HomeMy WebLinkAboutOrdinance #1100F
ORDINANCE. N0. ~ i n n
AN ORDINANCE APPROVING A CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPN~]T
,wv._~t!1 X,~11A~~~.
WHEREAS, the City of Canton has undertaken a program for the redevelopment
of the Central. Business District of downtown Canton; has adopted a Redevelo~zt
Plan and Project (as amended) pertaining to the Redevelopment of the Central
Business District; has designated the Redevelopment Area pertaining to the Central
Business District, and has adopted tax increment financing pursuant to the pro-
visions of tho Real Property Tax Increment Allocation Development Act of the State
of Illinois, Chapter 24, ~ 11-74.401 et seq., Illinois Revised Statutes (1983)
(hereinafter referred to as the Act); and,
WHEREAS, the City of Canton, pursuant to such Act, has the power to dispose
of the property for. private development by negotiated sale after having provided
reasonable opportunity for. the submission of proposals; and,
WHEREAS, the City of".Canton has solicited written alternative proposals for
the use .and development of the affected real property and has received no such
alternative written proposals.
NOW, THEREE'ORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CANTON,
Fulton County, Illinois, as follows:
1. That a certain "Contract for Sale of Land for Private Development", hereto
attached as Exhibit A and herein incorporated by reference, is hereby approved,
ratified and confirmed by the City Council.
2. That .the Mayor, City Attorney,. City Clerk, City Treasurer and all other
City officers are hereby authorized and instructed to take such other and further
measures as may be reasonably necessary to implement the terms and conditions of
said contract.
3. That this Ordinance shall be in full force and. effect immediately upon its
passage by the City Council of the City of Canton, Fulton County, Illinois, and
approval by the Mayor thereof.
PASSED by the City Council of the City of Canton, Fulton County, Illinois at a
regular meeting this 4th day of February 1986, upon a roll call
vote as follows:
AYES: Aldermen Zilly, S,teck, Sarf~, Wor~.mafi, ~ohLer, May,
Chapman,
NAYS: None .
~5~1'f: Alderman Kovachevich,
APPROVED:
~.
Donald E. Edwards, Mayor.
ATTEST:
Nan Whi ,City Clerk
.,j ~~ ~^'
LECxAL~ATOTICE ~ . `
Please take notice that
pursuant to the provi
sions of the Real Propefi- .
ty Tax.InCrement Alloca- '
lion ReH~aveIoptn~ttt Act,
of the State~~af Illinois, ' State of Illinois,
Chapter 24, ~ 1i-72.41 et , ss.
seq„ of fhe illinoi$ Mutai- County of Fulton.
cipal Code, the Clty of Canton Dail Led er Com an a car oration existin
Canton, , Illinois is the ~ Y 9 P Y. P ~ 9
owner of the following and doing business under the laws of the State of Illinois,
real property.; and im• by its duly authorized agent, hereby certifies that it is
proveme~-tsaegally deg '~~ the publisher of the Canton Daily Ledger; that said Can-
senbed as. `' ton Daily Ledger is a secular newspaper, printed and pub-
ALL OF ,THE IAT 6~
AND 5?'IN NATHAN lished each week-day in the city of Canton, County of
BONES' SECOND~ADD`I~ !, Fulton and State of I Ilinois, that the annexed advertise-
TION TO THE CITY OF "I ment was rinted and ublished in the re ular issues of
CANTON, NOIS~ ' P P g
ILLI
WITH THE EXCEPTION
OF THE AREA DE- said newspaper each w~ for_______•~ ...............................
SCRIBED AS FOLLOW: successive Wes. the date of the first paper containing the
Beginning at` the
Northeast Corner of said.
Lot 56; thence West 114 same being the issue dated thes~~__._--._.day of_ .. _ .....
feet; thence South 52'
feet; thence East 40 feet; 19-_~G-_, Number..,l_~J'_.!__of Volume_.7.~.., an the date
thence. South 96 feel; .:;;
thence East 74 feet to the '; of the last paper containing the same being the___J'_!~-
Eastline ofLot 57;thence -.
North 148 feet to the day of... _~....-.19.~~., Number.,! ~' ~ Volume.__~_~
Point of Beginning, and
the South 2~/s feet of the ; ..................: that said Canton Daily Ledger has been reg-
West half of said Lot 57. ularly printed and published for more than six months
Which prooperty is lo- prior to the first publication of said annexed advertise-
ica~ed"'at ttie 3outbea~s~::
corner- of South Msin ment; that the person making this certificate for and in
street and West Pine behalf of said Canton Daily Ledger is fully empowered to
Street and in the dowrn make same for and in behalf of said Canton Daily Led-
towntaxincrementrede• , er is full em owered to make same for and in behalf
velopment area at cam-, 9 Y P
monaddressofllLSou'th of said corporation.
Main Street, Canton; Iiltr- CANTON DAILY LEDGER CO.
nois. .
The City invites writ:" - Bookkeeper
ten proposals for the de: ': ~~
velopment of said prop- BY--- - --- --------- --------------- -------------- ~e'9er
er4y or the use of the im- ~ Pte..
said wrftten t°oposal&~~
must be delivEred to tl~ '° Printer's Fee $ ......................
City Clerk of the City o
Canton, 210 East Chest,
nut Street, Canton, I1 ,;.
nois ,no later than: b
o'cYoci~ 1'.M., 'Tuesdays ~,
February,9~, 1985: ; ,
AIi written proposals ; -
dered as an alternative ta;
the proposed negotiate':
agreement .between the;
City of Canton and Irwin."
N. Rushford.
Nancy Whites,';
` Cfty Clerk
,Tan. 28, Feb. 3, 1986
• - ' (AGREII~iIIVT NO. 4 7 3 )
AGREF~11Vr FOR
SALE OF LAND FOR PRIVATE DEVEIAPMENT
This agreement is made as of the 4th day of February , 1986, by
arld between the City of Canton, a municipal corporation in the State of Illinois
(hereinafter referred to as the "City") and having its offices at 210 East Chestnut
Street, Canton, Illinois, and Irwin N. Rushford, an individual (hereinafter called
"Buyer") and having his office for the transaction of business at 111 South Main
Street, Canton, Illinois.
WITNE.SSEI'H
W'f~REA.S, the City has undertaken a program for the redevelopment of the Central
Business District of downtown Canton; has adopted a Redevelopment Plan and Project
(as amended) pertaining to the Redevelopment of the Central Business District; has
designated the Redevelopment Area pertaining to the Central Business District; and
has adopted tax increment financing pursuant to the provisions of the Real Property
Tax Increment Allocation Development Act of the State of Illinois, Chapt. 24, 11-74,
4-1 et. seq. Ill. Rev. Stats. (1981) (hereinafter referred to as the "Act"); and,
WHEREAS, the City has the power to dispose of the property for private develop-
ment pursuant to said Act by negotiated sale after having provided reasonable
opportunity for the submission of proposals; and,
WHEREAS, the City has offered to sell and Buyer is willing to purchase certain
land and improvements described in Schedule A annexed hereto and made a part hereof
(which property as so described is herein called "Property") and to redevelop the
Property for and in accordance with the terms of this Agreement; and,
Wf~REAS, the City believes that the redevelopment of the Property pursuant to
this Agreement is in the vital and best interests of the City and the health, safety,
morals, and welfare of its residents, and in accord with the public purposes and
provisions of the applicable state and local laws.
NOW, THEREFI~RE, in consideration of the premises and the mutual obligations
of the parties hereto, each of them does hereby conversant and agree with the other
as follows:
SDC. 1 PROPERTY: SALE AMID PURCHASE PRICE; DEVELfJPMQFr
The Property to be conveyed as a result of this Agreeirent shall consist of
the land and improvements thereon described in Schedule A.
Subject to all the terms, convenants and conditions of the Agreirent, the
City will sellthe Property to Buyer for, and Buyer will purchase the Property from
the City and pay therefore, the sum of $14,000.00 hereinafter called "Purchase Price",
to be paid in the following manner:
(a) By a down payment of $4,000.00, the receipt of which is acknowledged by
the City; and,
(b) The balance of $10,000.00 shall be paid by equal annual payments of $2,000.00
each on the first, second, third, fourth and fifth anniversary date of
this agreement, together with interest thereon at the rate of 5~ per annun.
Interest shall cones due and be paid with the principal amount to which it
relates.
Buyer reserves the right to prepay any or all of the unpaid balance of principal
and interest due the City at any time without penalty.
Buyer agrees to continue to redevelop the existing parking lot situated on the
subject property in conformity with the Redevelopment Plan and Project (as amended)
and at Buyer's sole expense. Both the City and Buyer specifically agree that the
redevelopment by Buyer contemplated in this Section forms a part of the mutual con-
sideration supporting this agreement. Buyer agrees to complete all of said redevel-
opment within the five year term for performance established in this agreement.
SDC. 2 CONV~'YANCE OF PROPERTY
(A) Form of Deed.
The City shall convey to Buyer title to the Property by Corporate 6Varranty
Deed (hereinafter called "Deed").
Said conveyance and title shall, be subject to:
(1) Building and use restrictions and requirements and any other use
restrictions and requirements and any other zoning, restrictions,
reservations, easements, and roads, alleys, sidewalks, and other
rights of way of record;
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(2) Such easements as it shall have been necessary for the City to
dedicate or grant, or shall be necessary at the time of conveyance
for the City to reserve, for itself or for future dedication or
grant, for sewers; drains, water and gas distribution lines; electric
and telephone; rights of way and access; and other public or private
utilities and facilities; rights of public utilities or quasi-public
utilities, in and to that part of the Property falling in streets
and alleys, or in and to vacated streets and alleys;
(3) Such defects of title, if any, as cannot be cured and cannot reasonably
be expected to interfere with the purposes for which the Property is
to be acquired;
(4) The terms, convenants, and conditions in the tax increment Redevelopment
Plan for the Central Business District of Canton and as said Plan shall
be amended from time to time.
(B) Time and.Place for Delivery of Deed.
The City shall deliver the Deed to the Property Buyer within 30 days of Buyer's
full perforniance under this agreement. Conveyance shall be made at the principal
office of the City.
(C) Payment of Taxes and Assessments.
1986 real property taxes and special assessments, and all subsequent taxes and
special assessments, if any, shall be paid by the Buyer during the term of this
agreement. 1985 taxes, due and payable in 1986, if any, shall be paid by the City.
(D) Possession.
Possession shall be given upon Buyer's execution and delivery to the City of
this agreement, any doc~mients required under this agreement, and the dawn payment
amount specified in Section 1 of this agreement.
(E) Title Insurance.
Prior to the date of delivery of the Deed, the City shall provide Buyer, at
the City's sole expense, with a title c~imitment and as soon as practical after
conveyance, an Owner's Title Insurance Policy in the amount of the purchase price,
covering the property being conveyed and as described in Schedule A, subject to
the restrictions set forth in this agreement; and the usual and customary reserva-
tions, enctmibranoes or exceptions found in the current Chicago Title Insurance
C.c~npany ALTA Hareaamer's Commitment or defects as are permitted by the Buyer. If
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such title caYnutment discloses unpermitted exceptions, the City shall have
the exceptions removed prior to the date provided for delivery of the Deed or
have the insurer insured against loss and damage incurred thereby.
If the City shall fail to have the exceptions with regard to the tract to
be conveyed, removed or insured against by the date the deed for the respective
tract is to be delivered, Buyer may (a) terminate this agreement; (b) take title
as it then is. If Buyer fails to elect (a) or (b) within 30 days fran the date
of the caYmitment is furnished, this agreement shall becoa~~e null and void without
further action of the parties. Buyer shall have no further cause of action or
claim against the City.
(F) Public Parking Lot Use Agreement - Effect of this Agreement's becoming
null or void. See Section 6 following.
(G) Closing.
The closing shall be at the office of the City at 210 East Chestnut Street,
Canton, Illinois, or, at such other place as shall be designated in writing by
the City.
SEC. 3 DEFAULT.
On the occurrence of any event of default as described below, the City may
declare this agreement a nullity and reenter upon and take possession of the Prop-
erty. Any of the following acts, or, failure to act by Buyer may, without limita-
tion, be regarded as an "event of default" in the sole discretion of the City;
(a) Failure of Buyer to make any payment of principal and intexest as
provided in Section 1 of this agreement; or,
(b) Failure of Buyer to cc~q~lete the parking lot redevelopment within
five (5) years of the date of this agreement in conformity with the Redevelopment
Plan and Project (as amended) previously adopted by the City; or,
(c) Failure of Buyer to pay real estate taxes or assessments on the
Property or any part thereof when due; or,
(d) Buyer placing or allowing any enctm~brance or lien on the Property,
or suffering any levy or attachment to be made, or any materia]man's or mechanics
lien or any other enctiu~rance or lien to attach; or,
(e) Buyer's violation of any state law or City ordinance and said viola-
tion is not corrected after 90 days after written demand of the City so too do; or,
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(f) The occurrence of: (1) Buyer's becc~ning insolvent or bankrupt;
or proceedings for the appointment of a receiver, trustee, or liquidator of
Buyer, or of a substantial part of Buyer's assets, being authorized or instituted
against Buyer; or, (2) proceedings under any bankruptcy, reorganization, readjust-
ment of debt, insolvency, dissolution, liquidation or other similar law being
authorized or instituted by or against Buyer; or,
(g) Any attempt by vuyer to assign any right, title or interest in and
to said Property, or, in and to this agreement; or,
(h) Any continued violation of any portion of this agreement for a
period of more than 30 days after written notification by the City.
SEC. 4 Buyer agrees to make all written reports and furnish documentation
and records requested by the City relative to the enforcement by the City of its
rights hereunder. Such reports, doc~mientation and records shall be furnished at
the time arr3 place specified by the City.
SEC. 5 NOTICES AND DEMAAIDS.
A notice, demand, or other coinrnmication under the agreement by either party
to the other shall be sufficiently given or delivered if it is dispatched by
registered or certified mail, postage prepaid, return receipt requested, or delivered
personally and:
(i) in the case of Buyer, it is addressed to or delivered personally to
Irwin N. Rushford at 111 South Main Street, Canton, Illinois;
(ii)~in the case of the City, it is addressed to or delivered personally to
the City at 210 East Chestnut Street, Canton, Illinois, Attention:
General Counsel
or at such other address with respect to either such party as that party may,
from time to time, designate in writing and forward to the other as provided in
this Section.
SEC. 6 PUBLIC PARKING IAT USE AGREEMQ~IT
Each of the parties recognize that the Property and its present use as a
public parking lot is now subject to a "Public Parking Lot Use Agreement" and to
certain provisions of a "Contract for the Sale of Land for Private Development" in
each of which the parties to this agreement are the sole parties.
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It is hereby mutually agreed that the terms and provisions of the "Public
Parking Lot Use Agreement" and the "Contract for the Sale of Land for Private Devel-
opment", to the extent they affect this agreement, or, the Property shall be held in
abeyance during the term of this agreement and, upon Buyer's full performance under
this agreement shall be deemed to be null and boid with respect to the Property.
In the event Buyer fails to fully perform under this agreement, all payments
made to the City by Buyer shall be retained by the City. The City may elect to keep
such payments as liquidated damages and to reassert the provisions of the "Public
Parking Lot Use Agreement" and the "Contract for the Sale of Land for Private Devel-
opment" which are naw, or may hereafter, pursuant too this agreement, be held in
abeyance; or, may elect to pursue any other legal remedy it may have, to include
the remedy of specific performance.
During the term of this agreement, or, until Buyer has sooner fully performed,
the Property shall continue to retain its character as a public parking lot facility
for public use and the non-exclusive use of Buyer's employees, customers, and tenants.
During the term of this agreement Buyer shall be responsible for all maintenance
and upkeep of the Property.
SEC. 7 This Agreement shall be binding on the successors and assigns of the
parties hereto.
IN WITNESS Wf~DOF, THE PARTIES HAVE CAUSID THEIR SIC~TATURE TO BE AFFIL
HEREPO alV THE DATE AFORESAID.
CITY OF CAN'IC7IV, ILLIl~TOIS
_ }
,F
ATTEST: ~i Mayor
ity Clerk
BUYER
Irwin N. Rus rd
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EXHIBIT A
All of the Lot 56 and 57 in Nathan Jones'
Second Addition to the City of Canton,
Fulton County, Illinois, with the exception
of the area described as follows:
Beginning at the Northeast corner of said
Lot 56; thence West 114 feet; thence South
52 feet; thence East 40 feet; thence South
96 feet; thence East 74 feet to the East
line of Lot 57; thence North 148 feet to the
Point of Beginning, and the South 2~ feet of
the West half of said Lot 57.