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Economic Development Packet 2003 05-15-03 -n United City of Yorkville County Seat of Kendall County EST.% 1836 800 Game Farm Road ,� CO Yorkville, Illinois 60560 Q (NI n Q Phone:630-553-4350 Fax:630-553-7575 `ELLE ‘‘v AGENDA ECONOMIC DEVELOPMENT COMMITIEE MEETING Thursday, May 15, 2003 7:00 p.m. City Hall Conference Room 1. Approval/Correction of Minutes: April 17, 2003 2. PC 2001-06 Grande Reserve: Annexation Agreement - Update 3. Building Permit Reports for March 2003 and April 2003 4. Zoning Text Amendment for Special Use R-1 for an Antique Store and PC 2003-02 Greene Rezone of 9818 Route 71 5. Public Infrastructure Agreement for United City of Yorkville Special Service Tax Area #2003-100 (The Highlands) 6. PC 2003-06 Senior Apartment Housing - Height Requirement and Parking 7. PC 2002-27 Fisher Property: Kimball Hill Homes, petitioners, has filed an application with the United City of Yorkville, Kendall County, Illinois requesting annexation to the United City of Yorkville and rezoning from Kendall County A-1 Agricultural to United City of Yorkville R-2 Planned Unit Development. The real property consists of approximately 300 acres at the Northwest corner of Cannonball Trail and Faxon Road, Bristol Township, Kendall County, Illinois. 8. PC 2003-04 Caledonia: Inland Land Appreciation Fund, L.P., a Delaware Limited Partnership, petitioner, has filed an application with the United City of Yorkville, Kendall County, Illinois requesting preliminary plat review. The real property consists of approximately 85.296 acres and is located West of Route 47 and West and North of the Yorkville Business Center, Bristol Township, Kendall County, Illinois. Page 2 Economic Development Committee May 15, 2003 9. PC 2003-05 Heartland Circle: Richard Marker Associates, Inc., petitioner, has filed an application with the United City of Yorkville, Kendall County, Illinois requesting final plat approval. The real property consists of 129.6 acres and is located West of Fox River Gardens, South of Heartland Unit 1 and East of Fox Field in the United City of Yorkville, Kendall County, Illinois. 10. Fox Hill Unit 7 POD 10 - Final Plat Update 11. Additional Business Page 1 of 3 UNITED CITY OF YORKVILLE ECONOMIC DEVELOPMENT COMMITTEE THURSDAY, APRIL 17, 2003 7 P.M. In Attendance: Committee members Richard Sticka and Joe Besco; City Administrator Tony Graff; City Attorney Kelly Kramer; Bill Powell; and Sandford Stein, Chris Lannert, and Mitch LaFave with Ocean Atlantic. MINUTES Minutes from the March 20, 2003 meeting were approved. Text Amendment for R-2 Zoning regarding Lot Area Coverage Code Official Bill Dettmer is requesting the city change the lot area coverage in residential zoning from 20 percent to 25 percent. Discussing the request, Committee Chairman Richard Sticka said 20 percent limits people from adding on such as putting up a covered garage. He said the current 20 percent seems to limit the size of homes that can be constructed and thus limits the equalized assessed valuations (EAVs). Sticka and committee member Joe Besco both agreed with Dettmer's request and forwarded the issue to the Committee of the Whole. PC 2002-06 Westbury Village petition to annex and rezone Chris Lannert said the major changes in the plan include a 20-acre school/park site to the north, which will be a 5-acre park site and a 15-acre school site. Also, the developers agreed to go to 12,000 square foot lots in all of the neighborhoods except when the lots back up to open space. In that case, they will be 10,000 square feet, which is allowed by the city. In accordance with city staff, Lannert said there are now 8 units per acre in each of the neighborhood pods. That will cause a reduction in the size of the pods and the number of units shown on the current plan. The developers agreed with city staff that the permitted attached product per the transition zone in the comprehensive plan is 25 percent. That figure comes out to 75.2 acres, Lannert said. Multiplied by 8, that figure comes to 602 multifamily units. During conversations with city staff, Lannert said he interpreted that the developers could have that 25 percent and pro-rate the storm water back into the table. However, he said he now understands and accepts City Planner Mike Schoppe's memo. That means the developers will be limited to 75 acres of attached family product, 602 multifamily units. He said those changes will be made and filed with the city by the following Wednesday so they can get back into the meeting schedule. Page 2 of 3 As for another change, a bridge across Rob Roy Creek will unify the community, Lannert said. He said the bridge coming across the creek services the school site and ties the community together. He said he thinks the developers are now in concert with the staff and almost with the Plan Commission. The Plan Commission voted against the concept plan at its meeting earlier in the months. Sticka said the concept plan was too detailed and things were being questioned at the Plan Commission meeting that went well beyond the concept plan stage. At the same time, he said he does not expect the preliminary plan to be something utterly different from the concept plan. In response to a question from Sticka, LaFave said one section of 8.5 acres that were in multi-family will get moved to single family. They will be moved proportionately in the pods. Lannert said that change will represent the biggest redesign of the plan. LaFave also said each pod will decrease in density to comply with the comprehensive plan. Sticka also asked about the commercial development planned for the project. LaFave said the development will have about 260,000 square feet of commercial development — a typical strip or psuedo-power center type of development. When adding sales tax, utility taxes and others, LaFave said the city would see about $700,000 per year in revenues from the expected commercial development and the school district would receive about $290,000. Sticka then asked how the composting business next to the property would impact development. He said he's worried that residents will complain about the odors. LaFave said the majority of the composting business is on the Undesser Farm. Lannert said the developers intend to put in berms and plantings to buffer the area. Sticka said the new homes will be almost on top of the composting business. He added that there was a previous problem with residents complaining of odors from a composting plant south of town. LaFave said the newer facilities don't smell nearly as bad. Sticka, however, said he doesn't think future aldermen should have to deal with the issue as complaints may arise. LaFave said they'll do what they can to protect the city and residents such as stating the existence of the composting facility in the plats. Also, he said the developers hope to get rid of the composting plant on the Undesser property. Sticka said he'd like to see the developers address the issue the best that they can. Raising another concern, Sticka said the property for the proposed development is in a flood plain and he is concerned about storm water management. In talking to City Engineer Joe Wywrot, Sticka said storm water management is a lot harder to do on a Page 3 of 3 piece of property like this. He said the city will want to make sure its engineers carefully monitor what's being designed for storm water management. LaFave said their engineers have been in contact with the city's engineering firm of EEI. He said they're not working in a vacuum. Sticka said he doesn't want problems years from now. Lannert said if everyone pays attention, they can make sure the storm water management is done right. Sticka said he realizes the hardest thing to do is to manage storm water. In his mind, Sticka said he feels the proposed development conforms to the comprehensive plan. Besco asked if there is a backup SSA for snow removal in the multi-family housing units. LaFave said there will be an overall homeowners' association and that each pod will have a homeowners' association. Also, he said some of the streets in those pods will be private streets. Besco and Sticka both agreed that the zoning request complies with the comprehensive plan and decided to move the request forward to the Committee of the Whole meeting on May 6. LaFave said they'll try to have some more information about the composting facility at the meeting. The meeting adjourned at 7:45 p.m. '05/0512003 10 26 FAX 630 553 5764 DANIEL J. KRAMER Q002/004 STATE OF ILLINOIS ) Drafted 5/5/03 )ss. COUNTY OF KENDALL ) ORDINANCE 2003- AN ORDINANCE AMENDING TITLE 10, CHAPTER 6, ARTICLE 6A, SECTION 2 OF THE YORKVILLE CITY CODE TO PROVIDE FOR HISTORIC PRESERVATION OF STRUCTURES WITHIN THE R-1 ESTATE CLASS ONE-FAMILY RESIDENTIAL WHEREAS, THE UNITED CITY OF YORKVILLE, after careful consideration by the Mayor and City Council, has determined it necessary to promote, the conservation,protection, restoration, rehabilitation, use, and overall enhancement of structures having historic significance within the R-1 Estate Class One-Family Residential District; WHEREAS, THE UNITED CITY OF YORKVILLE, after careful consideration by the Mayor and City Council, has determined in order to facilitate said historic preservation within the R-1 Estate Class One-Family Residential District that Section 2 shall be amended to allow the sale of antiques as a Special Use within said District; WHEREAS, THE UNITED CITY YORKVILLE, after careful consideration by the Mayor and City Council, has determined that it is in the best interests of the community to amend the Title 10, Chapter 6, Article 6A, Section 2 of the Yorkville City Code to add"the sale of antique goods and property from a structure deemed to have historic significance; NOW THEREFORE BE TT ORDAINED BY THE UNITED CITY OF YORKVILLE; I. That Title 10,Chapter 6, Article 6A, Section 2 of the Yorlcville City Code is hereby amended to allow the following special uses in the R-1 Estate Class One-Family Residential District; A. The sale of antique goods and property from a structure deemed to have historic 05/05/2003 10 26 FAX 630 553 5764 DANIEL J. KRAMER Z003/004 D significance 2. In all other respects Title 10 of the Yorkville City Code shall remain in full force and effect. 3. That if a conflict shall arise with respect to the Code of this Amendment,this Amendment shall control. REPEALER: All ordinances or parts of ordinances conflicting with any of the provisions of this ordinance shall be and the same are hereby repealed. SEVERABILITY: If any section, subsection, sentence, clause, phrase or portion of this ordinance is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate,distinct, and independent provision, and such holding shall not affect the validity of the remaining portions hereof. EFFECTIVE DATE: This ordinance shall be in effect from and after its passage, approval and publication in pamphlet form as provided by law, IN WITNESS WHEREOF, this Ordinance has been enacted this day of ,2003. PAUL JAMES MARTY MUNNS RICHARD STICKA WANDA OHARE VALERIE BURD ROSE SPEARS LARRY KOT JOSEPH BESCO APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this day of , A.D. 2003. MAYOR -- ,005p,-)5/..2003 10 26 FAX 630 553 5764 DANIEL J. KRAMER 12004/004 PASSED by the City Council of the United City of Yorkville, Kendall County,Illinois this day of , A.D. 2003. Attest: CITY CLERK This Document Prepared by: Law Offices of Daniel J. Kramer 1107A South Bridge Street Yorkville, Illinois 60560 630-553-9500 BUILDING PERMIT REPORT United City of Yorkville March 2003 Types of Permits Number of Permits Issued SFD 2-Family Multiple-Family Commercial Industrial Miscellaneous Total Construction Cost March 2003 46 22 1 0 3 0 20 $5,358,938.00 Calendar Year 2003 118 64 1 0 4 0 47 $15,215,408.00 Fiscal Year 2002 12 683 255 5 2 33 1 387 $54,950,497.00 March 2002 67 34 0 0 5 0 28 $6,221,362.00 Calendar Year 2002 2 144 69 2 0 15 0 58 $14,567,010.00 Fiscal Year 20013 4 s 503 202 9 3 32 2 253 $57,647,929.00 March 2001 27 13 0 0 1 0 13 $2,762,463.00 Calendar Year 2001 63 27 1 1 1 0 33 $6,328,131.00 Fiscal Year 2000 6 7 289 127 3 1 6 0 167 $30,262,161.00 March 2000 31 12 0 0 1 0 18 $1,785,720.00 Calendar Year 2000 55 20 0 0 1 0 34 $2,845,808.00 Fiscal Year 1999 8 218 79 4 1 9 0 148 $18,028,519.00 March 1999 22 10 0 0 0 0 12 $1,431,717.00 Calendar Year 1999 42 19 1 0 0 0 22 $4,521,562.00 Fiscal Year 1998 187 34 2 0 3 1 135 $18,942,269.00 1 The SFD permit issued in August as Y-2002-579 was voided and reissued as Y-2002-691 in October. To maintain a correct count,it shall remain on the August 2002 count. 2 Permit Numbers Y-2002-034, Y-2002-467,and Y-2002-579 were voided,thus only 806 of 809 assigned permit numbers were actually issued. 3 Permit Number 01490 was voided,thus only 583 of 585 assigned permit numbers were actually used. Also,Permit Number 01478 was for 4 Attached SFDs(Townhomes);reissued as Permits 01478A,B,C,and D. Also,Permit Number 01480 was for 6 Attached SFDs;reissued as Permits 01480A,B,C,D,E,and F. 4 Permit Number 01385 was for 6 Attached SFDs;reissued as Permits 01385A,B,C,D,E,and F. ' Permit Number 01259 was for 4 Attached SFDs;reissued as Permits 01259A,B,C,and D. 6 Permits Number 00122,00189 and 00262 were each for 6 Attached SFDs. 7 Permit Number 00101 was voided,thus only 233 of 234 assigned permit numbers were actually issued. 8 Permit Number 99080 was for 5 Attached SFDs. BUILDING PERMIT REPORT United City of Yorkville April 2003 Typesf i o Permits Number of Permits Issued SFD 2-Family Multiple-Family Commercial Industrial dustrial Miscellaneous ceUaneous TotalConstruction o st April 2003 97 30 2 0 4 1 60 $8,562,993.00 Calendar Year 2003 215 96 3 0 8 1 107 $23,778,401.00 Fiscal Year 2002 12 780 285 7 2 37 2 447 $63,513,490.00 April 2002 97 26 0 2 1 0 68 $7,221,219.00 Calendar Year 2002 2 241 95 2 2 16 0 126 $21,788,229.00 Fiscal Year 20013 4 5 600 228 9 5 33 2 321 $64,869,148.00 April 2001 50 17 0 0 2 0 31 $3,469,289.00 Calendar Year 2001 113 44 1 1 3 0 64 $9,797,420.00 Fiscal Year 2000 67 339* 144* 3 1 8 0 198 $40,059,581.00 April 2000 37 10 0 0 0 0 27 $1,791,270.50 Calendar Year 2000 92 30 0 0 1 0 61 $4,637,078.50 Fiscal Year 1999 8 255 89* 4 1 9 0 175 $19,819,789.50 April 1999 36 7 0 0 1 0 28 $1,092,114.00 • Calendar Year 1999 78 26 1 0 1 0 50 $5,613,676.00 Fiscal Year 1998 223 41 2 0 4 1 163 $20,034,383.00 2 The SFD permit issued in August as Y-2002-579 was voided and reissued as Y-2002-691 in October. To maintain a correct count,it shall remain on the August 2002 count 2 Permit Numbers Y-2002-034, Y-2002-467,and Y-2002-579 were voided,thus only 806 of 809 assigned permit numbers were actually issued. 3 Permit Number 01490 was voided,thus only 583 of 585 assigned permit numbers were actually used. Also,Permit Number 01478 was for 4 Attached SFDs(Townhomes);reissued as Permits 01478A,B,C,and D. Also,Permit Number 01480 was for 6 Attached SFDs;reissued as Permits 01480A,B,C,D,E,and F. 4 Permit Number 01385 was for 6 Attached SFDs;reissued as Permits 01385A,B,C,D,E,and F. ' Permit Number 01259 was for 4 Attached SFDs;reissued as Permits 01259A,B,C,and D. 6 Permits Number 00122,00189 and 00262 were each for 6 Attached SFDs. 7 Permit Number 00101 was voided,thus only 233 of 234 assigned permit numbers were actually issued 8 Permit Number 99080 was for 5 Attached SFDs. DRAFT 5/9/03: 1:09 p.m. PUBLIC INFRASTRUCTURE AGREEMENT FOR UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2003-100: THE HIGHLANDS This Public Infrastructure Agreement (this "Agreement") entered into this day of , 2003 is between the United City of Yorkville, Illinois (the "City"), Concord Homes, Inc., a Delaware Corporation, (the "Developer") and Wyndham Deerpoint Homes; an Illinois partnership ("Seller"). The Developer and the Seller shall sometimes be collectively referred to herein as the "Owner". The City and the Developer are sometimes hereinafter referred to individually as a"Party" and collectively as the"Parties." RECITALS A. The Seller owns fee simple title to that certain real estate located in Kendall County, Illinois and the City is legally described in Exhibit A hereto and designated thereon as the "Property" (hereinafter "Property" or "Area"). Seller has entered into that certain Agreement of Purchase and Sale with Developer dated May 22, 2002, as amended from time to time ("Sale Agreement"), whereby Seller has agreed to sell the Property and other real estate located adjacent to the Property to Developer, in phases. B. The Developer desires to develop the Area with single family detached dwellings and single family attached dwellings (the "Dwelling Units") in a subdivision to be known as the "Highlands" (the "Development"). The Development shall be constructed as generally described in the Annexation Agreement dated between the City and Seller with respect to the Property and other real estate, as amended from time to time (the "Annexation Agreement"), the preliminary plat and preliminary engineering plans for the Property approved by the City on , ("Preliminary Plat and Preliminary Engineering Plans") and the final plats and final engineering plans approved from time to time by the City ("Final Plats and Engineering Plans") (collectively, "Entitlement Documents" or "Entitlements"). The Development will be constructed in phases over a multiyear period. C. The City has authority to enter into this agreement under the Special Service Tax Law, 35 ILCS 200/27 et seq. and the Illinois Constitution Article VII Section 7. D. In the Entitlement Documents, the City required the Developer to commit to construct certain on site and off site improvements in connection with the Development and to dedicate rights-of-way or easements which, upon completion thereof would be dedicated, conveyed or otherwise become the property of or subject to the maintenance and control of, the City. E. The Public Improvements are unique and special services within the meaning of 35 ILCS 200/ 27-5 that will benefit the Area specially and are in addition to the municipal services provided to the City as a whole. All of the Public Improvements are to be located in either publicly dedicated rights-of-way, on public lands or in publicly dedicated easements and shall generally consist of and include engineering, soil testing and appurtenant work, mass grading and demolition, storm water management facilities, storm drainage systems and storm sewers, site clearing and tree removal, erosion control measures, roads, streets, curbs, gutters, street lighting, traffic controls, sidewalks and related street improvements, and equipment and materials necessary for the maintenance thereof, landscaping, wetland mitigation, park, park improvements, bicycle paths, utility relocation and tree installation, costs for land and easement acquisitions relating to any of the foregoing improvements, and other eligible costs, soil reports, erosion control improvements, to pay capitalized interest; to establish a reserve fund; to pay issuance costs; to pay the Special Service Area Number 2003-100 administration costs; and to reimburse the City for its expenses including but not limited to legal fees relating to the Bonds and the cost of acquiring title to, or easements with respect to, land on which Public Improvements are located or are to be located (collectively the "Public Improvements"). The Public Improvements and the estimated related costs are attached hereto as Exhibit B. The Public Improvements are described in more detail in the Entitlement Documents and the Exhibits attached thereto. F. The City Council of the City (the "Corporate Authorities") determined in City Ordinance that the Area would benefit specially from construction of the Public Improvements and that it would be in the best interest of the City to adopt an ordinance (the "Establishing Ordinance") designating the Area as a "Special Service Area Number 2003-100" pursuant to Article VII, Section 7 of the Illinois Constitution and the Illinois Special Service Area Tax Law, 35 ILCS 200/27-5 et seq. and authorizing the levy of special service area taxes upon the taxable real property within the Special Service Area Number 2003-100. G. No later than December 31, 2003, or such later date as agreed to between the Parties, the Corporate Authorities shall adopt separate ordinances to be drafted by the City's Bond Counsel (the "Bond Ordinance") authorizing the issuance of the United City of Yorkville, Kendall, County Illinois, Special Service Area Number 2003-100 Special Tax Bonds, Series 2003 (the "Bonds") to pay a portion of the costs for the Public Improvements, including the financing and other costs associated with the funding of the Public Improvements. H. The Parties agree that the Developer shall construct the Public Improvements on behalf of the City and in accordance with the terms and provisions of the Entitlement Documents. The proceeds from the sale of the Bonds shall be under the control of the City and shall be used to pay for the Public Improvements. I. The proceeds from the sale of the Bonds (the "Bond Proceeds") to be used by the City to pay for the Public Improvements shall be held by an institutional trustee, as trustee for the 2 Bond Holders ("Trustee"), in an account entitled the "Improvement Fund" in accordance with a trust indenture relating to the Bonds (the "Trust Indenture"). J. The Corporate Authorities determined that the Development is in the vital and best interest of the City and the health, safety, morals and welfare of its residents, that property within Special Service Area Number 2003-100 will benefit specially from the municipal services to be provided to the Area and the financing of the Public Improvements by the City is in accordance with the public purposes and provisions of applicable state and local laws. K. This Agreement has been submitted to the Corporate Authorities for consideration and review, and the Corporate Authorities have taken all actions required to be taken prior to the execution of this Agreement in order to make the same binding upon the City according to the terms hereof. The Developer has taken all actions necessary and adopted the proper resolutions to make this Agreement binding upon the Developer according to the terms hereof. NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City, the Developer and Seller hereby agree as follows: ARTICLE ONE Recitals Part of Agreement The representations, covenants and recitations set forth in the foregoing recitals are material to this Agreement and are hereby incorporated into and made a part of this Agreement as though they were fully set forth in this Article One. ARTICLE TWO Mutual Assistance The Owner and City agree to take such actions, including the execution and delivery of such documents, instruments, petitions, certifications (and in the City's case, the adoption of such ordinances and resolutions), as may be necessary or appropriate from time to time to carry out the terms, provisions and intent of this Agreement and to aid and assist each other in carrying out said terms, provisions and intent. ARTICLE THREE Construction of the Public Improvements 3.1 Construction of Public Improvements by the Developer. As required by the Illinois Special Service Area Tax Law, 35 ILCS 200/27-5 et seq., the Public Improvements provide a special service specific and unique to the Area, and are essential to the Development; the Developer shall construct the Public Improvements for the benefit of and on behalf of the City as 3 provided in this Article Three. Construction of the Public Improvements shall commence within six months after the sale of the Bonds. With respect to the Public Improvements to be constructed with the Bond Proceeds, such proceeds shall be fully expended on the Public Improvements within thirty-six (36) months after the sale of the Bonds, provided that all necessary approvals and permits have been granted by the City. With respect to all Public Improvements, they shall be dedicated or conveyed to the City after the sale of the Bonds as provided in the Development Agreement, provided that all necessary approvals and permits have been granted by the City. The Public Improvements shall be paid for as provided in Article Six of this Agreement. 3.2 Duty of the Developer to Construct. (a) The Developer, on behalf of the City, shall cause the Public Improvements to be constructed as a special and unique benefit to the Area. In accordance with the Entitlement Documents, all Public Improvements shall be located in either publicly dedicated rights-of-way, on public lands or in publicly dedicated easements. The City acknowledges that it does not intend to design, bid or construct the Public Improvements. The City agrees that the Developer shall construct the Public Improvements using subcontractors and materialmen selected from time to time by the Developer in the Developer's sole discretion without advertising for bids as permitted by the provisions of Section 65 ILCS 5/8-9-1 of the Illinois Municipal Code. All Public Improvements to be constructed hereunder shall be constructed in substantial accordance with the all applicable laws, ordinances and rules as modified by the Entitlement Documents and shall be constructed in a good workmanlike fashion and commercially reasonable manner. At all times, the Developer shall employ and/or contract with adequate staff, consultants and contractors possessing the requisite experience necessary to administer and coordinate the construction of the Public Improvements. (b) The City agrees to accept the Public Improvements provided that the Developer follows the provisions contained in Section 3.9 of this Agreement. (c) The Parties agree that the Developer shall receive payment for the construction of the Public Improvements in an amount equal to the amount or amounts shown on the budget or budgets attached hereto as Exhibit B, which amounts include a factor for the Developer's construction administration and supervisory expenses (the `Budgeted Amount"). In the event that the actual cost of constructing a particular Public Improvement exceeds the cost budgeted for that Public Improvement ("Excess Cost"), the Developer shall be permitted to utilize funds allocated to other Public Improvements to pay the Excess Cost; provided, however, that any Public Improvements to be paid for with Bond Proceeds must be in conformity with the Rate and Method. The Developer and the City shall cooperate with each other and shall each use their best efforts to cause the cost of constructing the Public Improvements to be no more than the Budgeted Amount. However, it is understood that if despite the Parties' best efforts, the cost of constructing the Public Improvements exceeds the Budgeted Amount, then the Developer shall be required to complete construction of the Public Improvements, and to the extent that the 4 amounts available from the Improvement Fund are not sufficient to pay for all costs of constructing the Public Improvements, the difference shall be paid by the Developer. In making such payments, however, the Developer does not waive any cause of action it may have against the City for such cost overruns. (d) Subject to Article 8 of this Agreement, if the Developer fails to complete the Public Improvements within the time specified herein, or any extensions of time granted by the City (which extension shall not be unreasonably withheld) or the Developer abandons the project (ceases all work for a period of six (6) consecutive months without reasonable cause for delay), and if as a result, a breach of this Agreement occurs (subject to the terms of Section 10.3 of this Agreement), the City has the right, but not the obligation to complete the Public Improvements using the remaining Bond Proceeds on deposit in the Improvement Fund to pay for the completion of the Public Improvements identified in the Project Budget attached in Exhibit B under the caption Bond Proceeds. Additionally, to the extent that the remaining Bond Proceeds are not sufficient to pay for the reasonable costs of such completion of the Public Improvements by the City the City shall have the right to draw upon the performance bond identified in Section 3.8(ii) for such reasonable additional costs of completion. Upon completion of the Public Improvements by the City, the City shall issue to Developer a written Certificate of Completion of the Public Improvements.. (e) Upon completion and acceptance of all Public Improvements of a particular phase, the Developer shall provide the City with a one year maintenance guarantee ("Maintenance Guarantee"). Upon the expiration of said year, the maintenance, repair, restoration, and reconstruction of all Public Improvements are the sole cost and expense of the City. 3.3 Submission and Approval of Plans and Engineering. All work with respect to the construction of the Public Improvements by the Developer shall be performed in conformance with the approved Preliminary Plat and Preliminary Engineering Plans and Final Plats and Engineering Plans. The Developer shall prepare and submit to the City for approval by the City (which approval shall not be unreasonably delayed or withheld) Final Plats and Engineering for the Development (collectively "Construction Plans"). 3.4 Public Improvements Constructed on City's Right-of-Way and Public Lands. The City hereby grants or shall cause to be granted to the Developer easements and/or licenses with respect to the City's right-of-way and public lands and private property (which the City has acquired easements over) for which some or all of the on site or off site Public Improvements are required and which are necessary to permit the Developer to construct the Public Improvements in a form and substance acceptable to the Developer and the City. All such easements and licenses shall be duly executed and, if necessary, recorded, prior to the commencement of construction. Notwithstanding the foregoing, the Developer agrees that all Public Improvements shall be constructed within publicly dedicated rights-of-way, on public lands or in publicly dedicated easements or in private easements granted to the City by owners of real estate provided. If the City has not fulfilled its responsibility to obtain the required off-site easements 5 and licenses, and the Developer requests Final Plat approval, the approval shall be given if the Developer can provide the City with assurances that all such licenses or easements will be acquired. 3.5 Conformance to Federal, State, and Local Requirement. Subject to the provisions of the Entitlement Documents, all work with respect to the Public Improvements shall conform to all applicable ordinances, codes, rules and regulations in effect as of the date of this Agreement and all applicable federal, state and local laws, regulations, codes, rules and ordinances including, without limitation, the City's Subdivision Control Ordinance as of ; provided, however, that the City may not adopt any ordinances, rules or regulations which discriminate against the Developer or which will cause the cost of the Public Improvements to increase. 3.6 Insurance. Prior to commencement of construction of the Public Improvements, the Developer shall cause to be procured and delivered to the City, at the Developer's sole cost and expense, and shall maintain in full force and effect until construction of the Public Improvements has been completed, commercial liability insurance and, during any period of construction, contractor's liability insurance and worker's compensation insurance, with liability coverage under the commercial liability insurance of not less than One Million Dollars per occurrence and Two Million Dollars in the aggregate (which may be in the form of umbrella coverage) and limits under the other policies of insurance in accordance with statute, all such policies to be in such form and issued by such companies as shall be reasonably acceptable to the City, to protect the City and the Developer against any liability incidental to the use of, or resulting from, any accident occurring on or about the Public Improvements or the construction of an improvement thereof. Each such policy shall name the City as an additional named insured party. 3.7 Rights of Inspection. During construction of the Public Improvements, the City or its designee shall have the right at any time and from time to time to enter upon the Property for the purpose of conducting such inspections as the City may deem appropriate. In the event that the City or its designee discovers a defect or deficiency in the construction of the Public Improvements, the City or its designee shall promptly notify the Developer thereof. Any such inspection by the City of the Public Improvements shall not be construed as a representation by the City that there has been compliance with the Construction Plans or that the Public Improvements will be or are free of faulty materials or workmanship, or as a waiver of any right that the City or any other party may have against the Developer or any other party for failure to comply with the Construction Plans or the provisions of this Agreement. 3.8 Security for Public Improvements. The City hereby agrees that no security shall be required for that portion of the cost of the Public Improvements that are paid, or to be paid, from the Bond Proceeds. To the extent the Bond Proceeds are insufficient to pay for the cost of the Public Improvements (the "Insufficient Amount"), then, the Developer will provide the City with a performance bond for the Insufficient Amount in an amount not to exceed 110% of the Insufficient Amount. In the event that the Bond Proceeds are insufficient to complete the Public 6 Improvements, the City may draw upon the performance bond for payment of any Public Improvements according to the procedures set forth in its subdivision code. 3.9 Acceptance of Public Improvements. The City's acceptance of the Completed Improvements shall be in accordance with the following provisions. (a) Upon completion of the Public Improvements or designated phases of the Public Improvements ("Completed Improvements"), the Developer shall submit a written request to the City requesting an inspection of the Completed Improvements. (b) The City shall within five (5) business days conduct an inspection of the Completed Improvements. If upon inspection by the City or its designee ("Inspector") the Completed Improvements are deemed sufficient by the inspector, the City shall within 2 business days of the inspection send a written Certificate of Completion and Acceptance ("Certificate") to the Developer indicating the City's acceptance of the Completed Improvements. (c) Should the Inspector determine that the Completed Improvements are inadequate, the City shall within five (5) business days send written notice to the Developer specifically and completely identifying all claimed inadequacies, for which the Developer will have five (5) business days to remedy, subject to the Unavoidable Delay provisions of Article 8. (d) Should the City upon written request by the Developer fail to inspect the Completed Improvements within the time period designated above or to send either a Certificate or a notice identifying all claimed inadequacies, subject to the Unavoidable Delay provisions identified in Article Eight, at that time the Completed Improvements shall be deemed accepted by the City. 3.10 Density. In no event shall any ordinance of the City, amend the Entitlement Documents nor shall the Developer be required to draw any subdivision plat in such a way as to result in less than Dwelling Units being permitted to be constructed on the Property unless mutually agreed in writing by the City and the Owner. In the event that there is a reduction in density caused as a result of such an agreement between the City and the Owner, the Owner shall prepay Special Taxes in the amount attributable to the reduction in density. 3.11 Administration of SSA. The City shall contract with an administrator or consultant to administer the Special Service Area Number 2003-100, including, without limitation, calculation, levy, abatement, administration and collection of the special tax for said Special Service Area Number 2003-100, on such terms as shall be reasonably agreed to between the parties. The costs related to the Administration of the Special Service Area Number 2003-100 shall be payable from the special tax collections. 7 ARTICLE FOUR Developer Indemnification of the City The Developer agrees to indemnify, defend and hold the City and its officers, employees, attorneys, engineers and consultants harmless from and against any claim, action, suit, proceeding, loss, cost, damage, liability, deficiency, fine, penalty, punitive damage, or expense (including, without limitation, reasonable attorneys' fees), to the extent resulting from, arising out of, or based upon: (i) any breach or default on the part of the Developer in the performance of any of its obligations under or in respect of this Agreement; (ii) any act of negligence of the Developer or any of its agents, contractors, servants or employees; or (iii) any violation by the Developer of any easements, law, ordinances or codes affecting the Area, the City Property, the Development or the Public Improvements. In case any such claim shall be made or action brought based upon any such claim in respect of which indemnity may be sought against the Developer, upon receipt of notice in writing from the City setting forth the particulars of such claim or action, the Developer shall assume the defense thereof including the employment of counsel reasonably acceptable to the City and the payment of all costs and expenses. The City shall have the right to employ separate counsel in any such action and to participate in the defense thereof,but the fees and expenses of such counsel shall be at the expense of the City. ARTICLE FIVE Payment for Public Improvements 5.1 Improvements to be Constructed. a. Request for Payment. The Developer may submit to the City Engineer or his designee and send a copy to the Consultant (as defined in the Trust Indenture) not more frequently than once each calendar month, a written request as provided in Exhibit C ("Request for Payment") for payment of the Developer's costs of constructing those portions of the Public Improvements which have been completed to date and/or for the payment or reimbursement of other costs shown on Exhibit B, including the cost of the acquisition of title to, or easements with respect to, land on which Public Improvements are located or are to be located. the City Engineer shall inspect each portion of the Public Improvements for which payment is requested and shall, within five (5) business days after submission of a Request for Payment, make its inspection and, if the City Engineer confirms that the work for which payment is requested has been done, the City Administrator shall execute and deliver to the Developer and to the Trustee a written statement in the form attached hereto as Exhibit D ("Disbursement Request") approving the payment of funds as provided therein. b. Denial of Compliance. If, in the City Engineer's reasonable opinion, any portion of the work is not in compliance with the Construction Plans, the City Engineer shall within five (5) business days after submission of a Request for Payment notify the Developer in writing of (1) the specific improvements which it believes are not in compliance with the Construction Plans, (2) the reasons why it believes that the work is not in compliance with the Construction 8 Plans and (3) the reasons why it is not approving a portion or all of the requested disbursement together with reasonably detailed explanations thereof However, to the extent that the Request for Payment relates to multiple Public Improvements and the City Engineer confirms that some of the Public Improvements addressed by the Request for Payment are complete, the City Administrator shall execute and deliver to the Developer, the Consultant and the Trustee a Disbursement Request for the Public Improvements which have been completed. c. Release of Funds. At such time as work covered by a Request for Payment is approved by the City Engineer, subject to the provisions of the Trust Indenture, the City Administrator shall deliver a Disbursement Request to the Trustee directing the Trustee to disburse to the Developer the amount of funds provided for in the Disbursement Request to the extent that funds are available in the Improvement Fund. 5.2 Conditions Precedent to Payment. The City Engineer shall authorize the distribution of funds by the Trustee to the Developer to pay for those portions of the Public Improvements which have been completed upon satisfaction of the following conditions: a. The Developer has submitted to the City Engineer, with a copy to the Consultant, a Request for Payment with respect to such portions of the public improvements and the City Engineer has issued, or is required to issue, a Disbursement Request to the Trustee with respect thereto; b. The Developer has caused a title insurance company licensed to do business in Illinois ("Title Company") to issue to the Trustee and the City Engineer a letter of commitment whereby the Title Company insures the Trustee and the City from any and all mechanic's lien claims with respect to work covered by the Disbursement Request. Alternatively, the Developer may request that the City Engineer direct the Trustee to disburse the funds into a construction escrow account with the Title Company with directions that the Title Company shall not release any funds to any subcontractor or materialmen unless and until appropriate lien waivers and supporting affidavits to the satisfaction of the Title Company have been received by the Title Company; and c. Subject to the Unavoidable Delay provisions of Article Eight and the Notice and cure provisions of Section 11.3 of this Agreement, the Developer is not in default under this Agreement. 5.3 Bond Proceeds. a. The Bond Proceeds shall be deposited, held, invested, reinvested and disbursed as provided in the Trust Indenture. Sufficient Bond Proceeds shall be deposited in the Improvement Fund, which, together with anticipated interest earnings, will fully fund the budgeted amounts set forth in Exhibit B under the heading "Bond Proceeds" for the Public Improvements. Monies in the Improvement Fund shall be withdrawn therefrom in accordance 9 with the provisions of the Trust Indenture and the applicable provisions of this Agreement for payment of all or a portion of the cost of constructing the Public Improvements under the heading Bond Proceeds. The Developer understands and agrees that the City alone shall deliver to the Trustee a direction as to the investment of funds on deposit in the funds and accounts established by or pursuant to the Trust Indenture, including the Improvement Fund; provided, however, the City shall consult with the Developer so long as the Developer or its affiliate is the legal or beneficial owner of at least (75%) of the lots improved, or to be improved, with the Dwelling Units as to the investment of such funds so long as there are funds available in the Improvement Fund. b. Except in the event of fraud or gross negligence, the City shall have no responsibility whatsoever to the Developer with respect to any investment of funds made by the Trustee under the Trust Indenture, including any loss of all or a portion of the principal invested or any penalty for liquidation of investment. Any such loss may diminish the amounts available in the Improvement Fund to pay the cost of constructing the Public Improvements. The Developer further acknowledges that the obligation of any owner of real property in the Development, including the Developer to the extent it owns any property in the Development, to pay special service area taxes is not in any way dependent on the availability of amounts in the Improvement Fund to pay for all or any portion of Public Improvements. The Developer acknowledges that any lack of availability of amounts in the Improvement Fund to pay the cost of constructing the Public Improvements shall in no way diminish any obligation of the Developer with respect to the construction of the Public Improvements in accordance with this Agreement or any other agreement relating to the Development and to which the Developer is a party. c. The City agrees not to initiate or approve any amendment to the Trust Indenture that affects the Improvement Fund without the express written consent of the Developer. 5.4 Limited Liability of City. The Developer agrees that any and all obligations of the City arising out of or related to this Agreement are special and limited obligations of the City and the City's obligations to make any payments under this Agreement are restricted entirely to the monies, if any, in and available for disbursement from the Improvement Fund and from no other source. Except in the event of fraud or gross negligence, no member of the Corporate Authorities, or any City staff member, employee or agent, or consultant, including attorneys and engineers, shall incur any liability under this Agreement to the Developer or any other party in their individual capacities by reason of their actions under this Agreement or the execution of this Agreement. 5.5 Acknowledgement. The City agrees, upon written request by the Developer, within five (5) business days, to send a letter acknowledging that construction of the improvements has begun and furthermore, the City acknowledges that as of the date hereof, the Developer is expending funds in the pursuit of constructing the Public Improvements. 10 ARTICLE SIX Other Agreements 6.1 Continuing Disclosure. The Developer agrees to provide to the City (except as otherwise provided), the underwriter of the Bonds, and the Notice Beneficial Holders and the Consultant (as defined in the Trust Indenture) certain continuing information concerning the development of the Property until such time as (90 percent) of the Dwelling Units are subject to contracts for sale. This information includes the following: quarterly reports to the City, the underwriter of the Bonds, the Notice Beneficial Holders, and the Consultant setting forth (A) the number of single-family detached homes and/or bulk property sales, (B) the number of Dwelling Units constructed on the Property, (C) a description of the Dwelling Units sold and the range of sales prices for such homes, (D) a description of the number of sales of homes closed, (E) any pending litigation which would adversely affect the ability of the Developer to develop the Property or to pay the Special Tax for Special Service Area Number 2003-100, (F) any material change in the structure or ownership of the Developer, (G) any failure of the Developer or affiliate of the Developer to pay by the date due general ad valorem property taxes, the Special Tax for Special Service Area Number 2003-100, or any other governmental charge on the Property, (H) any denial or termination of credit, (I) any denial or termination of, or default under, any letter of credit, line of credit or loan or any other loss of a source of funds that the Developer has reason to believe is likely to have a material adverse effect on the ability of the Developer to develop the Property, (J) the occurrence of any event of bankruptcy with respect to the Developer or any affiliate of the Developer, (K) any significant amendments to land use entitlements for the Property if such amendments are likely to prevent or delay the development of the Property, (L) any previously undisclosed governmentally-imposed preconditions to commencement or continuation of development of the Property if such preconditions are likely to prevent or delay the development of the Property, (M) any previously undisclosed legislative, administrative or judicial challenges to development of the Property or the collection of the Special Tax for Special Service Area Number 2003-100, and (N) any changes of which the Developer is aware, if material, in the alignment, design or likelihood of completion of significant public improvements affecting the Property, including major thoroughfares, sewers, water conveyance systems and similar facilities. Quarterly reports shall be made available within 30 days after the end of each calendar quarter. In addition, the Developer shall use its best efforts to provide prompt notice of any of the events listed in (E) through (N). Until such time as (90%) of the Dwelling Units are subject to contracts for sale as verified in writing by the Developer to the City and the Underwriter, upon prior written notice to Developer by the Notice Beneficial Holders, Developer shall make its current annual financial statements available for review by the Notice Beneficial Holders at Developer's offices. 6.2 Amendment to Entitlement Documents. To the extent any amendments to the Entitlement Documents are necessary, the City and the Developer agree to work together and use their best efforts to amend those certain Entitlement Documents, to incorporate the relevant provisions of this Agreement as they apply to the Property; provided, however, that no such amendments nor any future amendments shall materially affect the rights of the Special Service Area Number 2003-100 bondholders. No such amendment shall result in an increase in the special taxes owed by property owners pursuant to the Rate and Method. 11 6.3 Sale of the Property. The City agrees that the Developer shall have the right to either build on the Subject Property or sell developed lots to other builders or to convey any or all of the property at any time after the date of this Agreement. The Developer shall notify the Purchaser (as defined in the Trust Indenture), the City and the Consultant prior to the sale of any portion of the property other than the sale of an individual Dwelling Unit. 6.4 Additional SSA/Bonds. Provided that the Developer complies with the provisions of this Agreement and does not take any actions inconsistent with the RMA, at the request of the Developer the City shall establish a separate SSA for the balance of the real estate which is subject to the Sale Agreement and issue Bonds on terms and conditions and for uses which are similar to those provided for herein. ARTICLE SEVEN Authority 7.1 Powers. Each Party hereby represents and warrants to the other Party that the Party making such representation and warranty has full constitutional and lawful right, power and authority, under currently applicable law, to execute, deliver and perform the terms and obligations of this Agreement, and all of the foregoing have been or will be duly and validly authorized and approved by all necessary City proceedings, findings and actions and all necessary Developer actions. Accordingly, this Agreement constitutes the legal, valid and binding obligation of the City and the Developer, enforceable in accordance with its terms and provisions and does not require the consent of any other governmental authority. 7.2 Authorized Parties. Whenever under the provisions of this Agreement and other related documents and instruments or any supplemental agreements, any request, demand, approval, notice or consent of the City or the Developer is required, or the City or the Developer is required to agree or to take some action at the request of the other party, such request, demand, approval, notice or consent, or agreement shall be given for the City, unless otherwise provided herein, by the City President or his or her written designee and for the Developer by its President, or his written designee; and either party shall be authorized to act on any, such request, demand, approval, notice or consent, or agreement or other action and neither party hereto shall have any complaint against the other party as a result of any such action taken. ARTICLE EIGHT Unavoidable Delays The time for performance by Developer shall be extended by a period of time equal to the time of delay caused by any of the following reasons (herein called "Unavoidable Delays"): Acts of God, acts of the Public Enemy, or acts of fire, strikes, flood, governmental orders or edicts, governmental rationing or allocation of materials, adverse weather conditions, lockouts, riots, strikes, or any other cause beyond the reasonable control of Developer. 12 ARTICLE NINE Transfer Declaration As required by Article 10(e) of the Development Agreement, each Illinois Real Estate Transfer Declaration Form ("Declaration Form") shall reflect the Special Service Area Number 2003-100 financial benefit to that lot so that the full actual consideration for the lot is reflected on the Declaration Form. [Why is this included?] ARTICLE TEN General Provisions 10.1 Rider to Sales Contracts. The Developer agrees to attach the Rider or one substantially similar to it, attached hereto as Exhibit E to all sales contracts for the sale of single- family detached homes. 10.2 Time of Essence. Time is of the essence of this Agreement. 10.3 Breach. A party shall be in "breach of this Agreement" if it shall fail to perform any of its respective obligations under this Agreement and, barring an Unavoidable Delay, after written notice from the other Party of such failure to perform, does not commence performance within thirty (30) days after such notice and diligently prosecute the same to completion. Each of the Parties shall have all remedies available at law or in equity to enforce this Agreement or recover damages in case of a breach of this Agreement beyond any applicable cure periods. 10.4 Amendment. This Agreement, and any exhibits attached hereto, may be amended only by: (i) the agreement of all of the Parties evidenced by a written amendment, with the adoption of an ordinance or resolution of the City approving the written amendment; (ii) as provided by law; or (iii) by the execution of the written amendment by the Parties or their successors in interest. 10.5 Conflict with Prior Agreements. In the event that there is a conflict between this Agreement and the Entitlement Documents, the Entitlement Documents shall control. 10.6 Severability. If any provisions, covenants, agreements or portions 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, agreements or portions of this Agreement and, to that end, all provisions, covenants, agreements or portions of this Agreement are declared to be severable. 10.7 Illinois Law. This Agreement shall be construed in accordance with the laws of the State of Illinois. 13 10.8 Notice. Any notice to be given or served hereunder or under any document or instrument executed pursuant hereto shall be in writing and shall be: (i) delivered personally, with a receipt requested therefor; or (ii) sent by facsimile; or (iii) sent by a recognized overnight courier service; or (iv) delivered by United States registered or certified mail, return receipt requested, postage prepaid. All notices shall be addressed to the Parties at their respective addresses set forth below, and the same shall be effective: (a) upon receipt or refusal if delivered personally or by facsimile; (b) one (1) business day after depositing with such an overnight courier service; or (c) two (2) business days after deposit in the mails, if mailed. A Party may change its address for receipt of notices by service of a notice of such change in accordance herewith. If to the City: Fax: With a Copy to: Fax: If to Developer: Concord Homes, Inc. 1540 East Dundee Road, Suite 350 Palatine, Illinois 60074 Attention: Deborah Tyler Haddad Facsimile: (847)776-2302 With a Copy to: Brian Meltzer Meltzer, Purtill & Stelle LLC 1515 East Woodfield Road, Second Floor Schaumburg, Illinois 60173 Facsimile: (847) 330-1231 If to Seller: Wyndham Deerpoint Homes 605 Lindsay Circle North Aurora, IL 60542 Attn: Richard M. Guerard Facsimile: 10.9 Counterparts. This Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same agreement. 14 10.10 Consent or Approval. Except as otherwise provided in this Agreement, whenever consent or approval of a Party is required, such consent or approval shall not be unreasonably withheld. 10.11 Assignment. At its sole cost and expense, the Developer may collaterally assign its interest in the payments to be received hereunder to a third-party lender who is advancing funds for the payment of the costs of the Public Improvements. The Developer shall notify the City of its intent to collaterally assign its interest in the payment received and said assignment is subject to the reasonable approval of the City. No assignment shall result in any increased costs to the City, unless the City is reimbursed for such increased costs. 10.12 Effective Date. This Agreement shall become effective upon the date first above written by each of the parties. UNITED CITY OF Yorkville, an Illinois municipal corporation By: Its: DEVELOPER: CONCORD HOMES, INC. By: Its: SELLER: WYNDHAM DEERPOINT HOMES By: DEERPOINT HOMES, INC., its General Partner Its: Richard M. Guerard, President 30034\076\Public Infrastructure Agreement For SSA.doc 15 EXHIBIT A LEGAL DESCRIPTION PROPERTY 16 EXHIBIT B Special Services Land Purchase Site Preparation Material Testing Earthwork Sanitary Water Storm Curb&Gutter Paving Utilities Streetscape Hardscape Landscaping Off-site Soft Costs Subtotal 17 EXHIBIT C REQUEST FOR PAYMENT 18 EXHIBIT D DISBURSEMENT REQUEST TO: ,Trustee RE: $ City of Yorkville Kendall County,Illinois Special Service Area Number 2003-100 Special Tax Bonds,Series 2003 Amount Requested: Total Disbursements to Date: 1. Each obligation for which a disbursement is hereby requested is described in reasonable detail in Schedule I hereto together with the name and address of the person, firm, or corporation to whom payment is due, which may include the Developer for reimbursement of amounts expended,and any other payment instructions. 2. The bills, invoices, or statements of account for each obligation referenced in Schedule I are attached hereto as Schedule II. 3. The Issuer hereby certifies that: (a) This written requisition is for payment of costs in connection with the issuance of the above-referenced Series 2003 Bonds and the specific purpose for which this request is made is described in Schedule I. (b) The disbursement is for payment of a Special Service. (c) Such Special Service has been completed in accordance with the terms of the Public Infrastructure Agreement for Special Service Area Number 2003-100. (d) Payment instructions sufficient to make the requested payment are set forth in Schedule I. (e) No portion of the amount being requested to be disbursed was set forth in any previous request for disbursement. (f) As a condition to the disbursement,the Title Company shall issue an endorsement to the title policy in the amount requested to be disbursed. 4. All capitalized terms herein shall have the meanings assigned to them in the Trust Indenture for the above-referenced Series 2003 Special Tax Bonds dated as of by and between the City of Yorkville,Kendall County,Illinois and ,as Trustee. By: Authorized Officer cc: Consultant 19 EXHIBIT E SPECIAL SERVICE AREA FINANCING RIDER TO HOME PURCHASE AGREEMENT RE: Yorkville SSA No. 2003-100 This Rider is attached to and made a part of that Home Purchase Agreement between Concord Homes, Inc., a Delaware corporation ("Seller") and and ("Purchasers") for Lot in Subdivision (the "Home"). Seller and Purchaser hereby agree as follows: Purchaser hereby acknowledges and agrees: (a) The Home is part of the United City of Yorkville Special Service Area No. 2003-100 pursuant to an "Establishing Ordinance" adopted by the United City of Yorkville ("City"), Illinois. The Establishing Ordinance authorized the levy, extension and collection of a Special Service Area Tax upon the Home, in the manner more specifically described below, in connection with certain "Public Improvements" that will confer a special benefit on the Home (including, without limitation, streets, storm and sanitary sewer and a potable water system). In connection therewith, the City, pursuant to a certain "Bond Ordinance", authorized the issuance of municipal bonds to pay for the Public Improvements, including the financing and other costs associated with the funding of the Public Improvements. (b) The Home is subject to the obligation to pay the Special Service Area Tax, which shall be a lien on the Home. This Special Service Area Tax can be levied on the Home each Calendar Year from to and collected each Calendar Year from to . The Maximum Annual Special Service Area Tax on the Home shall first be payable in Calendar Year in the amount of$ . The Special Service Area Tax on the Home may increase by no more than one and one-half percent (1.5%) each year between the first year of the levy and . The maximum Annual Special Service Area Tax on the Home payable in Calendar Year shall be no greater than $ , although it is anticipated that when the Special Service Area is substantially occupied and qualified for rated bonds, the bonds issued pursuant to the Bond Ordinance may be refinanced provided the interest rate for rated bonds provides a Special Service Area Tax that will be lower than the Special Service Area Tax payable prior to such refinancing. (c) It is anticipated that the Special Service Area Tax may be included in the regular real estate tax bills for the Home. If the Special Service Area Tax is billed separately, then it may be billed at different times than regular real estate taxes. (d) That the Special Service Area Tax as may be authorized by the Establishing Ordinance and Bond Ordinance, which accrues on a yearly basis, imposes a lien on the Home that, if not paid as required in a timely fashion, may eventually result in the foreclosure of that 20 lien (similar to the consequences of becoming delinquent on mortgage payments or general real estate taxes). (e) The Purchaser will not object to the validity of the Establishing Ordinance, the Bond Ordinance and the Special Service Area Tax, including any advertisements, notices, hearings or actions provided or taken in connection with the adoption of the Establishing Ordinance and the Bond Ordinance or otherwise, the designation of the Home as part of the Special Service Area pursuant to the Special Service Area Tax Law, the findings in the Establishing Ordinance and the Bond Ordinance that the Public Improvements confer a special service benefit on the Home, the determination that the Public Improvements are of the type that may be financed under the Special Service Area Tax Law and the determination that the formula for apportioning the Special Service Area Tax to the Home is rational in light of the special service benefit conferred upon the Home. (f) That Purchaser, by taking title to the Home, hereby agrees to accept title subject to the Special Service Area and all rights and impositions and obligations thereby imposed, including, without limitation, the Special Service Area Tax, which obligations shall be covenants running with the land. The Deed that Purchaser will receive pursuant to Paragraph of the Home Purchase Agreement shall contain a recitation of such covenants, conditions and restrictions as a permitted exception to title. (g) That the Special Service Area tax will be levied each year to raise funds which will be used to make payments which will become due and payable with respect to the Bonds during the year in which the tax payment becomes due. Thus, for example, the real estate tax bill for the Home for calendar year , which will be issued and will become payable in , will contain a line item for Special Service Area taxes in the amount of$ which will be used to make payments with respect to the Bonds which will become due and payable in . Since the Purchaser is responsible for Purchaser's share of Bond payments for the period from and after the Closing Date, and since the taxes for the year prior to the year in which the Closing Date occurs are levied to cover this obligation, at Closing, the Purchaser will be required to pay to Seller a prorata portion of the Special Service Area Tax on the Home for the year prior to the year in which the closing occurs, prorated from the Closing Date to the end of the year. Also, because all of the Special Service Area taxes levied with respect to the Home for the year of closing will be levied to pay amounts attributable to, and which become payable during, the year after the year of closing, the Purchaser will be required to pay all of the Special Service Area Tax levied on the Home for the year of closing which are due and payable in the following year and Seller will give no proration credit to Purchaser at Closing for any such Special Service Area Tax. (h) This Rider shall be incorporated into and be deemed an integral part of the Home Purchase Agreement. In the event of any conflict between this Rider and the Home Purchase Agreement, the terms of this Rider shall control. 21 (i) Any term capitalized but not otherwise defined in this Rider shall have the meaning ascribed to it in the Home Purchase Agreement to which this Rider is attached. Dated: , 200 PURCHASER: SELLER: CONCORD HOMES, INC. By: Its: 30034\076\Public Infrastructure Agreement For SSA.doc 22 United City of Yorkville County Seat of Kendall County EST.% Aiwa.1836 800 Game Farm Road � - to Yorkville, Illinois 60560 8 il-I - Q Phone:630-553-4350 11 2 Fax:630-553-7575 DATE: May 12, 2003 TO: Tony Graff FROM: Anna B. Kurtzman`"' J - SUBJECT: PC 2003-06 —New Directions Senior Apartment Housing As you know, the applicant for the project listed above has applied for a special use permit in the B-3 zoning district. Upon reviewing the zoning code it was determined that the B-3 zoning district does not permit the type of housing contemplated by the applicant. As a result, staff has recommended that the applicant apply for an R-4 PUD for the following reasons: 1. The applicant is requesting apartments. The R-4 zoning district is the only district that allows apartments by right. 2. The height of the proposed building is in excess of the maximum 25 feet permitted in the R-4 district. As a result, the applicant would need to seek a variance from the height provisions found in the R-4 zoning district. 3. The parking regulations specify that at least 50% of the required parking for apartments be enclosed. The applicant will need to seek a variance to allow 100% of the parking to be uncovered. 4. Staff felt it would be more appropriate to review the entire project as one package as opposed to processing individual variances. Thus, staff felt it would be more appropriate to process this project as a PUD. As you and I discussed, staff should examine the long-term implications for rezoning commercial property to a residential district. Specifically, we should look at a"worst case scenario" within the R-4 zoning district to determine what could develop on this property should something prevent the Senior Housing component from developing. /abk filename: C:\Documents and Settings\Anna\My Documents\Senior Housing.doc r 57/V°3 Ct)1A6C, '74� F21 C C 0fh P'i/ l e /-7-(t r 7is7J UNITED CITY OF YORKVILLE To: Tony Graff, City Administrat r From: Joe Wywrot, City Engineer Subject: New Directions Housing Facillt Date: May 7, 2003 I have reviewed the concept plan for the referenced project and have the following comments: • The property consists of about 3.5 acres on Greenbriar Road. Stormwater detention is required, and is indicated on the concept plan. • Water, sanitary, and storm sewers are available to the property and should be able to provide adequate capacity and/or pressure. • A recapture would be due to the city for water and sanitary sewer improvements constructed along Route 47. There are also recapture agreements in place for Greenbriar Road and the Greenbriar Road watermain, but I believe that this property may be exempt from them. • Sidewalk should be required along the Greenbriar Road frontage. Inland is obligated to extend this sidewalk to Walsh Drive as part of the Sunflower Estates development. • Streetlights were installed at 600' intervals along the north side of Greenbriar Road as part of the Greenbriar Subdivision development. The intent was to have other developers along Greenbriar Road add lighting at a later time to achieve 300' spacing. We should require one or two lights be installed as part of this development. • There should be two parking stalls for each dwelling, one of which must be covered. This project is scheduled for review at Plan Council on May 8, 2003.