES; FEES
A. To the extent of any conflict, ambiguity or inconsistency between the terms,
provisions or standards contained in this Agreement and the terms, provisions or standards, either
presently existing or hereafter adopted, of the City Code, the Zoning Ordinance, the Subdivision
Control Ordinance, as hereinafter identified, or any other City code, ordinance or regulation, the
terms, provisions and standards of this Agreement shall govern and control.
B. AMENDMENTS TO ORDINANCES. All ordinances, regulations, and codes of
the City, including, without limitation those pertaining to subdivision controls, zoning, storm
water management and drainage, building requirements, official plan, and related restrictions, as
they presently exist, except as amended, varied, or modified by the terms of this Agreement,
shall apply to the Subject Property and its development for a period of five (5) years from the
date of this Agreement. Any Agreements, repeal, or additional regulations which are
subsequently enacted by the City shall not be applied to the development of the Subject Property
except upon the written consent of DEVELOPER during said five (5) year period. Further,
should any of the fees set forth on Exhibit D (attached hereto and later discussed herein) be
decreased or the timing of payment altered by the City, either through negotiation or order of
court, then and in such event Owner and/or Developer shall also receive the benefit of such
reduction. After said five (5) year period, the Subject Property and its development will be
subject to all ordinances, regulations, and codes of the City in existence on or adopted after the
expiration of said five (5) year period, provided, however, that the application of any such
ordinance, regulation or code shall not result in a reduction in the number of residential building
lots herein approved for the Subject Property, alter or eliminate any of the ordinance variations
provided for herein, nor result in any subdivided lot or structure constructed within the Subject
Property being classified as non - conforming under any ordinance of the City. The foregoing to
the contrary notwithstanding, in the event the City is required to modify, amend or enact any
ordinance or regulation and to apply the same to the Subject Property pursuant to the express and
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specific mandate of any superior governmental authority, such ordinance or regulation shall
apply to the Subject Property and be complied with by DEVELOPER, provided, however, that
any so called "grandfather" provision contained in such superior governmental mandate which
would serve to exempt or delay implementation against the Subject Property shall be given full
force and effect.
C. BUILDING CODE. The City has adopted the International Building Code, which
is updated approximately every three years. The building codes for the City in effect as of the
date of building permit application will govern any and all construction activity within the
Subject Properly.
D. Except as otherwise stated herein, all current City fees applicable to the development
of the Property and construction of residences thereon shall remain fixed for a period of five (5)
years from and after the date of this Agreement. Additionally, no fee or charge of any description
shall be imposed upon Owner or upon the development and use of the Property unless, as of the date
of this Agreement, such fee or charge is in existence and being collected by the City on a uniform
basis from all owners, users and developers of property within the City. The City shall not increase
the amount of any fee or charge for building permit fees, occupancy permit fees, plan review fees,
inspection fees, utility fees, application fees or user fees during the Term of this Agreement unless
such increases are: (i) made generally applicable to all owners, users and developers of property
within the City; and (ii) such increases are reasonably related to increased costs incurred by the City
in providing the services for which such fee is assessed. All building permit and building inspection
fees for any improvement constructed upon the Property shall be due and payable upon issuance of a
building permit for that improvement.
ARTICLE V
SEWER, WATER, OVERSIZED UTILITIES AND PERIMETER ROADS
A. The Property is within the Yorkville Bristol Sanitary District (YBSD) Facility
Planning Area (FPA) as determined by the Illinois Environmental Protection Agency (IEPA). At the
time of development, the City will provide sewer facilities pursuant to the terms of this agreement.
The term "sewer facilities" shall include all sewer lines (other than those sewer lines customarily
installed in the development) and any other equipment and/or structures installed or built to treat or
transmit sewage from the Subject Property.
B. The City will provide municipal water facilities and service pursuant to the terms of
this agreement. The term "water facilities" as used in this paragraph shall not apply to the customary
on -site improvements ordinarily put in by the Owner in connection with the development (i.e.
distribution lines within the development, etc.). The type of items to be included in the definition of
water facilities are storage facilities, wells, pumps, pump houses, water towers, off -site mains and
piping exceeding eighteen (18 ") in diameter.
C. Owner shall install water, sewer mains and storm water detention areas within and
upon the Property of such size and depth necessary to serve the Property. To the
extent the City requires such utilities to be larger and/or at a depth greater than that
otherwise required to serve the Property according to good and customary
engineering practices, the City agrees to allow for a recapture agreement for the
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additional or different material purchase or construction costs incurred by the Owner
for such oversized and/or deeper utilities. The certification by the Project Engineer,
or successor Project Engineer, shall include (a) a calculation of the increase in costs
incurred by Owner, based upon the difference in the bid cost for the required sized to
serve the property and the cost for the size and depth of utilities desired by the City;
(b) accompanied by evidence that such utilities have been fully paid for and are not
subject to any mechanics or other liens; and (c) a statement that all of said utilities
were constructed in a good and workmanlike manner according to the Preliminary
Plat, City Ordinance and good engineering and construction practices.
D. The City shall improve the existing Fox and Pavillion Roads and their intersection as
part of the SSA discussed in Article XVII hereof. The City Agrees to approve a recapture agreement
to be created by Owner, burdening the 22.57 acre Stephen Theis property to the East of the
Southerly parcel of the Subject Property with repayment to Owner of 43.75% (estimated at
$128,772) of the estimated $294,336.50 Evergreen Farm proportionate cost of the excess Pavillion
Road improvements, payable upon annexation of the Stephen Theis property to the City. Owner
shall not be responsible for any other related cost including that associated with a possible future
road extension/crossing of the unnamed creek to the north of Fox Road and within the Property.
ARTICLE VI
SUBDIVISION OF THE PROPERTY
Conditioned upon required public hearings and compliance by the Owner with the City's
subdivision and zoning standards the City shall be obligated to approve any preliminary plat
substantially complying with Exhibit C. No public hearing shall be required for the approval of any
final subdivision plat.
ARTICLE VU
EXCAVATION, GRADING AND PREPARATION
OF THE PROPERTY FOR DEVELOPMENT
Owner shall have the right, following Preliminary Plan approval and prior to obtaining approval of
final engineering drawings and prior to approval of a Final Subdivision Plat, to undertake demolition
of structures, excavation, preliminary grading work, filling and soil stockpiling on the Property in
preparation for the development of the Property on submittal of a grading plan and soil erosion and
sedimentation control plan to the City, which plans shall be reasonably satisfactory to the City
Engineer. Such work shall be undertaken at Owner's sole risk and without injury to the property of
surrounding property owners. The Owner shall comply with the City's Soil Erosion and Sediment
Control Ordinance.
ARTICLE VIII
BUILDING PERNUTS
The City shall issue building permits for which the Owner applies within fourteen (14) days of
receipt of application therefore or within fourteen (14) days of the City's receipt of the last of the
documents required to support such application. If the application is denied, the City shall provide
the Owner with a written statement specifying the reasons for denial of the application including
specifications of the requirements of law which the application or supporting documents fail to meet.
The City shall issue such building permits upon the Owner's compliance with those requirements.
The Owner may apply for building permits for portions of the Property after approval of the
Subdivision Plat for said portion of the Property, notwithstanding the fact that recordation of said
Plat has not yet occurred and prior to the availability of storm sewer, sanitary sewer and potable
water service to such portion of the Property. Notwithstanding the foregoing, no occupancy permits
shall be issued for such portions of the Property until the availability of such utilities is
demonstrated.
ARTICLE IX
CERTIFICATES OF OCCUPANCY
The City shall issue certificates of occupancy to the Owner within five (5) working days of
application therefore, or issue a letter of denial within said period informing Owner specifically as to
what corrections are necessary as a condition to the issuance of a certificate and quoting the section
of any applicable code, ordinance or regulation relied upon by the City in its request for correction.
Owner's inability, due to adverse weather conditions, to install driveways, service walks, public
sidewalks, stoops, landscaping and final grading, shall not delay the issuance of a temporary
certificate of occupancy. The City shall have the right to require the posting of security, on issuance
of such temporary certificate of occupancy, in order to ensure completion of such uncompleted
items. Temporary certificates of occupancy shall also not be delayed in the event adverse weather
conditions prevent construction of final surface courses on private drives.
ARTICLE X
MODELS; SALES OFFICES; SIGNAGE
Owner shall have the right, after approval by the City Engineer of the engineering relating to each
Subdivision Plat, but prior to City Council approval of any Final Subdivision Plat, to construct
model homes, sales and construction trailers, and other appurtenant facilities, including any
construction and advertising signs, and temporary sanitary facilities (i.e., holding tanks, not septic
fields) and water facilities (i.e., shallow wells) in advance of said Plat improvements and facilities
and the City's final approval thereof.
Within thirty (30) days after completion of the sanitary sewer and water systems for any portion of
the Property for which a Final Plat has been approved, Owner, at its expense, shall remove all
holding tanks and cap all shallow wells serving the model homes in said area and connect them to
the sanitary sewer and water systems serving such portion of the Property, in accordance with
applicable statute, ordinance and regulation. No occupancy permit for final residency shall be issued
for any model homes until they are connected to the public water supply and sanitary sewer systems.
Off - street parking shall be required for model homes when more than five (5) model homes are
constructed on consecutive lots in a model home row. Three (3) off - street spaces will be
required for each model home in a model home row, with combined required parking not to
exceed thirty (30) off - street spaces. A site plan showing the location of the parking areas and
walks will be submitted for review and approval by the City.
No off - street parking shall be required for individual model homes or sales trailers that are not
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part of a model home row other than the driveway for such model home /sales trailer capable of
parking three (3) cars outside of the adjacent road right -of -way. Building permits for model
homes, sales trailers and for up to fifteen (15) production dwelling units for each neighborhood
unit, shall be issued by the City upon proper application thereof prior to the installation of public
improvements (provided a gravel access road is provided for emergency vehicles and upon proof
to the City the Owner has demonstrated to the Bristol Kendall Fire Protection District fire
hydrants within 300 feet of the dwelling units are operational). A final inspection shall be
conducted prior to the use of a model home and water shall be made available within 300' of the
model home. There shall be no occupation or use of any model homes or production dwelling
units until the binder course of asphalt is on the street, and no occupation or use of any
production dwelling units until the waters stem and sanitary ary sewer system needed to service
such dwelling unit are installed and operational. Any fire hydrants that are not in service within
30 days of installation shall be marked or bagged by the Owner.
Owner may locate temporary sales and construction trailers upon the PROPERTY during the
development and build out of said property, provided any such sales trailer shall be removed
within one (1) week following issuance of the last temporary permit for the PROPERTY. A
building permit will be required by the City for any trailer that will be utilized as office space.
Prior to construction of the sales trailer Owner shall submit an exhibit of the sales trailer site
with landscaping and elevations for the City's approval.
Owner hereby agrees to indemnify, defend and hold harmless the City and the Corporate
Authorities (collectively "Indemnities ") from all claims, liabilities, costs and expenses incurred
by or brought against all or any of the Indemnities as a direct and proximate result of the
construction of any model homes or production dwelling units prior to the installation of the
public street and water improvements required to service such dwelling unit. Owner shall be
permitted to obtain building permits in the same manner for additional model homes and for
initial production dwelling units in each neighborhood as the Final Plat and Final Engineering
for each such neighborhood is approved by the City. The foregoing indemnification provision
shall, in such case, apply for the benefit of Indemnities for each phase.
ARTICLE XI
COVENANTS
Prior to issuance of any occupancy permit for any structure on the Property, except as set forth in
Article X above, Owner agrees to submit the Property to covenants for management and control of
the common area developed on the Property. A copy of the covenants will be provided to the City by
the Owner prior to their recordation.
ARTICLE XII
ANNEXATION, RECAPTURE AND EMPACT
FEES, DONATIONS AND CONTRIBUTIONS
A. City represents that no annexation fees are payable by Owner as a result of the
annexation of the Property to the City.
B. City has adopted City Ordinance No. 96 -3, last amended by City Ordinance No.
2005 -3 which establishes the City policy with respect to contributions to be made by
developers of real estate being annexed to the City to the City and School District.
Pursuant to said Ordinance, and on a per unit basis concurrent with issuance of a
building permit, Owner agrees to make the following contributions to the enumerated
units of local government having jurisdiction over the Property:
Schedule of Contributions Per Residential Unit for City and School District
Park................................... ............................... $3,000.00
School................................. ............................... 4,780.48
TOTAL............................. ............................... $7,780.48
In the event Owner independently reaches agreement with any of said units of local government
with respect to contributions, the amount set forth above shall be adjusted to reflect such agreement.
Except as set forth in this Article MI and in the Fee List in Exhibit "D" (and except for tap -on,
inspection and other fees provided for elsewhere in this Agreement), no impact fees, donations or
contributions shall be due or payable, and Owner shall not be liable for payment of any such fees,
donations or contributions, in connection with the development of the Property.
C. City warrants and represents that no recapture fees are due and payable to any person
or entity as a result of the annexation of the Property to the City or as a result of
connection to any utility improvements serving the Property.
D. In order to provide for the maintenance of the Subdivision sign age, a e, common areas
and open space, in the event the Homeowner's Association fails to so maintain,
Owner agrees to execute a consent to the creation of a dormant Special Service
Area prior to execution of the First Final Plat of Subdivision by the City; and the
City shall have approved ordinances encumbering all residential units of said
subdivision, as to common subdivision signage, storm water management or other
common areas of the subdivision.
E. In consideration for Owner's financial commitment pursuant to the terms of
Article XVII below, payment of any annexation related expenses shall be tolled
until such time as the infrastructure therein contemplated has been installed and
Owner is able to obtain to obtain building and occupancy permits applicable to
the Property.
ARTICLE XIII
SECURITY FOR LAND IMPROVEMENTS
Security to be provided by Owner for land improvements benefiting an individual phase of
development within the Property shall be provided prior to the recording of a final plat on such
individual phase and shall be in accordance with the terms of this Agreement and applicable City
ordinances, as modified by this Agreement. Owner shall provide such security in the form of a cash
escrow, bond or irrevocable letter of credit. Bonds and letters of credit shall be in a form approved
by the City Attorney and be issued by an entity approved by the Corporate Authorities. The amount
of security posted with the City shall at all times equal one hundred ten percent (110 %) of the cost of
completing required public improvements.
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Such security may be reduced by the City from time to time, as public improvements within the
Property are completed and upon recommendation by the City Engineer and prior to their
acceptance of such improvements by the City.
ARTICLE XIV
CONTINUATION OF CURRENT USES
Portions of the Property are presently being used for farming and general agricultural uses. In
reviewing the Annexation Petition and this Agreement, the City has given due consideration to the
continuation of such current uses. Accordingly, and notwithstanding any provision of the City Code,
the Zoning Ordinance, or any other code, ordinance or regulation, now in effect or adopted during
the Term of this Agreement, and notwithstanding the City's zoning of the Property pursuant to the
terms hereof, the current uses of the Property shall be permitted to continue.
ARTICLE XV
MUTUAL ASSISTANCE
A. The Parties shall do all things necessary or appropriate to carry out the terms and
provisions of this Agreement and to aid and assist each other in carrying out the terms and objectives
of this Agreement and the intentions of the Parties as reflected by said terms, including, without
limitation, the giving of such notices, the holding of such public hearings, the enactment by the City
of such resolutions and ordinances and the taking of such other actions as may be necessary to
enable the Parties' compliance with the terms and provisions of this Agreement and as may be
necessary to give effect to the terms and objectives of this Agreement and the intentions of the
Parties as reflected by said terms.
B. The Parties shall cooperate fully with each other in seeking from any or all
appropriate governmental bodies (whether Federal, State, County or local) financial or other aid and
assistance required or useful for the construction or improvement of property and facilities in and on
the Property or for the provision of services to residents of the Property, including, without
limitation, grants and assistance for public transportation, roads and highways, water and sanitary
sewage facilities and storm water disposal facilities.
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ARTICLE XVI
REMEDIES
A. Upon a breach of this Agreement, any of the Parties, in any court of competent
jurisdiction, by an action or proceeding at law or in equity, may secure the specific performance of
the covenants and agreements herein contained, may be awarded damages for failure of performance
or both, or may obtain rescission and disconnection for material failure of performance. No action
taken by any party hereto pursuant to the provisions of this Article XVI or pursuant to the provisions
of any other Article of this Agreement shall be deemed to constitute an election of remedies and all
remedies set forth in this Agreement shall be cumulative and non - exclusive of any other remedy
either set forth herein or available to any party at law or in equity.
B. In the event of a material breach of this Agreement, the Parties agree that the party
alleged to be in breach shall have thirty (30) days after written notice of said breach to correct the
same prior to the non - breaching party's seeking of any remedy provided for herein (provided,
however, that said thirty (30) day period shall be extended if the defaulting party has initiated the
cure of said default and is diligently proceeding to cure the same).
C. If any of the Parties shall fail to perform any of its obligations hereunder, and the
party affected by such default shall have given written notice of such default to the defaulting party,
and such defaulting party shall have failed to cure such default within thirty (30) days of such default
notice (provided, however, that said thirty (30) day period shall be extended if the defaulting party
has initiated the cure of said default and is diligently proceeding to cure the same), then, in addition
to any and all other remedies that may be available, either in law or equity, the party affected by
such default shall have the right (but not the obligation) to take such action as in its reasonable
discretion and judgment shall be necessary to cure such default. In such event, the defaulting party
hereby agrees to pay and reimburse the party affected by such default for all reasonable costs and
expenses (including attorneys' fees and litigation expenses) incurred by it in connection with action
taken to cure such default.
D. The failure of the Parties to insist upon the strict and prompt performance of the
terms, covenants, agreements, and conditions herein contained, or any of them, upon any other party
imposed, shall not constitute or be construed as a waiver or relinquishment of any party's right
thereafter to enforce any such term, covenant, agreement or condition, but the same shall continue in
full force and effect.
E. If the performance of any covenant to be performed hereunder by any Party is
delayed as a result of circumstances which are beyond the reasonable control of such Party (which
circumstances may include acts of God, war, acts of civil disobedience, strikes or similar acts), the
time for such performance shall be extended by the amount of time of such delay.
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ARTICLE XVH
SPECIAL ASSESSMENTS AND TAXATION
A. Establishment of Special Service Areas as the Primary Funding Mechanism for
Installation of Certain Public Improvements.
1. Owner and the City agree to establish (jointly with other owners and developers
within the area described below as the Southwest Infrastructure Developments) a special service
area ( "SSA") as a primary funding mechanism for installation of off -site public improvements,
including, without limitation, potable water, fire flow and/or water storage facilities, roads, storm
water facilities (i.e., storm water sewers, collection and conveyance improvements, detention
ponds if the y benefit off -site properties), sanitary sewer facilities and other public improvements.
2. The City and Owner shall cooperate in good faith to identify and agree on the
appropriate structure for the financing, which the City and DEVELOPER currently believe will
consist of one or more SSA's pursuant to 35 ILCS 200/27 -5 et seq., but which may be authorized
and implemented under other legal frameworks acceptable to the City and Owner. City and
Owner hereby expressly agree that the form of Special Tax or other Revenue Bond shall be (a)
the form of bond which requires an incremental payment at the time of issuance of a building
permit (otherwise known as the "pay down" bond), (b) shall not cause Owner to bear the risk of
potential default of other parties under their separate SSA's and (c) must include binding
assurances that the infrastructure improvements will be funded and completed in a manner and
time frame necessary to enable and not delay Owner's development of the Property
contemplating completion on or before July 2008.
The burden of the assessment is limited to and shall be paid by only those future property owners
within the Property and the other properties joining in the SSA for the areas generally referred to
as the "Southwest Infrastructure Developments" described in Section B of this Article.
B. Cross Contingencies for Infrastructure Improvements, (the "Southwest
Infrastructure ").
1. Cross Contingencies. Owner and City agree that the terms and conditions of this
Annexation Agreement shall be cross contingent with the City's approval of Annexations with 5
Developments commonly referred to as the "Southwest Infrastructure Developments." A list of
the developments and the anticipated funding required on behalf of each of the developments is
attached hereto as Exhibit BBB. These developments are related in that they all will derive
special benefit from infrastructure improvements to be financed through the issuance of Revenue
Bond(s) payable from special taxes levied in one or more special service areas to fund the
extension of infrastructure to and through the developments.
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2. SSA Funding. Upon all Southwest Infrastructure Developments entered into
individual annexation agreements, City and Owner agree to establish a Special Service Area
(SSA's) within the Property and City agrees to concurrently establish SSA's within each of the
subdivisions listed on Exhibit BBB. (A preliminary term sheet for the anticipated Special Tax
Bond is attached hereto and incorporated herein as Exhibit "CCC ") City shall then take action to
issue Special Revenue Bonds in and amount sufficient to fund the infrastructure extension by
January 15, 2007 otherwise the Owner and other owners and developers comprising the
Southwest Infrastructure Developments shall have right to terminate the SSA as it applies to
their separate developments. OWNER shall have the right to on of narticinatine in he SSA
by nroviding written notice to the CITY of its intention to indenendentiv fund OWNER'S oro
rata share of the infrastructure t costs as set firth nn Exhib "AAA -2" Writte
notice of OWNER'S intent to ont -out of the SSA must be nrovided in accordance with the
Notice nrovisions of this A ereement and b h' . QQ days nrior to (i) January 15. 200 or (ii)
ac tual issuance of the bond(s) whichever is later, MIERW a v its pro rata share of the
.eta no later than the date of the bond issuanc in-re l ily availabl funds. OWNER'S failure to
provide notice within the reonir .rl time ne be dmned to b its consent t o participate in
the SSA.
The formation of The SSA's and issuance of Special Revenue Bonds are intended to
render the following results:
a. All areas will be within the Special Tax areas, and all real property will become
subject to the Special Tax. It is anticipated that each development will enact an individual
Special Tax Area, and that all Special Tax Areas will issue one mutual Special Tax Bond for
payments of the improvements.
b. The special tax shall be available to fund the repayment of up to $_(this will be the
pro rata amount owed by this development) million in special tax bonds.
c. The special tax revenue bonds shall be used to construct infrastructure as described
on Exhibit "AAA" as further defined and set forth in the conceptual and preliminary engineering
for those improvements dated (EEI) and (Duechler)
C. Cost Containment and Overruns. In order to reduce the risk of cost overruns, Owner
agrees that the amount of bonds sold should be determined by estimates based upon either final,
or near final engineering or bids. Since final engineering must be complete prior to seeking bids,
Owner agrees to front fund the amount indicated on Exhibit "BBB" and to receive
reimbursement for said sum from the sale of the Revenue Bonds. Owner shall be allowed to
comment regarding the determination of the amount of bonds sold, and the amount of
contingency for cost overruns. City will respond in writing to Owner's comments and explain
the reason for said overruns, if any. In the event the cost to complete the Southwest
Infrastructure exceed the amount of the Bonds, Owner shall be responsible for contribution,
based upon the same ratios and rational used in Exhibit "AAA ", but only as to its proportionate
share of a total cost overrun capped at $1,000,000.00.
� W
D. PROCEEDS OF BONDS TO BE USED TO EXTEND GREEN BRIAR DRIVE. OWNERS
and/or DEVELOPER agrees that traffic ultimately originating from this development, as well as
all "Southwest Infrastructure Developments" will give rise to the need for the Green Briar Drive
extension to Pavillion Road. One of the first uses of the Special Tax Bonds shall be the
acquisition of right -of -way of the Green Briar Drive Extension. The City deems the construction
of Green Briar as a high priority and agrees to proceed with construction as funding is available.
Owner's and/or Developer's payments hereunder shall be deemed its sole obligation toward the
cost of constructing Green Briar Road and no future tax or assessment of any kind shall be place
either against the Property or Owner and/or Developer to fund such construction. In addition,
OWNER'S and /or DEVELOPERS agree to route all construction traffic over 8000 lbs. GVAW
along state Route 71 to Pavillion or High Point Road and then to the development, and not allow
such heavy construction traffic to travel along Fox Road from Rt 47 to the development.
E. RECAPTURE/RECOVERY OF INFRASTRUCTURE IMPROVEMENTS,
The CITY shall, in accordance with Chapter 65, Section 5/9 -5 -1 et.seq. of the Illinois Comniled
Statutes. 2002 Edition, enter into agreements for recapture /recovery ( "Recapture/Recovery
Agreement ") with DEVELOPER providing for the recapture /recovery by DEVELOPER of a
portion of the cost of certain improvements as identified on Exhibit "AAA ". constructed by
DEVELOPER which the CITY has determined may be used for the benefit of property
( "Benefited Property ") not located within the Subject Property which connect to said
improvements. The Benefited Property is identified on said Exhibit "DDD" attached hereto.
Each Recapture Agreement shall be substantially in the form as attached hereto and made a part
hereof as Exhibit "EEE ".
ARTICLE XVIII
TERM
This Agreement shall be binding upon the Parties and their respective successors and assigns
for twenty (20) years, commencing as of the date hereof, and for such further term as may
hereinafter be authorized by statute and by City ordinance. If any of the terms of this Agreement, or
the annexation or zoning of the Property, is challenged in any court proceeding, then, to the extent
permitted by law, the period of time during which such litigation is pending shall not be included in
calculating said twenty (20) year period. The expiration of the Term of this Agreement shall not
affect the continuing validity of the zoning of the Property or any ordinance enacted by the City
pursuant to this Agreement.
ARTICLE XIX
MISCELLANEOUS
A. Amendment. This Agreement, and the exhibits attached hereto, may be amended only by
the mutual consent of the Parties, by adoption of an ordinance by the City approving said
amendment as provided by law and by the execution of said amendment by the Parties or
their successors in interest.
B. Severability. If any provision, covenant, agreement or portion of this Agreement or its
application to any person, entity or property is held invalid, such invalidity shall not affect
the application or validity of any other provisions, covenants or portions of this
Agreement, and to that end, all provisions, covenants, agreements and portions of this
Agreement are declared to be severable. If for any reason the annexation or zoning of the
Property is ruled invalid, in whole or in part, the Corporate Authorities, as soon as
possible, shall take such actions (including the holding of such public hearings and the
adoption of such ordinances and resolutions) as may be necessary to give effect to the
spirit and intent of this Agreement and the objectives of the Parties, as disclosed by this
Agreement, provided that the foregoing shall be undertaken at the expense of the
Developer.
C. Entire Agreement. This Agreement sets forth all agreements, understandings and
covenants between and among the Parties. This Agreement supersedes all prior
agreements, negotiations and understandings, written and oral, and is a full integration of
the entire agreement of the Parties.
D. Survival. The provisions contained herein shall survive the annexation of the Property and
shall not be merged or expunged by the annexation of the Property to the City.
E. Successors and Assigns. This Agreement shall inure to the benefit of, and be binding
upon, successors of the Owner and Developer and their respective successors, grantees,
lessees, and assigns, and upon successor corporate authorities of the City and successor
municipalities, and shall constitute a covenant running with the land. This Agreement
may be assigned without City approval, and upon said assignment and acceptance by an
assignee, the assignor shall have no further obligations hereunder. If a portion of the
Property is sold, the seller shall be deemed to have assigned to the purchaser any and all
rights and obligations it may have under this Agreement (excluding rights of recapture)
which affect the portion of the Property sold or conveyed and thereafter the seller shall
have no further obligations under this Agreement as it relates to the portion of the
Property conveyed.
F. Within 30 days of a written request from the United City of Yorkville, which includes
legal descriptions and exhibits as necessary, the Owner shall grant permanent and
temporary construction easements within the current or future City or county rights of
way as necessary for the construction of extension of City utilities and appurtenances
and/or other utilities to serve the subject property and other properties within the City
of Yorkville.
G. Within 30 days of a written request from the United City of Yorkville, which includes
legal descriptions and exhibits as necessary, the Owner shall convey by Warranty
Deed, fee simple title of future highway or road right of way to the United City of
Yorkville as necessary to comply with the terms of this Agreement. Such request for
conveyance of right of way shall have no impact on any previously entitled land
development density or lot configuration.
H. Notices. Any notice required or permitted by the provisions of this Agreement shall be in
writing and sent by recognized overnight courier or personally delivered, to the Parties at
the following addresses, or at such other addresses as the Parties may, by notice,
designate:
If to City: United City of Yorkville
800 Game Farm Road
Yorkville, Illinois 60560
(630) 553 -4350 Fax (630) 553 -7575
Attention: City Administrator
If to Owner: EVERGREEN FARM ESTATES LLC c/o
Tanglewood Real Estate Development Corporation
1 N 303 LaFox Road
P. O. Box 139
LaFox, Illinois 60147
(630) 761 -2010 Fax (630) 761 -0038
With a copy to: John P. Martin
Huck Bouma PC
1755 South Naperville Road, Suite 200
Wheaton, Illinois 60187
(630) 221 -1755 Fax (630) 221 -1756
Notices shall be deemed given on the second (2' business day following delivery by
overnight courier and upon receipt, if personally delivered.
I. Time of Essence. Time is of the essence of this Agreement and of each and every
provision hereof.
J. City Approval. Wherever any approval or consent of the City, or of any of its
departments, officials or employees, is called for under this Agreement, the same shall not
be unreasonably withheld or delayed.
[Signature Page Follows]
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date first
above written and, by so executing, each of the Parties warrants that it possesses full right and
authority to enter into this Agreement.
CITY:
UNITED CITY OF YORKVILLE, an Illinois
municipal corporation
By:
ayor
ATTEST: (� r1
CI U k
OWNER:
EVERGREEN FARM ESTATES LLC,
By:
Its:e /��,y
Attest: -,�ct, `"'q tlfe— 6 ._J -
Its: &C n o +O-
STATE OF ILLINOIS )
SS.
COUNTY OF Xenda // )
I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO
HEREBY CERTIFY THATAelwua F. P 9mM,5X,4 , Tf - personally known to me to be the Mayor
of the United City of Yorkville, an Illinois municipal corporation and JA(2auEc yam/ A�1iC5�' +f���sK/
personally known to me to be the City Clerk of said municipal corporation, and personally
known to me to be the same persons whose names are subscribed to the foregoing instrument,
appeared before me this day in person and severally acknowledged that as such Mayor and City
Clerk, they signed and delivered the said instrument and caused the corporate seal of said
corporation to be affixed thereto, pursuant to authority given by the Board of Directors of said
corporation, as their free and voluntary act, and as the free and voluntary act and deed of said
corporation, for the uses and purposes therein set forth.
Given under my hand and notarial seal, -' day bf O�Q�� , 2006.
Noz Public
www�rw
OFFICIAL SEAL
LISA PICKERING
NOTARY PUBLIC - STATE OF ILLINOIS
W COWASSION EXPIRES:12N3108 ,\
�C N
STATE OF ILLINOIS )
SS.
COUNTY OF )
I, the undersigned, a Notary Publjicpij and for said County, in the State aforesaid, DO
= Y CERTIFY THAT O personally known to me to be the
of Tanglewood Real Estate Development Corporation, an Illinois corporation and
personally known to me to be the same person whose name is subscribed to the foregoing
instrument, appeared before me this day in person and severally acknowledged that as such
Managing Member he signed and delivered the said instrument pursuant to authority given by
Members of the company, as his free and voluntary act, and as the free and voluntary act and
deed of said company, for the uses and purposes therein set forth.
Given under my hand and notarial seal, this � ' day o , 200&
. J
Not Public
CONSENT OF MORTGAGEE
Bank, a(n) organized and
existing under the laws of the State of , holder of a Mortgage dated _
and recorded as Document Number ,
covering the subject property, hereby consents to the execution and recording of the within
Annexation Agreement and agrees that said Mortgage is subject and subordinate thereto.
IN WITNESS WHEREOF, the Bank has caused this instrument to
be signed by it's duly authorized officers on its behalf at , Illinois, on this
day of , 2006.
Bank
By:
Its:
ATTEST:
By:
Its:
SCHEDULE OF EXHIBITS
i
Exhibit A: Legal Description
Exhibit B: Plat of Annexation
Exhibit C: Concept Plan
Exhibit D: Development Fee List
AAA. Overall Infrastructure Funding Summary
BBB. Front Funding Distribution Summary
CCC. SSA Summary of Terms
DDD. Recapture/Recovery Area Benefited Property
EEE. Recapture/Recovery Agreement
- EXHIBIT A ALTA CoMmitment
Schedule C
File Na, :NCS- 74205 -CHIT
Legal Description:
THAT PART OF SECTION 6, TOWNSHIP 36 NORTH, RANGE 7 EAST OF THE THIRD. PRINCIPAL MERIDIAN
DESCRIBED BY COMMENCING AT THE NORTHEAST CORNER OF THE NORTHWEST QUAR'T'ER OF SAID
SECTION 6; THENCE WEST 233.9 FEET ALONG THE NORTH LINE OF SAID SECTION 6 TO THE
SOUTHEASTERLY LINE OF THE RIGHT- OF-WAY OF THE CHICAGO, BURLINGTON & QUINCY RAILROAD
COMPANY; THENCE SOUTH 61 06' 20° WEST ALONG SAID RIGHT- OF-WAY LINE 1488.52 FEET FOR A
POINT OF BEGINNING; THENCE SOUTH 01 28' 38" EAST 406.94 FEET; *ENCE SOUTH 25 10"
EAST 1326.82 FEET; THENCE SOUTH 24 OS 33" EAST 587.67 FEET; THENCE SOUTH 66 4Y 42" WEST
1560.96 FEET TO THE CENTER LINE OF A GRAVEL ROAD; THENCE NORTH 22 40" WEST ALONG
SAID CENTER LINE 1258.64 FEET; THENCE NORTH 06 10" WEST ALONG THE CENTER LINE OF
SAID GRAVEL ROAD 250.27 FEET TO THE CENTER LINE OF FOX ROAD; THENCE SOUTH 63 42' 50"
WEST ALONG THE CENTER LINE OF FOX ROAD 4337 FEET; THENCE NORTH 08 38' 52" WEST.676.69
FEET TO THE AFORESAID SOUTHEASTERLY RIGHT-OF-WAY LINE; THENCE NORTH 61 OG 20" EAST
ALONG SAID RIGHT -OF-WAY LINE 1431.91 FEET TO THE POINT OF BEGINNING IN KENDALL
TOWNSHIP, KENDALL COUNTY, ILLINOIS, EM PTING THEREFROM THE SOUTHEASTERLY 350.0 FEET
OF THE SOUTHWESTERLY 469.81 FEET THEREOF AND ALSO EXCEPTING THEREFROM THE FOLLOWING
PARCEL OF PROPERTY, FROM THE POINT OF BEGINNING AFORESAID; THENCE SOUTH 01 28' 38"
EAST 406.94 FEET; THENCE SOUTH 25 10" EAST 305.69 FEE=T TO THE CENTER LINE OF FOX ROAD
FOR A NEW POINT OF BEGINNING; THENCE SOUTH 25 ion EAST 1021.13 FEET; THENCE SOUTH
24 50' 33" FAST 587.67 FEET; THENCE SOUTH 66 4S 42" WEST 625.43 FEET; THENCE NORTH 25
19' 10" WEST 1540.44 FEET TO SAID CENTER LINE OF FOX ROAD; THENCE NORTH 53 42' So" EAST
ALONG SAID CENTER LINE 630.0 FEET TO THE POINT OF BEGINNING IN KENDALL TOWNSHIP,
KENDALL COUNTY, ILLINOIS.
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� = _ TOTAL $IfE AREA. $IAaon
3fK7 ACRES
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OIPOSS DENSITY 1.33 UPMIACRE
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LN I TOTAL 81REET AREA }QOM 9F
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R E V I S I O N S CONCEPT EVERGREEN FARM Craig R Xhoche & Associates • •°.v.1N� c"-O—
J +�;0� OWNEII I • «x/AE V .
z s PER I FOX & PAVILLION ROAD CROSSING CfviC�ngineers, P.C.
+ 7(/210.31 PER PER OWNER �� SITE PLAN YORKVILLE, ILLINOIS �m- w•u•^R•f�• /� �'' 0171 1 1 * °
Na DALE /O E OLswwRON I NOt M7E OESGWPIIe1 - -
i
EXHIBIT D
Name of Fee Amoun Time of Pavmenis
1 School District Transition Fee 1$3,000 per unit Paid to School District Office prior to application for building permit
At time of building permit, paid at City Hall with separate check made out to
2 Yorkville Bristol Sanitary District Connection Fee $1,400 per unit YBSD
3 Yorkville Bristol Sanitary District Annexation Fee $3,523 per acre Paid for entire development, at time of annexation to sanitary district
Yorkville Bristol Sanitary District Infrastructure
4 Fee 1$3,523 per acre PAID BY SPECIAL TAX PROCEEDS
$650 + $.0.20 per
5 Building Permit Fee square foot Building Permit
F-Water Connection Fee $3,700 per unit (PAID BY SPECIAL TAX PROCEEDS
7lWater Meter Cost (not applicable to fee lock) 1$390 per unit iBuliding Permit
81City Sewer Connection Fee $2,000 per unit (PAID BY SPECIAL TAX PROCEEDS
9lWater and Sewer Inspection Fee 1$25 per unit IBuilding Permit
10I Public Walks and Driveway Inspection Fee 1$35 per unit IBuilding Penult
11a1Pubiic Works (Development Impact Fee) 1$700 per unit IBuilding Permit
11 blPolice (Development Impact Fee) 1$300 per unit 113uiiding Permit
Municipal Building Fee is set up as $5,509 per unit if paid at time of permit,
or $3,288 per unit If paid In a lump sum for all residential units at the time of
see "time of final plat approval or within 90 days of when all City infrastructure Is
11c Municipal Building (Development Impact Fee) payment" lavallable to the development, whichever Is later.
11dlLibrary (Development Impact Fee) 1$500 per unit (Building Permit
11elParks and Rec (Development Impact Fee) 1$50 per unit IBullding Permit
11JEngineering (Development Impact Fee) 1$100 per unit IBuilding Permit
11g1 Bristol Kendall Fire District (Development Impact
Fee) 1$1,000 per unit IBuilding Permit
(Calculated by lagreement ordinance, $80,000 Building Permit or Final Plat, depending on annexation /development
12 Parks Land Cash Fee per acre and land /cash donations negotiated
Calculated by
1 lordinance, $80 ,000 Building Permit or Final Plat, depending on annexation /development
13 School Land Cash Fee per acre agreement and land /cash donations negotiated
141Road Contribution Fund 1$541 per unit 1$1,459 (per unit) PAID BY SPECIAL TAX PROCEEDS
$875 per unit,
escalating each
calendar year at a
rate determined by
15 County Road Fee ordinance $674 (per unit) PAID BY SPECIAL TAX PROCEEDS
161Weather Warning Siren $75 per acre IFinal Plat
1.75% of Approved
Engineer's
Estimate of Cost of
Land
17 Administration Review Fee Improvements Final Plat
1.25% of Approved
Engineer's
Estimate of Cost of
Land
18 Engineering Review Fee Improvements
9 9 Final Plat
�C
Exhibit AAA -1: Overall infrastructure Funding Summary 812M
SW INFRASTRUCTURE FUNDING
United City of Yorkville, Kendall Co., IL
Total
Construction Engineserin$ Total Front
Estimate Preliminary Des Construction Subtotal Cost Funding
i
F.1 -Well No. 13 $ 704,000 $ - $ 40,000 $ 62,0001$ 102,()00 $ 806,000 S 40,000
F.2 - Well No. 13 WTP $ 2,893,880 $ - $ 190,000 $ 175,000 $ 365,000 $ 3,258,880 $ 190,000
F.3 - Green Briar Drive Water Main Extend $ 591,375 $ - $ 44,353 $ 44,353 $ 88,706 $ 680,081 $ 44,353
F.4 - 2.0 MG EWST $ 3,564 $ - $ 105,000 $ 116,500 $ 221,500 $ 3,785,500 $ 105,000
F.5 - SP/PRV Station (Chally Farm) f 500,500 $ - $ 40,000 $ 35,000 $ 75,000 $ 576,500 $ 40,000
Additional Consultation, Surveying 8t Testinv $ - $ - $ 70,000 $ - $ 70,000 $ 70,000 $ 70,000
Water Subtotal: $ 8,253,755 $ - $ 469,353 1 $ 432,853 $ 922,206 $ 9,175,961 $ 489,353
Green Briar Road R.O.W. Acquisition $ 672,000 $ 20,000 $ - $ - $ 20,000 $ 692,000 $ 20,000
F.8 - Fox Road Resurtacinp $ 504,260 $ - $ 30,0001s 40,000 $ 70.400 $ 574,280 $ 30,000
Pavlllion Road Improvements $ 1,187,549 $ - $ 95,004 1 $ 95,004 $ 190,008 $ 1,377,557 $ 95,004
Additional Consultation, Surveying & Testing $ - $ 510001$ 10,0001$ 47,502 $ 62,502 $ 62,502 $ 15,000
T rtation Subtotal: $ 2,363,809 $ 25,000 $ 135,0041$ 182.5081$ 34Z51 0 $ 2,706 319 ffi 160,004
Contract No. 1 & 2 $ 6,161,080 $ - $ 325,0001$ 341,500 $ 5,827,580 $ 325,000
Sanitary Sewer Subtotal: $ 5,161,080 $ - $ 325,000 $ 341.600 $ 5,827,580 $ 326,Q0()
SW Planning Area Stormwater Study $ - $ 33,8001$ - $ - $ 33,800 $ 33,8001$ 33,800
Stormwater Subtotal: $ - $ 33.8001$ -1 $ - $ 33,800 $ 33,800 $ 33,800
k TAL (Water, Trans., Sari., & Storm): $ 15 $ 58,800 1 $ 949,357 + $ 956.859 $ 1 1 965 1 76 $ 17743660 $ 1008157
,,�008�,
G'VVu %y0*wdb=WW0602 FOX Rwd ktwSyst -m F�dan- "nhnaPA WEnOMMTab[nWVOMB and OB.wcar FmdnMl CVWQPU iFWK tpsummrr(MMBawcny F-Akoids miMsum
ENGINEERING ENTERPRISES, INC.
g SUGAR GROVE, IL
Exhibit AAA - 2: Funding Distribution Summary 8131/06
SW INFRASTRUCTURE FUNDING
United City of Yorkville, Kendall Co., IL
}yINF,11AS.791JO.' URE7Mi NDIN.GZSIJMM/1Rx�1
4i_ • _ t�.k...sW'.vr...JT..i tiFY.M,v,�t6� v YJ � .. .�'�•e��„
Total Single Water Impr. Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL
Family Dwelling Density Percent of Subtotal Cost / Subtotal Cost / Subtotal Cost / Subtotal Cost / Total Cost I _
Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost D.U. Cost D.U. Cost D.U. Cost D.U. Cost D.U.
United City of Yorkville -- -- -- -- $ 1,990,881
-- - - - $ 1,990,881
Silver Fox 103 172 1.67 19.7% $ 1,412,381 $ 8,212 $ 441,364 $ 2,566 $ 1,064,910 $ 6,308 $ 5,691 $ 33 $ 2,944,346 $ 17,118
Evergreen Farm 49 77 1.57 8.8% $ 632,287 $ 8,212 $458,488 $ 5,954 $ 496,339 $ 6,446 $ 2,715 $ 35 $ 1,589,830 $ 20,647
spen Ridge Estates 126 217 1.72 24.8% $ 1,781,900 $ 8,212 $756,945 $ 3,488 $ 1,356,178 $ 6,250 $ 6,982 $ 32 I $ 3,902,005 $ 17,982
Chally Farm 154 224 1.45 25.6% $ 1,839,381 $ 8,212 $ 574,799 $ 2,566 $ 1,484,251 $ 6,626 $ 8,533 $ 38 I $ 3,906,964 $ 17,442
York Wood Estates 178 I 185 1.04 21.1% $ 1,519,131 $ 8,212 $ 474,723 $ 2,566 $ 1,405,901 $ 7,599 $ 9,880 $ 53 I $ 3,409,635 $ 18,430
Total 610 I 875 I 1.43 100.0% $ 9,175,961 - $ 2,706,319 -- $ 5,827,580 -- $ 33,800 u -- I $ 15,752,779 --
W - MOUMI RECAPTURE/ RECUVERY. OR- ADDITIONAUF :EES'(NEGAT.IVENUMBER)SUMMAR
Total Single Water Impr. Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL
Family Dwelling Density Percent of Subtotal Cost/ Subtotal Cost/ Subtotal Cost/ Subtotal Cost) Subtotal Cost/
Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost D.U. Cost D.U. Cost D.U. Cost D.U. Cost D.U.
United City of Yorkville -- - -- -- $ 1,990,881 - - - - - $ 1,990,881
Silver Fox 103 172 1.67 19.7% $ 775,981 $ 4,512 $ (18,436) S (107) $ 379,098 $ 2,204 $ $ $ 1,155,079 $ 6,716
Evergreen Farm 49 77 1.57 8.8% $ 347,387 $ 4,512 $ (41,689) $ (541) $ 169,712 $ 2,204 $ $ $ 517,099 $ 6,716
spen Ridge Estates 126 217 1.72 24.8% $ 979,000 $ 4,512 $ (117,488) $ (541) S 478,280 $ 2,204 $ $ $ 1,457,280 $ 6,716
[Ch.ily Farm 154 I 224 1.45 25.6% $ 1,010,581 $ 4,512 $ (24,010) $ (107) $ 493,709 I $ 2,204 $ $ $ 1,504,289 $ 6,716
ork Wood Estates 178 I 185 1.04 21.1% $ 834,631 $ 4,512 $ (19,829) $ (107) $ 407,751 I S 2,204 $ $ $ 1,242,382 S 6,716
Total 1 610 I 875 1.43 100.0% $ 5,938,461 -- $ (221,451) - $ 1,928,550 I -- $ $ I $ 7,867,011 -
5"s U�� r "'x' ?:• r'':' ! '•• ": TOTAL' ?F.. IXED INFRASTRUGT ;UREFUNDING`SUMMARY INFRASTRUCTURE 'FUNDING'?= MAXIMUM' RECAPTURE /RECOVERYI, MOUNIYKe >FN',,;= :`r'."' :'':.::,'•: r,.;�zs
Total Single Water Impr. Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL
Family Dwelling Density Percent of Subtotal Cost/ Subtotal Cost/ Subtotal Cost l Subtotal Cost/ Subtotal Costl
Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost D.U. Cost I D.U. Cost D.U. Cost D.U. Cost D.U.
United City of Yorkville -- -- - -- $ _ _ _. _ _ $
Silver Fox 103 172 1.67 19.7% $ 636,400 $ 3,700 $ 459,800 $ 2,673 $ 705,812 S 4,104 S 5,691 3 33 $ 1,807,702 $ 10,510
Evergreen Farm 49 77 1.57 8.8% $ 284,900 $ 3,700 $ 500,177 $ 6,496 $ 326,627 $ 4,242 S 2,715 S 35 $ 1,114,419 $ 14,473
spen Ridge Estates 126 217 1.72 24.8% $ 802,900 $ 3,700 S 874,433 $ 4,030 $ 877,898 $ 4,046 $ 6,982 S 32 $ 2,562,212 $ 11.807
Chally Farm 154 224 1.45 25.6% S 828,800 $ 3,700 S 598,809 $ 2,673 $ 990,542 $ 4,422 $ 8,533 $ 38 S 2,426,684 S 10,833
York Wood Estates 178 185 I 1.04 21.1% $ 684,500 $ 3,700 $ 494,552 $ 2,673 $ 998,151 $ 5,395 $ 9,880 S 53 S 2,187,082 $ 11,822
Total 610 875 I 1.43 100.0% $ 3,237,500 -- S 2,927,770 - S 3,899,030 -- S 33,800 $ 7,885,768 --
G:Wub1icgYarWi11@2M11Y00103 Fox Rwd NOtsr Sys.. umrlve
m Eabr�on Nulyaiv�Er,p155A T�Wn�Wwhpo�nl Fvgnp Sy (W OP -PRV R- pr).alQ0- 8- Notes•
The acreage and unit counts are estimates; Once the final acreage and unit counts have been established, the calculation methodology will be reran and the values will be adjusted accordingly.
ENGINEERING ENTERPRISES, INC.
SUGAR GROVE, IL
Exhibit AAA - 3: Water Works System Improvements Funding Distribution e131=
SW INFRASTRUCTURE FUNDING
United City of Yorkville, Kendall Co., IL
WATER DISTRIBUTION FUNDING SUMMARY
Total Single Water Dlstr. Wate Additional Supply, Total Fees Water
Family Density Percent of Funding Connection Fee Treatment 6 Storage For Water Improvement
Funding Entity Acreage Units (DU) (DU /Acre) Total DU At $1,435/ DU At $3,7001 DU At $3,077 / DU Improvements Cost per DU
United City of Yorkville - - - - - - - $1,990,881 -
Silver Fox 103 172 1.67 19.7% $246,811 $636,400 $529,170 $1,412,381 $8,212
Evergreen Farm 49 77 + I 1.57 818% $110.491 $284,900 $236,896 $632,287 $8,212
As pen Ridge Estates 126 217 t 1.72 24.8% $311,384 $802,900 $667,616 $1.781,900 $8,212
ChalIv Farm 154 224 I 1.45 25.6% $321,429 $828,800 $689,152 $1,839,381 $8.212
Y ork Wood Estates 178 185 1.04 21.1% $265,466 $684,500 $569.166 $1,519,131 ° $8,212
Total IAverage 610 675 1.43 100.0% $1,255,581 $3,237,500 $2,691,999 $9,175,981 -
MUP. Wie lYa kv1WOUtY0010 ! Fas R.d W.W, Sri. E.b-i- MIyW1&,;1 A Fu,dgS -W aP.PRV R�epl)sI�jAYbr
POTENTIAL MAXIMUM RECAPTURE /RECOVERY AMOUNT SUMMARY
Less Water Less Maximum Recovery Total Single Recovery Maximum
Off -site Water Main Project / Total Conn. Fee City Recoverable per Family per Recoverable
Infrastructure Item Project Cost At 3,7001 DU Conlin Amount (Dev.) D.U. Development Units (DU) D.U. Amount
W ell No. 13 $806,000 United City of Yorkville - - $1,990,881
W ell No. 13 WTP $3,298,880 Silver Fox 172 $4,512 $775,981
2. 0 MG EWST $3,815,500 Evergreen Farm 77 $4,512 $347,387
upply, Treatment, 6 Storage Subtotal: $7,920 $3,237,500 $1,990,881 $2,691,999 $3,077 Ridge Estates 217 $4,512 $979,000
Green Briar Road WM $680,081 - $680,081 $777 [p,n
ally Farm 224 $4,512 $1,010,581
BP / PRV Station $575,500 - $575,500 $658 rk Wood Estates 185 $4,512 $834,631
Distribution Subtotal: $1,255,581 - $1,255,581 $1,435 Total i Averaqel 875 $4,512 $5,938,461
Total: $9,175,961 $3,237,500 $1,990,881 $3,947,580 $4,512
ENGINEERING ENTERPRISES, INC.
SUGAR GROVE, IL
Exhibit AAA - 4 : Transportation Improvernvnts Funding Distribution azaoe
SW INFRASTRUCTURE FUNDING
United City of YcrWft, Kendal Co., IL
TRANSPORTATION FUNDING SUMMARY
Transportation Transportation
Total Single Density Percent of Infrastructure Fee Improvement
undlnii Entlhl Acres" Family Units (DU) (DWAcrol Total DU At $2.000 / DU Cost per DU
lver Fox 109 172 1.87 19.7% $44
3.000 $2,000
Farm 49 77 1.67 8.$% $154,000 $2,000
Rldas Estates 126 217 1.72 24.8% $434.000 $2.000
Inv Form 194 224 IAS 25.6% $448.000 $2,000
C rk Wood Estates 178 186 1.04 21.1% $370,000 1 $2,000
Total IAverage 810 873 1.43 100.0% S1 „750.,600 1 —
Q:W�lA,M'O�kraM7a0e�OW02 A*F wriNr syWmEklenbn+wMxnEngnee4r ewhAlo+Ae ek®- WCry6WWA0evuow..M runluq sunmrr M'a Meiwary wndNgl tmpr�nNedsN,”
POTENTIAL MAXIMUM RECAPTUREIRECOVERY AMOUNT SUMMARY
Parson Of Remaining
Transpor. Transpor. Fees Total Single Remaining Remaining
Transportation Total Impact Fee Impact per Family Dwelling Fees Transpor. Impact
Improvement prolet:t Cost At 2.0001 DU Fee D.U. Development Units (DU) perDU Fees
Green [Briar Road R.O.W. Aca. $702.000 — — _ Silver Fox 172 ($107) ($18,496)
Fox Road Reaurfadrh3 $574,260 — _ .. Evergreen Farm 77 (96411 ($41.689)
ublotal: $1278.280 $1,278200 — $1.468 Aspen Ridge Estates 217 (3541) ($117,488)
PavllfardFox Road Imorovements: 51,430,059 — _ .- Chaly Farm 224 ($107) ($24,010)
County Impact Fee Contribution: (8589,097) York Wood Estates 185 {$107) 41918291
avullon Local Funding Subtotal: $&t AW -• — — Total: 878 — 1$221,4811
avilon Road (30% Realonal Share) $2SZ289 $292.289 .. $434
vilort Road (70% Adleeent Share) $588 I _ .-
- !Iilvsr.chw.YOM: i1.0.�19725 1 $1,162.000 I (382,278 (9107) JUT
Olt Gloom "U'000 ($1174881 ($5411
99kis
70% of the Pavliflon Road Improvement am Is applied to Aspen Ridge and Evergreen Farms; 30% (assumed regional portion of the improvement) It applied to the remaining subdivisions
It is assumed Evergreen Farm and Aspen Ridge do not recover doles from their Pavilion Road Investment
Of tour legs or the Pavilion Road Improvement with reference to the Fox and Pavilion Intersecdon, the cost breakout for the 70% of the total portion that is applied to Evergreen Fames and Aspen Ridge
a sot 10001 a: North and East- 1 00% Evergreen Farms. Weal -100 %Aspen Ridge, South - SO% each
-The total cost for the regional (Non -County Impact Fee eligible) improvements Is less than the total amount of money that wll be collected for the SZOW I D.U. impact fee: The remaining portion of the impact fee ell be due
at building permit.
-
Since Evergreen Farm and Aspen Ridge are not funding the 'Regional Share" or PeAllon Road (they are funding the adjacent share), their transportation Impact fee does riot count against that portion or the improvement
Iv
r)
C..' EMNEERIN ENTERPRISES. INC.
SUGAR GROVE, Ili
Exhibit AAA - 5: Sanitary Conveyance Improvements Funding Distribution canoe
SW INFRASTRUCTURE FUNDING
United City o(YaAiWlle, KwWae Co., IL
SANITARY CONVEYANCE FUNDING SUMMARY
YBOD Clb Additional Total Fees Sankary
TOW aftle Density Percent of Infrastructure Fee Connection Fee Funding Required For Sanitary improvement
�.8
undln0 Entlty Acreage FamBy Units IDU) (DWAae► Total DU At 59,523 /Acm At 52,0001 Un1t At 52 DU improvsmsnm Cost wDU
Fax 103 i 172 1.87 19.756 $361,812 8344,000 1.3!9,088 81,084,910 w
EvaramwFarm 49 ! 77 1.57 8.8% $172827 � $164,000 51 MOPS 6 SSA46
RWOa Estates 126 217 1,12 74.6% $443,898 $434,000 + 8478,280 81,368.178 t6,26D
hWWFwm 154 224 1.45 25.6% 5542S42 5448.000 I 84 .709 $1.484251 Wim
orkWaadEatifes 170 195 1.04 ++ 21.1% $826,151 y � 837Q,000 +� 9407,751 81.405801 $7,688
'rotallAvorspel 810 075 11,43 I 100A% $2. 149=0 1 $1,760,000 I 81.948.830 16,827.680
amwrNrmk+ mis�onronazpaeRe. ewer�9r. umF. a�M. yt, �engisear. nrwwwuss+ ew. wcban+ ty40�wrew�w +Fwaxoeomn.nMmueswurFu�oimle+�r �eswetywwxylwl�.w �.�ntw
POTENTIAL MAXIMUM RECAPTURE AMOUNT SUMMARY
Estimated Less Less Maximum Recovery TOM Single Recovery Maximum
Sanitary IMemeptor project YBSD Infr. Fee City Conn. Fes Recoverable per Family DsIMBne per Recoverable
Contract Cost At $3,523 f Acre At $2,0001 DU Amount D.U. Development Units (DU) D.U. Amount
Contract NOS. i + 2 $S 827.580 $2149.030 $1.7KOW $1.938.560 SZ204 Silver Fox 172 $2.204 $379.098
Total I Avereps 96827,680 52.149,090 $1,750466 $1.828,550 U2" Evemrow Fawn 77 52.204 $189,712
F en Ridoe Estates 217 52204 $478.280
Chelb Fenn 224 $2,2D4 $493,709
ark wood Estates 186 $2,204 $407.751
TOW /Avers" 67S — 31425,660
Iv
SU ENQUIEEFUlO ENTERGRA, W IM.
GAR GROVE. L
Exhibit BBB: Front funding Distribution Summary
SW INFRASTRUCTURE FUNMNG
United CRY of ftblle, Kendall Co., IL
T'ofel single Water Impr. ('ran oAatlan tmpr iSanita inch. 8lonnvrafer Plannlnv I TOTAL ALL
Famity Dwelong Density Perc6M or subtotal wont r-undInj SLIMM I f srod Fundln Sub(O rontpundug Snpmtal F9nt F661r i Total Front FundlnE
Fundlrng Ent)tV Acreage Units (D(J) (DWFAere) Total DU Cost Amount Cost I Amount Cost I Amount Coat Amount i Cost p jnoy�
WWFCx 103 172 1.67 19.7% 3 1.412.381 S 98,193 $ 441.364 I $ MAN S 1.084.910 $ 80,505 3 5.69.1 $ 5,891 ! 3 2,944.348 S 186.483
7reen Farts 49 77 1.57 8.876 $ 832287 $ 43,083 $458,488 3 27.107 S 496,339 $ 27,880 S 2,715 S 2.715 � S 1589.830 S 100.986
even Was Estates 126 +�+ 217 1.72 24.6% S 1,781,900 S 121,,380 $766,945 $ 44,752 S 1 386,178 $ 75,833 $ 8,982 S 8,992 $ 3.602,008 S' '246.727
haffv Farm 154 I 224 1.45 25.6% 3 1.639.381 1 3 125.274 3 574.'799 S 33.963 3 1.484.251 ! S 82.776 S 8.533 S 8.533 S 3.908.964 3 250,5()7
rk Wood Estates 175 185 1.04 21.1% S 1,519,131 !1 $ 103,463 $ 474,723 S 26,067 S 1,405,901 1$ 76,406 S 9,880 $ 9,880 S 3,409.635 1, S 219,816
O 6
TOfa1 810 i 878 1.43 100.0% If 7,1(18 080 S 489„353 6 2,706319 13 160 „004 $ 5 827 0 S 325,000 S 33 j $ 33.800 S 15,752, 779 J$ 1„008.157
u,lm QftbWyeft4B=WOOd000m NOW VMWSPbn EdEWMAMMWAWSM' bW' YWOM6rN OR. w OR IN dYAe�.�egna�p�
The aM"O and unit Counts arc estimates; Once the fuel etreage and and emnls have been established, the Cobfiedon methodology wit be reran and the values wip be s4ualed scoordingly.
The Front F4mdhV Amount for each Mmtruolu re cmgment is Computed by using the proportional sharer or the Subforal Cost multiplied by the total frond funding amount required
1'
n
Z � EN� amt NnEWP18E5, INC.
DRAFT EXHIBIT CCC
UNITED CITY OF YORKVILLE, ILLINOIS
KENDALL COUNTY, ILLINOIS
SPECIAL SERVICE AREAS
SERIES 2007 — PAYDOWN BONDS
(Southwest Interceptor Project including Pavillion Road)
Summary of Proposed Terms
i
ISSUER: United City of Yorkville, Illinois (the "City ")
BOND TYPE: Special Tax Revenue Bonds
PUBLIC IMPROVEMENTS: The proceeds of the Bonds will be used by the City to construct certain
off -site Public Improvements benefiting the Special Service Areas (the
"Areas "). Improvements include roadways (including Pavillion Road)
sanitary sewer facilities, water facilities, costs for land and easement
acquisitions relating to any of the foregoing improvements and certain
soft costs associated with the Public Improvements.
THE AREAS: The City will form five separate special service areas (the "Areas "),
each of which will have a separate and distinct tax based on the number
of acres and dwelling units. As currently contemplated, the special
service areas will be:
Acreage Units
Silver Fox 103 172
Evergreen Farms 49 77
Aspen Ridge Estates 126 217
Chally Farm 154 224
York Wood Estates 178 185
%subject to change)
SECURITY: - A first lien on all Special Taxes imposed upon all property within
each Special Service Area.
- A Reserve Fund equal to 10% of the initial par amount of the
Bonds.
- the Special Service Areas will not be cross - collateralized
USE OF PROCEEDS: The proceeds of the Bonds will be used to 1) purchase and/or construct
certain Public Improvements; 2) fund a debt service reserve equal to
10% of par; 3) to pay capitalized interest for up to 25 months; and, 4)
pay costs of issuance.
COUPON: TBD
FINAL MATURITY: March 1, 2017
AMORTIZATION: Amortization will be in years 2014 through 2017.
2C 13
DRAFT EXHIBIT CCC
STRUCTURE: Pursuant to a Special Tax Roll, the Special Service Area Tax from each
special service area will be due and payable in full upon the transfer of
title on the property. Effectively, this structure will mandate the
Special Tax be prepaid once the Developer no longer owns the property
(i.e., prior to the time a homeowner takes possession). At each closing,
the payoff amount would be deposited with the bond trustee and the
City would issue a lien release. Quarterly, the Trustee would use all
prepayments to redeem bonds. See "Special Mandatory Redemption
from Property Owner Prepayment. "
Beginning in 2009, each owner will be required to make special tax
payments based on interest only for the special service area debt
allocable to their property. Beginning with the June 2014 special tax
payment, the special service area debt will begin to amortize for any
Y
unsold units.
AVERAGE ESTIMATED Averag Estimated Tax Pavments
SPECIAL TAX PAYMENTS:
(per unit)
Year Amount
2009 $1,196
2010 1,196
2011 1,196
2012 1,196
2013 6,485
2014 6,485
2015 6,485
2016 4,185
"includes principal and interest
- assumes an average debt of $22,955 /unit
- assumes title does not transfer
- assumes no prepayment and an average Debt
Service Reserve Credit of $2,295 /unit
ESTIMATED SOURCES Sources:
AND USES OF FUNDS: Bond Proceeds $20,086,000
Original Issue Discount (200,860)
City Funds 1,990,880
Interest Earnings 619.480
22,495,500
Uses:
Improvements 17,743,660
Debt Service Reserve 2,008,600
Capitalized Interest 2,301,520
Costs of Issuance 441.720
22,495,500
(') In order to allow for prepayment at any time without penalty, the bond purchasers
will require a 1% discount on the bonds at the time of issuance.
(Z) Interest is earned on the unspent bond proceeds held by the bond trustee.
(3) The Debt Service Reserve is required by bondholders and will be returned pro rata
at the time of each lot payoff. See "Debt Service Reserve."
(4) Interest is capitalized through March 1, 2009. The first tax bill will be June 2009.
(s) Costs of issuance are estimates and subject to change.
DRAFT EXHIBIT CCC
DEBT SERVICE RESERVE: A Debt Service Reserve equal to 10% of the par amount of the
Bonds will be required by the bondholders. A pro rata amount of
the Debt Service Reserve will be used to reduce the payoff amount
(see "Payoff') at the time the lien is released (the "Debt Service
Reserve Credit "). The Debt Service Reserve Credit will not be
available to any property owner that is delinquent in their special tax
payments.
PAYOFF: Based on a $20,086,000 bond issue, the payoff figure per parcel
would be:
Fee per Bond Total Tax DSR Payoff
Project DU Costs per DU Credit Amount
City of Yorkville 1,990,880
Silver Fox 17,118 4,709 21,827 2,183 19,644
Evergreen Farm 20,647 5,680 26,327 2,633 23,694
Aspen Ridge Estates 17,982 4,946 22,928 2,293 20,635
Chally Farm 17,442 4,798 22,240 2,224 20,016
York Wood Estates 18,430 5,070 23,500 2,350 21,150
Difference between "Payoff Amount" and "Fee per DU" equals each unit's per
share cost of the Costs of Issuance and the Capitalized Interest.
ANNEXATION It is contemplated that each developer will agree in its Annexation
AGREEMENT: Agreement to the formation of the special service area on its
property and the imposition of the special tax. In order to assure an
adequate number of units is included and the resultant special tax is
acceptable, all annexations would need to occur simultaneously.
METHOD OF SALE: Limited Offering
DENOMINATION: $100,000 with increments of $1,000 in excess thereof.
BOND FORM: Book -entry Only through DTC
ANTICIPATED RATING: None
TAXATION: Exempt from federal taxes; not subject to AMT; not exempt from
State of Illinois income taxes.
INTEREST PAYMENT March 1 and September 1, commencing September 1, 2007
DATES:
PRINCIPAL PAYMENT March 1, commencing March 1, 2014
DATES:
OPTIONAL REDEMPTION: The Bonds are subject to mandatory redemption by the City prior to
maturity.
SPECIAL MANDATORY The Bonds are subject to mandatory redemption on any Interest
REDEMPTION FROM Payment Date, in par, from prepayments of Special Taxes made in
PROPERTY OWNER accordance with the Ordinance of the City establishing the Area (the
PREPAYMENT: `Establishing Ordinance ") and deposited into the Special
Redemption Account of the Bond Fund, at a redemption price of par,
together with accrued interest on such Bonds to the date of
DRAFT EXHIBIT CCC
redemption. The Bonds will be called in order of maturity.
When the amount on deposit in the Special Redemption Account
equals $1,000, such amount shall be used to redeem Bonds on the
next Interest Payment Date at the redemption prices set forth above.
ACCELERATION: The Indenture does not permit the acceleration of the principal of the
Bonds upon the occurrence of an Event of Default under the
Indenture.
ABATEMENT: Annually on or before the last Tuesday in December, the City shall
adopt an abatement ordinance abating the Special Tax to the extent
monies are on deposit in the Principal and Interest Account of the
Bond Fund and to adjust the levy for prepayment that occurred
during the year.
BOND COUNSEL: Foley & Lardner
UNDERWRITER: William Blair & Company
TRUSTEE: Bank of New York
BILLING AND The County will bill and collect the special service area tax.
COLLECTING:
ADMINISTRATOR: The City will hire David Taussig & Associates as the special service
area administrator (the "Administrator ") to assist the City in the
levy, abatement and collection process.
EXHIBIT `EEE'
RECAPTURE AGREEMENT
THIS RECAPTURE AGREEMENT ( "Agreement "), is made and entered as of the day of
,200 by and between the UNITED CITY OF YORKVILLE, an Illinois
municipal corporation ( "CITY ") and ( "DEVELOPER ").
RECITALS:
A. DEVELOPER is the OWNER and DEVELOPER of that certain real estate
development located within the corporate limits of the CITY and commonly known as
( "Subdivision ").
B. DEVELOPER and the CITY have heretofore entered into that certain Annexation
Agreement dated , 2006 ( "Annexation Agreement ") pertaining to the annexation
and development of the Subdivision within the CITY.
C. DEVELOPER desires to recapture an allocable share of the costs of constructing
certain of the public improvements for the Subdivision ( "Recapture Items ") which will provide
benefit to other properties ( "Benefited Properties ") from the OWNERs of the Benefited
Properties ('Benefited OWNERs ").
D. DEVELOPER and the CITY are desirous of entering into this Agreement to
provide for the fair and allocable recapture by DEVELOPER of the proportionate costs of the
Recapture Items from the Benefited OWNERS, subject to the terms and conditions set forth in
this Agreement.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants
hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged by the parties hereto, the parties hereby agree as follows:
1. RECAPTURE ITEMS. The Recapture Items, being elements of the public
improvements to be constructed as a part of the development of the Subdivision, are identified in
Attachment "A" attached hereto ( "Recapture Schedule "). The Recapture Schedule identifies
each Recapture Item and the estimated cost to construct each Recapture Item ( "Estimated Cost ").
DEVELOPER shall cause each of the Recapture Items to be constructed in compliance with the
provisions of the Annexation Agreement and to be accepted and conveyed to the CITY in
accordance with applicable ordinances of the CITY.
2. BENEFITED PROPERTIES. The Benefited Properties are legally described in the
Recapture Schedule attached hereto as Attachment "B ". Each parcel of real estate contained
within the Benefited Properties is referred to herein individually as a "Benefited Parcel ". There
are a total of C) Benefited Parcels as identified in the Recapture Schedule.
3. RECAPTURE COSTS. The Recapture Item(s) which the Corporate Authorities of the
CITY have determined will benefit a Benefited Parcel, and the prorata share of the Estimated
Cost of each such Recapture Item to be allocated to such Benefited Parcel are set forth in the
Recapture Schedule. The aggregate amount of the proportionate share of the Estimated Cost for
each of the Recapture Items allocable to a Benefited Parcel is referred to herein as the
"Recapture Costs ". The Recapture Costs for each of the Benefited Parcels shall be as identified
in the Recapture Schedule. Interest shall accrue on the Recapture Costs for the benefit of
DEVELOPER at the rate of six percent (6 %) per annum from the date the Recapture Item is
completed until the Recapture Cost is paid. All references to Recapture Costs herein shall
include accrued interest owed thereon.
4. COLLECTION OF RECAPTURE COSTS,. The CITY shall assess against and collect
from the Benefited OWNER of a Benefited Parcel, or any portion thereof, his successors and
assigns, the Recapture Cost, calculated under Paragraph 3 of this Agreement for such Benefited
Parcel. At such time as a Benefited OWNER, or its agent or representative, annexes and/or
subdivides a Benefited Parcel, or any portion thereof, or subdivides the Benefited Parcel from a
larger parcel of land, or applies to the CITY for issuance of a permit for connection to all or any
of the Recapture Items, whichever shall first occur, the CITY shall collect from such Benefited
OWNER, or its agent or representative, the applicable Recapture Costs, owed hereunder by such
Benefited Parcel. No Benefited Parcel which is a part of a subdivision (whether by plat or
division by deed) shall be approved or recognized by the CITY or be issued a connection permit
to a Recapture Item by the CITY until such Benefited Parcel has fully paid the applicable
Recapture Costs, owed by such Benefited Parcel under this Agreement.
5. PAYMENT OF RECAPTURE COSTS. Any Recapture Costs, collected by the CITY
pursuant to this Agreement shall be paid to DEVELOPER, or such other person or entity as
DEVELOPER may direct by written notice to the CITY, within thirty (30) days following
collection thereof by the CITY. It is understood and agreed that the CITY's obligation to
reimburse DEVELOPER shall be limited to funds collected from the Benefited OWNERs as
provided herein, and payments made hereunder shall be made solely out of said funds. This
Agreement shall not be construed as creating any obligation upon the CITY to make payments
from its general corporate funds or revenue.
6. CITY'S OBLIGATION. The CITY and its officers, employees and agents shall make
all reasonable efforts to make the aforesaid collections of the Recapture Costs, for each
Benefitted Parcel. Neither the CITY or any of its officials shall be liable in any manner for the
failure to make such collections, and DEVELOPER agrees to hold the CITY, its officers,
employees and agents, harmless from the failure to collect said fees. In any event, however,
DEVELOPER and/or the CITY may sue any Benefited OWNER owing any Recapture Costs,
hereunder for collection thereof, and in the event DEVELOPER initiates a collection lawsuit, the
CITY agrees to cooperate in DEVELOPER's collection attempts hereunder by allowing full and
I
free access to the CITY's books and records pertaining to the subdivision and/or development of
the Benefited Parcel and the collection of any Recapture Costs therefore. In the event the CITY
and any of its agents, officers or employees is made a party defendant in any litigation rising out
of or resulting from this Agreement, DEVELOPER shall defend such litigation, including the
interest of the CITY, and shall further release and hold the CITY harmless from any judgment
entered against DEVELOPER and/or the CITY and shall further indemnify the CITY from any
loss resulting therefrom, except to the extent such loss results from the grossly negligent or
willfully wrongful act or conduct of the CITY or any of its agents, officers or employees.
7. CITY'S COLLECTION OF OTHER FEES AND CHARGES. Nothing contained in
this Agreement shall limit or in any way affect the rights of the CITY to collect other fees and
charges pursuant to CITY ordinances, resolutions, motions and policies. The Recapture Costs
provided for herein for each Benefited Parcel is in addition to such other CITY fees and charges.
8. TERM This Agreement shall remain in full force and effect for a period of twenty (20)
years from the date hereof, unless sooner terminated by the mutual agreement of the parties
hereto or by the completion of all duties to be performed hereunder. In the event no portion of a
Benefited Parcel is a part of a subdivision approved or recognized by the CITY and no
connection permit as aforesaid is issued by the CITY for such Benefited Parcel within ten years
following the date of this Agreement, this Agreement, and each and every duty and undertaking
set forth herein pertaining to such Benefited Parcel, shall become null and void and of no fiu ther
force and effect as to such Benefited Parcel.
9. LIEN The recordation of this Agreement against the Benefited Properties shall create
and constitute a lien against each Benefited Parcel, and each subdivided lot hereafter contained
therein, in the amount of the Recapture Costs, plus interest, applicable hereunder to such
Benefited Parcel.
10. MISCELLANEOUS PROVISIONS.
A. Agreement: This Agreement may be amended upon the mutual consent of the
parties hereto from time to time by written instrument and conformity with all applicable
statutory and ordinance requirements and without the consent of any other person or
corporation owning all or any portion of the Benefited Properties.
B. Binding Effect: Except as otherwise herein provided, this Agreement shall inure
to the benefit of and be binding upon the successors and assigns of DEVELOPER and
any successor municipal corporation of the CITY.
C. Enforcement: Each party to this Agreement, and their respective successors and
assigns, may either in law or in equity, by suit, action, mandamus, or other proceeding in
force and compel performance of this Agreement.
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D. Recordation: A true and correct copy of this Agreement shall be recorded, at
DEVELOPER's expense, with the Kendall County Recorder's office. This Agreement
shall constitute a covenant running with the land and shall be binding upon the Benefited
Properties in accordance with the terms and provisions set forth herein.
E. Notices Any notice required or desired to be given under this Agreement, unless
expressly provided to the contrary herein, shall be in writing and shall be deemed to have
been given on the date of personal delivery, on the date of confirmed telefacsimile
transmission provided a hard copy of such notice is deposited in the U.S. mail addressed
to the recipient within twenty -four hours following the telefacsimile transmission, or on
the date when deposited in the U.S. Mail, registered or certified mail, postage prepaid,
return receipt requested, and addressed as follows:
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If to CITY: United CITY of Yorkville
Attn: CITY Clerk
800 Game Farm Road
Yorkville, 11 60560
Fax: (630) 553 -4350
with a copy to: John Wyeth, Esq.
800 Game Farm Road
Yorkville, 11 60560
Fax: (630) 553 -4350
If to OWNER
F. Severabilitv: The invalidity or unenforceability of any of the provisions
hereof, or any charge imposed as to any portion of the Benefited Properties, shall not affect the
validity or enforceability of the remainder of this Agreement or the charges imposed hereunder.
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G. Complete Agreement: This Agreement contains all the terms and
conditions agreed upon by the parties hereto and no other prior agreement, excepting the
Annexation Agreement, regarding the subject matter of this Agreement shall be deemed to exist
to bind the parties. This Agreement shall be governed by the laws of the State of Illinois.
H. Captions and Paragraph Headings: Captions and paragraph headings
incorporated herein are for convenience only and are not part of this Agreement, and further shall
not be used to construe the terms hereof
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I. Recitals and Exhibits: The recitals set forth at the beginning of this
Agreement and the exhibits attached hereto are hereby incorporated into this Agreement and
made a part of the substance hereof.
J. Enforceability: This Agreement shall be enforceable in the Circuit Court of
Kendall County by any of the parties hereto by an appropriate action of law or in equity to secure
the performance of the covenants herein contained.
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IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals as
of the date first above written.
DEVELOPER: CITY:
UNITED CITY OF YORK
MLLE
i' an Illinois municipal corporation
By: �r �e�� �V �S r� By:
Title: President Mayor
Attest:
Dated: CITY Clerk
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