HomeMy WebLinkAboutOrdinance#4229 - Redevelopment Agreement between the City of Canton and Anthony Pippen 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 4TH DAY OF MAY, 2021 ADOPTED ORDINANCE NO. 4229, A TRUE AND
CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET.
GIVEN UNDER MY HAND AND SEAL THIS LI DAY OF MAY, 2021.
(SEAL)
DIA' - PA's EY-ROCK
CITY CLERK
CITY OF CANTON, ILLINOIS
ORDINANCE NO. 4229
AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A
TIF REDEVELOPMENT AGREEMENT
BY AND BETWEEN
THE CITY OF CANTON, FULTON COUNTY,ILLINOIS
AND
ANTHONY PIPPEN
PASSED BY THE CITY COUNCIL
OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
ON THE 4TH DAY OF MAY, 2021.
PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY
COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
THIS 4TH DAY OF MAY, 2021.
EFFECTIVE: MAY 4, 2021
CITY OF CANTON, ILLINOIS: ORDINANCE NO. 4229
CANTON 1- DOWNTOWN / 5TH AVENUE
TAX INCREMENT FINANCING (TIF) DISTRICT
AN ORDINANCE APPROVING AND AUTHORIZING
THE EXECUTION OF A REDEVELOPMENT AGREEMENT
BY AND BETWEEN
THE CITY OF CANTON
AND
ANTHONY PIPPIN
BE IT ORDAINED BY THE CITY OF CANTON,FULTON COUNTY,ILLINOIS THAT:
1. The Redevelopment Agreement with Anthony Pippin (Exhibit A attached) 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 4th day of
May,2021.
4. This Ordinance shall be in full force and effect from and after its passage and approval as
required by law.
[the remainder of this page is intentionally blank]
PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton,
Fulton County, Illinois, on the 4`h day of May,2021,and deposited and filed in the Office of the City
Clerk of said City on that date.
MAYOR&ALDERMEN AYE VOTE NAY VOTE ABSTAIN/ABSENT
Angie Lingenfelter X
Andra Chamberlin X
Jeff Fritz X
Craig West X
Justin Nelson X
John Lovell X
Angela Hale X
Kent A. McDowell,Mayor
TOTAL VOTES 7 0 0
4
APPROVED: ►a,A A A A_ s.,
— Date: ("� / � /2021
May , ity of Canto
ATTEST: G°`
��<:::2\ ", ,Date: / /2021
City Clerk, Ci ' of Canton
ATTACHMENTS:
EXHIBIT A. REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF CANTON AND
ANTHONY PIPPIN.
TAX INCREMENT FINANCING DISTRICT
REDEVELOPMENT AGREEMENT
by and between
CITY OF CANTON, FULTON COUNTY, ILLINOIS
and
ANTHONY PIPPIN
CANTON 1 - DOWNTOWN / 5TH AVENUE
TAX INCREMENT FINANCING DISTRICT
MAY 4, 2021
REDEVELOPMENT AGREEMENT
by and between
CITY OF CANTON
and
ANTHONY PIPPIN
CANTON 1- DOWNTOWN / 5TH AVENUE TIF DISTRICT
THIS REDEVELOPMENT AGREEMENT(including Exhibits)is entered into this 4th day of May,
2021, by and between the City of Canton (the "City"), an Illinois Municipal Corporation, Fulton
Counties, Illinois, and Anthony Pippen (the "Developer").
PREAMBLE
WHEREAS, the City has the authority to promote the health, safety and welfare of the City and its
citizens,and to prevent the spread of blight and deterioration and inadequate public facilities,including
sanitary sewer, by promoting the development of private investment in the marketability of property
thereby increasing the tax base of the City and providing employment for its citizens; and
WHEREAS, pursuant to 65 ILCS 5/8-1-2.5, a municipality may appropriate and expend funds for
economic development purposes, including without limitation for commercial enterprises that are
deemed necessary or desirable for the promotion of economic development within the community;and
WHEREAS,pursuant to the Tax Increment Allocation Redevelopment Act,65 ILCS 5/11-74.4 et seq.,
as amended (the "Act"), the City has the authority to provide incentives to owners or prospective
owners of real property to redevelop, rehabilitate and/or upgrade such property by reimbursing the
owner for certain costs from resulting increases in real estate tax revenues ("real estate tax increment")
or from other City revenues; and
WHEREAS, on July 6, 2004, recognizing the need to foster the development, expansion and
revitalization of certain properties which are vacant,underutilized or obsolete or a combination thereof,
the City approved a Tax Increment Financing Redevelopment Plan and Projects, designated a
Redevelopment Area and adopted Tax Increment Financing as provided under the Act for the Canton
International Harvester Site Project Area TIF District (currently known as the "Canton TIF 1 -
Downtown / 5th Avenue TIF District) (hereinafter referred to as the "TIP District"); and
WHEREAS,one such property is located at 406 S.5th Avenue,Canton,Illinois(P.I.N.09-085-35-105-
005 and 09-08-35-105-010)and is within the TIF District Redevelopment Project Area(the"Property");
and
WHEREAS, the Developer has plans to acquire the Property and construct a sports complex
consisting of baseball,softball,soccer,and lacrosse facilities to be located thereon (the"Project"),and
is doing so based on the availability of TIF incentives offered by the City; and
WHEREAS,it is the intent of the City to encourage economic development which will increase the
real estate tax base of the City, which increased incremental taxes will be used, in part, to finance
incentives to assist development within the Tax Increment Financing District; and
WHEREAS,the Developer's proposed Project is consistent with the TIP District Redevelopment Plan
and Projects for the Redevelopment Project Area and further conforms to the land uses of the City as
Anthony Pippin Redevelopment Agreement Page 1
adopted; and
WHEREAS, pursuant to Section 5/11-74.4-4(b) of the Act, the City may make and enter into all
contracts with property owners, developers, tenants, overlapping taxing bodies, and others necessary
or incidental to the implementation and furtherance of the Redevelopment Plan; and
WHEREAS,pursuant to Section 5/11-74.4-4(j) of the Act,the City may incur project redevelopment
costs and reimburse developers who incur redevelopment project costs authorized by a redevelopment
agreement and further defined in Section 5/11-74.4-3(q) of the Act, including those Estimated TIF
Eligible Project Costs as herein listed in the attached Exhibit "1"of this Redevelopment Agreement;
and
WHEREAS, the Developer requested that incentives for the development be provided by the City
from incremental increases in real estate taxes of the City generated within the TIF District and the City
agreed to such incentives; and
WHEREAS, the City has determined that this Project required the incentives requested as set forth
herein and that said Project will,as a part of the Plan,promote the health,safety and welfare of the City
and its citizens by attracting private investment to prevent blight and deterioration and to generally
enhance the economy of the City; and
WHEREAS, the City has reviewed the conditions of the Property and has reason to believe that the
costs of the necessary public and private improvements to be incurred by the Developer in furtherance
of the Project are eligible project costs under the Act and are consistent with the Redevelopment Plan
of the City;and
WHEREAS, the Parties have agreed that the City shall reimburse the Developer an amount not to
exceed Twenty-Four Thousand Dollars and No Cents($24,000.00)as set forth below from the TIF
District Special Tax Allocation Fund for reimbursement of a portion of the Developer's TIF Eligible
Project Costs as described in Exhibit "1"attached hereto;and
WHEREAS, in consideration of the execution of this Agreement, the Developer is completing the
Project as set forth in Exhibit "1'; and
WHEREAS, the City is entering into this Agreement having encouraged and induced the Developer
to proceed with the Project located on said Property.
AGREEMENTS
NOW, THEREFORE, the Parties, for good and valuable consideration, the receipt of which is
acknowledged, agree as follows:
A. PRELIMINARY STATEMENTS
1. The Parties agree that the matters set forth in the recitals above are true and correct and form
a part of this Agreement.
2. Any terms which are not defined in this Agreement shall have the same meaning as they do in
the Act,unless indicated to the contrary.
Anthony Pippin Redevelopment Agreement Page 2
3. The Developer shall complete the Project within twelve (12) months from the date this
Agreement is executed,subject to extension due to Force Majeure(defined below). The Project
will be deemed complete when the sports complex located on the property is complete and is
open and operating.
4. Each of the Parties represents that it has taken all actions necessary to authorize its
representatives to execute this Agreement.
B. ADOPTION OF TAX INCREMENT FINANCING
The City has created the TIF District which includes the Developer's Property. The City has approved
certain Redevelopment Project Costs,including the types described in Exhibit"1"for the Developer's
Project.
C. INCENTIVES
In consideration for the Developer completing the Project as set forth herein,the City agrees to extend
to the Developer the following incentives to assist the Developer's Project:
1. The City shall reimburse the Developer for its TIF Eligible Project Costs as set forth in Exhibit
"1"attached hereto,and verified pursuant to Section E below,from the City's TIF District Special
Tax Allocation Fund an amount not to exceed Twenty-Four Thousand Dollars and No Cents
($24,000.00),payable in Six (6) annual installments as follows:
a. The City shall reimburse the Developer the sum of Four Thousand Dollars ($4,000.00)
within sixty (60) days upon timely completion of the Project and then shall continue to make
reimbursements of $4,000.00 per year on or before the annual anniversary of said Project
Completion of each year thereafter for five (5) additional years.
2. In no event shall the total cumulative reimbursements made by the City to the Developer
hereunder exceed Twenty-Four Thousand Dollars and No Cents ($24,000.00).
3. In the event the Developer fails to timely complete the Project as set forth herein, absent
extensions due to Force Majeure as defined below,any reimbursements which remain due to the
Developer hereunder shall cease and the Developer shall return any reimbursements received by
it hereunder within thirty (30) days upon receiving written notice of the same from the City.
4. In the event the Developer sells or otherwise conveys the Property during the term of this
Agreement any reimbursements which remain due the Developer hereunder shall cease.
5. Once the Project is complete, in the event: (1) the sports complex located on the Property no
longer maintains its consistent and customary use,(2) the Developer files for bankruptcy,or(3)
the Property is the subject of a foreclosure proceeding,the Developer shall not be entitled to any
further reimbursements hereunder.
6. In the event the Developer files any challenge, appeal or other similar action which seeks to
reduce the equalized assessed value of the Property during the Term of this Agreement, and
reimbursements which remain due the Developer hereunder shall cease.
Anthony Pippin Redevelopment Agreement Page 3
D. LIMITATION OF INCENTIVES TO DEVELOPER
1. In no event, shall the maximum cumulative reimbursements for the Developer's TIF Eligible
Project Costs pursuant to Section C above exceed Twenty-Four Thousand Dollars and No Cents
($24,000.00) as set forth herein.
2. The Developer agrees to substantially complete the project,subject to Force Majeure,as defined
below.
E. PAYMENT OF ELIGIBLE PROJECT COSTS
1. Payment to the Developer for TIF Eligible Project Costs as set forth by the Act,shall be made
by a Requisition for Payment of Private Development Redevelopment Costs (Exhibit "2",
"Requisition") submitted from time to time by the Developer to the City's TIF Administrator
Jacob & Klein, Ltd., with copy to The Economic Development Group, Ltd. (collectively the
Administrator), and subject to the Administrator's approval of the costs and to the availability
of funds in the TIF District Special Tax Allocation Fund.
2. All Requisitions must be accompanied by verified bills or statements of suppliers, contractors,
or professionals together with mechanic's lien waivers (whether partial or full) from each of the
parties entitled to a payment that is the subject of the Requisition as required by the City.
3. In order for the Developer to receive reimbursement of Eligible Project Costs for costs it has
incurred in any year as set forth in Paragraphs 1 and 2 above, the Developer must submit such
proposed eligible costs to the City by March 1 of the following year. If there are no accumulated
outstanding costs previously submitted and approved by the City and if the Developer does not
submit such proposed eligible costs by this deadline, the Developer will forfeit reimbursement
of such costs from the prior year's real estate tax increment to be paid in the current year. Any
approved eligible costs submitted after this deadline will be eligible for reimbursement from the
next year's real estate increment receipts.
4. Any real estate increment not required to be paid to the Developer under the terms of Paragraph
3 above shall be available to the City for any purpose set forth in the Plan pursuant to the Act.
5. The Developer shall use such sums as reimbursement for Eligible Project Costs only to the
extent permitted by law and the Act and may allocate such funds for any purpose for the term
of this Agreement or the term of the TIF District,whichever is longer.
6. The Administrator shall approve or disapprove a Requisition by written receipt to the Developer
within thirty(30)business days after receipt of the Requisition. Approval of the Requisition will
not be unreasonably withheld. If a Requisition is disapproved by the Administrator,the reasons
for disallowance will be set forth in writing and the Developer may resubmit the Requisition with
such additional information as may be required and the same procedures set forth herein shall
apply to such re-submittals.
7. All TIF Eligible Project Costs approved shall then be paid by the City from the TIF District
Special Tax Allocation Fund to the Developer, or to others as directed by the Developer,
pursuant to the Redevelopment Plan and as allowed by Illinois Law. Payment shall be made
Anthony Pippin Redevelopment Agreement Page 4
within forty-five(45) days after approval subject to the terms if this Agreement and after receipt
of the increment generated by the Developer's Redevelopment Project from the County.
8. The Parties acknowledge that the determination of Eligible Project Costs, and, therefore,
qualification for reimbursement hereunder are subject to changes or interpretation made by
amendments to the Act, administrative rules or judicial interpretation during the term of this
Agreement. The City has no obligation to the Developer to attempt to modify those decisions
but will assist the Developer in every respect as to obtaining approval of Eligible Project Costs.
F. VERIFICATION OF TAX INCREMENT
1. It shall be the sole responsibility of the Developer or its designee to provide to the City, as
requested in writing, copies of all PAID real estate tax bills, annually, for the Property.
2. The failure of Developer to provide any information required herein after written notice from
the City,and the continued failure to provide such information within(30)days after such notice,
shall be considered a material breach of this Agreement and shall be cause for the City to deny
payments hereunder to the Developer, which payments are conditional upon receipt of the
foregoing information.
G. LIMITED OBLIGATION
The City's obligation hereunder to pay the Developer for Eligible Project Costs is a limited obligation
to be paid solely from the TIF District Special Tax Allocation Fund. Said obligation does not now and
shall never constitute an indebtedness of the City within the meaning of any State of Illinois
constitutional or statutory provision and shall not constitute or give rise to a pecuniary liability of the
City or a charge or lien against any City fund or require the City to utilize its taxing authority to fulfill
the terms of this Agreement.
H. LIMITED LIABILITY OF City TO OTHERS
FOR DEVELOPER'S EXPENSES
There shall be no obligation by the City to make any payments to any person other than the Developer,
nor shall the City be obligated to make direct payments to any other contractor, subcontractor,
mechanic or materialman providing services or materials to the Developer for the Developer's Project.
I. COOPERATION OF THE PARTIES
1. The City and the Developer agree to cooperate fully with each other when requested to do so
concerning the development of the Developer's Redevelopment Project. This includes without
limitation the City assisting or sponsoring the Developer, or agreeing to jointly apply with the
Developer,for any grant,award,subsidy or additional funding which may be available from other
governmental sources as the result of the Developer's or City's activities. This also includes
without limitation the Developer assisting or sponsoring the City, or agreeing to jointly apply
with the City, for any grant,award, or subsidy which may be available as the result of the City's
or the Developer's activities.
2. The Parties agree to take such actions,including the execution and delivery of such documents,
instruments,petitions,and certifications(and,in the City's case,the adoption of such ordinances
Anthony Pippin Redevelopment Agreement Page 5
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.
3. The Parties shall cooperate fully with each other in seeking from any or all appropriate
governmental bodies all approvals (whether federal,state,county or local)required or useful for
the construction or improvement of property and facilities in and on the Property or for the
provision of services to the Property, including, without limitation, wetland mitigation, gas,
telephone,and electric utility services,roads,highways,rights-of-way,water and sanitary sewage
facilities,and storm water disposal facilities.
J. DEFAULT; CURE; REMEDIES
In the event of a default under this Redevelopment Agreement by any party hereto (the "Defaulting
Party"),which default is not cured within the cure period provided for below,then the other Party(the
"Non-defaulting Party"), shall have an action for damages, or, in the event damages would not fairly
compensate the Non-defaulting Parties for the Defaulting Party's breach of this Redevelopment
Agreement, the Non-defaulting Party shall have such other equity rights and remedies as are available
to them at law or in equity.Any damages payable by the City hereunder shall be limited to the real estate
tax increment payable to the Developer under the terms of this Agreement.
In the event a Defaulting Party shall fail to perform a monetary covenant which it is required to perform
under this Redevelopment Agreement,it shall not be deemed to be in default under this Redevelopment
Agreement unless it shall have failed to perform such monetary covenant within thirty(30) days of its
receipt of a notice from a Non-defaulting Party specifying that it has failed to perform such monetary
covenant. In the event a Defaulting Party fails to perform any nonmonetary covenant as and when it
is required to under this Redevelopment Agreement,it shall not be deemed to be in default if it shall
have cured such default within thirty (30) days of its receipt of a notice from a Non-defaulting Party
specifying the nature of the default, provided, however, with respect to those nonmonetary defaults
which are not capable of being cured within such thirty(30) day period,it shall not be deemed to be in
default if it commences curing within such thirty (30) day period, and thereafter diligently and
continuously prosecutes the cure of such default until the same has been cured.
K. TIME; FORCE MAJEURE
For this Agreement,time is of the essence. The Developer agrees to complete the Project within twelve
(12) months following the date of execution of this Agreement. Failure to do so shall be cause for the
City to declare the Developer in default and unilaterally terminate this Agreement. However, the
Developer and the City shall not be deemed in default with respect to any obligations of this Agreement
on its part to be performed if the Developer or City 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,weather conditions wet soil conditions,failure or interruptions of power,
restrictive governmental laws and regulations, condemnation,riots,insurrections,war, fuel shortages,
accidents, casualties, Acts of God, acts caused directly or indirectly by the City (or the City's agents,
employees or invitees) when applicable to Developer or third parties, or any other cause beyond the
reasonable control of Developer or the City.
Anthony Pippin Redevelopment Agreement Page 6
L. ASSIGNMENT
The rights (including, but not limited to, the right to payments contemplated by Section C of this
Agreement) and obligations (or either of them) of the Developer under this Agreement shall not be
assignable unless by written authorization of the City.
M. WAIVER
Any party to this Agreement may elect to waive any remedy it may enjoy hereunder,provided that no
such waiver shall be deemed to exist unless the party waiving such right of remedy does so in writing.
No such waiver shall obligate such party to waive any right of remedy hereunder, or shall be deemed
to constitute a waiver of other rights and remedies provided said party pursuant to this Agreement.
N. SEVERABILITY
If any section,subsection,term or provision of this Agreement or the application thereof to any party
or circumstance shall, to any extent, be invalid or unenforceable, the remainder of said section,
subsection,term or provision of this Agreement or the application of same to parties or circumstances
other than those to which it is held invalid or unenforceable, shall not be affected thereby.
O. NOTICES
All notices,demands,requests,consents,approvals or other instruments required or permitted by this
Agreement shall be in writing and shall be executed by the party or an officer,agent or attorney of the
party, and shall be deemed to have been effective as of the date of actual delivery, if delivered
personally, or as of the third (3rd) day from and including the date of posting,if mailed by registered
or certified mail, return receipt requested,with postage prepaid addressed as follows:
TO City: TO DEVELOPER:
City Clerk,City of Canton Anthony Pippin
2 N. Main Street 324 N.Third Ave.
Canton,IL 61520 Morton,IL 61550
Telephone: (309) 647-0020
With Copy to:
Jacob&Klein,Ltd.
The Economic Development Group,Ltd.
1701 Clearwater Avenue
Bloomington, IL 61704
Telephone: (309) 664-7777
Fax: (309) 664-7878
P. SUCCESSORS IN INTEREST
Subject to the provisions of Section L, above, this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.
Anthony Pippin Redevelopment Agreement Page 7
Q. NO JOINT VENTURE,AGENCY, OR PARTNERSHIP CREATED
Neither anything in this Agreement nor any acts of the parties to this Agreement shall be construed by
the parties or any third person to create the relationship of a partnership, agency, or joint venture
between or among such parties.
R. INDEMNIFICATION OF City
It is the understanding of the Parties that the position of the Illinois Department of Labor is that the
Illinois Prevailing Wage Act does not apply to TIF increment received by private developers as
reimbursement for private TIF Eligible Project Costs. This position of the Illinois Department of Labor
is stated as an answer to a FAQ on its website at :
http://www.illinois.gov/idol/FAQs/Pages/prevailing-wage-faq.aspx. The Developer shall indemnify
and hold harmless the City, and all City elected or appointed officials, officers, employees, agents,
representatives, engineers, consultants and attorneys (collectively, the Indemnified Parties), from any
and all claims that may be asserted against the Indemnified Parties or one or more of them, in
connection with the applicability, determination, and/or payments made under the Illinois Prevailing
Wage Act (820 ILCS 130/0.01 et. seq.), the Illinois Procurement Code, and/or any similar State or
Federal law or regulation. In addition, the Developer agrees to indemnify and hold harmless the City
for any claim asserted against the City arising from the Developer's Project and/or this Agreement.
This obligation to indemnify and hold harmless obligates Developer to defend any such claim and/or
action,pay any liabilities and/or penalties imposed,and pay all defense costs of City,including but not
limited to the reasonable attorney fees of City.
S. ENTIRE AGREEMENT
The terms and conditions set forth in this Agreement and exhibits attached hereto supersede all prior
oral and written understandings and constitute the entire agreement between the City and the Developer
with respect to the subject matter hereof.
T. TITLES OF PARAGRAPHS
Titles of the several parts,paragraphs,sections or articles of this Agreement are inserted for convenience
of reference only, and shall be disregarded in construing or interpreting any provisions hereof.
U. WARRANTY OF SIGNATORIES
The signatories of Developer warrant full authority to both execute this Agreement and to bind the
entity in which they are signing on behalf of.
V. TERM OF THE AGREEMENT
Notwithstanding anything contained herein to the contrary,this Agreement shall expire on the date that
is six years from the date the Project is complete as set forth herein. The Agreement shall expire sooner
if the Developer files for bankruptcy or otherwise becomes insolvent,the Property becomes the subject
of foreclosure proceedings or upon default by the Developer of this Agreement.
Anthony Pippin Redevelopment Agreement Page 8
IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be executed by their
duly authorized officers on the above date at Canton,Illinois.
CITY DEVELOPER
CANTON, ILLINOIS, ANTHONY PIPPIN
a Municipal Corporation.
/' ' BY:BY: 4,/, ` (�' �. n� Anthony Pippin
ayor, City of Can o
ATTEST:
City lerk, City of Canton
i!: 1\7[iA,( !\I7J\ ;.)>,' '„ !f / !"'. !z, a u, %��tP�^ ''ir`,lJim,/ i:! '._. 1�,;;,ou 'vmRI) I '! 1,^, ',,_'-.r,ni
Anthony Pippin Redevelopment Agreement Page 9
IN WITNESS WHEREOF the Peron hereto have caused this Agreement to be executed by&Alt
dy authorized officers on the above date at Canton.Illinois.
Era DEVELOPER
CANTON,ILLINOIS. ANTHONY PIPPIN
a Muniopal Corporation.
BY:44 in Anthony Pippin
Eayor. ityufCa..0r
ATT—Sr:
CI y Coy of Canton
•
Anthag POpiee RecIrtelopment 4gmerestal Page 9
, .
EXHIBIT 1
SUMMARY OF ESTIMATED TIF ELIGIBLE PROJECT COSTS
Anthony Pippin
Canton TIF District 1 in the City of Canton,Fulton Counties, Illinois
Project Description: The Developer plans to acquire the Property and construct a sports complex
located thereon consisting of baseball,softball,soccer,and lacrosse facilities.
Location: 406 S. 5th Street, Canton,IL
Parcel Number: 09-08-35-105-005 and 09-08-35-105-010
Estimated TIF Eligible Project Costs:
Land and Building Acquisition $70,000.00
Site Preparation, Clearing and Grading $1,000.00
Demolition $1,500.00
Professional Fees (Legal,Accounting/Financial, etc.) $2,000.00
Rehabilitation or Renovation $73,000.00
Total Estimated TIF Eligible Project Costs $147,500.00
*The City's reimbursement of TIF Eligible Project Costs to the Developer shall not exceed$24,000.00 as set forth in this
Redevelopment Agreement.
Anthony Pippin Redevelopment Agreement Page 10
EXHIBIT 2
CITY OF CANTON, ILLINOIS
CANTON 1- DOWNTOWN / 5TH AVENUE TIF DISTRICT
PRIVATE PROJECT
REQUEST FOR REIMBURSEMENT
BY
ANTHONY PIPPIN
Date
Attention: City TIF Administrator, City of Canton, Illinois
Re: TIF Redevelopment Agreement, dated May 4,2021
by and between the City of Canton,Illinois,and Anthony Pippin(collectively,the"Developer")
The City of Canton is hereby requested to disburse funds from the Special Tax Allocation Fund
pursuant to the Redevelopment Agreement described above in the following amount(s), to the
Developer and for the purpose(s) set forth in this Request for Reimbursement. The terms used in this
Request for Reimbursement shall have the meanings given to those terms in the Redevelopment
Agreement.
1. REQUEST FOR REIMBURSEMENT NO.
2. PAYMENT DUE TO:Anthony Pippin
3. AMOUNTS REQUESTED TO BE DISBURSED:
Description of TIF Eligible Project Cost Amount
Total
4. The amount requested to be disbursed pursuant to this Request for Reimbursement will be used to
reimburse the Developer for Redevelopment Project Costs for the Project detailed in Exhibit "1"
of the Redevelopment Agreement.
Anthony Pippin Redevelopment Agreement Page 11
5. The undersigned certifies that:
(I) the amounts included in(3) above were made or incurred or financed and were necessary for
the Project and were made or incurred in accordance with the construction contracts,plans
and specifications heretofore in effect; and
(ii) the amounts paid or to be paid, as set forth in this Request for Reimbursement,represent a
part of the funds due and payable for TIF Eligible Redevelopment Project Costs; and
(iii) the expenditures for which amounts are requested represent proper Redevelopment Project
Costs as identified in the"Limitation of Incentives to Developer"described in Section 'V' of
the Redevelopment Agreement, have not been included in any previous Request for
Reimbursement,have been properly recorded on the Developer's books and are set forth with
invoices attached for all sums for which reimbursement is requested,and proof of payment
of the invoices; and
(iv) the amounts requested are not greater than those necessary to meet obligations due and
payable or to reimburse the Developer for its funds actually advanced for Redevelopment
Project Costs; and
(v) the Developer is not in default under the Redevelopment Agreement and nothing has
occurred to the knowledge of the Developer that would prevent the performance of its
obligations under the Redevelopment Agreement.
6. Attached to this Request for Reimbursement is Exhibit "1'' of the Redevelopment Agreement,
together with copies of invoices, proof of payment of the invoices, and Mechanic's Lien Waivers
relating to all items for which reimbursement is being requested.
BY: (Developer)
TITLE:
CITY OF CANTON, ILLINOIS
BY:
TITLE: DATE:
JACOB & KLEIN, LTD. &THE ECONOMIC DEVELOPMENT GROUP, LTD.
BY:
TITLE: DATE:
Anthony Pippin Redevelopment Agreement Page 12
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 4TH DAY OF MAY, 2021 ADOPTED ORDINANCE NO. 4231, A TRUE AND
CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET.
GIVEN UNDER MY HAND AND SEAL THIS DAY OF MAY, 2021.
(SEAL)
DIANA PAVLEY-ROCK
CITY CLERK