HomeMy Public PortalAboutOrdinance 2679
ORDINANCE N0.2679
AN ORDINANCE ADOPTING AN AGREEMENT AUTHORIZING REIMBURSEMENT
FOR THE CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC
FOR THE VILLAGE OF PLAINFIELD
WHEREAS, the VILLAGE is authorized by the Illinois Municipal Code (65 ILCS
5/9-5-1 et. seq.) to enter into agreements to provide for the recapture of offsite
improvement costs.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF PLAINFIELD, AS FOLLOWS:
I. That the Agreement Authorizing Reimbursement for the Construction of
Improvements Beneficial to the Public for the Village of Plainfield which is
attached hereto and made a part hereof, is hereby adopted by the
President and Board of Trustees of the Village of Plainfield.
This Ordinance shall be in fiull force and effect from and after its passage,
approval and filing as required by law.
PASSED THIS 20T" DAY OF AUGUST, 2007.
AYES: Fay, Lamb, Manning, Racich, Vaupel
NAYS: None
ABSENT: Dement
APPROVED THIS 20T" DAY OF AUGUST, 2007.
VILLAGE OF PLAINFIELD
~~.- BY:
_- ~ - ,, ~~
VILLAGE CLERK
R2a~712964~_ 1
tI~ MCP~ItlIPS ~4P R Z~0~1~~640
Will Caunly Revorder Rags 1 of 14
STATE OF ILLINOIS )
) SS.
COUNTY OF WILL )
RAa pa~.e 08/28/217 ;ima1'34.75
Retard ir+g ~es~ : Support. Prog • 0.00
IL Rental Hsn9
I, Michelle Gibas, the duly appointed Village Clerk of the Village of Plainfield, Will and
Kendall Coruities, Illinois, do hereby certify that the above and foregoing is a true and
correct Dopy an Agreement Authorizing Reimbursement faz the Canstruction of
Improvements Beneficial to the Public between the Village of Plainfield and MAF
Developments for Roadway Improvements to 127' Street.
IN WITNESS WHEREOF, this 22"d day of August, 2007.
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MICHELLE GIBAS, VILLAGE CLERK
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AN AGREEMENT AUTHORIZING REIMBURSEMENT FOR THE CONSTRUCTION
OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC
PIN: 07-01-29-300-009
07-01-29-300-010
07-01-30-400-002
07-01-30-400-006
07-01-31-200-001
THIS AGREEMENT AUTHORIZING REIMBURSEMENT FOR CONSTRUCTION
OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC is entered into this ~. day of
August, 2007 (hereafter referred to as the "AGREEMENT") by and between the
VILLAGE OF PLAINFIELD, a municipal corporation located in Will and Kendall County,
Illinois, (hereafter referred to as "VILLAGE") and MAF DEVELOPMENTS, INC.
(hereafter referred to as "DEVELOPER").
WHEREAS, DEVELOPER is the owner of record of real estate described in
Exhibit "A" (hereinafter referred to as the "SHENANDOAH PARCEL"); and
WHEREAS, DEVELOPER has made or intends to make certain roadway
improvements to 127T" Street in the following location: from the east property line of the
parcel to a point west of Heggs Road (hereinafter referred to as "IMPROVEMENTS");
and
WHEREAS, the IMPROVEMENTS are valuable and substantial improvements
benefiting property described in Exhibit "B" and shown in Exhibit "C" which are attached
~zgbz~/i 1 of 13
hereto and made a part hereof and which are further described as the "BENEFITING
PROPERTY"; and
WHEREAS, it is the opinion of the corporate authorities of the VILLAGE that
such IMPROVEMENTS benefit the property described in Exhibit "B"; and
WHEREAS, the VILLAGE is authorized by the Illinois Municipal Code (65 ILCS
5/9-5-1 et. seq.) to enter into agreements to provide for the recapture of offsite
improvement costs.
NOW, THEREFORE, in consideration of the mutual promises and agreements set forth
herein, the parties hereto agree as follows:
SECTION 1
The foregoing recitals are hereby incorporated by reference into the body of this
AGREEMENT as if fully set forth and repeated.
SECTION 2
The cost of the IMPROVEMENTS, as described in Exhibit "B", attached hereto and
made a part hereof, have been estimated in the sum of one million nine hundred ninety-
five thousand three hundred forty-three dollars ($1,995,343). The DEVELOPER shall
be entitled to recapture fifty percent (50°/4) of those costs constituting the
IMPROVEMENTS in the amount of nine hundred ninety-seven thousand six hundred
seventy-two dollars ($997,672) from the BENEFITING PROPERTY as described in
Exhibit "B".
At the time the VILLAGE accepts the IMPROVEMENTS for which recapture is sought,
the DEVELOPER will have 60 days to file said certified costs with the VILLAGE. Should
the DEVELOPER fail to file said certified costs within 60 days, this AGREEMENT will
become null and void. VILLAGE acceptance, for the purposes of recapture, will occur
at the time that the Village Board reduces the DEVELOPER'S performance guarantee
(letter of creditor bond) for recapturable improvements.
The VILLAGE recognizes certain improvements may occur in stages, therefore the
following certification process is permitted:
A) Roadways: Certification may occur in two phases. Phase one may include:
excavation, sub-base, base course, binder course, curb and gutter, sidewalk,
and storm sewer. Phase two encompasses all remaining improvements
which may include final surface course, striping, and lighting.
B) Water and sanitary sewer: Certification will occur in one phase: at
completion.
SECTION 3
The VILLAGE agrees to assist the DEVELOPER in collecting said estimated sum of
nine hundred ninety-seven thousand six hundred seventy-two dollars 997 672) from
izs6z~n 2 of 13
the BENEFITING PROPERTY, including requiring said payment as a condition of any
final plat of subdivision or before any building permits are issued, whichever occurs first,
as to the BENEFITING PROPERTY.
SECTION 4
The payment set forth in the preceding paragraph, plus any applicable interest, when
collected by the VILLAGE, shall be promptly paid to the DEVELOPER as soon as
practical after the first (15t) day of the month following the month of the receipt of such
payments but, in any event, no later than the thirtieth (30th) day of the month following
the month of this receipt.
SECTION 5
The term of this AGREEMENT shall remain in full force and effect until the earlier of
which occurs (i) such time as the DEVELOPER has been fully reimbursed far that
portion of the reimbursement attributable to the BENEFITING PROPERTY as herein
provided; or (ii) ten (10) years from the date of this AGREEMENT.
SECTION 6
Interest at the rate of four percent (4%) per annum will be charged on any unpaid
amounts beginning two years after the completion and acceptance by the VILLAGE of
said IMPROVEMENTS or execution of this AGREEMENT, whichever occurs sooner.
An administrative fee shall be charged at the rate of two percent (2%) of the total
recapturable amount payable to the VILLAGE to cover administrative costs of the
recapture AGREEMENT.
SECTION 7
Furthermore, the VILLAGE shall not be obligated to make any payments to the
DEVELOPER unless said recapture funds are actually received from the benefiting
property owners. Also, the DEVELOPER shall bear all costs of enforcing or defending
the implementation of this AGREEMENT and shall hold the VILLAGE harmless and pay
on behalf of the VILLAGE and its officers any damages assessed them as a result of
the entry into or enforcement of this AGREEMENT.
SECTION 8
The VILLAGE shall make efforts to forward any recapture payment amounts as set forth
herein, but shall not be obligated to bring any suit to enforce the collection of same, nor
shall the VILLAGE or any of its officials be liable to the DEVELOPER or his successors
or assigns in any manner for failure to make such collections.
SECTION 9
Any modifications to the VILLAGE'S standard recapture agreement provisions are set
forth in Exhibit D. The DEVELOPER and VILLAGE agree that should any conflicts
between Exhibit D and the text of this AGREEMENT exist, the provisions of Exhibit D
shall supersede those of the text of this AGREEMENT.
izabz~/1 3 of 13
SECTION 10
Any notice to be given or seared hereunder or under any document or instrument
executed pursuant hereto shall be in writing and shall be: (i) delivered personally, with
receipt requested therefore; or (ii) sent by telecopy facsimile; or (iii) sent by a
recognized overnight courier service; or (iv) delivered by United States registered or
certified mail, return receipt requested, postage prepaid. All notices shall be addressed
to the parties at their respective addresses set forth below, and the same shall be
effective:
a) upon receipt or refusal if delivered personally or by telecopy facsimile;
b) one (1) business day after depositing such with an overnight courier service;
or
c) two (2) business days after the deposit in the mail, if mailed.
A party may change its address for receipt notices by service of a notice of such change
in accordance herewith. All notices by telecopy facsimile shall be subsequently
confirmed by U.S. certified or registered mail.
If to the VILLAGE: Village Clerk
Village of Plainfield
24401 W. Lockport Street
Plainfield, IL 60544
If to DEVELOPER: Ms. Bernice Ellis
MAF Developments, Inc.
607" Chicago Street, Suite 101
Plainfield, IL 60544
SECTION 11
If any provision, clause, word or designation of this AGREEMENT is held to be invalid
by any court or competent jurisdiction, such provision, clause, word or designation shall
be deemed to be excised from this AGREEMENT and the invalidity thereof shall not
affect any other provision, clause, word or designation contained herein.
Notwithstanding the foregoing, if a court of competent jurisdiction determines by final
order that the amount of the fees or interest payable hereunder exceeds the amount
that may be recaptured by the DEVELOPER under currently existing or subsequently
enacted by law, then such amount shall be automatically reduced to such amount as
the court then determines would conform to such requirements of law so that the
provision establishing the fees and interest payable maybe given force and effect. The
parties agree all actions instituted to enforce this AGREEMENT shall be commenced
and heard in the Circuit Court of Will County, Illinois, and hereby waive venue in any
other court of competent jurisdiction.
128627/1 4 of 13
APPROVED THIS 20th DAY OF August, 2007.
VILLAG
PREPARED BY AND RETURN TO:
VILLAGE OF PLAINFIELD
24401 W. LOCKPORT ST.
PLAINFIELD, IL 60544
ATTN: VILLAGE CLERK
Subscribed and sworn to before me
this ~..~day of , 2007.
C~~
NOTARY PUBLIC
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C~iOL A. (~T7'
AAY PIJBUC STA7'!E OF
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EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY BEING
DEVELOPED WITH OFFSITE IMPROVEMENTS
Shenandoah "The Great Meadow" Unit 1:
THAT PART OF 'THE NORTHEAST QUARTER OF SECTION 3! ANp. PART
OF THE NC7RT~ST" QUARTER OF SECTION 32, I.N TOWNSHIP 37
NORTH , RANGE 9 EAST OF This THIRD PRINCIPAL MER I' D`I AN
t7E5CR I Bv;D AS FI~LLOWS ;
BEGINNING AT' THI NORTHWEST CCIRNER OF NATURE'S Cl~t?SS 1 NG UN I T
2 , BIB ! NG A SUBC} f V I S I C~'N OF PART' C?F` THE Wl;~ST HALF pF THE
SC?t1THwd~S'r QUARTER OF SECTION ~ TQwNSHt 37 NQRTH, RANC3E
EAST OF' THE THIRD PRINCIPAL MI'RlOIAN, ACCORDING TO THE PLAT
THE'REO>= RECORDED NOVEMBER 1 7`, 1998 AS DOCUMENT R9$- I ~~'+~'~~ 1 N
WdLL COUNTY'; ILLINOIS, SAID CORNER ALSO CQINCI[?ENT 1fNlTH THE
5Ot1THEAST CdDI~NFR OF SA i D NORTHEAST QUARTER AS PAR A~NUMENT
RECORD R89 -p4Q88 ; THENCE SOUTH 88 DEGREI~S ~ ! A+I I NUTiS ~?
SECONd75 WEST (BEARINGS ..ARC ASSUMED FOR DESCRIPTdON PURPOSE'S
QNf*Y ~ AL01VG 1'f~E SOUTH LINE OF SAID N067TNEAST Q[1ARTER ,
I Ot12. 29 FEET Tp THE EAST L 1 NE Or~' PROPERTY D1 SCR I,BEO I N A
C7EED RICORC}C3 AS DOCUMENT R,94-gI9056, THENCE NORTH f~,i
DEGREES !3 MINUTES 3I SECON[~S WEST ALONG SAID EAST SINE,
488.0 ~"irET TO TIC NORTHEAST CQRiVE~R THE;i~i~OF ; THENCE SOUTH
88 DEGREES 45 MCNUTES 5~ SECONDS WEST ~1L+aNG "THE NORTH LINE
OF SAID DEEP, IG52.83 FEET TO THE WEST LINE OF SAID
NORTHEAST QUARTER; THENCi* NORTW O! DEGREES 44 MINUTES O5
SECONDS WEST ALONG SAID WEST LNNE, 683,.88 FEET; THENCE
NORTH 8$ C7EGREES 15 11A1 Nl1TE5 55 SECC?Np'S EAST, 5t7, OS~ FfEET;
THENCE SOUTH 7 D'E'GREES N 7 M! NUTIES 59 SlCQNpS EAST, 63.25
FEI= T ; THENCE 'Nt)t~TH QS t~EGEFS 15 MINUTES a SECONDS EAST ,.
I ~~ . 00 FEET;; THENCE NL7R;TH O f C)EGREES 44 MINUTES 05 5ECON(?S
WEST , ;~ . OQ i"EET ; fiF(ENCE ~IC?RTH 88 DEI°~EES 1 ~ MINUTES 5
SECONDS EAST', 125.00 FECT"; THENCE NORTM 7'4 DEGREES I8
N1dNUTES 20 SECONDS EAST`, fi1.83 FEET; THENCE NORTH B9
DEGREES !~ MINUTES 55 SECONpS EAST, !84.40 FEt~T; THENCE
SOUTH' 82 DEGt~?!;)=S 29 MINUTES 18 SI~,CONt}S EAST. 1 78. ~8 FEET;
TI~ENCE NQRTH 89 DEGREES ~*~ MINUTES 47 SECQNDS EAST, IO8.17
FEET; THENCE NC3RTH 27 DE~R>~ES ~4 MINUTES 49 SEGCJNf]S EAST,
6:32.56 FEET; THENCE NORTH 22 DEGREES 28 MNNUTE'S 2''8 SECONDS
EAST, 66.32 I"EET; THENCE NO'R'TH i[ DEGREEES 04 MINUTES 4T
SECONDS Es#ST, 70. T7 FEET'; THENCE I+1ORTd-f OO DEGREES: 30.
MINUTES 59 SECONDS EAST, 7I .45 ~''EET; THENCE NORTH OI
DEGE~'Ci~S 13 MINUTES IO SECQNDS WEST, 7'38.97 FEET" TO THE
NQRTH LINE OF 5A 1 D NgRTi~iFAST QUARTER ; THENCE NORTH ~
DEGREES 46 M i NUTES 5O SEC(3NC1S EAST , 939.87" Fd~ET TO THE
NORTHEAST CORNER O'F SA1D NORTHEAST QUARTER AS E'ER MONUMENT
RECOF71 RB9 -Q4s~8+5 ; THENCE NQRTH 88 DEGREES 29 M J NUTSS 39
SIECONDS EAST i4Lt3NG THE NORTH L 1 NE OF THE NORTHWEST Qt3ARTER'
OF SAi}~ SECTION 32, A DISTANCE OF 560.Cff FEET TC! THE EAST
LINE OF TWE WI~ST ~O RODS OF SAID NORTHWEST QUARTER; THENCE
SOUTH O1 DEGRE-ES'SI MINUTES I5 SECONpS EAST" ALONG SAID .EAST
L N NE , 267 , 6~ FEET TO "CHI; SOUTH LINE OF SA ! D NOR'TI~NEST
QUARTER.;. THENCE ®UT"H' 98 DEr3REES 42 MINUTES 13 SECONDS WEST'
ALONG SAID SOUTH LINE. 66Q,O3 FEET Tt~ THE POINT OF
BEGINNd;NG, !N WItWI„„ COUNTY, ILLINOIS.
128627/1 6 of 13
EXHIBIT A (COntlnued)
LEGAL DESCRIPTION OF PROPERTY BEING
DEVELOPED WITH OFFSITE IMPROVEMENTS
Shenandoah "The Great Meadow" Unit 2:
THAT PART 6~F THE NORTHEAST QUARTER of SECTION 3I, TOWNSHIP
37 NORTH, RANGE EAST OF THE THIRD PRINCIPAL MERIDIAN
DESC1~, I BECK AS FOLLOWS ;
C(9t~IENCING AT THE. NORTHWEST CORNER OF NATURE"S CROSSENG
UNIT 2, BEING A SUBC)IVEEON OF' PART OF THE WEST HALF O!: THE
50UTHWgE,ST gUARTER C1F SECTION 32 , TOwNSH l P 3'7 NORTE-p, RANGE ~
EAST QF THE THED PRINCIPAL MER1131AN, ACCQRI)!NG TO THE FLAT
THEREOF RECC?Rf7Ep NQVEME3ER 17 , 1998 AS DOCttM1= NT R9E3.. 1.370398 I N
WILL COUNTY ILLINOIS, SAi'D C~3RIVER ALSO COINCIDENT W'17'H THE
SOI:THEAST CORNER OF' SAID NORTHEAST QUARTER AS PER MONUMENT
R~C'ORD R89-04088>; T'HENCE 50UTH F3 DEGREES 41 M(NU7'ES '~"
SECONt~S WEST t DEAR I NGS ARE ASSUMED FC~R i~ESIR I PT I CN PURPOSES
ONLY ALONG THE SOUTH L#NE OF SAID NORTHEAST QU;4RTE`R;;.
I c~E~2.29 ~"EET TO THIS' EAST LINE OF PROPERTY DESCRIBED I N IJI~E= D
RECORpED AS D(7CUMENT R9'4-C7l9056, THENCE Nt7RTH OI DEGREES 1
MINUTES ~1 SECONDS WI ST ALONG SAID EAST LINE, 488.p7 FEET
TO THE NORTHEAST CORNER TI-IEREOF; THE'fVCIM SOUTH 88 Et;REIWS 45
M I tVUTE'S 52 SECONf)S WEST ALt7N'f3 THE NORTH ~. ! NE O!" SAID DEED ,
1652.83 FEET TO THE WEST LINE OF SA 1.1»7 tORTHEAST QUARTER;
THENCE NORTH OI 4EGRa;ES 44 MINUTE'S p5 SECONDS WEST ALONG
SAID WEST LENS, 683,88 FEET TO THE POINT OF BEGINNING;
THENG~ CaNTINUING NORTH OI E)EGRE'ES 44 M-NUTES 05 SECt~IVDS
WEST ALONG SAID WEST LINE, I475.~ FEET TO THE NORTHWEST
CORNER OF SAiD NORTHEAST QUARTER: THENCE NQFRTH 8BI17EGREES
46 MINUTES 5O SECONDS EAST AL.gNG THE NORTH LfNE OF SAID
NORTHASI° QUARTER, 1,705.71 FEET TO THE N01~7"HWEST CORNER OF
SHENANDOAH "THE GREA1" MEApQW" .. !JN I T I [THE Ft~LLt~W 1 NG 1 4
Cf7URSE5 ARE AE..QNt3 THE WEST 80UNDARY OF SAID SHENANG3OAH "THE
GREAT MEADOW" - UNIT 11; THENCE SOUTH.~?E DI~:GREES 13 MINUTES
IO SECONDS EAST, 738..97 Er=ET; THI•I+CE SOUTH DO DEGREES 3O
M I NUTES 39 SlzCONC3S YVEST , 7 E- . 49 FEET ; THENCE SOUTH I 1
DEGREES C}4 ltiAIiVUTES 47 SECC7NDS WEST, 7't7,7"7" FEET; THENCE.
SOUTH 22 DEGREES 28 MI NUTES C8»SECONDS WEST, 66.E FEE=T;
THENCE SOUTH 27 pEGREES 34 MINUTES 49 SECQN~3S 'WEST, 032.56
FEET 1 THENCE sQUTFi E39 DEGRE„.ES 44 ME NUTES ~¢~` SECONDS WEST,
108 , N ~" FE=ET ; THENCE "NORTH 8~ t~EG;RIES 29 MINUTES I E~ SECONDS
WEST,, 178:,.38 FEE1"; THENCE SOUTH 198 DEGREES 15 MINt1TE5 55
SECONDS WEST, E84,4O FEET; THENCE SOUTH 74 DEGREES IS
MINUTES 20 SECONDDS WEST , 6 I .83 FEET ; THENCE: SOUTH 88
DECREES 15 MINUTES 55 SECONC~S WEST, 125.00 FEET; ThiENCE
SOUTH OI DEGREES 44 MINUTES 05 SECONDS EAST, 5.00 FEET
THENCE= SOUTH 88 DEGE~EES I9 MINUTES 55 SECONDS WEST, 125.00
FEET; THENCE Nt3RTH 73 DEGE~EES I7 MINUTES 59 SECONDS WEST,
63.25 FEET; THENCI= SOUTH $E3 DEGREES 15 MINUTES 55 SECONDS
WEST, 508.00 Fi~,ET TO THE Pt1ENT OF 9EG8NNIN'G, IN WELL COUNTY,
ILI.ENOES.
~zsbz~/i 7 of 13
EXHIBIT B-1
DESCRIPTION OF BENEFIT AREA
Parcel One (Salamie)
PIN # 01-30-400-006-0000
THE SOUTH 1455.19 FEET EXCEPT THE NORTH 341 FEET THEREOF, OF THE
WEST 1/z OF THE SOUTHEAST r/a OF SECTION 30, TOWNSHIP 37 NORTH,
RANGE 9 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL COUNTY,
ILLINOIS.
Parcel Two (King)
PIN # 01-30-400-002-0000
THE EAST'/z OF THE SOUTHEAST 1/a OF SECTION 30, TOWNSHIP 37 NORTH,
RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN WILL COUNTY,
ILLINOIS.
Parcel Three (Rousonelos)
PIN # 01-29-300-009-0000
THE WEST 1/2 OF THE SOUTHWEST 1/4 OF SECTION 29, TOWNSHIP 37
NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, EXCEPTING
THEREFROM THAT PART DESCRIBED AS FOLLOWS: COMMENCING AT THE
SOUTHWEST CORNER OF SAID SECTION 29, THE POINT OF BEGINNING,
THENCE EAST ALONG THE SOUTH LINE OF SAID SECTION 29 A DISTANCE
OF 210 FEET, THENCE NORTH A DISTANCE OF 525 FEET ALONG A LINE
PARALLEL TO THE WEST LINE OF SAID SECTION 29, THENCE WEST ALONG
A LINE PARALLEL TO THE SOUTH LINE OF SAID SECTION 29, A DISTANCE
OF 210 FEET TO THE WEST LINE OF SAID SECTION 29, THENCE SOUTH
ALONG THE WEST LINE OF SAID SECTION 29, A DISTANCE OF 525 FEET TO
THE POINT OF BEGINNING.
Parcel Four (Rousonelos)
PIN # 01-29-300-010
THAT PART OF THE WEST 1/2 OF THE SOUTHWEST 1/4 OF SECTION 29,
TOWNSHIP 37 NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN,
DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF
SAID SECTION 29, THE POINT OF BEGINNING, THENCE EAST ALONG THE
SOUTH LINE OF SAID SECTION 29 A DISTANCE OF 210 FEET, THENCE
NORTH A DISTANCE OF 525 FEET ALONG A LINE PARALLEL TO THE WEST
LINE OF SAID SECTION 29, THENCE WEST ALONG A LINE PARALLEL TO THE
SOUTH LINE OF SAID SECTION 29, A DISTANCE OF 210 FEET TO THE WEST
LINE OF SAID SECTION 29, THENCE SOUTH ALONG THE WEST LINE OF SAID
SECTION 29, A DISTANCE OF 525 FEET TO THE POINT OF BEGINNING.
~zsbz~ii 8 of 13
EXHIBIT B-~2
DESCRIPTION OF DISTRIBUTION
tzs~2~it 9 of 13
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EXHIBIT C
MAP OF BENEFIT AREA
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EXHIBIT D
MODIFICATIONS TO THE RECAPTURE AGREEMENT
1. Estimated Improvement Costs
The VILLAGE recognizes and agrees that the actual costs of these IMPROVEMENTS
may exceed the estimated costs by more than the 10% allowed in the AGREEMENT,
and no further approval shall be required by the VILLAGE if the actual costs do in fact
exceed the estimated costs. DEVELOPER shall provide certified costs to the VILLAGE
pursuant to the AGREEMENT for review and approval. If the actual casts are greater
than the amount previously paid by the owner or developer of such BENEFITING
PROPERTY, then the owner or developer of such BENEFITING PROPERTY shall pay
the difference to the VILLAGE and the VILLAGE shall reimburse DEVELOPER for such
costs as set forth in this Agreement. If the actual costs are less. than the amount paid
by the owner or developer of such BENEFITING PROPERTY, then the DEVELOPER
(ar the VILLAGE, if such funds have not been paid to DEVELOPER by the VILLAGE)
shall refund or reimburse the owner or developer of such BENEFITING PROPERTY for
any overpayment. The reimbursement described in this Section shall be payable within
thirty (30) days of the reconciliation of costs. The VILLAGE shall notify the owners
and/or developers of the BENEFITING PROPERTY that the reconciliation has occurred,
and the owners and/or developers shall thereafter pay any additional amounts owed
within thirty (30) days of the delivery of such notice by the VILLAGE. The VILLAGE
shall not issue additional building permits to any owner or developer who owes
additional funds to DEVELOPER pursuant to the terms of this Section until such
additional funds have been paid in full.
2. Term of Recapture Agreement
Due to the cost of the IMPROVEMENTS, the term of this Agreement shall remain in full
force and effect until the earlier of the following: (i) such time as the DEVELOPER has
been fully reimbursed for that portion of the reimbursement attributable to the
BENEFITING PROPERTY as herein provided; or (ii) the latter of ten (10) years from the
date of completion of the IMPROVEMENTS and acceptance by the VILLAGE or ten
(10) years from the date of this Agreement.
128627/1 13 of 13
August 22, 2007
Ms. Laurie McPhillips
Will County Recorder
58 East Clinton Street
Joliet, IL 60432
Dear Ms. McPhillips:
Please record the attached document:
An Agreement authorizing reimbursement for the construction of improvements beneficial to the
public between the Village of Plainfield and MAF Development for Roadway Improvements to 127`t'
Street.
Please invoice the Village of Plainfield and return to our office. Please send to the Village of
Plainfield, 24401 W. Lockport Street, Plainfield, IL 60544. Thank you for your assistance in this
matter.
Respectfully,
Michelle Gibas
Village Clerk
I `-'
ORDINANCE NO. 2679
AN ORDINANCE ADOPTING AN AGREEMENT AUTHORIZING REIMBURSEMENT
FOR THE CONSTRUCTION OF IMPROVEMENTS BENEFICIAL TO THE PUBLIC
FOR THE VILLAGE OF PLAINFIELD
WHEREAS, the VILLAGE is authorized by the Illinois Municipal Code (65 ILCS
5/9-5-1 et. seq.) to enter into agreements to provide for the recapture of offsite
improvement costs.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF PLAINFIELD, AS FOLLOWS:
I. That the Agreement Authorizing Reimbursement far the Construction of
Improvements Beneficial to the Public for the Village of Plainfield which is
attached hereto and made a part hereof, is hereby adopted by the
President and Board of Trustees of the Village of Plainfield.
This Ordinance shall be in full force and effect from and after its passage,
approval and filing as required by law.
PASSED THIS 20T" DAY OF AUGUST, 2007.
AYES: Fay, Lamb, Manning, Racich, Vaupel
NAYS: None
ABSENT: Dement
APPROVED THIS 20T" DAY OF AUGUST, 2007.
VILLAGE OF PLAINFIELD
BY:
ATT
.~-~~'
VILLAGE CLERK