HomeMy WebLinkAbout#4073 Approving and authorizing the Execution of A TIF District Redevelopment Agreement CERTIFICATE
THE UNDERSIGNED CERTIFIES THAT SHE IS THE CITY CLERK FOR THE CITY OF
CANTON,ILLINOIS,AND THAT THE CITY COUNCIL AT A REGULARLY CONSTITUTED
MEETING OF SAID CITY COUNCIL OF THE CITY OF CANTON ON THE 18T" DAY OF
APRIL,2017 ADOPTED ORDINANCE NO.4073,A TRUE AND CORRECT COPY OF WHICH
IS CONTAINED IN THIS PAMPHLET.
GIVEN UNDER MY HAND AND SEAL THIS /,J DAY OF APRIL,2017.
(SEAL)
"Pt
'AVLL-ROCK
CITY CLERK
CITY OF CANTON, ILLINOIS
ORDINANCE NO. 4073
AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A
TIF DISTRICT REDEVELOPMENT AGREEMENT
BY AND BETWEEN
THE CITY OF CANTON,FULTON COUNTY, ILLINOIS
AND
RHC INVESTMENTS,LLC
(THE VILLAS OF HOLLYBROOK PROJECT)
PASSED BY THE CITY COUNCIL
OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
ON THE 18T" DAY OF APRIL, 2017
PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY
COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
THIS 181"DAY OF APRIL, 2017
EFFECTIVE: APRIL 18, 2017
CITY OF CANTON, ILLINOIS: ORDINANCE NO.4073
CANTON TIF DISTRICT III
AN ORDINANCE APPROVING AND AUTHORIZING
THE EXECUTION OF A TAX INCREMENT FINANCING
(TIF) DISTRICT REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
RHC INVESTMENTS,LLC
(THE VILLAS OF HOLLYBROOK PROJECT)
The Mayor and City Council of the City of Canton, Fulton County, Illinois, an Illinois
municipality (the"City"),have determined that this Redevelopment Agreement is in the best interest
of the citizens of the City of Canton.
THEREFORE,be it ordained by the Mayor and City Council of Canton, Illinois, in the County of
Fulton, as follows:
1. The TIF Redevelopment Agreement with RHC Investments,LLC(the"Developer")attached
hereto as ExhibitA is hereby approved.
2. The Mayor is hereby authorized and directed to enter into and execute on behalf of the City
said Redevelopment Agreement and the City Clerk of the City of Canton is hereby authorized
and directed to attest such execution.
3. The Redevelopment Agreement shall be effective the date of its approval on the 18th day of
April,2017.
4. This Ordinance shall he in full force and effect from and after its passage and approval as
required by law.
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Page 2 of 4
PASSED APPROVED AND ADOPTED by the Mayor and City Council of the City of Canton this
18`" day of April,2017.
MAYOR AND CITY AYE VOTE NAY VOTE ABSTAIN ABSENT
COUNCIL
Ryan Mayhew X
Tad Putrich X
Craig West X
Gerald Ellis X
Justin Nelson X
John Lovell X
Angela Hale X
Jeff Fritz,Mayor
TOTALS 6 0 1 0
APPROVED: 1s�(�J , Date E>K/,a1f /2017
Mayo
ATTEST: , Date: I / 2y/ 2017
'iry ClWty of-Canton
Attachment: EXHIBIT A. Redevelopment Agreement by and between the City of Canton and RHC
Investments,LLC.
Page 3 of 4
EXHIBIT A
TAX INCREMENT FINANCING
(TIE) DISTRICT REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
RHC INVESTMENTS,LLC
(THE VILLAS OF HOLLYBROOK PROJECT)
Page 4 of 4