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HomeMy WebLinkAboutOrdinance #2046 ? CITY OF CANTON, FULTON, ILLINOIS ORDINANCE NO. U, O7 ~ CANTON INTERNATIONAL HARVESTER (IH) SITE PROJECT AREA TAX INCREMENT FINANCING (TIF) DISTRICT AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT by and between THE CITY OF CANTON and KENT JANSSEN AND SHIRLEY FR.ANZONI (D/B/A `BLACK CROW CANDLE COMPANY") ADOPTED BY THE CORPORATE AUTHORITIES OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, ON THE 20TH DAY OF SEPTEMBER, 2011. CITY OF CANTON, ILLINOIS: ORDINANCE NO. CANTON INTERNATIONAL HARVESTER (IH) SITE PROJECT AREA TAX INCREMENT FINANCING (TIF) DISTRICT AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF CANTON AND KENT JANSSEN AND SHIRLEY FRANZONI (D/B/A `BLACK CROW CANDLE COMPANY") BE IT ORDAINED BY THE CITY OF CANTON THAT: SECTION ONE: The Redevelopment Agreement with Kent Janssen and Shirley Franzoni (D/B/A `Black Crow Candle Company") (Exhi6itA attached) is hereby approved. SECTION TWO: 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. SECTION THREE: The Redevelopment Agreement shall be effective the date of its approval on the 20`h day of September, 2011. SECTION FOUR: This Ordinance shall be in full force and effect from and after its passage and approval as required by law. [Balance ofpage is intentionally blank.] -2- PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the Ciry of Canton, Fulton County, Illinois, on the 20`h day of September, A.D., 2011, 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 Ald. David Pickel Ald. James Hartford Ald. Jeffrey Fxitz Ald. Craig West Ald. Gexald Ellis Ald. Justin Nelson Ald. Eric Schenck Ald. Jeremy Pasley Hon. Kevin Meade, Mayor TOTAL VOTES ~ , ~ . i r ~ ~ APPROVED: ~ ~ ~ ~ ~ r~ , Date / / 2011 ,~on. Kevin Mea e, Mayor, C~ of Canton ATTEST: 2-c~? , Date: ~ / ~2Q`11 Diane Tuc er, City Clerk, City of Canton A'1"TACHMF N1'S: EXHIBIT A: K~D~V~LOPM~NT AGR~LMEN"P BE'I'WI;LN TI IE CI1'Y OF CANTON ANll KrNT )ANSSL:N AND SI IIRI.EY FI2AN%ONI (D/B/A `BLACK CROW CANDLF. COMPANY") -3- . 1 EXHIBIT A REDEVELOPMENT AGREEMENT by and between CITY OF CANTON and KENT JANSSEN AND SHIRLEY FRANZONI (D/B/A "BLACK CROW CANDLE COMPANY") CANTON INTERNATIONAL HARVESTER (IH) SITE PROJECT AREA TAX INCREMENT FINANCING (TIF) DISTRICT -4- CAN TON I N T E RN AT I O N AL H ARVE ST E R(1 H) SI T E PRO.~ CT ARE A TAX INCREMENT FINANCING (TIF) DISTRICT TI F REDEVELOPM EN T AGREEM EN T by and betw~een CI TY OF CAN TON, FULTON COUN TY, I LLI N OI S and KE N T JAN SSE N AN D SH I RLEY FRAN ZON I . (D/ B/ A"BLACK CROW CAN DLE COMPANY` ) SEPTEMBER2011 CANTON INTERNATIONAL HARVESTER(IH) SITE PRO.~CT AREATAX INCREMENT FINANCING(TIF) DISTRICT REDEVELOPMENT AGREEMENT by and betw~een CITY OF CANTON and KEN T.IAN SSEN AN D SH I RLEY FRAN ZON I (D/ B/ A BLACK CROW CAN DLE COMPANY) T H I SRE D EVE LO PM E N T AGRE E M E N T(indudi ng E~ibits) Agreerr~ent' ) isentered into this day of S~tember, 2011, by the City of Carrton (the"City an I Ilinois Muniapal Corpor2tion, Fulton County, I Ilinois, and Kent .~ansser~ and Shirley Franzoni (d/ b/ a Bladc Crow Candle Company and oollecc~ively the" Developer' PREAM BLE WH E REAS~ the City has the authority to promote the health, safety, and welfae of the City and its atizen: and to prevent thE spread of bli~t and deterioration and inadequate public faaliti~ by promoting the development of private propety thereby incxeasing the t~c ba9e of the City and providing employrr~ait for its atizens; and WH EREASy pursuant to the T~c I ncrement Allocation Redevelopment Ad, 65 I LC~ 5/ 11- 74.4.4 ~ sa~., aE ar~ended (the "Act` the City has the arthority to provide inoentives to owners or prospectiveownersof real propertytodevelop, redEVelop, and rehabilitatesuch propertybyreimbursing theownasfor oertan oostsfrom resulting incxeas~in real estatetaoc revenues and WH EREAS, pur~uant to 66 I LCS 5? &1-2.5 a muniapality may ecpend funds for eoonomic development purpo~ to oommeraal enterpris~ that ae neoe~ay or desirable for the promotion of economic deveJopment within the muniapality, and WH EREASy on July 6, 2004, reoognizing the need to foster the development, expanson and revitalization of oertan propertieswhich arevacant, underutilized or undeveloped, theCity adopted T~c I ncr~t Finanang under theAct, approved a Redevelopment Plan and desi~ated a Red~velopment Area, pursuar~t to theAct, known aE Canton I ntemational H anrester (I -H ) Site Project Area Tax I ncr+ement Finanang District ( the"TI F District` and WH EREAS, the City is currently undertaking a major ar~endment to the TI F D istrict Redevelopment Plan and Projecc;ts to add private projec~s and add and further designate private TI F 1 Eligible Project Costs to further authorize the City to provide inoentives to induoe owners of real property to prooeed with priv~e redevelopment projects and WH EREAS~ the Developer istheowner of property within theboundaiesTl F Distrid located at 30 V1l~ Elm, Canton, I Ilinois (PI N#s~ 0~08-27-414004; 0~0~27-414006; 0~08-27- 414007; 09-0~27-414008) (the ° Propert~ and WH EREAS~ theDeveloper isprooeedingwith plansto renovatetheecisting oommeraal building for the operation of a naw oommerdal r~ail store (the" Project` based upon the a~alability of inoentives by the City, and WH EREAS, the City hastheauthority under theAct to incur Redevelopment Project Costs Eligible Project Costs` ) and to reimburse Developer for such c~ost~ and WH EREAS~ theDeveloper requeststhat inoentivesfor thedevelopment beprovided by the City and that such inoentives indudethe reimburserr~it of a portion of the Developer-s Eli~ble Project Costs; and WH EREAS~ the City has determined that this Project requiresthe inoentives requested and that said Project will, as a part of the Plan as amended, promote the heelth, saf~y and wdfae of the City and its atizens by attrac~ing private investment to prevent blight and deterioration, to develop underutilized property, and to provide employrr~ent for its atizens and generally to enhanoe the eoonomy of the City; and WH EREAS~ the City shall pa~ to the Developer a on~time lump sum payment in the amount of Twenty OneThousand Dollas(~,21,000.00) from theTl F Distrid~~edal T~c Allor,ation Fund for the reimburse~nent of Eligble Projed Costs and such payir~ent shall be pad upon theCity approving the First Amendment to theTl F Distrid Redevelopment Plan and Projects and verification of $21,000.00 of the Developer-~ Eligble Projec# Costs (see Exhibit 1) ass~ forth in S~tim E; and WH EREAS~ the DEVeloper-s reimburserr~ent of Eligble Project Costs from the City is oonditional upon the Developef maintaning a minimum of two (2) full-timeequivalent employ~ees and upon r~al operations of oompaable soope and purpose continuing on the Property for a period of not lessthan twenty-four (24) monthsfrom thedaieof theeuecution of thisAc,~eerr~ent; and WH EREAS~ thefalure of the Developer to oontinuously mantan a minimum of two (2) full-timeequivalent employeesemployed in retal operationsof c~mpaablesoopeand purpo9eon the Property for a period of not less than twenty-four (24) months from the d~e of the execution of thisAgeeinent shall oonstituteaDeFault, thereby requiring Developer to return apro rataanount of thefunds reoeived from theCity pursuant to thetermsof thisAgreerr~ent; and WH EREAS, theCity isentering into thisAg-eerneit to induoethe Developer to renovate the building located on said Prope~ty for the operation of a nedv retal busine~; and 2 WH EREAS~ in oonsderation of theececution of thisA~eerr~ent and in relianoethereon, the Developer has prooeeded with its plans to oomplete the Project as set forth herein. AGREEMENTS N OW, T H EREFORE, for good and valuable oonsideration, the reoeipt of which is a~cnowledged, the Parties ~ree as follows: A. PRELIMINARYSTATEMENTS 1. The Parties ~ree that the matters s~ forth in the recitals above ae true and oorrect and form a pat of this Agreernent, and ae to be construed as binding stat~ts of this Agreernent. 2. Anytermswhich aenot deFined in thisAc,~eerrient shall havethesamemeeningastheydo in theAct, unlessindicated to theoontrary. 3. TheCity in ectending inaentivesfor this Project is relying on the represent~tion of the Developer oontaned herein to substantially oomplete the Project ~ set forth herein. 4. Each of the Parties represents that it has taken all actions neoe~ay to a.~thorize its representatives to ececxate this Agreerr~ent. B. ADOPTION OFTAXINCREMENT FINANCING TheCity hascreeted aT~c Incranent Finanang District known asthe"Canton I ntemational H arv~ster (I -H ) Site Project Ar~ Tax 1 ncrement Finanang District` which indudesthe Developer-s Property. The City has approved oertan Redevelopment Project Costs in its Redevelopment Plan, induding the types desaibed in Exhibit 1 for the Developer-s Project. C. INCENTIVES I n consider~ion for theDeveloper completing itsProject asset forth herein, theCity~re~;to eKtend to Developer thefollowing inoentivesto assist Developer~ Project: 1. The City shall pay to the Developer a on~time lump sum payrnent in the anount of Twenty OneThousand Ddlars($21,000.00) from the TIF District's Special TaxAllocation Fund for the reimbursement of Eligible Project Costs and such payment shall be paid upon the City approving the First Amendment to the TIF District Redevelopment Plan and Projects and verific~ion of $21,000.00 of the Developer-~ Eligible Project Costs (9ee Exhibit 1) as set forth in Satim E. a The DEVeloper-~ reimburserr~ent of Eli~ble Project Costs from the City is conditional upon the Developer maintaning a minimum of two (2) full-time equivalent employ~ees and upon r~tal operationsof comparablesoopeand purposeoontinuingon theProperty 3 for a period of not less than twent~four (24) months from the d~e of the exe~xation of this Ageerr~ent. i. Thefalureof theDeveloper to oontinuously maintan aminimum of two (2) full- timeequivalent employeesemployed in retal operationsof oompaablesoopeand purposeon thePropa~tyfor apaiod of not lessthan twenty-four (24) monthsfrom the date of the e~cecution of this Agreerr~ent shall constitute a Default, thereby requiring DeveJoper to return apro rataanount of thefundsreoeived from theCity pursuant to the terms of this Agreerr~ent D. LIMITATION OF INCENTIVESTO DEVELOPER The Developer shall be reimbursed by thE City only for EligiblE Projed Costs permitted by the Act and incurred as a res~alt of the Projed, not to euoeed a total of Twenty One T housand Ddlars ($29,000.00) . E. PAYMENT OF ELIGIBLE PRO.ECT COSTS 1. A request for pa~rr~ent to theDeveloper for TI F EligibleProjec~ Costsass~ forth bytheAd shall bemadebyaRequisition for Pa~n~nent of PrivateDevelopment Redevelopment Costs(the " Requisition` ) as hereto attad~ed as Exhibit 2 and submitted by Developer to the City-s TI F Administrator .~oob & Klein, Ltd. and The Eoonomic Development Group, Ltd. (collectively the" TI F Administrator` ) or asuooe~iveTl F Administrator upon written notification from the City. 2. The Requisitions must be arxompanied by verified bills or stat~t~ of suppliers, contrac~ors, or professionals together with Mechanic~ Lien Waivers as required by the City. 3. The Administr2tor shall a~prove or disapprove the Requisitions by written reoeipt to the Developer within thirty (30) business days ~ter reoeipt of the Requistion. Approval of the Requisition will not be unrea9onably withheld. I f the Requisition is disapproved by the Administrator, the reaeons for disallowanoE will be set forth in writing and the Developer may res~abmit thE Requisition with such additional information as may be required and the same prooedures set forth herein shall apply to such r~submittal. 4. ThE sum approved shall then be pad from the TI F District~ ~eaal T~c Allocation Fund pursuant to Sedion C., Paragraph 1 and from the ~eaal Aooount, pursuant to Sedion C., Paragraph 2, to the Developer ~ soon ~ sum~ ae avalable. Payrr~ent shall be made within thirty (30) days after approval. 5. The Parties adcnowledge that the determination of Eligble Project Costs, and, thereFor~ qualification for reimburserr~ent hereunder ae subject to chang~ or interpr~#ation made by ame~dments to the Act, administrative rules or judiaal interpretation during theterm of this Agreerr~ent. TheCity h~s no obligation to the D~veloper to attempt to modify thosedecisons, but will reaeonably a~ist the Developer in every res~~ed to obtan ~proval of Eli~ble Project Costs 4 6. Eligible Projed Costs shall be broadly defined in the Redevelopment Plan to indudE all o~s defined in theAct asRedeveiopment Projed Costs. F. LIMITED OBLIGATION The City-~ obligation hereunder to pay the Developer for Eli~ble Project Costs is a limited obligation to be paid s~lely ae set forth herein. 3~id obligation does not now and shall never constitute an indebtednes~ of the City within the meaning of any :~ate of Illinoi~ oonstitutional or statutory provision, and shall not oonstitute or give rise to a peaaniary liability of the City or a chage or lien ~ainst theCity-sgeneral cxedit or t~cing power. G. LI MITED LIABI LITY OF CITY TO OTH ERSFOR DEVELOPER~EXPENSES There ~hall be no obligation by the City to make any payrr~ents to any persan other than the Developer, nor shall the Gty be obligated to make direct payrr~ents to any other oontractor, subcontractor, mechanic or materialman providing 9ervio~ or materials to the DEVeloper for the Project. ThisAgrea~r~ent shall not aeateanythird-party rightsand theD~veloper shall indemnifyand hold the City hamless on any dams aisng out of the Developer~ construction adivities, H. COOPERATION OFTHE PARTIES The City and the Developer ~ee to oooperate fully with each other when reque5ted to do ~ aonaerning the dEVelopment of the Developer-s Project. I. DEFAULT; CURE; REMEDIES In thE event of a dEfault under thi~ Ageernent by any party hereto (the"DeFaulting Paty which default is not ared within thE curE period provided for below, then the other party (the "Non- defaulting Party ) shall have an action for dan~es, or in the c~ent dar~ would not farly oompensate the Non-deFaulting Party-~ for the Defaulting Party-f breach of thi~ Ageerr~ent, thE Non- defaulting Paty shall have such other equity right~ and rerr~edies as ae a~alable to them at laiv or in equity. Any dam~es payable by the City hereunder shall be limited to the real estate t~c inaer~ent payableto the Developer under thetermsof thisAgeerr~ent. I n the ~ent a Dc~'aulting Paty shall fal to perform a monetary oovenant which it is required to perform under this Agrmr~ent, it shall not be deaned to be in d~fault under thi~ Agreerr~ent unless it shall have faled to perform such monetay oovenant within thirty (30) day~ of its reoeipt of a notioe from a Non-dEfaulting Paty speafying that it h~ faled to perform such monetay oovenant. I n the event a Defaulting Party fal~ to perform any non-monetary oovenant aE and when it i~ required to under thisAgrea~r~ent, it shall not be deeried to be in ~fault if it shall have cured such defaalt within thirty (30) days of its reoeipt of a notioe from a Non-defaulting Party spedfying the nature of the default, provided, however, with res~~ect to thosE non-monetay defaults which ae not capable of being cured within such thirty (30) day period, it shall not be dea~r~ed to be in default if it commeno~ curing within such thirty (30) days period, and thereaFter diligently and oontinuously proseaates the cure of such default until the same ha5 been ared. 5 .1 ASSIGNMENT The right~ and obligations of thE Developer under thi~ Agreerrieit shall be fully a~ignable by mean: of written notioe to thE City. TheCity shall not unrea9onablywithhold itsoonsent provided th~ the naturE of thE Project is not substantially changed. No such assignment shall bedea~ned to rele~e thE Developer of it~ oblig~ions to the City under thi~ Agreerr~ent unles~ the speafic oonsent of the City to releaBetheDeveloper~obligationsisfirst obtaned in writing. K. WAIVER Any party to thi~ Ageerr~ent may elect to wave any re~r~edy it ma~ enjoy hereunder, provided that no such waver shall be deerr~ed to exist unless the party waiving such right of re~r~edy does so in writing. N o such waver shall obligate such party to wave any ri~t of re~nedy hereunder, or shall be deerr~ed to oonstitute a waver of other right~ and re~riedi~ provided said party pur~uant to this Ageerr~ent. L. SEVERABILITY I f any sec~ion, sub~ection, term or provison of thi~ AgeaY~ent or the application thereof to any party or arcurr~stanoe shall, to any ectent, be invalid or unenforoeabl~ the remander of said sedion, subsection, term or provision of thi~ Agreerr~ent or the application of sane to parti~ or arcumstanoes other than those to which it is held invalid or unenforoeabl~ shall not be affected thereby. M. N OT I CES AII notioes, demands, requests, oonsents, approval~ or other instrument~ required or permitted by thi~ Ageernent shall be in writing and shall be executed by the Party or an offioer, ~qent or attorney of the Party, and shall be deerned to have been eFfective as of the date of ac~ual delivery, if delivered personally, or aE of the third (3~d) day from and induding the date of posting, if mailed by registered or oertified mail, return reoeipt requested, with post~e prepad addressed asfollows To Develope~: To City. Kent ,~nssen City Clerk, 1466 E. 9~rcanore City Hall Canton, I L 61520 2 Man ~treet Canton, I L 61520 9iirley Franzoni 120 W. Chestnut With ¢p~ta Canton, I L 61520 .~oob & Klein, Ltd. Eaonomic Development Group, Ltd. 1701 Cleawater Avenue Bloomington, I Ilinois 61704 Telephon~ (309)664-7777 6 N. SUCCES90RSIN INTEREST ~Lbject to the Provisionsof Par~aph Jabov~ thisAgeerr~ent shall bebinding upon and inure to the benefit of the Parties hereto and their respec~ive s~ooe~s9ors and a~igns O. NOJOINTVENTURE,AGENCY,ORPARTNERSHIPCREATED Neither anything in this Ageerr~ent no any ac~s of the Parties to this Agreernent shall be oonstrued bythePatiesor anythird person to aeetetherel~ionship of apartnership, ~C enc,y, or joint venture between or anong such Parties. P. INDEMNIFICATION OF CITY Developer adcnowledgesthat it isresponsiblefor d~termining applicability, prooessing pa~roll and complianoewith the I Ilinois PrEValing WageAct, to theextent such is~plicable. Applicability is to bedetermined by DEVeloper and Developer shall indemnifyand hold hamlesstheCity, and all City elected or appointed offiaals, offioers, employ~ees~agents, representatives, engineers, o~nsultantsand attorneys(oollectively, the I ndemnified Parties), from any and all damsthat may be~ted ~ainst the I ndemnified Partiesor oneor moreof them, in ~onnection with theapplicability, determination, and/ or paytnents made under the I Ilinois PrEValing Wage Ad (820 I LCS 13d 0.01 ~.sa~), the I Ilinois Procurement Cod~, and/ or any simila Stateor_Federal larvor regulation. Thisobligation to indemnify and hold hamless obligates DEVeloper to deFend any such dam and/ or ac~ion, pay any liabilities and/ or penaltiesimposed, and payall defensecostsof City, induding but not limited to therea9onable attorney fees of City. Q. TERM OF TH E AGREEMENT This Agreerr~ent shall e~ire upon the e~iration of the Redevelopment Plan adopted by the City or s~oner if the Developer has reoeived all inoentives induded herein. R. AMENDMENTSTOTHISAGREEMENT The parties her~o may ameid this Agea~neit at any time by their mutual o~nsent which amendment must be in writing and e,cecuted by the parties. S~ WARRAN TY OF SI GN ATORI ES The sig~2tories of Developer warant full arthority to both ~cecute this Ac,~eerr~ent and to bind the entity in which they ae sigiing on behalf of. 7 I N WI T N ESS WH E RE O F the Parties hereto have caused this Agreernent to be ecea.~ted bytheir dulyauthorized offioerson theabovedateat Canton, Illinois. CITY OF CANTON, ILLINOISa DEVELOPER: Muniapal Corporatio : ~ ~ ; ~ g~. ~ g~. Mayor Kent ~ AT g . Shirley F oni City Clerk , . e , 8 EXHIBIT 1 SUMMARY OF ESTIMATED TIF ELIGIBLE PROJECT COSTS Black Crow Candle Company Project Canton I-H TIF District in the City of Canton, Fulton County, Illinois Project Description: The Developer is renovating the existing building on the Property for the operation of a new retail store. Location: 30 West Elm, Canton, IL PIN#s: 09-08-27-414-004; 09-08-27-414-006; 09-08-27-414-007; and 09-08-27-414-008 Eligible Project Costs: Land Acquisition ......................................................$68,000.00 Rehabilitation/Renovation Costs to Existing Structure . . . . . . . . . . . . . . . . . . . . . . . . . $20,787.00 Total Estimated Eligible Project Costs' . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $88,787.00 ~ The City agrees to reimburse the Developer for Eligible Projects incurred in the amount of $21,000.00 as set forth in the Agreement, and shall not be obligated to reimburse the Developer for any Eligible Project Costs exceeding $21,000.00. 9 EXH I BI T 2 PRIVATE PRO.ECT REQUEST FORREIMBURSEMENT 10 CITY OF CANTON, ILLINOIS INTERNATIONAL HARVESTER (IH) SITE PROJECT AREA TAX INCREMENT FINANCING DISTRICT PRIVATE PROJECT REQUEST FOR REIMBURSEMENT BY KENT JANSSEN AND SHIRLEY FRANZONI (D/B/A BLACK CROW CANDLE COMPANI~ ~ate I ~-5- i I Attention: City Administrator, City of Canton Re: TIF Redevelopment Agreement, dated ~~~I ~ by and between the City of Canton, Illinois, and Kent Janssen and Shirley Fanzoni (d/b/a The Black Crow Candle Co., 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 abave in the amount(s), to Kent Janssen and Shirley Fanzoni and for the purpose(s) se~ 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. I(' C~ ~ I 2. PAYMENT DUE TO: Kent Janssen and Shirley Fanzoni (d/b/a The Black Crow Candle Co., collectively the "Developer") 3. AMOUNTS REQUESTED TO BE DISBURSED: Description of TIF Eligible Project Cost Amount e h ~ pv i v ~ 0 ~ ~ , 5~ ~E-I F~~ S~ree~ ~t~ e. .1-~- c h c-l re _ Tota~ i 3, (~`7 $ d I~ 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. 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 D 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 hich reimbursement is being requested. BY: (Developer) TITLE:_ ~,nl'Yl,e.~ APPROVED: CITY OF CANTON, ILLINOIS BY: ~ TIT ~ ~~tY n nM ~ N~s ~rz~--r,o~ DATE: /O!