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Home My WebLink AboutOrdinance #4462 - redevelopment agreement between Jarvis Welding, L.L.P., and Brien Jarvis and Brad Jarvis and B&B Canton Properties, LLC 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 15TH DAY OF APRIL, 2025, ADOPTED ORDINANCE NO. 4462, A TRUE AND CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET. GIVEN UNDER MY HAND AND SEAL THIS 15TH DAY OF APRIL,2025. (SEAL) INDREA S TH-WALTERS ITY CLERK CITY.OF CANTON, ILLINOIS ORDINANCE NO. 4 4 6 2 AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF THE FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON, FULTON COUNTY,ILLINOIS and JARVIS WELDING,L.L.P. and BRIEN JARVIS and BRAD JARVIS and B&B CANTON PROPERTIES,L.L.C. PASSED BY THE CITY COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS, ON THE 15TH DAY OF APRIL,2025. PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS, THIS 15TH DAY OF APRIL,2025. EFFECTIVE: APRIL 15,2025 1 CITY OF CANTON, ILLINOIS: ORDINANCE NO. 4462 CANTON 1—DOWNTOWN/5TH AVENUE TAX INCREMENT FINANCING(TIF)DISTRICT and CANTON BUSINESS DEVELOPMENT DISTRICT (BDD)NO. 1 AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF THE FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON and JARVIS WELDING,L.L.P. and BRIEN JARVIS and BRAD JARVIS and B&B CANTON PROPERTIES,L.L.C. BE IT ORDAINED BY THE CITY OF CANTON, FULTON COUNTY, ILLINOIS THAT: 1. The First Amendment to a Redevelopment Agreement by and between the City of Canton, Fulton County,Illinois and Jarvis Welding,L.L.P.and Brien Jarvis and Brad Jarvis and B&B Canton Properties,L.L.C. (ExhibitA attached)is hereby approved. 2. The Mayor is hereby authorized and directed to enter into and execute on behalf of the City the First Amendment to 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 15`'day of April, 2025. 4. This Ordinance shall be in full force and effect from and after its passage and approval as required by law. (Fhe remainder of this page is intentionally left blank 2 PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton, Fulton County, Illinois, on the 15t' day of April, 2025, 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 Andra Chamberlin Patrick Ketcham Ralph Grimm Greg Gossett Justin Nelson John Lovell Angela Hale Kent A.McDowell,Mayor TOTAL VOTES 8 APPROVED: Date: / /2025 Kent A. McDowell,Mayor, City of Canton ATTEST: .&'i (2- - , Date:�/_*/2025 Brea Walters-Smi , City Clerk, City of Canton ATTACHMENTS: EXHIBIT A.FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF CANTON AND JARVIS WELDING, L.L.P. AND BRIEN JARVIS AND BRAD JARVIS AND B & B PROPERTIES,LLC. 3 EXHIBIT A CANTON 1-DOWNTOWN/5'H AVENUE TAX INCREMENT FINANCING (TIF)DISTRICT and CANTON BUSINESS DEVELOPMENT DISTRICT (BDD)NO.1 FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT i by and between THE CITY OF CANTON and JARIS WELDING,L.L.P. and BRIEN JARVIS i and BRAD JARVIS and B & B PROPERTIES,LLC 4 I CANTON 1 - DOWNTOWN/5TH AVENUE TAX INCREMENT FINANCING DISTRICT and CANTON BUSINESS DEVELOPMENT DISTRICT NO. 1 FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT by and between CITY OF CANTON, FULTON COUNTY, ILLINOIS and JARVIS WELDING,L.L.P. and BRIEN JARVIS and BRAD JARVIS and B & B PROPERTIES, LLC APRIL 15, 2025 I CANTON 1—DOWNTOWN/5TH AVENUE TIF DISTRICT and CANTON BDD NO. 1 FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT by and between CITY OF CANTON and JARVIS WELDING,L.L.P. and BRIEN JARVIS AND BRAD JARVIS and B & B PROPERTIES,LLC THIS FIRST AMENDMENT TO A REDEVELOPMENT AGREEMENT is entered into this 15`'day of April,2025,by and between the City of Canton(the"City"),an Illinois Municipal Corporation, Fulton County, Illinois, and Jarvis Welding, L.L.P., an Illinois Limited Liability Partnership, and Brien Jarvis,individually and Bard Jarvis,individually and B&B Canton Properties, L.L.C.,an Illinois Limited Liability Company(collectively the"Developer"). Hereinafter the City and the Developer,for convenience,may collectively be referred to as the "Parties". PREAMBLE WHEREAS, the City has the authority to promote the health,safety,and welfare of the City i and its citizens and to prevent the spread of blight and deterioration and inadequate public facilities by promoting the development of private 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- 74.4.4 et. seq., as amended (the"TIF 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 owners for certain costs from resulting increases in real estate tax revenues;and WHEREAS, on July 16, 2004, recognizing the need to foster the development, expansion and revitalization of certain properties which are vacant, underutilized, or undeveloped, the City adopted Tax Increment Financing under the TIF Act, approved a Redevelopment Plan, and designated a Redevelopment Area known as the"Canton 1—Downtown/5`'Avenue TIF District" and hereinafter referred to as the "TIF District"); and WHEREAS, property located at 155 S. 2nd Street, Canton, Illinois, (PINs 09-08-27-440- 002, 09-08-27-440-004, 09-08-27-440-005, 09-08-27-440-007, 09-08-27-440-008, 09-08-27-440-009, 09-08-27-440-010 and 09-08-27-440-011, hereinafter referred to as the "Property") was acquired by the Developer from the City in 2023 and is located within the TIF District Redevelopment Project Area;and 2 WHEREAS, said Property is also located within the City of Canton Business Development District (BDD) No. 1 Redevelopment Project Area,which was established by the City on March 15, 2022, by Ordinance No. 4281 pursuant to the Business District Development and Redevelopment Act, 65 ILCS 5/11-74.3 et. seq. (the"BDD Act");and WHEREAS, pursuant to the BDD Act, the City has the authority to incur eligible business district project costs and may enter into agreements with developers to reimburse them for their eligible business district project costs;and WHEREAS, on February 18, 2025, the City approved Ordinance No. 4447 and the Parties entered into a Redevelopment Agreement(the"Redevelopment Agreement"),wherein the City agreed to extend incentives to Jarvis Welding, L,L,P., Brien Jarvis, and Brad Jarvis, individually for reimbursement of certain Business District Eligible Project Costs and TIF eligible project costs to be incurred on the Property;and WHEREAS, the Parties agree to Amend the terms of the Redevelopment Agreement as set forth below. AMENDMENT A. AMENDED DEFINITION OF "DEVELOPER" The term "Developer" in the Redevelopment Agreement, and any exhibits thereto, shall mean,collectively,Jarvis Welding,L.L.P.,an Illinois Limited Liability Partnership,and Brien Jarvis, individually and Brad Jarvis,individually and B&B Canton Properties, L.L.C., an Illinois Limited Liability Company. B. AMENDED SECTION `B. INCENTIVES" Section "C"Incentives of the Redevelopment Agreement is hereby amended by adding the following Paragraph 4(a): a. All of the Developer's entities,Jarvis Welding,L.L.P.,Brien Jarvis,Brad Jarvis, and B&B Canton Properties,L.L.C.,hereby direct the City to pay all future reimbursements pursuant to this Agreement as amended for Business District Eligible Project Costs and TIF Eligible Project Costs incurred by the Developer to B&B Canton Properties, L.L.C. C.AMENDED SECTION "P.NOTICES" Section "P"Notices of the Redevelopment Agreement is hereby amended in its entirety as follows: 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(i)the date of actual delivery,if delivered personally,or(ii) as of the third(3�) day from and including the date of posting,if mailed by registered or certified mail, return receipt requested,with postage prepaid or (iii) the next business day if sent overnight delivery using a nationally recognized delivery service,addressed as follows: 3 TO CITY: TO DEVELOPER: City of Canton Jarvis Welding,L.L.P. `/o City Clerk `/o Brad&Brien Jarvis 2 N. Main St. 124 E Pine St. Canton,Illinois 61520 Canton,IL 61520 Ph: (309) 647-0020 Ph: (309) 338-3828 With copy to: B&B Canton Properties,L.L.C. Jacob &Klein,Ltd. and 124 E Pine St. The Economic Development Group,Ltd. Canton,IL 61520 1701 Clearwater Avenue Ph: (309) 338-3828 Bloomington,Illinois 61704 Ph: (309) 664-7777 D. PRIOR AGREEMENT TERMS APPLY All terms of the Original Redevelopment Agreement and any Exhibits attached thereto shall apply to this First Amendment and remain effective unless specifically modified by this First Amendment to the Business District Redevelopment Agreement. (ne remainder of this page is intentionally left blank.) 4 The undersigned signatories hereby warrant full authority to both execute this Agreement and to bind the entity in which they are signing on behalf of THIS AGREEMENT IS INTENDED TO BE A LEGAL DOCUMENT. AN ATTORNEY AT LAW SHOULD BE CONSULTED PRIOR TO THE EXECUTION OF THIS DOCUMENT. IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be executed by their duly authorized officers on the above date at the Village of Peoria Heights,Illinois. CITY DEVELOPER CITY OF CANTON, ILLINOIS,an Illinois JARVIS WELDING, L.L.P., an Illinois Municipal Corporation Limited Liability Partnership i BY: BY: -�&d L404 K nt c we ,M Brad J ,Manager Date: �/? Date: W/7/21� BRIEN JARVIS,individually ATT ED BY: aw IBY: e J s drea Walters-Smith,City Clerk C Date:✓� - 2S Date: b 9 BRADLEY D.JARVIS,individually BY: Bradley D. s Date: W17/ 7 B&B CANTON PROPERTIES,L.L.C.,an Illinois Limited Liability Company BY: X0A214U'2 Brad Jarvi anager Date: Tr 5