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Home My WebLink AboutOrdinance #4459 - redevelopment agreement with world hunting group enterprises, inc., and timothy m. wells and kerrie wells 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 15T" DAY OF APRIL, 2025, ADOPTED ORDINANCE NO. 4459, A TRUE AND CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET. GIVEN UNDER MY HAND AND SEAL THIS 15"DAY OF APRIL,2025. (SEAL) DI SMITH-WALTERS ITY CLERK CITY OF CANTON, ILLINOIS ORDINANCE NO. 4 4 5 9 AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A FIRST AMENDMENT TO THE CANTON 1-DOWNTOWN/ 5TH AVENUE TIF DISTRICT REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON, FULTON COUNTY,ILLINOIS and WORLD HUNTING GROUP ENTERPRISES, INC. and TIMOTHY M.WELLS and KERRIE WELLS 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 15"DAY OF APRIL,2025. EFFECTIVE: APRIL 15,2025 CITY OF CANTON,ILLINOIS: ORDINANCE NO. 4459 AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A FIRST AMENDMENT TO THE CANTON 1-DOWNTOWN/5TH AVENUE TIF DISTRICT REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON and WORLD HUNTING GROUP ENTERPRISES,INC. and TIMOTHY M.WELLS and KERRIE WELLS (60 &64 E. Elm St. Project) BE IT ORDAINED BY THE CITY OF CANTON, FULTON COUNTY, ILLINOIS THAT: 1. The First Amendment to the TIF Redevelopment Agreement with World Hunting Group Enterprises, Inc., Timothy M. Wells, and Kerrie Wells 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 First Amendment to the TIF Redevelopment Agreement and the City Clerk of the City of Canton is hereby authorized and directed to attest such execution. 3. The First Amendment to the TIF Redevelopment Agreement shall be effective the date of its approval on the 15'day of April, 2025. 4. This Ordinance shall be in fall force and effect from and after its passage and approval as required by law. (Fbe remainder of this page is intentionally blank.) ii PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton, Fulton County, Illinois, on the 15`h 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 i Ralph Grimm Greg Gossett Justin Nelson John Lovell Angela Hale Kent A.McDowell,Mayor TOTAL VOTES 8 APPROVED: Date: y /-Zk/2025 K nt A. McDowell,Mayor, City of Canton ATTEST: /d- , Date: ./2025 ndi Smith-Walters,City Clerk, City of Canton ATTACHMENTS: EXHIBIT A. FIRST AMENDMENT TO THE TIF REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF CANTON AND WORLD HUNTING GROUP ENTERPRISES,INC.,TIMOTHY M.WELLS AND KERRIE WELLS(60&64 E.Elm St.Project). a i iii EXHIBIT A CANTON 1-DOWNTOWN / 5TH AVENUE TIF DISTRICT FIRST AMENDMENT TO THE REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON and WORLD HUNTING GROUP ENTERPRISES, INC. and TIMOTHY M. WELLS and KERRIE WELLS (60 & 64 E. Elm St. Project) iv CANTON 1 - DOWNTOWN / 5TH AVENUE TIF DISTRICT FIRST AMENDMENT TO THE REDEVELOPMENT AGREEMENT by and between CITY OF CANTON, FULTON COUNTY, ILLINOIS and WORLD HUNTING GROUP ENTERPRISES, INC. and TIMOTHY M. WELLS and KERRIE WELLS (60 & 64 E. Elm St. Project) APRIL 15, 2025 CANTON 1-DOWNTOWN / 5TH AVENUE TIF DISTRICT FIRST AMENDMENT TO THE REDEVELOPMENT AGREEMENT by and between CITY OF CANTON and WORLD HUNTING GROUP ENTERPRISES, INC. and TIMOTHY M.WELLS and KERRIE WELLS (60& 64 E. Elm St. Project) THIS FIRST AMENDMENT TO THE TIF REDEVELOPMENT AGREEMENT (including Exhibits) is entered into this 15`h day of April,2025,by the City of Canton (the "City"),an Illinois Municipal Corporation, Fulton County, Illinois, and World Hunting Group Enterprises, Inc.,an Illinois Corporation and Timothy M. Wells and Kerrie Wells,individually (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 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 "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 6,2004,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 Act, approved a Redevelopment Plan, and designated a Redevelopment Area known as the Canton International Harvester Site Project Area TIF District (currently known as the "Canton 1 - Downtown / 5th Avenue TIF District" and hereinafter referred to as "Canton TIF District 1" or the "TIF District"); and WHEREAS, on November 22, 2011, the City approved the First Amendment to the TIF District Redevelopment Plan,Projects,and Area;and WHEREAS, on February 6, 2012, the City approved the Second Amendment to the TIF District Redevelopment Plan,Projects,and Area;and 2 WHEREAS, on April 5, 2017, the City approved the Third Amendment to the TIF District Redevelopment Plan,Projects,and Area; and WHEREAS, on November 19, 2024, the Parties entered into a Redevelopment Agreement (the "Original Agreement") for property owned by the Developer located at 60 & 64 E. Elm St., Canton, Illinois, PIN 09-08-27-416-003 and PIN 09-08-27-416-014 (hereinafter referred to as the "Property") within the TIF District Redevelopment Project Area, as amended; and WHEREAS, the Developer is proceeding with plans to exterior and interior rehab, renovations and repairs to the building located on the Property for continued operation of a warehouse and distribution center for World Hunting Group Enterprises, Inc., requiring a total estimated investment of$88,439(the"Project"),and the Developer is doing so based upon incentives made available by the City; and WHEREAS, the Developer requested that the City amend the Original Agreement to allow more time for the Project to be completed and incentives for the development to be provided by the City from incremental increases in real estate taxes of the City generated from its Project and the City agreed to such incentives;and WHEREAS, the City has determined that this Project requires 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, in consideration of the execution of this First Amendment to the Original Agreement, the Developer is completing the Project as set forth in the Original Agreement;and WHEREAS,the City is entering into this First Amendment to the Original Agreement having encouraged and induced the Developer to proceed with the Project located on said Property. FIRST AMENDMENT NOW,THEREFORE,the Parties,for good and valuable consideration,the receipt of which is acknowledged, agree to amend the terms of the Original Agreement as follows: A. AMENDED "A. PRELIMINARY STATEMENTS" Section A(4)of the Original Agreement shall be deleted in its entirety and replaced with the following: 4. The Developer shall complete the Project by July 1, 2025, subject to extension due to Force Majeure(defined below in Section 112). The Project shall be deemed to be complete when the exterior and interior rehab,renovations and repairs to the building located on the Property for continued operation of a warehouse and distribution center for World Hunting Group Enterprises, Inc. have been completed pursuant to Exhihit 1. B. AMENDED "E. PAYMENT OF ELIGIBLE PROJECT COSTS" Section B(1)of the Original Agreement shall be deleted in its entirety and replaced with the following: 3 1. To receive the incentives set forth in Section C above, the Developer must submit documentation using the Bequest for Verification of Eligible Project Costs form attached hereto as Exhibit 2 to provide evidence of all TIF District Eligible Project Costs incurred by it with respect to the Project on or before July 1, 2025. Satisfactory evidence of such costs shall include verified bills or statements of suppliers, contractors, or professionals together with mechanic's lien waivers (whether partial or full), cancelled checks, statements or invoices marked paid from each of the parties entitled to payment with respect to work done for the Project,or other proofs payment for such bills,statements,or invoices for such costs. Absent the City's written consent for an extension provided to the Developer, any costs submitted after July 1,2025 will not be eligible for reimbursement. C. AMENDED "M. TIME; FORCE MAJEURE" Section M of the Original Agreement shall be deleted in its entirety and replaced with the following- For this Agreement, time is of the essence. The Developer agrees to complete the Project by July 1, 2025. 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. D. PRIOR AGREEEMENT TERMS APPLY All terms of the Original Agreement and any Exhibits thereto shall remain in effect unless specifically modified by this First Amendment. 4 i I 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 F st Amendment to the Original Agreement to be executed by their duly authorized officers on the a ove date at the City of Canton,Illinois. CITY DEVELOPER II' I 1! CITY OF CANTON,ILLINOIS,an Illinois rB TING ROUP Municipal Corporation S,INC. an Illinois i ' BY - -ayor ,President Date:; / l Date: i ATTEST BY: Oil LLS,individually BY:- _ ty erk Wells Date: S' I Date: �J! I i, KERRIE LLS,i vidu y e wexs Date: I i 5