HomeMy WebLinkAbout92-0923 Reuter Qa- 09 a3
V
RESOLUTION
AUTHORIZING EXECUTION OF A FIRST AMENDMENT TO A FACADE
IMPROVEMENT PROGRAM AGREEMENT
( 163, 165 and 167 East Chicago Street)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Larry L. Rice, City Manager, and Dolonna Mecum,
City Clerk, be and are hereby authorized and directed to
execute a First Amendment to the Facade Improvement Program _
Agreement on behalf of the City of Elgin with Jack Reuter and.
Dorothy Reuter for the property commonly known as 163, 165 and
167 East Chicago Street, a copy of which is attached hereto
and made a part hereof by reference.
s/ George VanDeVoorde
George VanDeVoorde, Mayor
Presented: September 23, 1992
Adopted: ' September 23, 1992
Omnibus Vote: Yeas 7 Nays 0
Recorded: V
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
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FIRST AMENDMENT TO THE FACADE IMPROVEMENT PROGRAM AGREEMENT
BETWEEN THE CITY OF ELGIN AND JACK AND DOROTHY REUTER
ENTERED JUNE 26 , 1992
WHEREAS, on March 27 , 1991 the City established a Facade
Improvement Program for application within certain designated
rehabilitation areas of the City; and
WHEREAS, the City of Elgin and Jack and Dorothy Reuter
entered into a Facade Improvement Program Agreement dated
June 26, 1991 to undertake approved improvements to the fa-
cade of the property at 163, 165, 167 East Chicago Street;
WHEREAS, the Facade Improvement Agreement as it existed
on June 26 , 1991 provided for a maximum rebate of $15,000,
based upon the formula established under the program at that
time:
WHEREAS, on April 22 , 1992 the Elgin City Council ap-
proved an amendment to the program which would allow a maxi-
mum $7,500 rebate per store front for projects incurring
costs over $75,000;
WHEREAS, the project at 163, 165 and 167 East Chicago
Street has incurred costs of over $75,000; those costs in-
curred after the program provisions were amended.
NOW, THEREFORE, to conform with the Facade Improvement
Program, as amended, Section 1 . of the Facade Improvement
Program Agreement between the City of Elgin and Jack and
Dorothy Reuter dated June 26, 1991 will be amended to read:
[ . . '-' A_ ,
J _
SECTION 1 . The City shall share in the facade improve-
ment cost for the owner' s property by providing a rebate of
35% for 72 feet of store front which extends upwards through
a maximum of two story levels, up to a maximum amount not
exceeding $22 ,500 . An additional rebate of 0% up to a maxi-
mum of $0, will also be provided for facade improvements
which extend into that part of the structure extending above
the initial two stories of the building. (For each 30-foot
increment of front, a pro-rata rebate has been applied. )
IN WITNESS THEREOF, the parties hereto have executed
this Amendment on the date first appearing above.
OWNER CITY OF ELGIN
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__ La-ry` L. Ri e, City Manager
ATTEST:
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City Clerk
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Agenda Item No .
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� ,IDTL61
September 2, 1992
TO: Mayor and Members of the City Council
FROM: Larry L. Rice, City Manager
SUBJECT: Amendment to Facade Improvement Agreement -
163, 165, 167 East Chicago Street
PURPOSE
To present the first amendment to a Facade Improvement
Program Agreement for the properties at 163, 165 and 167 East
Chicago Street.
• BACKGROUND
On June 26, 1991, the City Council authorized entering
into an agreement with Jack and Dorothy Reuter for property
improvements under the City' s Facade Improvement Program. On
April 22, 1992, the City Council approved an amendment to the
program which would allow a maximum $7,500 rebate per store-
front for projects incurring costs over $75,000. The project
at 163, 165 and 167 East Chicago Street has incurred costs of
over $75,000 . Those costs were incurred after the program
amendments were authorized.
FINANCIAL IMPACT
The maximum rebate possible for this project is $22,500 .
RECOMMENDATION
It is recommended that the City Council approve amending
the Facade Improvement Program . Agreement with Jack and Doro-
thy Reuter.
P°'
Larry L. Rice City Manager
•
LLR:amp
Attachment