HomeMy WebLinkAbout02-13 Resolution No. 02-13
RESOLUTION
AUTHORIZING EXECUTION OF A FIRST AMENDMENT TO DEVELOPMENT
AGREEMENT WITH AMEREN ENERGY DEVELOPMENT COMPANY
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Ed Schock, Mayor, and Dolonna Mecum, City Clerk,
be and are hereby authorized and directed to execute a First
Amendment to Development Agreement on behalf of the City of Elgin
with Ameren Energy Development Company, a copy of which is
attached hereto and made a part hereof by reference .
s/ Ed Schock
Ed Schock, Mayor
Presented: January 9, 2002
Adopted: January 9, 2002
Vote : Yeas : 7 Nays : 0
Attest :
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
•
FIRST AMENDMENT TO DEVELOPMENT AGREEMENT
THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT ("First
Amendment") is made and entered as of the 9th day of January , 2002 ,by and
between the CITY OF ELGIN, an Illinois municipal corporation("City") and AMEREN
ENERGY DEVELOPMENT COMPANY, a corporation organized and existing under the laws
of the State of Illinois and qualified to do business in Illinois ("Company").
RECITALS
WHEREAS, the City and the Company entered into a certain Development Agreement
dated the Fifteenth day of June, 2001, (the"Agreement")pursuant to which, subject to certain
terms, conditions and contingencies, inter alia,the Company agreed to develop certain real
property in consideration of certain incentives from the City; and
WHEREAS, despite good faith efforts to do so, the Company has been unable to satisfy
certain contingencies therein, and the City and Company desire to amend the Agreement to
extend the expiration dates for the contingencies described in Sections 3(a) and 3(b) thereof.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,the parties hereto
agree as follows:
1. Extension of Expiration Dates.
(a) Section 3(a)of the Agreement is hereby amended by deleting the words"On or
before January 11,2002" and replacing them with the words "On or before April
11,2002."
(b) Section 3(b) of the Agreement is hereby amended by deleting the words"On or
before January 11, 2002" and replacing them with the words"On or before April
11,2002."
2. Execution. This First Amendment may be executed by telefax and in more than one
counterpart, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument.
3. No Other Amendments. Except as expressly amended herein, the Agreement remains in
full force and effect.
IN WITNESS THEREOF,this First Amendment is effective as of the date first above
written.
CITY OF ELGIN, a municipal corporation AMEREN ENERGY DEVELOPMENT
COMPANY
By: ikW---Cevg04---..
Ed Shock By: j4f/1-1
LI�C�
Mayor Robert L.Powers
Vi Presid t
Attest: Attest:
Dolonna Mecum piliv410 K. EVRws
City Clerk Title:
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Agenda Item No.
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January 4 , 2002
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ECONOMIC GROWTH
TO: Mayor and Members of the City Council
FROM: Joyce A. Parker, City Manager
SUBJECT: First Amendment to Development Agreement with Ameren
Energy Development Company
PURPOSE
The purpose of this memorandum is to submit information to the
Mayor and members of the City Council for consideration of a
proposed First Amendment to the Development Agreement between the
City and Ameren Energy Development Company.
BACKGROUND
On June 15 , 2001, the City and Ameren Energy Development Company
entered into a Development Agreement . The Development Agreement
relates to Ameren Energy' s proposed development of a natural gas
powered electricity generating facility on the property located at
the southeast corner of Spaulding and Gifford Roads in Elgin. A
copyof the Development Agreement is attached.
subjectP g
Section 3 of the subject Development Agreement provides that the
Development Agreement and the obligations of Ameren Energy are
subject to specified contingencies . Section 3 (a) relates to
governmental approvals and Section 3 (b) relates to the company
having determined the development operation of the facility is
economically and physically feasible . The subject Development
Agreement currently provides for Ameren Energy to resolve the
contingencies in Sections 3 (a) and (b) on or before January 11,
2002 .
Ameren Energy is requesting an amendment to the Development
Agreement whereby the January 11, 2002 date in Sections 3 (a) and
(b) of the subject Development Agreement would be extended three
(3) months until April 11, 2002 . A copy of the proposed First
Amendment to the Development Agreement providing for such amendment
is also attached.
First Amendment to Development Agreement with Ameren
January 4 , 2002
Page 2
COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED
None .
FINANCIAL IMPACT
None .
EGAL IMPACT
None .
ALTERNATIVES
1 . Approve the First Amendment to the Development Agreement .
2 . Do not approve the First Amendment to the Development
Agreement .
RECOMMENDATION
It is recommended that the City Council approve the proposed First
Amendment to the Development Agreement with Ameren Energy
Development Company.
Respectfully submitted,
3 O e t+ e,.46-3
Joyckk A. Parker
City Manager
WAC/mg
Attachment