ORDINANCE NO. 24-O-11
AN ORDINANCE APPROVING THE FIRST AMENDMENT TO
REDEVELOPMENT AGREEMENT
(Marshalls and Sketchers)
NOW, THEREFORE, BE IT ORDAINED, by the President and Board of Trustees of the Village of Willowbrook, DuPage County, Illinois, as follows:
SECTION 1:
The President and Board of Trustees of the Village of Willowbrook find as follows:
A. The Village of Willowbrook (“
Village
”) is a home rule municipality pursuant to Section 7 of Article VII of the Constitution of the State of Illinois.
B. Pursuant to its powers and in accordance with the Business District Development and Redevelopment Law, 65 ILCS 5/11-74.3-1, et seq., as amended (“
Business District Law
”), 65 ILCS 5/8-1-2.5, and Ordinance Nos. 16-O-30, 16-O-31, and 16-O-32, adopted July 16, 2016 (collectively, the “
Ordinances
”), the Village established the Illinois Route 83 / Plainfield Road Business District (“
Business District”
), approved a Business District plan (“
Business District Plan
”), and imposed an additional retailers' occupation tax and service occupation tax (“
Business District Tax
”) therein. The Ordinances are incorporated herein by reference.
C. On September 24, 2018, the Mayor and Board of Trustees of the Village adopted Ordinance No. 18-O-25, approving and authorizing the execution of a redevelopment agreement by and between Willowbrook Town Center, LLC (“
Developer”
) and the Village (“
Redevelopment Agreement
”).
D. The Developer is the owner of the property commonly known as 7185 S. Kingery Highway, Willowbrook, Illinois (“
Property
”).
E. The Village and the Developer desire to amend the Redevelopment Agreement with respect to certain additional principal payments on the “Developer Note,” as defined in the Redevelopment Agreement, in order to better ensure the success of the Developer’s redevelopment of the shopping center on the Property, and the Business District as a whole.
F. It is the desire of the Village and the Developer to amend the Redevelopment Agreement on the terms set forth in the “First Amendment” attached hereto and made part hereof of as Exhibit A.
F. It is in the best interest of the Village to amend the Redevelopment Agreement so that redevelopment within the Business District may continue.
SECTION 2
: Based upon the foregoing, the Mayor, Village Clerk, and Village Administrator be and are hereby authorized and directed to approve the First Amendment, and in such other form as may be approved by the Village Administrator and the Village Attorney. The Mayor, the Village Clerk, and the Village Administrator are further authorized and directed to execute and deliver such other instruments, including the Agreement, as may be necessary or convenient to undertake the Village’s obligations in the First Amendment.
SECTION 3: This Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form as provided by law.
ADOPTED this __8th_ day of April, 2024, pursuant to a roll call vote as follows:
AYES:___________________________________________
NAYS:___________________________________________
ABSENT:_________________________________________
APPROVED this ___ day of April, 2024, by the Mayor of the Village of Willowbrook, and attested by the Village Clerk, on the same day.
_____________________________________
Mayor
APPROVED and FILED in my office this ___ day of April, 2024 and published in pamphlet form in the Village of Willowbrook, DuPage County, Illinois.
ATTEST:
____________________________________
Village Clerk
EXHIBIT A
FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT
(attached)