Village Obligations. Subsection J, as originally set forth in the First Amendment to the Economic Development Agreement, is hereby amended to replace Section 6, Subsection J in its entirety with the following new Subsection J: SECTION 6. VILLAGE OBLIGATIONS.
Village Obligations. In accordance with Xxxxxxxxx’s commitment to construct the Project, the Villages agree as follows:
Village Obligations. The Village shall construct the Storage Reservoirs and restore Xxxxxxxx’s Playground at no cost to the School District in the manner as mutually agreed upon between the Parties at a later date and memorialized in one or more Inter-Municipal Agreements.
Village Obligations. Village undertakes the following obligations, in consideration of the obligations of Developer, in Section 2.2, below.
(1) Village will provide the CDI Funds to the Developer to assist with the construction of the Project.
(2) Village will release the CDI Funds to the Developer on a disbursement basis, within thirty (30) days of Village receiving the funds from WEDC. The Developer may request the CDI Funds in One (1) or more disbursements.
Village Obligations. A. Village agrees to prepay the some or all of the proportionate share obligations of the Village Parcels based on the following percentages: Ordinance 2019- 29 (23.39), DOS2001-0072 (36.73%), and DOS-2005-00095 (39.88%). Notwithstanding, it is expressly understood that the Village is not assuming the obligations of the Village Parcels but that the Village’s prepayment of any amounts are done for the convenience of the Village and County to expedite the construction of the needed Improvements.
B. The Village will make the initial payments within sixty (60) days of the effective date of this Interlocal Agreement based on the County’s preliminary opinion of probably costs dated attached as Exhibit “B” to this Interlocal
Village Obligations. 1. The Village shall execute an agreement with AVID releasing AVID from all of its obligations under the development agreement executed May 18, 2021, and amended on December 31, 2021, and releasing all personal guarantees related to AVID’s previously proposed project. The Village shall not release AVID from any obligations until the Village has received Developer’s payment under Section C.6. and Xxxxxxxxx has executed this Agreement.
Village Obligations. Provided the Village is able to secure an extension of the Downtown TIF District thereby establishing the TIF Extension Period, the Village shall:
A. Retain one-hundred percent (100%) of the Incremental Property Taxes during the first and second years of the TIF Extension Period in order to pay for ongoing investment, development, and redevelopment activities within the Downtown TIF District.
X. Xxxxxxx as surplus (“Surplus”) one hundred percent (100%) of the Incremental Property Taxes during years three (3) through twelve (12) of the TIF Extension Period which declaration of Surplus shall be made under Section 7 of the TIF Act, 65 ILCS 5/11-74.4-7, and the Village shall pay the Surplus to the Cook County Collector. After payment of the Surplus to the Cook County Collector, the Parties anticipate that, pursuant to Section 7 of the TIF Act, the Cook County Collector will distribute the Surplus as set forth in the TIF Act.
C. Should the Village not perform in accordance with Section 3 (B), above, each School District shall have the right to seek judicial enforcement of this Agreement. The Village shall be obligated to pay each School District’s reasonable attorney’s fees incurred in any such enforcement action, should the School District prevail. In addition, the Village agrees to pay an additional five percent (5%) on any monetary judgment entered as a result of an action to enforce paragraph 3 (B) above.
Village Obligations. The Village will construct and maintain the Stormwater Improvements, if at all, at its sole cost and expense and in compliance with all applicable federal, state, and Village laws, statutes, codes, ordinances, resolutions, rules and regulations, including, without limitation, any and all applicable regulations and permits issued by the Army Corps of Engineers and any other governmental entity with jurisdiction related to the Village Stormwater Improvements (collectively, “Requirements of Law”). The Stormwater Improvements will be constructed and maintained so that they do not make impracticable or infeasible the construction and maintenance of the School Improvements or otherwise unreasonably interfere with or prevent the School District from continuing to utilize the Property for the Crow Island School and related school and sports activities (“School Purposes”). The Stormwater Improvements will be sufficient to meet the stormwater detention and compensatory storage permit requirements for the Property and the School Improvements under the Requirements of Law (presently 10.8 acre feet), including specifically, but without limitation, all requirements of the Metropolitan Water Reclamation District (“MWRD”) and the terms and conditions of the Winnetka Stormwater Management Code and MWRD’s Watershed Management Ordinance. The Village will obligate its contractors to construct the Stormwater Improvements consistent with the Final Plans.
Village Obligations. In consideration of the obligations of DEVELOPER as set forth herein, the sufficiency and receipt of which is hereby acknowledged, the VILLAGE shall:
1. The VILLAGE will exercise its authority to issue building permits as approved construction plans are submitted through the State of Wisconsin and the applicable fees are paid to the VILLAGE.
Village Obligations. DRAFT
12.4.1 The Village shall be responsible for maintaining and repair the Telecommunications Duct System under its control from Village Hall to the vault box in Xxxxxxxx Road adjacent to the Utilities Building. Village shall xxxx School District half of the costs incurred by the Village in maintaining and repairing the system. Village shall include with the xxxx the information used by Village in determining these costs and the School District’s share. The School District shall pay the xxxx within 14 days of its receipt.
