Ordinance 2011-07 STATE OF ILLINOIS )
COUNTY OF KENDALL )
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RECORDED: 4/4/201111:55 AN
ORDI: 65.00 RHSPS FEE: 10.00
Ordinance No. 2011- O-A PAGES: 26
AN ORDINANCE AUTHORIZING THE EXECUTION
OF THE FIRST AMENDMENT TO AND REINSTATEMENT
OF A DEVELOPMENT /ECONOMIC INCENTIVE AGREEMENT
DTD INVESTMENTS, LLC
(Fountainview)
WHEREAS, it is prudent and in the best interest of the United City of Yorkville,
Kendall County, Illinois, that an amendment to the certain Development /Economic Incentive
Agreement pertaining to the development of real estate described therein (the "Subject
Property ") be adopted in order to permit the commercial development contemplated in said
Development /Economic Incentive Agreement to proceed; and,
WHEREAS, the statutory procedures provided in 65 ILCS 5/11- 15.1 -1, as amended, for
the execution of the First Amendment to and Reinstatement of the United City of Yorkville
and DTD Investments, LLC (Fountainview) Development /Economic Incentive Agreement
have been fully complied with.
NOW, THEREFORE, BE IT ORDAINED by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Section 1. The First Amendment to and Reinstatement of the United City of Yorkville
and DTD Investments, LLC (Fountainview) Development /Economic Incentive Agreement in
the form presented to this meeting attached hereto and made a part hereof is hereby approved;
and the Mayor and the City Clerk are herewith authorized and directed to execute, on behalf of
the City, said First Amendment to and Reinstatement of the United City of Yorkville and DTD
Investments, LLC (Fountainview) Development /Economic Incentive Agreement.
Section 2. This Ordinance shall be in full force and effect immediately from and after
its passage and approval according to law.
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this
X01 day of , A.D. 2011.
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ROBYN SUTCLIFF DIANE TEELING
GARY GOLINSKI ARDEN JOSEPH PLOCHER�
WALTER WERDERICH MARTY MUNNS
ROSE ANN SPEARS GEORGE GILSON JR. y
Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
this A day of FORUM -V 2011.
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MAYOR
Prepared by and Return to:
United City of Yorkville
800 Game Farm Road
Yorkville, IL 60560
FIRST AMENDMENT TO AND REINSTATEMENT OF THE
UNITED CITY OF YORKVILLE AND DTD INVESTMENTS, LLC (FOUNTAINVIEW)
DEVELOPMENT /ECONOMIC INCENTIVE AGREEMENT
This First Amendment and Restatement dated this day of February, 2011 (the "First
Amendment ") amending the United City of Yorkville and DTD Investments, LLC
(Fountainview) Development/Economic Incentive Agreement dated April 24, 2007 (the
"Original Agreement'), is by and between the United City of Yorkville (the "City "), and DTD
Investments, LLC (the "Owner /Developer ").
RECITALS:
WHEREAS, the Owner /Developer owns certain property in the City which was the
subject of the Original Agreement; and,
WHEREAS, the Owner /Developer has proceeded to develop the real property located in
the City at the northeast corner of the intersection of Route 47 and Fountainview Drive, legally
described in Exhibit A (the "Property "), which is zoned for business uses ( "Development
Project") all as set forth in the Original Agreement; and,
WHEREAS, the Owner/Developer has completed the preparation of a plat of subdivision
and the construction of a structure to be used as an auto body shop, however, the final plat of
subdivision, subdividing the Property into three (3) commercial lots, has not been recorded due
to incomplete infrastructure improvements and, therefore, the City is unable to issue a certificate
of occupancy for the completed structure; and,
WHEREAS, the Owner /Developer must provide security to the City in an amount
sufficient to ensure the completion of all of the required infrastructure improvement for the
Development Project in order to proceed with the recordation of plat of subdivision and the
issuance of a temporary certificate of occupancy by the City; and,
it
WHEREAS, the Owner /Developer has been unable to obtain a letter of credit or a
performance bond and has proposed an assignment of all of the sales tax rebates committed by
the City pursuant to the Original Agreement as collateral for the Owner/Developer's obligation
to complete the infrastructure improvements; and,
WHEREAS, the City and the Owner /Developer are prepared to enter into this First
Amendment in order to clarify the commitments of the City to rebate fifty percent (50 %) of the
sales tax generated from business located on the Property to reimburse the Owner /Developer for
twenty percent (20 %) of certain infrastructure improvements ( "Reimbursable Inzprovenients ") as
itemized on Exhibit B attached hereto and made a part hereof and include an assignment of and
pledge of all rebates back to the City as collateral for any Reimbursable Improvement which has
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not been constructed, approved and accepted as a hereinafter set forth.
NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants hereinafter set forth, the City and the Owner /Developer agrees as follows:
Section 1. Incorporation. The recitals hereinabove set forth are incorporated herein as if
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fully restated in this Section 1.
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Section 2. Statutory Findings Affirmed. The City is authorized to rebate sales tax
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pursuant to Section 8 -11 -20 of the Illinois Municipal Code (65 ILCS 5/8- 11 -20) and hereby
restates that the basis for such sales tax rebate for Reimbursable Improvements to the
Owner /Developer in 2007 were as follows:
a. That the Property was vacant in excess of twenty (20) years; and,
b. That the Development Project is expected to create a substantial number of job
opportunities within the municipality; and,
C. That the Development Project will serve to further the development of adjacent
areas; and,
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d. The City has requested that Owner/Developer financially participate in the cost of
design and improvement of Illinois Route 47 and Fountainview Drive adjacent to
the subject real property as well as related on -site and off -site public utility
improvements and site improvements; and,
e. That without the Original Agreement, the Development Project would not be
reasonably possible given the off -site costs imposed by the Illinois Department of
Transportation and the United City of Yorkville; and,
f. That the Owner /Developer meets high standards of creditworthiness and financial
strength; and,
g. That the Development Project will strengthen the commercial sector of the
municipality; and,
h. That the Development Project will enhance the tax base of the City and all related
governmental bodies; and,
i. That the Development Project will generate substantial sales tax and utility tax
revenues to the City; and,
j. That the Original Agreement was made and is hereby amended in the best interest
of the City.
Section 3. Owner /Developer Obligations.
A. Simultaneously with the execution and delivery, or as otherwise stated herein of
this Agreement the Developer shall undertake the following:
(i) Deposit $4,600 with the City for the purpose of street cleaning and street
maintenance;
(ii) Deliver to the City from the County of Kendall the Fountainview Drive
Access, Public Utility and Drainage Easement which has been recorded
with the Kendall County Recorder;
(iii) Payment to the City of outstanding fees in connection with the
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development of the Property in the amount of $18,960.99; and,
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(iv) Payment to the City in the amount of $3,785.34 for the cost of review in
connection with the construction of the building on the Property; and,
(v) Proof of an escrow account established within fourteen (14) days of
approving this Agreement in an amount not less than $91,779.35 with
Chicago Title & Trust Company as security for the completion of all
outstanding items to be constructed in order to issue a temporary
certificate of occupancy for the building which has been constructed on
the Property (the "Punchlist ") and confirmation that the City has authority
to withdraw any sum from such escrow as deemed necessary to complete
the Punchlist. The Developer shall notify the City no less than twenty -four
(24) hours prior to the closing of the property of the date, time and
location of where said closing shall take place, and have the right to attend
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or send a representative to the closing.
Section 4. Financial Incentives.
A. The City acknowledges that certain incentives through the rebate of "Sales Tax"
(as hereinafter defined) to the Owner /Developer pursuant to the terms and
conditions set forth below are necessary in order induce the Developer to proceed
with the Development Project and the City hereby agrees to reimburse the
Developer twenty percent (20 %) of the actual cost of the Reimbursable
Improvements as itemized and estimated on Exhibit B. plus interest thereon at the
rate of three points above the prime rate as set by the Old Second Bank - Yorkville
accruing from the date of payment by the Owner /Developer of any Reimbursable
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Improvement as evidenced by paid invoices and lien waivers. Interest shall be
calculated annually.
B. Following completion of the construction of any of the Reimbursable
Improvements, the Owner /Developer shall provide the City with a sworn
contractor's affidavit stating the cost of each such Reimbursable Improvement
j and final lien waivers.
Section S. Sales Tax Defined; Payment Obligation.
A. The term "Sales Tax" shall mean the tax imposed at the rate in effect as of the
date of this First Amendment pursuant to Section 2 of the Illinois Retailers'
Occupation Tax Act (35 ILCS 120/1 et seq.) (the "Tax Act ") upon persons
engaged in the business of selling at retail tangible personal property as set forth
in the Tax Act.
B. The City hereby agrees to rebate to the Owner /Developer fifty percent (50 %) of
the Sales Tax generated from any business located on the Property at the rate of
one percent (1 %) as currently in effect as reimbursement to the Owner /Developer
for twenty percent (20 %) of the Reimbursable Improvements plus interest as
hereinabove set forth. Payments shall be made to the Owner /Developer within
thirty (30) days of receipt of the Sales Tax from the Illinois Department of
Revenue ( "DOR ") which tax is currently received quarterly.
C. Reimbursement of Reimbursable Improvements shall be made solely from Sales
Tax generated from any business operating on the Property whether or not the
Property or any portion thereof, has been sold by the Owner /Developer to a third
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party. In the event no business operating on the Property is required by law to
collect and remit Sales Tax pursuant to the Tax Act, no sums shall be due and
owing by the City to the Owner /Developer.
Section 6. Reimbursement Procedures.
A. The Owner /Developer agrees to cause all businesses located at the Property to
execute and deliver to the City a written direction, in form and content acceptable
to the City and DOR, authorizing DOR to release to the City the Sales Tax paid
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by such business at any time during the term of this Agreement. Should DOR
cease to release the sales tax information to the City, or the Owner /Developer fails
to obtain the authorization necessary to receive a report on the Sales Tax
generated, the Owner /Developer shall be solely responsible to undertake any
further action to obtain the information regarding Sales Tax paid by any business.
B. In the event DOR fails to submit to the City the information regarding the amount
of Sales Tax generated from businesses located on the Property, the
Owner /Developer shall cause such businesses to contemporaneous with the filing
of sales tax returns with DOR, furnish to, the City copies of any and all sales tax
returns or sales tax reports, filed with DOR certified as being true and correct, in
order to identify the Sales Tax revenues paid.
C. The City acknowledges and agrees that the information to be provided hereunder
are proprietary and to the extent permitted by state or federal law, including, but
not limited to, Section 7 of the Illinois Freedom of Information Act, the City
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agrees to hold in confidence all sales figures and other information provided by
Owner /Developer about businesses. The City shall be permitted to disclose such
information (i) to its agents or employees who are reasonably deemed by the City
to have a need to know such information for purposes of this First Amendment;
provided, that such agents and employees shall hold in confidence such
information to the extent required by state of federal law. The confidentiality
requirements of this First Amendment shall survive any expiration, termination or
cancellation of this First Amendment and shall continue to bind the City, its
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successors, assigns and legal representatives for a period of five (5) years from the
termination, expiration or cancellation of this First Amendment.
D. Each rebate by the City to Owner /Developer shall be accompanied by a statement
executed by the City Finance Director, setting forth the calculations of such
payment and identifying the period to which the payment relates.
Owner /Developer shall have thirty (30) days following the receipt of said
payment to contest any of the calculations or information contained in said
statements. Owner /Developer shall have the right to review said reports of Sales
Tax provided to the City by DOR relating to any business located on the Property
but only with the written authorization from such business.
Section 7. Assignment of All Rights of Owner /Developer.
A. The Owner /Developer hereby acknowledges that pursuant to City ordinances, rules
and regulations, all developers of real estate must provide the City with security
sufficient to guaranty the completion of all Land Improvements either by a letter of
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credit payable to the City or a payment or performance bond callable by the City.
The Owner /Developer further acknowledges that security in the amount of
$199,784.86 is due to the City to guarantee completion of all Land Improvements;
however, the Owner /Developer is unable to provide such security in a form
acceptable to the City but is willing to assign all of the Owner /Developer's right to
the rebate of any Sales Tax pursuant to this First Amendment until such Land
Improvements are completed and accepted by the City or the amount of Sales Tax
otherwise payable as rebates to the Owner /Developer have been accumulated by the
City to total $199,784.86 and has been set aside to pay the cost of any incomplete
Land Improvements.
B. The Owner /Developer hereby assigns to the City its rights, title and interest to the
rebate of $199,784.86 of the Sales Tax pursuant to this First Amendment and the
City, in consideration of such assignment for the purpose of permitting the City to
complete all required Land Improvements, hereby agrees to proceed to record the
final plat of subdivision for the Property and issue a temporary certificate of
occupancy for the completed building.
C. As a result of such assignment by the Owner /Developer as hereinabove agreed, the
City shall deposit into a special fund designated as the "Fountainview Sales Tax
Rebate Fund" all rebates of Sales Tax due to the Owner /Developer pursuant to the
First Amendment until the first to occur:
(i) Completion of all Such Land Improvements by the Owner /Developer and
acceptance thereof by the City; or,
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(ii) Accumulation of $199,784.86 in the Fountainview Sales Taxes Rebate
Fund.
Section 8. Use of Funds in the Fountainview Sales Tax Rebate Fund.
A. The Owner /Developer hereby covenants and agrees to complete all Land Subdivision
Improvements on or before December 31, 2012, subject to Force Majeure as set forth
in Section 9 hereof. In the event the Owner /Developer fails to complete the aforesaid
improvements, the City may proceed and the Owner /Developer hereby authorizes the
City to proceed in the event the City determines it to be in the best interest of its
residents:
(i) To utilize all funds as deemed necessary and credited to the Fountainview Sales
Tax Rebate Fund to pay any cost in connection with the completion of the Land
Improvements; and,
(ii) To make such improvements having all rights of access and ingress to the
Property and any other right required by law to enter upon the Property and
undertake the planning, construction and completion of such improvements.
(iii) Upon completion of the Land Improvements and payment therefore, all rebates of
Sales Tax as provided herein shall be made to the Owner /Developer until the
Owner /Developer has received through the rebate of Sales Tax generated from
businesses at the Property in an amount equal to twenty percent (20 %) of the cost
of the Reimbursable Improvements plus interest.
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B. After completion of all Land Improvements, the City shall retain twenty percent
(20 %) of the total cost of the Land Improvements in the Fountainview Sales Tax
Rebate Fund for a one year warranty period.
Section 9. Default, Right to Cure.
A. No party shall be deemed in default hereunder until such Party has failed to cure the
alleged default with ten (10) days in the case of a monetary default, or within thirty
(30) days in the case of a non - monetary default, from notice of such default from the
other Party; provided, however, if the nature of such non - monetary default is such that
it cannot reasonably be cured within such thirty (30) days period, then such Party shall
not be deemed in default if such Party commences to cure such default within such
thirty (30) day period and thereafter diligently prosecutes such cure to completion.
C. In the event of a default and except as may be otherwise provided herein to the
contrary, the non - defaulting party may: (i) terminate this First Amendment upon
written notice to the defaulting party, recover from the defaulting party all damages
incurred by the non - defaulting party; (ii) except as may be otherwise expressly
provided to the contrary herein, seek specific performance of this First Amendment,
and, in addition, recover all damages incurred by the non- defaulting party; (the parties
declare it to be their intent that this First Amendment may be specifically enforced);
(iii) pursue all other remedies available at law, it being the intent of the parties that
remedies be cumulative and liberally enforced so as to adequately and completely
compensate the non - defaulting party.
Section 10. Time; Force Majeure.
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Time is of the essence of this First Amendment; provided, however, a party shall not be
deemed in material breach of this First Amendment with respect to any of such party's
obligations to be performed under this First Amendment, if such party fails to timely perform the
same and such failure is due in whole or in part to any strike, lock -out, labor trouble (whether
legal or illegal), civil disorder, inability to procure materials, wet soil conditions, failure or
interruptions of power, condemnations, riots, insurrections, war, fuel shortages, accidents, floods,
earthquakes, fires, acts of God, epidemics, quarantine restrictions, freight embargoes, acts caused
directly or indirectly by the other party (or the other party's agents, employees) or similar causes
beyond the reasonable control of such party ( "Force Majeure"). If one of the foregoing events
occurs or either party claims that such an event occurred, the party to whom such claim is made
shall investigate and consult with the party making such claim, and the party to whom such claim
is made shall grant any extension for the performance of the unsatisfied obligation equal to the
period of the delay, which period shall commence to run from the time of the commencement of
the Force Majeure; provided that the failure of performance was reasonably caused by such
Force Majeure.
Section 11. Assignment.
This Agreement may not be assigned by the Developer until all Land Improvements have
been completed and in any event this First Amendment may not be assigned without the prior
written consent of the City.
Section 12. Owner /Developer Indemnification.
The Owner /Developer shall indemnify and hold harmless the City, its agents, officers and
employees against all injuries, deaths, losses, damages, claims, suits, liabilities, judgments, costs,
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and expenses (including any liabilities, judgments, costs and expenses and reasonable attorney's
fees) which may arise directly or indirectly from the failure of the Owner /Developer, or any
contractor, subcontractor, agent, or employee thereof (so long as such contractor, subcontractor,
agent, or employee thereof is hired by the Owner /Developer) to timely pay any contractor,
subcontractor, laborer, or materialman, from any default or breach of the terms of this First
Amendment by the Owner /Developer; or from any negligence or reckless or willful misconduct
of the Owner /Developer or any contractor, subcontractor, agent, or employee thereof (so long as
such contractor, subcontractor or agent or employee is hired by the Owner /Developer). The
Owner /Developer shall, at its own cost and expense, appear, defend, and pay all charges of
attorneys, costs, and other expenses arising therefrom or incurred in connection therewith.
Section 13. Limitation of Liability. No recourse under or upon any obligation contained
herein or for any claim based thereon shall be had against the City, its officers, agents, attorneys,
representatives or employees in any amount or in excess of any specific sum agreed to be paid by
the City hereunder, and no liability, right or claim at law or in equity shall be attached to or
incurred by the Village, its officers, agents, attorneys, representatives or employees in any
amount in excess of any specific sums agreed by the City to be paid hereunder and any such
claim is hereby expressly waived and released as a condition of and as consideration for the
execution of this First Amendment by the City. Notwithstanding the foregoing, in the event
either party shall institute legal action against the other party because of a breach of any
agreement or obligation contained in this First Amendment, the prevailing party shall be entitled
to recover all costs and expenses, including reasonable attorneys' fees, incurred in connection
with such action.
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Section 14. Additional Covenants.
A. The Owner/Developer hereby agrees that the City shall not issue any building permit
for construction of any structure on the Property until all Land Improvements shall be
completed and accepted.
B. This First Amendment shall be construed and enforced in accordance with the laws of
the State of Illinois.
C. If any provision of this First Amendment is held invalid by a court of competent
jurisdiction or in the event such a court shall determined that the City does not have
the power to perform any such provision, such provision shall be deemed to be
excised herefrom and the invalidity thereof shall not affect any of the other provisions
contained herein.
D. The parties hereto agree that this First Amendment shall be recorded with the Kendall
County Recorder of Deeds and runs with the land and be binding on all successors
and assigns of the Owner /Developer.
E. Nothing contained in this First Amendment shall be deemed to obligate
Owner /Developer, to open or operate any form of business in the Property for any
period of time or at all.
Section 15. Notices. All notices and requests required pursuant to this Agreement shall
be sent by certified mail as follows:
To Owner /Developer:
DTD Investments, LLC
Attn: Dean Tomich
2250 Weber Road
Crest Hill, Illinois 60435
With a copy to:
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Law Offices of Daniel J. Kramer
1107A S. Bridge Street
Yorkville, Illinois 60560
To the City:
United City of Yorkville
800 Game Farm Road
Yorkville, Illinois 60560
With a copy to:
Kathleen Field Orr
Kathleen Field Orr & Associates
53 West Jackson Blvd.
Suite 935
Chicago, Illinois 60604
Section 16. Authority to Execute. The signatories of the parties hereto warrant that they
have been lawfully authorized by the City Council of the City and the Board of Directors of
Owner/Developer, to execute this First Amendment on their behalf.
Section 17. Attorneys' Fees. If a party commences a legal proceeding to enforce any of
the terms of this First Amendment, the prevailing party in such action shall have the right to
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recover reasonable attorneys' fees and costs from the other party to be fixed by the Court in the
same action.
Section 18. Relationship of the Parties. Nothing herein shall be deemed or construed by
the parties or by any third party as creating the relationship of principal and agent or of
partnership of or joint venture between the parties, it being understood and agreed that no
provision herein, nor any acts of the parties, shall be deemed to create any relationship between
the parties.
Section 19. Term. The term of the Original Agreement was twenty (20) years
commencing on April 24, 2007, and unless otherwise terminated pursuant to Section 7 hereof
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shall terminate on April 23, 2027, which term is hereby confirmed as the term of this First
Amendment.
Section 20. All terms and provisions of this First Amendment shall supersede all terms
of the Original Agreement which are hereby agreed to be cancelled and without effect unless
specifically set forth herein.
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IN WITNESS WHEREOF, the parties hereto have caused this Redevelopment
Agreement to be executed by their duly authorized officers on the above date at Yorkville,
Illinois.
United City of Yorkville, an Illinois
municipal corporation
By: (' � � J. L ( I X
Mayor
Attest:
Q 54R e
DTD Investments, LLC
By:
blz:;
President
Atte
Secretary
Subscribed and r to before me this
s�Y of , 201 .
Notary
Prepared by:
Kathleen Field Orr
Kathleen Field Orr & Associates
53 West Jackson Blvd., Suite 935
Chicago, Illinois 60604
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EXHIBIT "A"
LEGAL DESCRIPTION
THAT PART OF THE SOUTHWEST QUARTER OF SECTION 4 AND PART OF THE SOUTHEAST
QUARTER OF SECTION 5, TOWNSHIP 36 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL
MERIDIAN, DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHEAST CORNER OF THE NORTHEAST QUARTER OF SAID SECTION
5; THENCE SOUTH 89 DEGREES 40 MINUTES 05 SECONDS WEST ALONG THE NORTH LINE OF
SAID NORTHEAST QUARTER, 655.52 FEET TO THE TANGENT CENTERLINE OF ILLINOIS STATE
ROUTE NUMBER 47, EXTENDED FROM THE SOUTH; THENCE SOUTH 1 DEGREE 44 MINUTES 07
SECONDS EAST ALONG SAID TANGENT CENTER LINE AND SAID TANGENT CENTER LINE
EXTENDED, 3511.16 FEET; THENCE NORTH 89 DEGREES 29 MINUTES 40 SECONDS EAST 548.60
FEET FOR THE POINT OF BEGINNING; THENCE SOUTH 89 DEGREES 29 MINUTES 40 SECONDS
WEST ALONG THE LAST DESCRIBED COURSE 548.60 FEET TO THE CENTERLINE OF ILLINOIS
STATE ROUTE NO. 47 AFORESAID; THENCE SOUTH I DEGREE 44 MINUTES 07 SECONDS EAST
ALONG SAID CENTERLINE 489.07 FEET; THENCE SOUTH 86 DEGREES 11 MINUTES 02 SECONDS
EAST 575.53 FEET TO A LINE DRAWN SOUTH 4 DEGREES 21 MINUTES 07 SECONDS EAST FROM
s THE NORTHEAST CORNER OF SAID NORTHEAST HALF OF SECTION 5; THENCE NORTH 04
DEGREES 21 MINUTES 07 SECONDS WEST, ALONG SAID LINE 533.53 FEET TO THE POINT OF
BEGINNING (EXCEPT THE SOUTHERLY 140 FEET, AS MEASURED ALONG THE EAST LINE
THEREOF AND ALSO EXCEPT WARRANTY DEED RECORDED MAY 8, 1990 AS DOCUMENT 902884
AND ALSO EXCEPT THAT PART CONVEYED TO THE STATE OF ILLINOIS, DESCRIBED AS
FOLLOWS:
COMMENCING AT THE NORTHEAST CORNER OF THE NORTHEAST QUARTER OF SAID SECTION
5; THENCE SOUTH 89 DEGREES 40 MINUTES 05 SECONDS WEST ALONG THE NORTH LINE OF
SAID NORTHEAST QUARTER 655.52 FEET TO THE TANGENT CENTERLINE OF ILLINOIS STATE
ROUTE NO. 47 EXTENDED FROM THE SOUTH; THENCE SOUTH 1 DEGREE 44 MINUTES 07
SECONDS EAST ALONG SAID TANGENT CENTERLINE AND SAID TANGENT CENTERLINE
EXTENDED, 3511.16 FEET; THENCE NORTH 89 DEGREES 29 MINUTES 40 SECONDS EAST, 65.00
FEET; THENCE SOUTH 1 DEGREE 44 MINUTES 07 SECONDS EAST, 304.47' FOR THE POINT OF
BEGINNING; THENCE SOUTH 46 DEGREES 44 MINUTES 07 SECONDS EAST, 35.36 FEET; THENCE
SOUTH I DEGREE 44 MINUTES 7 SECONDS EAST, 26.93 FEET; THENCE NORTH 86 DEGREES 16
MINUTES 21 SECONDS WEST, 25.11 FEET; THENCE NORTH 1 DEGREE 44 MINUTES 7 SECONDS
WEST, 49.54 FEET TO THE POINT OF BEGINNING, IN KENDALL COUNTY, ILLINOIS.
Exhibit B
Total Estimated Value of Reimbursable Improvements
Route 47 signalization and highway improvements
$292,972.90
Acquisition and improvements to the joint access easement to the County of Kendall
$ 98,655.50
Extension of the water and sewer stubs to County of Kendall Property
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$ 27,577.50
Stormwater detention
$109,800.00
Engineering, design, and cost of construction of all of the above
$ 52,900.59
$581,906.49
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