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AMENDMENT TO THE INTERGOVERNMENTAL AGREEMENT
BY AND BETWEEN THE BOARD OF EDUCATION OF
ELGIN SCHOOL DISTRICT U-46 AND
THE CITY OF ELGIN, DATED
WHEREAS, the Board of Education of School District U-46
and the City of Elgin have entered into an Intergovernmental
Agreement for the sale of certain lands known as the Farm
Colony within the corporate limits of the City; and
WHEREAS, the Intergovernmental Agreement, Paragraph 14 ,
provides for a contingent reversion to the Board should the
City fail to develop for industrial and commercial purposes 50%
or more of the property which is the subject of the conveyance
within five years of the date of conveyance; and
WHEREAS, the parties wish to clarify the definition of
"development of the property" ;
NOW, THEREFORE, be it resolved by the Board of Education
of Elgin School District U-46 and the City of Elgin as follows:
1. The term "development" within the meaning of
Paragraph 14 of the Intergovernmental Agreement shall be deemed
to have occurred if the entire subject property has been
classified for industrial or commercial use under the zoning
ordinance of the City of Elgin and one or more of the following
has occurred:
a. At least 50% of the property has been
subdivided for such purposes with required
public improvements to be installed within
twenty-four (24) months following approval of
the subdivision.
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b. Building permits have been issued requiring
commencement of construction within
twenty-four (24) months.
c. A development contract with security for
performance has been executed requiring
commencement of construction within
twenty-four (24) months.
d. A planned unit development for such purposes,
including mixed use but not including
residential uses, has been approved requiring
commencement of construction within
twenty-four (24) months.
e. A. special service area has been established
for commercial or industrial development of
the property.
2 . Nothing in this Amendment shall be construed to
otherwise alter or remove any other provisions of the original
Intergovernmental Agreement.
SIGNED BY:
111
Superintendent ity Mange ,
Elgin School D trict U-46
Dated: February 1 , 1989
• School Administrative Office
`�p 355 East Chicago Street
District Elgin, Illinois 60120
U• A 6 (312) 888-5000
._ Ail
Where Good Things Are Happening In Education
February 14, 1989
Mr. James Cook, City Manager
City of Elgin
150 Dexter Ct.
Elgin, I1 60120
Dear Mr. Cook:
Please find enclosed the revised Amendment to the Intergovernmental Agreement
by and between the Board of Education of School District U-46 and the City of
Elgin. Please sign both copies and return one to me for our records.
Thank you.
Y urs truly, •
ichard Wiggall
Superintendent
RW/Jcp
Encs.
School District U•46 Serves: Bartlett, Elgin, Hanover Park, South Elgin, Streamwood, Wayne