The URL can be used to link to this page

Home My WebLink AboutOrdinance#4242 - Redevelopment Agreement between the City of Canton and Frank Rusaj (Elm Street Cafe) 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 3'D DAY OF AUGUST, 2021 ADOPTED ORDINANCE NO. 4242, A TRUE AND CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET. GIVEN UNDER MY HAND AND SEAL THIS 3rd DAY OF AUGUST,2021. (SEAL) DIANA PAVLEY-ROCK CITY CLERK 1 CITY OF CANTON,ILLINOIS ORDINANCE NO. 4242 AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A TIF REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF CANTON, FULTON COUNTY, ILLINOIS AND FRANK RUSAJ (d.b.a. Elm Street Cafe) PASSED BY THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, ON THE 3m DAY OF AUGUST,2021. PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS, THIS 3'D DAY OF AUGUST,2021. EFFECTIVE:AUGUST 3,2021 2 ORDINANCE NO. 4242 CITY OF CANTON, FULTON COUNTY,ILLINOIS CANTON I-DOWNTOWN/5TH AVENUE TAX INCREMENT FINANCING DISTRICT AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDMENT TO THE TAX INCREMENT FINANCING (TIF) DISTRICT REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON and C The Mayor and City Council of the City of Canton, Fulton County, Illinois, an Illinois municipality (the "City"), have determined that this Amended TIF 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 Amended TIF Redevelopment Agreement with Frank Rusaj (collectively the "Developer") attached hereto as Exhibit `A"is hereby approved. 2. The Mayor is hereby authorized and directed to enter into and execute on behalf of the City said Amended Redevelopment Agreement and the City Clerk of the City of Canton is hereby authorized and directed to attest such execution. 3. The Amended Redevelopment Agreement shall be effective the date of its approval on the 3`d day of August, 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 Ibis page is intentionally blank) 3 PASSED APPROVED AND ADOPTED by the Mayor and City Council of the City of Canton this 3`d day of August,2021. MAYOR AND AYE VOTE NAY VOTE ABSTAIN ABSENT CITY COUNCIL Angie Lingenfelter X Andra Chamberlin X Jeff Fritz X Craig West X Greg Gossett X Justin Nelson X John Lovell X Angela Hale X Kent McDowell,Mayor X TOTALS APPRO"V"ED: �' � ALAI, t-,JQq Date P 2021 ayor, ("ity of Canton ATTEST: , Date: / /2021 City Clerk. City of Canton EXHIBIT "A" (Attached): Amended Redevelopment Agreement by and between the City of Canton and Frank Rusaj. 4 EXHIBIT A CANTON 1- DOWNTOWN/5TH AVENUE TAX INCREMENT FINANCING DISTRICT AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDMENT TO THE TAX INCREMENT FINANCING (TIF) DISTRICT REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON and FRANK RUSAJ (D.B.A. ELM STREET CAFE) 5 CITY OF CANTON CANTON 1- DOWNTOWN/5TH AVENUE TAX INCREMENT FINANCING DISTRICT :FIRST AMENDMENT TO THE TIF REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON, FULTON COUNTY, ILLINOIS and RANK RUSAJ (D.B.A. ELM STREET CAFE) AUGUST 3, 2021 CITY OF CANTON CANTON 1-DOWNTOWN/5TH AVENUE TAX INCREMENT FINANCING (TIF) DISTRICT FIRST AMENDMENT TO THE TIF REDEVELOPMENT AGREEMENT by and between CITY OF CANTON and FRANK RUSAJ (D.B.A. ELM STREET CAFE) THIS FIRST AMENDMENT TO THE TIF REDEVELOPMENT AGREEMENT is entered into this 3`d day of August,2021,by and between the CITY OF CANTON (the "City"), an Illinois Municipal Corporation, Fulton County, Illinois; and FRANK RUSAJ d.b.a. Elm Street Cafe (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, by promoting the development of private investment property thereby increasing the tax base of the City and providing employment for its citizens;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 develop, redevelop, and rehabilitate such property by reimbursing the owner for certain costs from resulting increases in real estate tax revenues and enter into contracts with developers necessary or incidental to the implementation of its redevelopment plan pursuant to 65 ILCS 5/11-74.4-4(b) and (j); and WHEREAS, pursuant to 65 ILCS 5/8-1-2.5 the City is authorized to appropriate and expend funds for economic development purposes, including, without limitation, the making of grants to any other governmental entity or commercial enterprise that are deemed necessary or desirable for the promotion of economic development within the municipality;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 Redevelopment Plan and Projects, designated a Redevelopment Project Arca and adopted Tax Increment Financing under the Act for Canton 1- Downtown/5th Avenue TIF District (the "TIF District");and WHEREAS, on April 20, 2021, the City and Developer, Frank Rusaj, entered into a Redevelopment Agreement (the "Original Agreement"), wherein the City agreed to extend incentives to provide reimbursement of certain TIF eligible project costs for property located at 231 E. Elm Street, Canton, Illinois (Parcel Identification Number 09-08-27-434-014) (the "Property"); and WHEREAS, the Property is located in the TIF District rather than the Canton 2 - Rt. 9 / 1 Chestnut Street TIF District as stated in the Original Agreement;and WHEREAS, Frank Rusaj previously agreed to rehabilitate and renovation the commercial building located thereon (the "Project") based upon incentives made available by the City;and WHEREAS,it is the intent of the City to encourage economic development which will increase the real estate and municipal tax bases of the City and the tax bases of other taxing bodies, which increased incremental taxes will be used, in part, to finance incentives to assist redevelopment projects undertaken within the TIF District;and WHEREAS, the City has the authority under the Act to incur Redevelopment Project Costs ("Eligible Project Costs") and to reimburse Developer for such costs pursuant to 65 ILCS 11-74.4- 40);and WHEREAS, the Parties agree to Amend the terms of the Original Agreement as set forth below. FIRST AMENDMENT, A.AMENDED DEFINITION OF "TIF DISTRICT" The term "TIF District" in the Original Agreement, and any exhibits thereto, shall mean the Canton 1 -Downtown/5th Avenue TIF District. B. PRIOR AGREEMENT TERMS APPLY All terms of the Original Agreement and any Exhibits to the Original Agreement shall apply to this Amendment and remain effective unless specifically modified by this First Amendment to the Redevelopment Agreement. IN WITNESS WHEREOF the Parties hereto have caused this First Amendment to the Redevelopment Agreement to be executed by their duly authorized officers on the above date at Canton, Illinois. CITY DEVELOPER CITY OF CANTON, an Illinois Municipal Cc;rpt'a°anon: FRANK RUSAJ D.B.A. ELM STREET CAFE BY: ' Frank Rusaj ATTEST City Clerk 2