HomeMy WebLinkAbout07-260 •
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Resolution No. 07-260
RESOLUTION
AUTHORIZING EXECUTION OF A DEVELOPMENT AGREEMENT
WITH CHANNING SQUARE, L.L.C.FOR REDEVELOPMENT OF
111 N.CHANNING STREET,468 DIVISION STREET,A PORTION OF
472 DIVISION STREET,272 N. SPRING STREET AND
279 N. SPRING STREET
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that
Ed Schock,Mayor,and Diane Robertson, City Clerk,be and are hereby authorized and directed to
execute a development agreement on behalf of the City of Elgin with Charming Square,L.L.C.,for
redevelopment of 111 N. Charming Street, 468 Division Street, a portion of 472 Division Street,
272 N. Spring Street and 279 N. Spring Street, a copy of which is attached hereto and made a part
hereof by reference.
s/Ed Schock
Ed Schock,Mayor
Presented: October 24,2007
Adopted: October 24,2007
Vote: Yeas: 5 Nays: 2
Attest:
s/Diane Robertson
Diane Robertson, City Clerk
DEVELOPMENT AGREEMENT
THIS AGREEMENT made and entered into as of the 24th day of October, 2007,by and
between the CITY OF ELGIN, an Illinois municipal corporation (hereinafter referred to as the
"City"); and CHANNING SQUARE, L.L.C., an Illinois limited liability company (hereinafter
referred to as"Developer").
WHEREAS,the City is the owner of the property commonly known as 111 N. Channing
Street, Elgin, Kane County, Illinois, such property being legally described in Exhibit A attached
hereto, (hereinafter referred to as the"111 N.Charming Property"); and
WHEREAS, the City is also the owner of the property commonly known as 468 Division
Street, Elgin, Kane County, Illinois, such property being legally described in Exhibit B attached
hereto, (hereinafter referred to as the"468 Division Property"); and
WHEREAS, the 111 N. Charming Property and the 468 Division Property are contiguous
(such 111 N.Channing Property and 468 Division Property being hereinafter collectively referred to
as the"Channing Property");and
WHEREAS,the City is also the Owner of the property commonly known as 272 N. Spring
Street, Elgin, Kane County, Illinois, such property being legally described in Exhibit C attached
hereto, (hereinafter referred to as the"272 N. Spring Property"); and
WHEREAS,the City is also the owner of the property commonly known as 279 N. Spring
Street, Elgin, Kane County, Illinois, such property being legally described in Exhibit D attached
hereto, (hereinafter referred to as the"279 N. Spring Property"); and
WHEREAS, the Charming Property, the 272 N. Spring Property and the 279 N. Spring
Property are hereinafter collectively referred to as the"Subject Properties";and
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WHEREAS,the 111 N.Charming Property was previously improved with a former YMCA
facility which was beyond the state of repair and has since been demolished by the City and such
property is currently vacant;and
WHEREAS,the 468 Division Property is currently improved with a dilapidated and blighted
single family residence which is beyond the state of repair and needs to be demolished; and
WHEREAS, the 272 N. Spring Property is currently improved with a dilapidated and
blighted single-family residence which is beyond a state of repair and will be demolished by the
City;and
WHEREAS, the 279 N. Spring Property was previously improved with a dilapidated and
blighted converted multi-unit residence and was beyond a state of repair and has since been
demolished by the City and such property is currently vacant; and
WHEREAS,the Developer has submitted to the City a proposal for the redevelopment ofthe
Charming Property providing for thirteen(13)detached single-family homes to be developed on the
Charming Property as hereinafter described; and
WHEREAS, Developer has also submitted to the City a proposal for the redevelopment of
the 272 N.Spring Property and the 279 N. Spring Property with new detached single-family homes
as hereinafter described; and
WHEREAS,the city council of the City of Elgin has adopted Ordinance Numbers S6-99,S 1-
02, S2-02, S3-02, and S4-02 proposing, approving and creating the Elgin Central Area Tax
Increment Financing Redevelopment Plan and Project pursuant to the Tax Increment Allocation
Redevelopment Act at 65 ILCS 5/11-74.4-1 et seq.; and
WHEREAS,the 272 N. Spring Property and the 279 N. Spring Property are located within
the Elgin Central Area Redevelopment Project area; and
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WHEREAS,Developer's proposals for the redevelopment of the Charming Property,the 272
N. Spring Property and the 279 N. Spring Property will result in new quality single-family
residences being constructed in the city and will result in increases in the city's tax revenues; and
WHEREAS, Developer's proposals for the redevelopment of the Subject Properties will
likely result in further redevelopment of properties surrounding the referenced properties; and
WHEREAS, the city council of the City has determined that Developer's proposed
redevelopment of the 272 N. Spring Property and the 279 N. Spring Property as hereinafter
described will further the goals and objectives of the Elgin Central Area Tax Increment Financing
Redevelopment Plan and Project;and
WHEREAS,it is unlikely that the proposed redevelopment of the Charming Property, the
272 N. Spring Property and the 279 N. Spring Property will occur in the absence of limited
development assistance from the City;and
WHEREAS,in order to provide for the proposed redevelopment of the Channing Property,
the 272 N.Spring Property and the 279 N.Spring Property as hereinafter described which will result
in the development of quality single-family residences,the likely redevelopment of areas near such
properties, which will further the goals and objectives of the Elgin Central Area Tax Increment
Financing Redevelopment Plan and Project and which will result in increases in the City's tax base,
the City has agreed to provide certain development assistance as hereinafter described; and
WHEREAS, the City of Elgin is a home rule unit authorized to exercise any power or
perform any function pertaining to its government affairs;and
WHEREAS,this Development Agreement resulting in the establishment of quality single-
family residences,the redevelopment of areas near the properties to be redeveloped,the furthering
and achieving the goals and objectives of the Elgin Central Area Tax Increment Financing
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Redevelopment Plan and Project and increases in the City's tax base are matters within the
government affairs of the City; and
WHEREAS,the City desires to convey and the Developer desires to acquire the Channing
Property,the 272 N. Spring Property and the 279 N. Spring Property in accordance with the terms
and conditions provided herein.
NOW,THEREFORE,for and in consideration of the mutual undertakings as set forth herein,
and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged,the parties hereto agree as follows:
1. Recitals. The foregoing recitals are incorporated into this agreement in their entirety.
2. Development Application. Not later than thirty(30)days after the entry into this
agreement the Developer shall file with the City an application or applications(the"Development
Application")for the approval by the City of a Planned Development Ordinance(s)and such other
approvals as may be required or otherwise sought so as to authorize and facilitate the improvement
of the Channing Property with the Channing Street Place Redevelopment(as hereinafter defined).
All costs and expenses relating to the preparation of the Development Application shall be the
responsibility of and shall be paid for by the Developer. The Development Application to be
submitted by the Developer to the City shall include all materials and documents customarily
required by the City for such development applications and zoning petitions and shall also include
architectural elevations of the buildings to be constructed on the Channing Property showing and
describing the architectural styling and materials of such building, the floor plans for each of the
single-family residences to be constructed on the Channing Property, a description of standard
finishes and amenities along with available upgrades for each of the single-family residences,the
anticipated sale price for the single-family residences, preliminary engineering plans, landscape
plans, lighting plans, estimated development schedules for the project and such other and further
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materials and documentation as may be reasonably required by the City. This agreement and all of
the parties'obligations hereunder are expressly subject to and contingent upon the city council of the
City adopting an ordinance or ordinances which provide for the approval of the proposed rezoning
and Planned Development Ordinance of the Channing Property which authorizes the improvement
of the Charming Property with the Channing Street Place Redevelopment. In the event the city
council does not,in its sole and exclusive discretion,adopt an ordinance to provide for such rezoning
and Planned Development Ordinance authorizing the Channing Street Place Redevelopment on the
Channing Property on or before one hundred eighty days (180) days after the entry into this
agreement,then either party shall have the right,by written notice to the other party,to terminate this
agreement whereupon this agreement shall be cancelled and null and void with no further liability of
either party hereunder. In the event of any conflict between the terms and provisions of the plans
attached to this agreement and the terms and provisions of the Planned Development Ordinance for
the Channing Property as may hereinafter be adopted by the city council,the terms and provisions of
such Planned Development Ordinance shall control.
3. Conveyance of Properties to Developer. In the event the city council adopts a
Planned Development Ordinance providing for the rezoning of the Charming Property so as to allow
for the proposed Charming Street Redevelopment as hereinafter described, the City shall within
forty-five(45)days thereafter convey to the Developer title to the Subject Properties by recordable
special warranty deed, subject only to real estate taxes not then due and payable, for the year of
closing and subsequent years;public utility easements so long as same do not prohibit Developer's
intended use of the Subject Properties as herein described; public rights-of-way; covenants,
conditions, encroachments and restrictions of record as long as same do not prohibit Developer's
intended use of the Subject Properties as hereinafter described;zoning laws,statutes and ordinances,
including,but not limited to,matters relating to the Tax Increment Allocation Redevelopment Act,
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the Elgin Central Area Tax Increment Financing Redevelopment Plan and Project,the Elgin Historic
Preservation Ordinance and City of Elgin ordinances designating the Elgin Historic district and
Spring/Douglas Historic District;easement for driveway purposes and maintenance thereof pursuant
to the instrument dated September 17, 1953,recorded February 11, 1954 as Document No.743964
(affects the 111 N. Charming Property); easement for the Illinois Bell Telephone Company by
instrument recorded May 13,1957 as Document No.834331 and further abrogated by the instrument
recorded May 13, 1957 as Document No. 834332 (affects the 111 N. Channing Property);
covenants,conditions and restrictions on the plat of Roy C. Wauchop's Subdivision relating to the
area,cost and setback and location of building on the lots(affects the 111 N.Charming Property),
City of Elgin Ordinance as to redevelopment plan recorded October 21, 2002, as Document No.
2002K13364(affects the 111 N.Channing Property);covenants,conditions and restrictions,if any,
contained in the plat of subdivision recorded November 27, 1854 in Book 1,Page 2 of plats in Kane
County,Illinois(affects the 279 N. Spring Property); common driveway and well use reserved in
warranty deed recorded April 16, 1890, as Document No. 28914 (affects the 279 N. Spring
Property); Ordinance No. G11-96 by the City of Elgin being an ordinance designating the
Spring/Douglas Historic District,recorded March 21, 1996 as Document No.96K020426(affects the
272 N. Spring Property and the 279 N. Spring Property);notice of ordinance designating property
within a historic district or as a landmark,by the City of Elgin,recorded July 19, 1997 as Document
No. 97K049526 (affects the 272 N. Spring Property and the 279 N. Spring Property); notice of
ordinance designating property within a historic district or as a landmark, by the City of Elgin,
recorded November 22, 1999 as Document No. 1999K112083 (affects the 272 N. Spring Property
and the 279 N. Spring Property);building setback lines,easement for public utilities and rights of
way for utility lines on the plat of Roy C. Wauchop's Subdivision being a resubdivision of part of
Lot A of County Clerk's Subdivision of E.H.Hotchkis Addition(affects 468 Division);and the teens
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and obligations of this Development agreement. The purchase price to be paid by the Developer to
the City for the Subject Properties shall be zero dollars($.0), it be agreed and understood that the
City is conveying the properties to the Developer without a monetary purchase price as a
development incentive to the Developer as partial consideration for Developer's redevelopment of
the properties as provided for in this agreement.
4. Survey. Not later than ten days prior to closing, the City at its own expense, shall
furnish the Developer plats of survey for the properties prepared by a licensed land surveyor dated
not more than sixty(60)days prior to the closing date,made and so certified by the surveyor to the
Developer,or other person designated by Developer,and the title company as having been made in
accordance with the minimum standard detail requirements for ALTA-ASCM Land Title Surveys
and Mapping, 1992, without Table A items. The surveys shall also include a certification by the
surveyor as to the square footage of the properties(excluding any portion thereof lying in a public
right-of-way). Such survey shall further indicate all applicable easements and rights-of-way.
5. Closing. The time of closing for the Subject Properties shall be within forty-five(45)
days after the city council adopts a Planned Development Ordinance providing for the rezoning of
the Channing Property so as to allow for the proposed Channing Street Redevelopment as hereinafter
described(the"Closing"). Unless subsequently mutually agreed otherwise,Closing shall take place
at the office of Chicago Title Insurance Company providing title is shown to be good or is accepted
by Developer.
6. No Brokers or Agents Involved in this Transaction. The City and Developer each
warrant to the other that they have dealt with no brokers or agents in connection with this
transaction. Each party agrees to indemnify,hold harmless and defend the other party from any loss,
cause, damages or expenses (including reasonable attorney's fees) arising out of a breach of the
warranty contained in this section.
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7. Title. Not less than ten(10)days prior to Closing,the City at its own expense,shall
deliver or cause to be delivered to Developer or Developer's agent title commitments for a 1970
ALTA Owner Title Insurance Policy issued by Chicago Title Insurance Company (the "Title
Company")in the minimum amount of insurance covering title to the Subject Properties on or after
the date herein, showing title in the City of Elgin subject only to: (a)title exceptions set forth in
Section 3 above, (b)title exceptions pertaining to liens or encumbrances of a definite or
ascertainable amount which may be removed by the payment of money at the time of closing and
which the City shall so remove at that time,(c)acts of the Developer and all parties through or for
the Developer,(d) zoning laws,statutes and ordinances,including,but not limited to matters relating
to the Tax Increment Act,the Elgin Central Area Tax Increment Redevelopment Plan and Project
and the Elgin Historic Preservation Ordinance, and (e)other matters of title over which the Title
Company is willing to insure without cost to Developer. At Closing,the City shall also furnish to
Developer affidavits of title in customary form covering the date of Closing and showing title in the
City subject only to the permitted exceptions and such other documents as are customary to complete
the Closing of this transaction.
8. Title Clearance. If a title commitment or a plat of survey discloses either
unpermitted exceptions or surveymatters that render the title not in conformance with the provisions
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of this agreement(hereinafter referred to as"Survey Defects")the City shall have thirty (30)days
from the date of delivery thereof to have the exceptions removed from the commitment or to correct
such Survey Defects or to have the title company commit to insure against loss or damage that may
be associated by such exceptions or Survey Defects,and,in such event,the time of Closing shall be
thirty (30) days after the deliver of the commitment or the time expressly specified in Section 5
hereof, whichever is later. If the City fails to have the exceptions removed or correct any Survey
Defects,or in the alternative,to obtain the commitment for title insurance specified above as to such
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exceptions or survey defects within the specified time,Developer may terminate this agreement or
may elect, upon notice to the City within ten (10)days after the expiration of the thirty (30)day
period, to take title as it then is. If Developer does not so elect, this agreement shall be deemed
cancelled and null and void with no further liability of either party hereunder.
9. Prorations. General taxes shall be adjusted ratably as of the time of Closing. If the
amount of current general taxes is not then as ascertainable,the adjustment thereof shall be made on
the basis of the amount of the most recent ascertainable taxes. The City shall pay the amount of any
stamp tax imposed by state or county law or local ordinance on the transfer of title, if any, and
furnish a completed real estate transfer declaration signed by the City or the City's agent in the form
required pursuant to the Real Estate Transfer Tax Act of the State of Illinois and shall furnish any
declaration signed by the City or the City's agent or meet other requirements as established by any
county or local ordinance with regard to a transfer or transaction tax.
10. Redevelopment for Single Family Residential Redevelopments.
A. It is agreed and understood that the Channing Property is being conveyed by the City
to the Developer for the sole purpose of Developer redeveloping the Channing Property and
constructing thereon thirteen(13)single-family detached residential homes,garages and the related
improvements in substantial conformance with the plans and specifications set forth in the listing
attached hereto as Exhibit E (such plans and specifications listed in Exhibit E are hereby
incorporated into this agreement in their entirety by reference and are hereinafter collectively
referred to as the "Channing Place Development Plans"), the Building Plans and Elevations,
Sections,and Details for Concepts 1-3,and Garage Plans,Elevations and Sections,prepared by BSB
Design, dated May 29, 2007, and last revised August 17, 2007, attached hereto as Exhibit F
(hereinafter referred to as the "Approved Building Plans"), and in conformance with the Planned
Development Ordinance for the Channing Property as hereinafter may be adopted by the city council
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of the City of Elgin(such Planned Development Ordinance as may hereinafter be adopted by the city
council for the Channing Property is hereinafter referred to as the"Subject Planned Development
Ordinance" and such redevelopment of the Channing Property in substantial conformance with
Exhibits E and F and the Subject Planned Development Ordinance is hereinafter referred to as the
"Channing Place Redevelopment"). In the event of any conflict between the terms and provisions of
Exhibits E and F and the terms and provisions of the Subject Planned Development Ordinance the
terms and provisions of the Subject Planned Development Ordinance shall control. It is agreed and
understood that the thirteen (13) single-family detached residential homes and garages to be
constructed on the Channing Property as part of the Channing Place Redevelopment shall be in
conformance with the Approved Building Plans. The redevelopment of the Channing Property shall
conform in all respects with the Subject Planned Development Ordinance,final engineering plans as
approved by the City Engineer,the terms of this Development Agreement,or as directed by the City
as is necessary to comply with ordinances,building codes or other requirements of law. Developer
shall also cause all work performed in connection with the redevelopment of the Channing Property
to be performed in a workmanlike manner. Except as otherwise provided in this agreement,all costs
and expenses relating to the redevelopment of the Charming Property including without limitation,
the construction of the Channing Place Redevelopment on the Charming Property,including,but not
limited to, the single-family residences, the public improvements, and all appurtenances relating
thereto, shall be the responsibility of and shall be paid for by the Developer.
B. Developer shall provide for at its cost for the demolition of the existing structures on
the 468 Division Property within ninety (90) days following the Closing. Developer shall
commence construction of the Channing PIace Redevelopment on the Channing Property within
ninety(90)days following the Closing. Developer shall be deemed to have commenced construction
of the Charming Place Redevelopment on the Channing Property upon the commencement of the
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mass earth work and site remediation work on the Charming Property. The initial phase of
construction for the Charming Place Redevelopment shall include, among other matters, the
completion of all public improvements associated with the Charming Place Redevelopment of the
Channing Property. Upon Developer commencing construction of the Charming Place
Redevelopment on the Channing Property Developer shall continue with such construction in as
expeditious a manner as is reasonably practicable. Developer shall complete the mass earth work
and side remediation work on the Channing Property on or before May 1, 2008. Developer shall
complete the construction of the public improvements on the Channing Property on or before August
1, 2008. Developer shall commence construction of the three model homes on the Charming
Property on or before May 1,2008 and shall complete the construction of such three model homes
on the Charming Property on or before November 1,2008. The three model homes to be constructed
by the Developer on the Channing Property shall be located on the three lots on Division Street.
Developer shall commencing on or before May 1, 2008, and continuing thereafter use all
commercially reasonable efforts to market for sale each of the thirteen(13)single-family residences
to be constructed on the Charming Property. In addition to the three (3)model homes,Developer
shall commence construction of the remaining single family residences to be constructed on the
Charming Property within one hundred and twenty(120)days of entering into a contract for the sale
of such residence with a purchaser and shall complete the construction of such single family
residence as soon as is reasonably practicable but no later than twelve(12)months of the date of the
sale contract for same. In any event, Developer shall complete the entire Charming Place
Redevelopment on the Charming Property no later than forty-eight(48)months following the closing
(hereinafter referred to as the"Completion Date"),provided,however,that such Completion Date
for the redevelopment of the Charming Property shall be extended by one day for each day of which
construction is delayed or stopped due to accident,strikes,shortage of materials,extreme weather,
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acts of God or other causes not within Developer's reasonable control. In the event Developer
requires any further extension of the Completion Date for the redevelopment of the Channing
Property any such requests shall be submitted to the City in writing specifying the reasons for such
an extension and the amount of additional time being requested. Any agreement by the City to
further extend the Completion Date for the redevelopment of the Channing Property shall be at the
sole discretion of the City Council of the City. The Channing Place Redevelopment of the Channing
Property shall be deemed completed when Developer has completed its construction of all buildings
and site improvements for the Channing Street Redevelopment and has obtained final occupancy
permits for all thirteen(13) single-family residences to be constructed on the Channing Property.
The City shall not withhold a final occupancy permit for any building within the Channing Place
Redevelopment that otherwise complies with this agreement and all City codes,ordinances and other
requirements of law as to such residences.
C. It is agreed and understood that the 272 N. Spring Property and the 279 N. Spring
Property are being conveyed by the City to the Developer for the sole purpose of Developer
redeveloping on each such property a new single-family residence. The single-family residence to
be constructed by the Developer onto the 272 N. Spring Property shall consist of and be in
conformance with plan concept number one from the Approved Building Plans.The single-family
residence to be constructed by the Developer onto the 279 N.Spring Property shall consist of and be
in conformance with plan concept number one from the Approved Building Plans (such
redevelopment of the 272 N.Spring Property and the 279 N. Spring Property is hereinafter referred
to as the"Redevelopment of the Spring Street Properties"). The Redevelopment of the Spring Street
Properties shall conform in all respects with this agreement and with all applicable ordinances,
building codes or other requirements of law. Developer shall also cause all work performed in
connection with the Redevelopment of the Street Properties to be performed in a workmanlike
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manner. Except as otherwise specifically provided in this agreement,all costs and expenses relating
to the Redevelopment of the Spring Street Properties,including without limitation,the construction
of the single-family residences thereon and all appurtenances relatingthereto, shall be the
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responsibility of and shall bepaid for bythe Developer.
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D. The City shall provide at its cost for the demolition of the existing structures on 272
N. Spring Street prior to the Closing. Developer shall commencing within ninety (90) days
following the Closing and continuing thereafter shall use all commercially reasonable efforts to
market for sale the single family residences to be constructed on the Spring Street Properties.
Developer shall commence construction of a single family residence to be constructed on the Spring
Street Properties within one hundred twenty (120)days of entering into a contract for the sale of
such residence with the Purchaser and shall complete the construction of such single family
residence as soon as is reasonably practicable but no later than twelve(12)months of the date of the
sale contract for same. In any event, Developer shall complete the Redevelopment of the Spring
Street Properties no later than forty-eight(48)months following the closing(hereinafter referred to
as the"Completion Date for the Spring Street Properties"),provided,however,that such Completion
Date for the Redevelopment of the Spring Street Properties shall be extended by one(1)day for each
day of which construction is delayed or stopped due to accident, strikes, shortages of materials,
extreme weather, acts of God, or other causes not within Developer's reasonable control. In the
event Developer requires any further extension of the Completion Date for the Redevelopment of the
Spring Street Properties any such request shall be submitted to the City in writing specifying the
reasons for such an extension and the amount of additional time being requested. Any agreement by
the City to further extend the Completion Date for the Redevelopment of the Spring Street Properties
shall be at the sole discretion of the city council of the City. The Redevelopment of the Spring Street
Properties shall be deemed completed when Developer has completed its construction of both single-
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family residences and site improvements for the Redevelopment of the Spring Street Properties and
has obtained final occupancy permits for both single-family residences to be constructed on the
272 N. Spring Property and the 279 N. Spring Property. The City shall not withhold the final
occupancy permit for either such residence on the 272 N. Spring Property or the 279 N. Spring
Property that otherwise complies with this agreement and all applicable city codes,ordinances and
other requirements of law as to such residences.
E. The deeds of conveyance conveying the Subject Properties to Developer shall contain
a provision making such conveyances subject to the terms and obligations of this Development
Agreement. In the event Developer shall have failed to commence construction of the Charming
Place Redevelopment on the Charming Property or the Redevelopment on the Spring Street
Properties on the dates specified in this agreement the City may file suit within the Circuit Court for
the Sixteenth Judicial Circuit, Kane County, Illinois for a determination that Developer has so
breached this agreement and may then pursue any and all available remedies at law, equity or
otherwise including but not limited to providing for a judgment and order requiring the Developer to
repay to the City the monetary development assistance provided for in paragraph 12A hereof and
providing for a judgment and order terminating the Developer's rights in and to the Subject
Properties and require the conveyance back to the City of Developer's rights,title and/or interests in
or to the Subject Properties free and clear of all rights of the Developer and free and clear of any
mortgages, liens or other indebtedness. In the event the Developer fails to complete the Charming
Place Redevelopment on the Channing Property and/or the Redevelopment of the Spring Street
Properties by the Completion Dates,as such dates may be extended pursuant to this agreement,or
Developer is otherwise in default of a material term or condition of this agreement,the City may file
suit within the Circuit Court for the Sixteenth Judicial Circuit, Kane County, Illinois, for a
determination that Developer has so breached this agreement and therein may pursue any legal
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remedies at law or equity against the Developer but not including but not limited to a judgment and
order requiring the Developer to repay to the City the monetary development assistance provided for
in paragraph I2A hereof and any remedy of conveyance or reversion of all or part of the Subject
Properties to the City. In any action brought by the City as described above,the Developer shall not
be required to return any monies expended for public improvements and/or private improvements on
the Subject Properties which have been completed by the Developer pursuant to this Agreement.
11. Declaration of Easements,Restrictions,Covenants and Bi-laws. Within ninety
(90)days of the Closing the Developer shall submit to the City for the City's review and approval a
draft declaration for a homeowners association which provides for easements, restrictions and
covenants and by-laws for the Charming Place Redevelopment on the Channing Property
(hereinafter referred to as the "Declaration"). The Declaration shall comply with all applicable
provisions of law and shall include, among other matters, provisions relating to easements, the
maintenance of common elements,limited common elements and common areas and limitations or
requirements relating to the type and number of buildings, building elevations, building design,
building materials, building additions or alterations, the number of residences and the use of the
Charming Property. The Declaration shall also include,among other matters,provisions specifying
for the association's common ownership of the alleys within the Channing Place Redevelopment and
for the association's maintenance thereof,and provisions relating to the association's ownership and
maintenance of the park site within the Channing Place Redevelopment and provisions allowing for
public use of such park site . The Declaration shall also comply with the terms and provisions of
Exhibits E and F hereto and the Subject Planned Development Ordinance. Upon approval of the
Declaration by the Corporation Counsel of the City the Developer shall record such Declaration
simultaneously with the recording of a final plat of subdivision of the Charming Property and prior to
the closing of the sale of any of the residential homes on the Charming Property. The Declaration
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may be modified or amended by the Developer or Developer's successors in interest, but the
Declaration shall provide that as to amendments or revisions effecting the types of buildings,
building elevations,building design,building materials,building additions or alterations,the number
of residences or the use of the Subject Property,the park site or the use of the park site,the alleys or
the maintenance thereof,or any other rights or obligations with respect to the City,such amendments
or revisions shall require the prior approval of the City Council of the City of Elgin.
12. Development Assistance.
A. In addition to the City conveying the Subject Properties to the Developer without a
monetary purchase price as a development incentive to the Developer, and in consideration of
Developer completing the redevelopment of the Subject Properties with the Charming Place
Redevelopment on the Charming Property and the Redevelopment of the Spring Street Properties on
or before the Completion Dates as set forth in this agreement, the City agrees to provide the
development assistance to Developer as set forth in this Paragraph 12. The City agrees to provide to
the Developer monetary development assistance for the Channing Place Redevelopment on the
Charming Property and the Redevelopment of the Spring Street Properties not to exceed the total
amount of One Million Fifty-Nine Thousand Nine Hundred Dollars($1,059,900) The City shall pay
such total amount of$1,059,900 of monetary development assistance to Developer as follows:
1. $9,900 as partial reimbursement to the nt a Developer toward the costs of further
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revisions to the Charming Place Development Plans payable to the Developer within
thirty(30)days of the presentation by the Developer to the City of an invoice(s)to
the Developer for such costs.
2. $700,000 as partial reimbursement to the Developer toward the costs of mass
grading, site remediation work, public utilities, public streets, alleys and public
sidewalks to be constructed as part of the Channing Place Redevelopment on the
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Channing Property (hereinafter referred to collectively for convenience as the
"Subdivision Improvements"). The Subdivision Improvements shall be constructed
by the Developer in conformance with the final engineering plans therefore as
approved by the City Engineer and in conformance with all other applicable codes,
ordinances and other requirements of law. Upon the commencement of the
Subdivision Improvements by Developer, Developer shall submit to the City, not
more frequently than each calendar month, a written request for reimbursement to
Developer of Developer's actual costs of designing and constructing the Subdivision
Improvements which have been completed to date,according to the final engineering
plans approved by the City Engineer (hereinafter referred to as "Request for
Payment"). Within fourteen(14)days after the receipt of each Request for Payment,
the City shall inspect those portions of the Subdivision Improvements for which
payment is requested and either affirm that the work for which payment is requested
is completed, or notify Developer in writing that the work for which payment is
requested is not completed. If the City confirms that the work has been completed,
the City's General Services Manager will approve the payment to Developer
(hereinafter referred to as a "Disbursement Request") and direct the City Fiscal
Services Director and the Assistant City Manager to make such payment as provided
for in the Disbursement Request, and the City shall make such payment within
fourteen(14)business days after the Disbursement Request. If the City reasonably
determines that any portion of the work for which payment is requested is not
complete in accordance with the final engineering plans approved by the City
Engineer, the notification to Developer of same shall state, in writing, the reasons
why the work is not in compliance with the final engineering plans approved by the
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City Engineer and why the city is not approving a portion of all of the request for
payment. Upon completing the work stated in the City's notification to Developer,
Developer may submit a request for payment to the City,even if such resubmission
is within the same month as the original submission,and the process described shall
be repeated.
3. $350,000 payable to Developer in fifteen(15)equal installments of Twenty-
Three Thousand Three Hundred Thirty-Three Dollars and 33 cents($23,333.33)by
paying to the Developer installments of$23,333.33 within thirty (30) days of the
issuance of a building permit for each of the thirteen (13) residential homes to be
constructed on the Charming Property and each of the residential homes to be
constructed on the two Spring Street Properties. Developer shall commence
construction of a residential home within sixty(60)days following the issuance of a
building permit therefore and shall complete the construction and obtain a final
occupancy therefore within eight(8)months following the issuance of the building
permit therefore.
B. The parties understand and agree that the development assistance being provided by
the City to the Developer as set forth in this paragraph 12 is expressly contingent upon Developer's
development of the Channing Place Redevelopment on the Channing Property and the Spring Street
Redevelopment on the Spring Street Properties as provided in this agreement. In the event the
Developer fails to commence and complete the Channing Place Redevelopment on the Channing
Property and the Redevelopment on the Spring Street Properties as required in this agreement the
parties understand and agree that the City will not be providing any development assistance to the
Developer for the Channing Place Redevelopment on the Charming Property or the Redevelopment
of the Spring Street Properties pursuant to this agreement or otherwise, and that Developer shall
18
upon demand from the City reimburse the City in full for any funds distributed to the Developer for
the monetary development assistance provided for in the preceding paragraph 12A hereof. It is
further expressly agreed and understood by the parties hereto that the City's sole and only monetary
and/or financial assistance or contribution for the Charming Place Redevelopment on the Channing
Property and/or the Redevelopment of the Spring Street Properties shall be the conveyance of title of
the Subject Properties to the Developer as provided in this agreement and the monetary assistance
described in this Paragraph 12 and that the City shall have no other responsibility for any other costs
or expenses relating to the Channing Place Redevelopment on the Charming Property and/or the
Redevelopment of the Spring Street Properties. It is further expressly agreed and understood by the
parties hereto that such monetary development assistance shall be utilized by the Developer solely
and only for costs and expenses relating to the Charming Place Redevelopment on the Charming
Property or the Redevelopment of the Spring Street Properties.
C. The parties understand and agree that the amount of development assistance being
provided by the City to the Developer as set forth in this Paragraph 12 was based in part upon
Developer's reliance upon the following assurances and representations by the City:
1. That the redevelopment of the Subject Properties is exempt from the
requirements of the City of Elgin Stormwater Ordinance pursuant to
Section 200(b)(2) of the Kane County Stormwater Ordinance adopted therein and
therefore no onsite or offsite storm water detention or retention facilities will be
required for either the Charming Place Redevelopment or for the Redevelopment of
the Spring Street Properties.
2. That the Charming Place Redevelopment on the Channing Property will
consist of not less than thirteen(13) single-family home lots.
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3. That the approved final engineering plans for the Charming Place
Redevelopment on the Charming Property including,but not limited to,the City of
Elgin stormwater permit(s)for the Channing Place Redevelopment on the Charming
Property,shall be in substantial conformance with the Channing Place Development
Plans identified in Exhibit E attached hereto and will depict all of the civil
engineering work to be undertaken by the Developer without exception or
reservation.
4. That the Approved Building Plans attached hereto as Exhibit F shall be
incorporated into the Planned Development Ordinance for the Channing Property
depict the final exterior elevations for each of the homes and garages to be built as
provided for herein, and will not be altered or modified by the City without the
Developer's prior written consent.
Developer shall have right to specifically enforce these assurances and representations by the
City as part of the Charming Place Redevelopment on the Channing Property and/or the
Redevelopment on the Spring Street Properties.
13. Redevelopment to Remain on Subject Properties. The Developer agrees that
except as otherwise agreed to by the City the Charming Place Redevelopment on the Channing
Property and the Redevelopment of the Spring Street Properties shall be maintained and remain on
the Subject Properties for a period of not less than twenty-five(25)years following the date of this
agreement. Upon Developer's completion of the Redevelopment on the Subject Properties and the
conveyance of the Subject Properties to the purchasers thereof,the provisions of this paragraph shall
be binding upon such purchasers and their successors,assigns and grantees.
14. Assessment of Subject Properties. The City and the Developer agree that the
Channing Place Redevelopment on the Channing Property and the Redevelopment of the Spring
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Street Properties should be assessed for general real estate taxes in the manner provided by Illinois
Compiled Statutes as they may be amended from time to time. This provision shell not be deemed to
prevent Developer or its successors or permitted assigns from appealing or challenging assessments
against the Subject Properties which Developer or its successors or permitted assigns consider to be
contrary to law. The Developer agrees that for a period of twenty-five(25)years following the date
of this agreement that the Developer and no person affiliated with the Developer or any successor or
permitted assign of the Developer shall do any of the following:
A. Request a full or partial exemption for general real estate taxes for any portion of the
Subject Properties; or
B. Request an assessment for any portion of the Subject Properties at a value not
otherwise permitted by law.
Upon Developer's completion of the Redevelopment on the Subject Properties and the
conveyance of the Subject Properties to the purchasers thereof,the provisions of this paragraph shall
be binding upon such purchasers and their successors, assigns and grantees.
15. Compliance with Laws. Notwithstanding any other provisions of this agreement it
is expressly agreed and understood by Developer and the City that in connection with the
performance of this agreement and the redevelopment of the Subject Properties with the residential
redevelopments,including without limitation,Developer's construction of residences on the Subject
Properties,that Developer shall comply with all applicable federal,state,city and other requirements
of law. Developer shall also at its expense secure all permits and licenses,pay all charges and fees
and give all notices necessary and incident to the due and lawful prosecution of the work necessary
to provide for the redevelopment of the Subject Properties as described in this agreement. Without
limiting the foregoing,and notwithstanding anything to the contrary in this agreement,Developer
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and its contractors and sub-contractors shall comply with the Prevailing Wage Act in all respects of
the redevelopment of the Subject Properties.
16. Survival. All representations,warranties, indemnities and covenants made by the
parties under this agreement,the terms of this agreement and the obligations of the parties under this
agreement shall be deemed remade as of the closing and shall survive the closing,and the remedies
for breach thereof shall survive the closing and shall not be merged into the closing documents.
17. Default. The City and Developer agree that, in the event of a default by the other
party,the other party shall,prior to taking any such actions as may be available to it,provide written
notice to the defaulting party stating that they are giving the defaulting party thirty(30)days within
which to cure such default. If the default shall not be cured within the thirty (30) days period
aforesaid,then the party giving such notice shall be permitted to avail itself of remedies to which it
may be entitled under this agreement.
18. Remedies. If either party fails or refuses to carry out any of the material covenants or
obligations hereunder,the other party shall be entitled to pursue any and all available remedies as
specified herein or otherwise available at law,equity or otherwise. Notwithstanding the foregoing or
anything else to the contrary in this agreement,with the sole exception of an action to recover the
monies the City has agreed to pay pursuant to the preceding Paragraph 12 hereof,no action shall be
commenced by the Developer against the City for monetary damages. Venue for the resolution of
any disputes or the enforcement of any rights pursuant to this agreement shall be in the Circuit Court
of Kane County,Illinois. In the event any action is brought by the City against the Developer or its
permitted assigns with respect to this agreement and the City is the prevailing party in such action,
the City shall also be entitled to recover from the Developer reasonable interest and reasonable
attorney's fees.
19. Time. Time is of the essence of this agreement.
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20. Notices. All notices shall be required to be in writing and shall be served on the
parties at the addresses following their signatures. The mailing of a notice by registered or certified
mail,return receipt requested, or personal delivery by courier service shall be sufficient service.
21. Interpretation. This agreement shall be construed,and the rights and obligations of
the City and the Developer hereunder shall be determined in accordance with the laws of the State of
Illinois without reference to its conflict of laws rules.
22. Relationship of the Parties. This agreement shall not be deemed or construed to
create an employment,joint venture, partnership or other agency relationship between the parties
hereto.
23. Failure to Enforce Provisions. The failure by a party to enforce any provision of
this agreement against the other party shall not be deemed a waiver of the right to do so thereafter.
24. Amendments. This agreement may be modified or amended only in writing signed
by both parties hereto, or their permitted successors or assigns as the case may be.
25. Entire Agreement. This agreement contains the entire agreement and
understandings of the parties hereto with respect to the subject matter as set forth herein, all prior
agreements and understandings having been merged herein and extinguished hereby.
26. Joint and Collective Work Product. This agreement is and shall be deemed and
construed to be a joint and collective work product of the City and the Developer,and,as such,this
agreement shall not be construed against the other party,as the otherwise purported drafter of same,
by any court of competent jurisdiction in order to resolve any inconsistency,ambiguity,vagueness or
conflict, if any, in the terms and provisions contained herein.
27. Assignment. This agreement shall be binding on the parties hereto and their
respective successors and permitted assigns. This agreement and the obligations herein may not be
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assigned without the express written consent of each of the parties hereto, which consent may be
withheld at the sole discretion of either of the parties hereto.
28. No Conflicting Interests. Developer hereby represents and warrants that the
Developer,nor any associated person or organization,presently owns or has any beneficial interest
in the Subject Properties being conveyed to Developer or entitled to receive any income from the
Subject Properties. In compliance with 50 ILCS 105/3.1, Developer shall provide the City with a
written statement subscribed by an owner,authorized trustee,corporate official,or managing agent,
under oath, disclosing the identity of every person having an interest, real or personal, in the
development group and every shareholder entitled to receive more than seven and one/half(7%%)
percent of the total distributable income of any corporation which will have an interest, real or
personal, in such property upon the acquisition of any interest by the Developer in the Subject
Properties.
29. Indemnification. To the fullest extent permitted by law, Developer agrees to and
shall indemnify, defend and hold harmless, the City, its officials, officers, employees, attorneys,
agents, boards and commissions from and against any and all claims, suits, judgments, costs,
attorney's fees, damages or other relief, including but not limited to workmens' compensation
claims, in any way resulting from or arising out of or alleged to be resulting from or arising out of
negligent actions or omissions of the Developer in connection herewith, including negligence or
omissions of employees,agents or subcontractors of the Developer arising out of the performance of
this agreement, or in any way resulting from or arising out of or alleged to be resulting from or
arising out of any violation and/or breach of the terms or provisions of this agreement by the
Developer, including any violation and/or breach by employees, agents or subcontractors of the
Developer. In the event of any action against the City, its officials, officers, employees, agents,
attorneys, boards or commissions covered by the foregoing duty to indemnify, defend and hold
24
harmless such action shall be defended by legal counsel of the City's choosing the costs of which
shall be paid by the Developer. The provisions of this paragraph shall survive any termination
and/or expiration of this agreement.
30. Further Indemnification. To the fullest extent permitted by law,Developer agrees
to and shall indemnify, defend and hold harmless the City, its officials, officers, employees,
attorneys, agents,boards and commissions, from and against any and all third party claims, suits,
judgments,costs,attorneys' fees,expert witness fees and expenses, damages or other relief, in any
resulting from or arising out of or alleged to be resulting from or arising out of the existence of this
agreement,the provisions of this agreement,the performance of this agreement,the rezoning of the
Subject Property,the development approvals provided for in this agreement and/or any other actions
to the parties hereto provided for or arising from this agreement. In the event of any action against
the City,its officials,officers,employees,agents,attorneys,boards or commissions,covered by the
foregoing duty to indemnify,and defend and hold harmless, such action shall be defended by legal
counsel of the City's choosing and the costs of which will be paid for by the Developer.
Additionally, in the event of such third party action the Developer to the extent permitted by law
shall upon the request of the City attempt to intervene in such proceedings and join the City in the
defense thereof.
31. As Is: Covenant Not To Sue. Except as otherwise expressly provided herein:
A. The City agrees and shall deliver to the Developer at Closing possession of the
Subject Properties including but not limited to all improvements thereon and appurtenances thereto
in"AS IS"condition.
B. The parties hereto further understand and agree that the City shall have no
responsibility for any response or corrective actions or remediation of any Environmental Condition
(as hereinafter defined)at,on,under or about the Subject Properties and that the Developer hereby
25
waives and releases any claim for contribution against, and covenants not to sue the City, or the
City's officials, officers, employees, agents, attorneys, personal representatives, successors or
assigns,whether asserted directly or indirectly,or whether in the nature of an action for contribution,
third party proceeding or other action or proceeding whatsoever,for all damages including,without
limitation, punitive damages, liabilities, costs, losses, diminutions in value, fines, penalties,
demands,claims,cost recovery actions,lawsuits,administrative proceedings,orders,response action
costs, compliance cost,investigation expenses, consultants fees, attorneys fees, paralegal fees and
litigation expenses(collectively"Claims"),arising out of or in connection with any Environmental
Condition (as hereinafter defined) on the Subject Properties or its migration to any other site or
location or arising out of or in connection with any Environmental Law(as hereinafter defined).
C. The Developer hereby acknowledges and agrees that it is purchasing the Subject
Properties in its"as is"and"where is"condition and that, as of the Closing, the Developer will be
purchasing the Subject Properties with no direct recourse or direct rights of action against the City or
the City's officials, officers, employees, agents, attorneys, personal representatives, successors or
assigns.
D. The Developer for itself and its successors, assigns and grantees, hereby covenants
and agrees that in consideration of this contract,neither the Developer nor its successors or assigns
shall directly or indirectly sue the City or the City's officials,officers,employees,agents,attorneys,
personal representatives,successors or assigns for any Claims with respect to, or arising out of any
Environmental Condition(as hereinafter defined)or any other condition of,or situation existing with
respect to the Subject Properties or any Environmental Law(as hereinafter defined). The covenant
and agreement of the Developer as set forth in the preceding sentence shall hereinafter be called the
"Covenant Not to Sue". The parties hereto understand and agree that The Developer's Covenant Not
to Sue the City as stated herein does not apply to any action taken by the Developer to enforce any
26
•
contractual obligations of the City as may be specifically set forth in this contract and does not
constitute an indemnity agreement between the parties and that the City retains any liability it may
have for claims brought by third parties including but not limited to any governmental agencies,
provided,however,that the Developer agrees not to assign any claims against the City or the City's
officials,officers,employees,agents,attorneys,personal representatives,successors and assigns to
any third parties.
E. "Environmental Condition"shall mean any condition or situations existing on,under,
at or about the Subject Properties,the groundwater, subsurface water, and/or the underground soil
and geologic conditions thereunder, as of the date of the execution of this contract which
(i) constitutes a violation of any State of Illinois or federal environmental law, regulation or
ordinance and/or(ii) which does or might form the basis of any public or private claim or cause of
action for the cleanup or remediation as a result of the release,threatened release,migration or the
existence of any contaminants, pollutants, petroleum and petroleum byproducts, crude oil or any
fraction thereof,chemicals,wastes or substance(including,without limitation,regulated substances
and hazardous wastes and hazardous substances as such terms are commonly used and understood
within the framework of existing federal and Illinois environmental laws and regulations) and/or
(iii) are a release or a threat of release of hazardous substances or hazardous waste, and/or(iv) are
described or included in any report provided by the City to the Developer or in any report generated
by the Developer's Environmental Investigations of the Subject Properties.
E. "Subject Properties"shall mean the properties described on Exhibits A,B, C and D
attached hereto,any and all improvements thereon,and the soils,subsoils,geologic formations and
groundwater on and under such properties.
G. "Environmental Law" shall mean any federal or state law, statute, regulation,rule,
order, decree, judgment or direction concerning environmental protection or health and safety
27
including, without limitation, common law, the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended, the Resource, Conservation and Recovery
Act, as amended, the Toxic Substances Control Act, as amended, and the Illinois Environmental
Protection Act, as amended.
H. "The City" shall mean the party designated herein and such party's heirs, personal
representatives, successors, assigns and grantees, and if such party is an entity, then additionally
such party's officers,employees,agents,partners,shareholders,directors,members and/or managers.
I. The provisions of this Paragraph 31 shall be deemed remade as of the Closing and
shall survive the Closing and shall not be merged into the closing documents.
32. Reports Regarding Redevelopment of Subject Properties. Developer agrees to
and shall provide to the City written reports on the status of the redevelopment of the Subject
Properties. Such written reports shall be provided to the City quarterly following the Closing or
upon request of the City. Such written reports shall contain a status report on construction activities,
marketing efforts and sales activities and such other information as may be requested by the City.
33. Dedication and Acceptance of Public Improvements. Developer shall dedicate to
the Cityallpublic improvements to be constructed as part of the Channing Place Redevelopment
p
including all public rights of way and improvements located therein. Upon completion of the public
improvements by the Developer, and review and recommendation by the City Engineer, the City
shall accept all public rights of way and improvements located thereon, sanitary sewers, storm
drainage sewers and water mains lying within public rights of way or public easements on the
Charming Property. Any public improvements located in private rights of way shall be installed in
easements dedicated for and acceptable to the City. The sewer and water service lines(from the
buffalo box to the residential dwelling) shall not be owned or maintained by the City. Developer
shall replace or repair damage to public improvements installed within,under or upon the Channing
28
Property resulting from construction activities by the Developer and its employees, agents,
contractors and subcontractors prior to final acceptance by the City,but shall not be deemed hereby
to have released any such other party from liability or obligations in this regard. Acceptance of
public improvements by the City shall be consistent with applicable City ordinances.
34. Anti-monotony of Single Family Residences to be Constructed on the Channing
Property. The thirteen (13) single-family residences to be constructed for the Channing Place
Redevelopment are to consist of the three plan concepts ("Approved Concepts"), each with three
different elevations("Approved Elevations"),for a total of nine different building plans as set forth
in the Building Plans and Elevations, Sections, and Details for Concepts 1-3, and Garage Plans,
Elevations and Sections, prepared by BSB Design, dated May 29, 2007, and last revised on
August 17,2007,attached hereto as Exhibit F, and as further revised as agreed to by the parties as
part of the Planned Development Ordinance approval for the Channing Property(such nine different
plan concepts and elevations are hereinafter referred to as the"Approved Building Concepts and
Elevations"and such plans prepared by Aspen Homes are hereinafter referred to as the"Approved
Building Plans"). In order to insure a diverse style of housing to design for the Channing Place
Redevelopment the following anti-monotony provisions are hereby agreed to between the City and
the Developer:
A. At least six(6)of the Approved Building Concepts and Elevations provided
for in the Approved Building Plans shall be constructed within the Channing Place Redevelopment.
B. All three of the Approved Concepts from the Approved Building Plans shall
be utilized on the three model homes to be constructed on the three lots on Division Street.
C. At least two(2)of the Approved Concepts from the Approved Building Plans
shall be utilized on the lots fronting Channing Street.
29
D. No two homes of the same concept and elevation of the Approved Building
Plans shall be constructed on lots next to each other or on lots directly across the street from one
another. For purposes of clarification and example, Plan Concept 1-Elevation A cannot be
constructed on lots next to each other or directly across the street from each other.
35. Legality of the Agreement. Developer on behalf of itself and its respective
successors, assigns and grantees of the Subject Properties hereby acknowledges the propriety,
necessity and legality of all of the terms and provisions of this agreement,including,but not limited
to, the Subject Planned Development Ordinance which mayhereinafter be adopted bythe city
P P
council for the Channing Property and any fees and/or contributions which may be charged by the
City in connection with the redevelopment of the Subject Properties,and does hereby further agree
and does waive any and all rights to any and all legal or other challenges or defenses to any of the
terms and provisions of this agreement and hereby agrees and covenants on behalf of itself and its
successors,assigns and grantees of the Subject Properties,not to sue the City or maintain any legal
action or other defenses against the City with respect to any challenges of the terms and provisions
of this agreement.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties hereto have entered into and executed this
agreement on the date and year first written above.
CITY OF ELGIN, a municipal CHANNING SQUARE, L.L .,
corporation an Illinoi mited liabili mpan
By / _ �. By(
ayor Its
Attest: Attest:
City Clerk
City of Elgin CHANNING SQUARE, L.L.C.
c/o City Manager c/o Bruce Hawkins, President
150 Dexter Court Aspen Homebuilders, Inc.
Elgin, IL 60120-5555 1481 Merchant Drive
Algonquin, IL 60102
With a Copy of Any Notice to: With a Copy of any Notice to:
William A. Cogley Jerome W. Pinderski, Jr.
Corporation Counsel Pinderski & Pinderski, Ltd.
City of Elgin 115 West Colfax Street
150 Dexter Court Palatine, IL 60067-5086
Elgin, IL 60120-5555
F:\Legal Dept\Agreement\Development Agr-Channing Y-clean 10-18-07,doc
31
EXHIBIT A
Legal Description of 111 N. Charming Street Property
Lots 1, 2, 3,4, 5, 6, 7, 8, 9, 10 and 11 and Lot 12 (except the East 10 feet)and vacated Wauchope
Court of Roy C. Wauchope's Subdivision being a subdivision of part of the County Clerk's
Subdivision of E.H. Hotchkiss Addition to the City of Elgin, in the City of Elgin, Kane County,
Illinois.
32
EXHIBIT B
Legal Description of 468 Division Street Property
The East 10 feet of Lot 12 and all of Lot 13 of Roy C. Wauchope's Subdivision, being a part of
Lot A of County Clerk's Subdivision of E.H.Hotchkiss Addition in Elgin Township,Kane County,
Illinois.
33
9y i
EXHIBIT C
Legal Description of 272 N. Spring Street Property
That part of Lots 5 and 6 of Block 1 of P.J. Kimball Jr.'s Third Addition to Elgin, described as
follows: Commencing at the Southeast corner of said Lot 6;thence West on the line of Lots 6 and 5
aforesaid,6 rods to the West line of the East %Z of said Lot 5; thence North on said line 3 '/2 rods;
thence East 6 rods to the East line of said Lot 6 and the West line of Spring Street;thence South 3 Y2
rods to the point of beginning, in the City of Elgin,Kane County,Illinois.
34
'i
EXHIBIT D
Legal Description of 279 N. Spring Street Property
Lot 3 (except the South 33 feet)in Block 2 of P.J.Kimball's Jr. Third Addition to Elgin, in the
City of Elgin,Kane County,Illinois.
35
•
EXHIBIT E
Listing of Charming Place Development Plans:
1. Nat of Subdivision prepared by Land Surveying Services, Inc., dated
October 15,2007.
2. Dimensioned Site Plan prepared by BSB Design,dated August 8,2007, and
last revised on October 11, 2007.
3. Site Landscape Plans, Sheets L1.1 and L1.2,prepared by BSB Design,
dated August 8, 2007,and last revised on October 11, 2007.
4. Preliminary Engineering Drawings prepared by Seton Engineering titled
"Proposed Improvements for Channing Square,Elgin, Illinois," Sheets C.1-
C.12,dated June 10, 2007,and last revised on October 10,2007.
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EXHIBIT F
Building Plans and Elevations, Sections, and Details for Concepts 1-3, and Garage
Plans, Elevations and Sections,prepared by BSB Design, dated May 29, 2007,and
last revised on August 17,2007.
37