HomeMy WebLinkAbout2nd Amendment to TIF Reimbursement Agreement - Purchase of 2222 Main Street and Construction at 2230 Main Street2"d Amendment to TIF Reimbursement Agreement
THIS 2"d AMENDMENT TO TIF REIMBURSEMENT AGREEMENT is entered
into on thisdb day of�, 2011 ["Effective Date"], by and between the City of
Evanston ["City"], and and Manufacturing Company ["Participant"], owner of
property located at 2222 and 2230 Main Street, Evanston, Illinois ["Property"].
RECITALS
WHEREAS, on January 13, 2011, the City and Participant entered into a TIF
Reimbursement Agreement ["Agreement"] for the rehabilitation of the Property [the
"Project"]; and
WHEREAS, Section V of the Agreement, as amended grants Participant 270
days from the effective date of the Agreement in which to complete the Project
[`Time of Performance"]; and
WHEREAS, the Time of Performance shall expire October 13, 2011; and
WHEREAS, said Section V states that 'requests for additional time and
extensions in Project completion time will be granted, but only if submitted in writing
prior to the expiration of the agreement; and
WHEREAS, the Participant has requested, in writing, an extension of the
Time of Performance; and
WHEREAS, the City and Participant both wish to redefine the scope of the
work done by Participant pursuant to the Agreement,
NOW, THEREFORE, in consideration of the foregoing recitals, which are
incorporated herein by this reference, and the mutual obligations of the parties as
herein expressed, the City and Participant agree as follows:
AMENDMENT
I. EXTENSION
Section V of the Agreement is hereby amended to grant Participant an additional 30
days, until November 12, 2011, to complete the Project. Section V, as amended
hereby, shall read as follows:
Participant shall complete the Project within 300 days of the Effective Date of
this Agreement in order to remain eligible for receipt of the Rebate. Failure to
complete the Project within 300 days will result in termination of this
Agreement. Requests for additional time and extensions in project
completion time will be granted, but only if submitted in writing prior to the
expiration of the agreement.
11. PROJECT RE -DEFINITION
The definition of the °Project" set forth in Section I.e of the Agreement is hereby
amended to read as follows:
• Purchase of 2222 Main Street Property
• Creation of Manufacturing Space in the 2222 Main Street Property:
o Replacement of floor with capacity to support metal stamping machines;
o Installation of heating and cooling system;
o Upgrade of facility to comply with code and life safety measures; and
o Installation of energy efficient lighting and solar tubes for better lighting.
• Construction of a connector between 2230 and 2222 Main Street;
• Relocation of presses from 2230 to 2222 Main Street to create space for new
press;
• Purchase and installation of new press for 2230 Main Street; and
• Removal of debris from the rear lot of 2222 Main Street and leveling of rear part
of property.
[Signature page to follow]
IN WITNESS WHEREOF, the City and the Participant have signed this 2"d
Amendment to the TIF Reimbursement Agreement as of the dates set opposite their
signatures.
"CITY"
Dated: I '�- 1 '— t
"PARTICIPANT"
Dated:
By:
U
Name: Wallv Bobkiewicz
Title: Citv Manaaer
By: Woft� �pcu'G�C�C��nr� (n
Name::
Title: V, (l.
Approved as to form:
W. Grant Farrar
Corporation