HomeMy WebLinkAbout#4120 Redevelopment Agreement between Alessandra K. Puleo and Canton 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 20TH DAY OF
NOVEMBER,2018 ADOPTED ORDINANCE NO. 4120,A TRUE AND CORRECT COPY OF
WHICH IS CONTAINED IN THIS PAMPHLET.
GIVEN UNDER MY HAND AND SEAL THIS aD DAY OF NOVEMBER,2018.
(SEAL)
DIAN AVLEY-ROCK
CITY CLERK
CITY OF CANTON, ILLINOIS
ORDINANCE NO. 4120
AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A
TIF REDEVELOPMENT AGREEMENT
BY AND BETWEEN
THE CITY OF CANTON,FULTON COUNTY, ILLINOIS
AND
ALESSANDRA K PULED
PASSED BY THE CITY COUNCIL
OF THE CITY OF CANTON,FULTON COUNTY, ILLINOIS,
ON THE 20TH DAY OF NOVEMBER, 2018
PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY
COUNCIL OF THE CITY OF CANTON, FULTON COUNTY,ILLINOIS,
THIS 20TH DAY OF NOVEMBER,2018
EFFECTIVE: NOVEMBER 20, 2018
CITY OF CANTON
FULTON COUNTY, ILLINOIS
ORDINANCE NO. 4120
CANTON 1- DOWNTOWN/5T"AVENUE
TAX INCREMENT FINANCING DISTRICT
AN ORDINANCE APPROVING AND AUTHORIZING
THE EXECUTION OF A TIF
REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
ALESSANDREA K. PULEO
ADOPTED BY THE CORPORATE AUTHORITIES
OF THE CITY OF CANTON,FULTON COUNTY, ILLINOIS
ON THE 20T" DAY OF NOVEMBER,2018.
CITY OF CANTON,FULTON COUNTY, ILLINOIS
ORDINANCE NO.4120
CANTON I-DOWNTOWN/5TH AVENUE
TAX INCREMENT FINANCING DISTRICT
AN ORDINANCE APPROVING AND AUTHORIZING
THE EXECUTION OF A TIF REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
ALESSANDRA K PULEO
NOW THEREFORE BE IT ORDAINED BY THE CITY OF CANTON, FULTON
COUNTY, ILLINOIS THAT:
1. The TIF Redevelopment Agreement by and between the City of Canton, Fulton County,
Illinois and Alessandra K. Puleo,attached hereto as ExhibirA is hereby approved.
2. The Mayor is hereby authorized and directed to enter into and execute on behalf of the City
said TIF Redevelopment Agreement and the City Clerk of the City of Canton is hereby
authorized and directed to attest such execution.
3. The TIF Redevelopment Agreement shall be effective the date of its approval on the 20"day
of November,A.D.,2018.
4. This Ordinance shall be in full force and effect from and after its passage and approval as
required by law.
(I be remainder of tbis page is insentional_6 blank.)
Page 1
PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of
Canton,Fulton County, Illinois,on the 20"day of November,A.D.,2018,and deposited and filed in
the Office of the City Clerk of said City on that date.
CORPORATE AUTHORITIES AYE NAY ABSENT/ABSTAIN
Ryan Mahew X
Angie Lingenfelter X
Craig West X
Tad Putrich X ABSTAIN
Quinn Mayhew X
Justin Nelson X
John Lovell X
Angela Hale X
Kent A. McDowell,Mayor
Total Votes: 7 0 1
APPROVED: IlRbkt ,Date: / ,/ 2018
INVY-0�
ATTEST: - ,Date: / 2018
City Clerk
ATTACHMENT:
EXHIBIT A. TIF Redevelopment Agreement by and between the City of Canton, Fulton
County,Illinois and Alessandra K. Puleo
Page 2
CANTON 1- DOWNTOWN/5TH AVENUE
TAX INCREMENT FINANCING DISTRICT
TIF REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON, FULTON COUNTY, ILLINOIS
and
ALESSANDRA K. PULED
NOVEMBER 2018
CITY OF CANTON,FULTON COUNTY, ILLINOIS
CANTON 1 - DOWNTOWN/5TH AVENUE TIF DISTRICT
TIF REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
ALESSANDRA K. PULEO
THIS AGREEMENT (including Exht'bits) is entered into this 20"day of November 2018,
by the City of Canton ("City"), an Illinois Municipal Corporation, Fulton County, Illinois; and
Alessandra K. Puleo ('Developer"),individually.
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 65 ILCS 5/8-1-2.5, a municipality may appropriate and expend
funds for economic development purposes, including without Imitation 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 req., 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, the City, recognizing the need to foster the development, expansion and
revitalization of certain properties which are vacant, underutilized or obsolete or a combination
thereof, adopted Tax Increment Financing and created a Tax Increment Allocation Redevelopment
Area under the Act known as the Canton International Harvester Site Project Area TIF District (the
"Canton IH TIF District" is currently known as the "Canton 1 - Downtown/sth Avenue TIF
District") on]uly 6,2004 by Ordinance No. 1805,Ordinance No. 1806 and Ordinance No. 1807 and
hereinafter referred to as the "TIF District"; and
WHEREAS,pursuant to the TIF Act,the City approved the First Amendment to the Canton
IH TIF District on November 22,2011 by Ordinance No.2052;and
WHEREAS, pursuant to the TIF Act, the City approved the Second Amendment to the
Canton IH TIF District on February 6,2012 by Ordinance No. 2071;and
Canton TIF District 1 / Alessandra K.Puleo Redevelopment Agreement 1
WHEREAS, pursuant to the TIF Act, the City approved the Third Amendment to the
Canton IH TIF District on April 5,2017 by Ordinance No.4068,Ordinance No.4069 and Ordinance
No. 4070;and
WHEREAS, included in the TIF District is a Vacant Lot located at 63 and 65 South Main
Street, Canton, Illinois (County PIN 09-08-27-415-019), which the Developer acquired on May 24,
2018; and
WHEREAS, said Vacant Lot is immediately south of and contiguous with a building owned
by the Developer (55 S. Main Street, PIN 09-08-27-415-018), which is also located within the TIF
District and shares a deteriorated, load-bearing wall along the north property fine of PIN 09-08-27-
415-019 (the "Wall:);and
WHEREAS, for purposes of this Agreement,PIN 09-08-27-415-018 and PIN 09-08-27-415-
019 are hereinafter and collectively refereed to as the"Property" (see Exhibit nand
WHEREAS,the Developer is proceeding with plans to undertake repairs and renovations
to the Property,including but not limited to,the installation of new windows to the building as part
of the overall structural and aesthetic improvements to the Wall (the "Project"); and
WHEREAS,the Developer is requesting tax increment financing assistance from the City
for the reimbursement of TIF eligible project costs relating to the Project;and
WHEREAS,it is the intent of the City to encourage economic development which will
increase the real estate tax base of the City and the tax base of other taxing bodies,which increased
incremental taxes will be used,in part, to finance incentives to assist development within the Tax
Increment Financing District;and
WHEREAS,the Developers Project is consistent with the land uses of the City as adopted;
and
WHEREAS,the City has the authority under the Act to incur Redevelopment Project Costs
("Eligible Project Costs") described in Exhibit 1 and to reimburse Developer for such costs
pursuant to 65ILCS 11-74.4-4(j);and
WHEREAS,the City has determined that this Developer's Project requires the incentives
requested herein and that said Developers Project would,as part of the TIF District Redevelopment
Plan,promote the health,safety and welfare of the City and its citizens by attracting new private
investment to prevent further blight and deterioration,provide employment for its citizens and to
generally enhance the economy of the City; and
WHEREAS, the City and the Developer ("Parties") have agreed that the City shall provide
to the Developer a ane-time, lump-sum reimbursement in an amount not to exceed Fifteen
Thousand and 00/100 Dollars ($15,000.00) that is to be paid from the Canton 1 -Downtown/5th
Avenue TIF District Special Tax Allocation Fund as specified below in Section C;and
Canton TIF District 1 /Alessandra K. Puleo Redevelopment Agreement 2
WHEREAS, said reimbursement shall be for TIF eligible project costs that are incurred and
verified by the Developer for the Project;and
WHEREAS, all payments and reimbursements of TIF eligible project costs during the term
of this agreement are herein subject to the Developer obtaining applicable building permits and
complying with all City of Canton Building and Zoning Codes as may be related to the Project. The
Developer and related contractors shall consult with City Staff to receive directions regarding zoning,
utiHnes, fire safety and building code requirements prior to commencing with the Project and shall
meet with City Staff upon request of the City or as deemed necessary during the construction period
to review any revised plans for the Project that would construct,enlarge,alter,repair,move,demolish
or change the occupancy or use of a building or structure or to erect install, enlarge, alter, repair,
remove, convert or replace any electrical,gas,mechanical or plumbing system; and
WHEREAS, the Developer shall make a good faith effort to complete the Project in
conformance with the City's Downtown Streetscape Plan;and
WHEREAS, in consideration of the execution of this Agreement, the Developer has
proceeded with his Project as set forth herein;and
WHEREAS, the City is entering into this Agreement having encouraged and induced the
Developer to complete the Project 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.
3. The City is extending incentives to the Developer in anticipation of the expected completion
of the Project as set forth herein.
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 a Tax Increment Financing District, currently known as "Canton 1 -
Downtown/5th Avenue TIF District" which includes the Property. The City has assisted certain
Redevelopment Projects within the TIF District through incentives, including Developer's Project.
Canton TIF District 1 / Alessandra K.Pulen Redevelopment Agreement 3
C. INCENTIVES
In consideration for the Developer completing the Project as set forth herein,the City agrees
to assist the Developer as follows:
The City shall provide to the Developer a one-time,lump-sum reimbursement in an amount
not to exceed Fifteen Thousand and 00/100 Dollars($15,000.00)that is to be paid from the Canton
1 -Downtown/5th Avenue TIF District Special Tax Allocation Fund subject to Section D and pursuant
to Section E, 'Payment of Eligible Project Caro".
D. LIMITATION OF INCENTIVES TO DEVELOPER
The Developer's reimbursement shall not exceed Fifteen Thousand and 00/100 Dollars
($15,000.00) and shall only be for TIF eligible project costs related to the Project as set forth herein.
1. All payments and reimbursements of TIF eligible project costs during the term of this
agreement are herein subject to the Developer obtaining applicable building permits and
complying with all City of Canton Building and Zoning Codes as may be related to the Project
(City Municipal Code available at https,//vww.cantonillinois.org/municilAlcode .
a. Prior to commencing with the Project, the Developer submitted to the joint Planning
and Zoning Commission of the City (the "Commission') for review and approval a
Petition for Variance and a drawing of the proposed improvements to the south wall
that was prepared by a professional engineer, a copy of which is attached hereto as
Exbibit 2. On October 8,2018,said Petition for Variance and were approved by the
Commission for installingprefinished metal siding on the existing brick south wall that
also property ties such new fagade into the west and east walls of the building. The
City agrees to allow the new facade to include a prefinished metal siding, similar in
material type, thickness and color to what was approved by the City and used on the
east wall of this building. Window openings for residential units will be required as
necessary to meet the Building Code currently enforced by the City of Canton.
b. The Developer and related contractors shall consult with City Staff to receive
directions regarding zoning, utilities, fire safety and building code requirements prior
to commencing with the Project and shall meet with City Staff upon request of the
City or as deemed necessary during the construction period to review any revised plans
for the Project that would construct, enlarge, atter, repair, move, demolish or change
the occupancy or use of a building or structure or to erect install,enlarge,alter,repair,
remove,convert or replace any electrical,gas,mechanical or plumbing system.
c. Upon completion of the Project,the Developer shall request the Commission to verify
compliance with all City of Canton Building and Zoning Codes, including said
Variance approved on October 8,2018,and provide such verification in writing to the
Developer with copy to the City's TIF Administrator.
d. The City shall waive the building permit fee for the Project, provided Developer
complus with Section D (1) (a), (b) and (c) above.
Canton TIP District 1 / Alessandra K. Puleo Redevelopment Agreement 4
2. The Developer shall make a good faith effort to complete the Project in conformance with
the City's Downtown Streetscape Plan, a copy of which is available online at
httos,//wvnv cantonillinois.org/streetscape.
E. PAYMENT OF ELIGIBLE PROJECT COSTS
1. A request for payment to the Developer for Eligible Project Costs as set forth by the Act,shall
be made by a Requisition for Payment of Private Development Redevelopment Costs (See
Exhibit 3,Requisition)in an amount equal to or exceeding Fifteen Thousand and 00/100
Dollars($15,000.00),submitted by Developer to the City's TIF Administrator,Jacob&Klein,
Ltd. and The Economic Development Group (collectively the"Administrator").
2. The Requisition must be accompanied by verified bills or statements of suppliers,contractors,
or professionals together with Mechanic's Lien Waivers as required by the City's Administrator
or Clerk.
3. The Developer shall use such sums as reimbursements for eligible expenses only to the extent
permitted by law and the Act.
4. The Administrator shall approve or disapprove the 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 the Requisition is disapproved by the
Administrator (or subsequently by the Illinois Department of Revenue), 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.
5. 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,adminisnative rules or judicial interpretation during the term of this
Agreement.
6. Eligible Project Costs are broadly defined in the Redevelopment Plan to include all costs
defined in the Act as Redevelopment Project Costs.
F. LIMITED OBLIGATION
The City's obligation hereunder is to pay Developer for Eligible Project Costs, limited to
Fifteen Thousand and 00/100 Dollars ($15,000.00) as set forth above. 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 Gen against the City's general credit or taxing power.
Canton TIF District 1 /Alessandra K. Puleo Redevelopment Agreement 5
G. 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.
H. 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 Developers 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 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.
I. 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 Party's 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
Canton TIF District 1 /Alessandra K. Puleo Redevelopment Agreement 6
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) days period, and
thereafter diligently and continuously prosecutes the cure of such default until the same has been
cured.
J. TIME;FORCE MAJEURE
For this Agreement,time is of the essence;provided 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.
K.ASSIGNMENT
The rights (including, but not limited to, the right to payments contemplated by Seckon C of
this Agreement) and obligations of the Developer under this Agreement shall not be assignable.
L. 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.
M. 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.
(Phe remainder of this page it intentionally blank.)
Canton TIF District 1 /Alessandra K.Puleo Redevelopment Agreement 7
N. 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 Patty, and shall be deemed to have been effective as of the date of actual delivery, if delivered
personally, or as of the third (Y) 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 Developer: To City:
Alessandra K. Palen City Clerk
107 Poplar City of Canton
Canton,IL 61520 2 N. Main Street
Canton,Illinois 61520
Fitb copy to:
John J.McCarthy,Attorney at Law With ropy to City TIFAdminirtrator.
209 East Chestnut Street,Suite 1 Jacob&Klein,Ltd.
Canton,IL 61520 The Economic Development Group,Ltd.
1701 Clearwater Avenue
Bloomington,Illinois 61704
O. SUCCESSORS IN INTEREST
Subject to the provisions of Section K,above,this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns.
P. 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 Parries or any third person to create the relationship of a partnership,agency,or joint
venture between or among such Parties.
Q. 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 developers as
reimbursement for private TIF Eligible Project Costs. This position of the Department of Labor is
stated as an answer to a FAQ on its website at:
Ii//wwwillinoisgov/idol/FAOs/Pages/prevailing-wage-faclasl2x. 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 ILLS 130/0.01 et reg.), 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 or any challenge to the eligibility of project costs reimbursed to the Developer hereunder.
Canton TIF District 1 / Alessandra K. Puleo Redevelopment Agreement 8
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.
R. TITLES OF PARAGRAPHS
Tides 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.
S. 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.
T. TERM OF THE AGREEMENT
This Agreement shall expire upon receipt of the incentives included herein,or December 31,
2019,whichever occurs first.
THIS AGREEMENT IS A LEGAL DOCUMENT. DEVELOPER IS EXECUTING
THIS AGREEMENT WITH FULL KNOWLEDGE AND AFTER HAVING THE
OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL OF DEVELOPER'S
CHOICE.
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 OF CANTON, an Illinois DEVELOPER
Municipal Corporation
Ma r Date Alessandra K. Puleo Date
ATTEST: /
City Ark Date
Canton TIF District 1 /Alessandra K. Puleo Redevelopment Agreement 9
EXHIBIT 1
SUMMARY OF ESTIMATED TIF ELIGIBLE PROJECT COSTS
Alessandra K. Puleo— 55 and 63 South Main Street Project
Canton 1 -Downtown/5th Avenue TIF District
City of Canton,Fulton County, IWnois
Project Description: Developer is proceeding with plans to undertake repairs and renovations to
the Property,including but not limited to,the installation of new windows to
the building as part of the overall structural and aesthetic improvements to a
deteriorated,load-bearing wall along the north property line of PIN 09-08-27-
415-019 and is requesting TIF incentives for the same.
Street Location: 55 and 63 South Main Street,Canton, Illinois
Property Photo:
Estimated Eligible Project Costs•
Repairs and renovations to load-bearing wall
along the north property fine of PIN 09-08-27-415-019............................................................$1VOO.00
Total Estimated TIF Eligible Project Costs.............................................................. $15,000.00
t Although the Developers TIE Eligible Project Costs for the Project may exceed$15,000.00,the City's reimbursement
to the Developer shall not in any event exceed Fifteen Thousand and 00/100 Dollars.
EXHIBIT
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EXHIBIT 3
CITY OF CANTON, ILLINOIS
CANTON 1-DOWNTOWN/5TH AVENUE
TAX INCREMENT FINANCING DISTRICT
PRIVATE PROJECT
REQUEST FOR REIMBURSEMENT
by
ALESSANDRA R PULEO
Date
Attention: City TIF Administrator,City of Canton
Re: TIF Redevelopment Agreement,dated November 20,2018
by and between the City of Canton,Illinois, and
Alessandra K Puleo (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 amount(s), to Alessandra K.
Pufeo 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: Alessandra K. Pufeo
3. AMOUNTS REQUESTED TO BE DISBURSED:
Description of TIF Eligible Project Cost Amount
Total
Canton TIF District 1 /Alessandra K.Puleo Redevelopment Agreement 12
4. The amount requested to be disbursed pursuant to this Request for Reimbursement will be used
to verify TIF Eligible 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
(u) 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
(ii) 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 Developer's Loan Funds are 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 bids, invoices, proof of payment of the invoices, and Mechanic's Lien
Waivers
/relating to all ite'tm�s.for which
t1/a/¢�Develo er's Loan Funds will be used to pay.
BY: 4' ✓Y � �� (Developer)
TITLE: Olt 7/ 1 P t'
APPROYED..CITY O/F� iTON,I OIs
BY:
TITLE: DATE:
REVIEWED BY JACOB&KLEIN,LTD.&THE ECONOMIC DEVELOPMENT GROUP,LTD.
BY
TITLE: DATE
Cautou TIF District 1 /Alessandra K. Puleo Redevelopment Agreement 13