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O-08-25 Approving the Second Amendment to the Redevelopment Agreement Between the Village of Lemont and Lenny's Real Estate0- 418 Main Street I Lemont, IL 60439 TO: Village Board Meeting FROM: George Schafer, Administration THROUGH: SUBJECT: An Ordinance Approving the Second Amendment to the Redevelopment Agreement Between the Village of Lemont and Lenny's Real Estate Development, LLC for a Redevelopment Project at 10900 South Archer Avenue in the Village of Lemont Main Street / Archer Avenue Tax Increment Redevelopment Project Area DATE: March 10, 2025 SUMMARY/BACKGROUND The Village of Lemont adopted Ordinance 0-22-23 approving a redevelopment agreement (RDA) with Lenny's Lemont to support the construction of a Gas N Wash at the northwest corner of IL-83 and Main Street. Gas N' Wash has been operating for about a year, including a fuel station, two quick service restaurants and convenience store. The Village also approved an amendment to the redevelopment agreement on June 10, 2024 - adopted as Ordinance 0-24-24. The amendment primarily included reconfiguration of the lots for additional truck parking areas along Main Street and addition of a retail outlot along Archer Ave, which is still being marketed. A second amendment to the redevelopment agreement is needed to reimburse eligible costs to the developer and to include previously agreed upon truck parking restrictions into the redevelopment agreement. Reimbursement: The reimbursable costs are eligible costs subject to the redevelopment agreement (under the maximum allowed in the RDA) and Village responsible costs paid by the developer. Total reimbursement is $415,043.43. There will be no further requests for reimbursements considered until the full tax bills are assessed/realized for the site. Regulations: At previous committee meetings and through the rezoning process, truck parking restrictions were discussed to include no overnight truck parking (10 pm - 4 am), a 2 hour limit for truck parking and a no idling policy. The gates and signage have been installed and codifying these provisions in the redevelopment agreement amendment is beneficial to all. It also includes an intent to enter into a traffic control agreement should the need arise in the future which would allow the Village to enforce regulations. ANALYSIS Consistency with Village Policy Budget (if applicable) STAFF RECOMMENDATION Staff recommends Approval of Amended Agreement BOARD ACTION REQUESTED Motion to Approve Ordinance ATTACHMENTS Ordinance Approving the Second Amendment RDA 4917-7152-4388.pdf Second Amendment 3.7.25.pdf VILLAGE OF LEMONT ORDINANCE NUMBER O- 15 -25 AN ORDINANCE APPROVING THE SECOND AMENDMENT FOR THE REDEVELOPMENT AGREEMENT FOR THE PROPERTY LOCATED AT THE NORTHWEST CORNER OF ILLINOIS ROUTE 83 & MAIN STREET INTHE VILLAGE OF LEMONT, ILLINOIS JOHN EGOFSKE, Village President CHARLENE M. SMOLLEN, Clerk JANELLE KITTRIDGE DAVE MAHER KEN MCCLAFFERTY KEVIN SHAUGHNESSY RICK SNIEGOWSKI RON STAPLETON Trustees Published in pamphlet form by authority of the Village President and Board of Trustees of the Village of Lemont on 3-OZ?2025 11 ORDINANCE NO.O- � -25 AN ORDINANCE APPROVING THE -SECOND AMENDMENT FOR THE REDEVELOPMENT AGREEMENT FOR THE PROPERTY LOCATED AT THE NORTHWEST CORNER OF ILLINOIS ROUTE 83 & MAIN STREET IN THE VILLAGE OF LEMONT, ILLINOIS WHEREAS the Village of Lemont, Counties of Cook, Will and DuPage, Illinois, ("the Village") is a municipality in the state of Illinois with full powers to enact ordinances and adopt ordinances for the benefit of the residents of the Village; and WHEREAS, the Village has entered into three real estate contracts ("Contracts") providing for the sale of three contiguous parcels of real estate (collectively the "Property") which have been assigned to Lenny Lemont Real Estate Development LLC ("Lenny's"); and WHEREAS, the Village and Lenny's agreed to increase the purchase price in one of the three Contracts from One Million Five Hundred Thousand Dollars ($1,500,000.00) to Two Million Dollars ($2,000,000.00). WHEREAS, Lenny's has redeveloped the property, and certain costs require amendments to the previously entered Redevelopment agreement and its amendments. NOW THEREFORE, be it ordained by the President and Board of Trustees of the Village of Lemont, Cook, DuPage and Will County, Illinois as follows: SECTION l: The above recitals and legislative findings are found to be true and correct and are hereby incorporated herein and made a part hereof as if fully set forth in their entirety. 2 V SECTION 2: The second amendment to the redevelopment/purchase and sale agreement attached hereto as Exhibit A is hereby approved and the Village President is authorized execute this said amendment on behalf of the Village. SECTION 3: If any section, paragraph, clause or provision of this ordinance shall be held invalid, the invalidity thereof shall not affect any of the other provisions of this ordinance. SECTION 4: All ordinances in conflict herewith are hereby repealed to the extent of such conflict. SECTION 5: This ordinance shall be in full force and effect from and after its passage, approval and publication as provided by law. 3 ADOPTED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VI GE OF LEMONT, COUNTIES OF COOK, WILL, AND DUPAGE, ILLINOIS, ON THIS DAY OF MARCH 2O25. PRESIDENT AND VILLAGE BOARD MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: Janelle Kittridge V Dave Maher Ken McClafferty Kevin Shaughnessy Rick Sniegowski Ron Stapleton Attest: Joh Egofske, Village President Charlene M. Smollen, Village Clerk G�OFIF v �® v � '<<1�d®�S 4 STATE OF ILLINOIS ) ) SS COUNTY OF COOK ) CERTIFICATION I, Charlene Smollen, do hereby certify that 1 am the duly qualified and elected Village Clerk of the Village of Lemont, Cook, DuPage and Will County, Illinois, and that as such Village Cleric I do have charge of and custody of the books and records of the Village of Lemont, Cook County, Illinois. I do l Preby further certify that the foregoing is a full, true and correct copy of Ordinance No "AN ORDINANCE APPROVING THE SECOND AMENDMENT TO A PURCHASE AND SALE AGREEMENT FOR THE PROPERTY LOCATED AT THE NORTHWEST CORNER OF ILLINOIS ROUTE 83 & MAIN STREET IN THE VILLAGE OF LEMONT, ILLINOIS," adopted and approved by the President and Board of Trustees of the Village of Lemont, Illinois on March 1(), 2025. IN WITNESS WHEREOF, I have hereunto affixed my hand and the Corporate Seal of the Village of Lemont, Cook, DuPage and Will County, Illinois this -10 day of March 2025. Q' "moo � 2 — 4 7 /ZLINO�S Village Clerk Village of Lemont Cook County, Illinois I SECOND AMENDMENT TO THE REDEVELOPMENT AGREEMENT BETWEEN THE VILLAGE OF LEMONT AND LENNY'S LEMONT REAL ESTATE DEVELOPMENT, LLC FOR A REDEVELOPMENT PROJECT AT 10900 SOUTH ARCHER AVENUE IN THE VILLAGE OF LEMONT MAIN STREET/ARCHER AVENUE TAX INCREMENT REDEVELOPMENT PROJECT AREA This Second Amendment dated March 10, 2025 (the "Second Amendment") to the Redevelopment Agreement between the Village of Lemont and Lenny's Lemont Real Estate Development, LLC for a Redevelopment Project at 10900 South Archer Avenue in the Village of Lemont Main Street/Archer Avenue Tax Increment Redevelopment Project Area is made by and among the Village of Lemont, an Illinois municipal corporation duly organized and existing under the laws of the State of Illinois (the "Village"), and Lenny's Lemont Real Estate Development, LLC, an Illinois limited liability company (the "Developer") for the property located at 10900 South Archer Avenue, Lemont, IL 60439, as follows: 1. The definition of "Eligible Costs" is changed to read: "Eligible Costs" mean any costs for acquisition, demolition, surveying, soil testing, site furnishings, earthwork, site utilities, fencing, parking lot paving, stormwater system, water retention, storage vaults and flood control which qualify as redevelopment project costs under 65 ILCS 5/11-74.4-3(q) and the Redevelopment Plan which are paid or incurred by the Developer in connection with the Developer Project and which have been approved and authorized by the Village. 2. The Village agrees to provide the additional financial assistance set forth in paragraph 3 which is evidenced by the gross purchase price for the Developer Property of $3,200,000 which resulted in a net amount paid to the Village of $2,715,568. 3. The Village agrees to pay the Developer from the Developer Incremental Property Taxes the amount of $460,000.00 and the amount of $415,043.43. These amounts are hereby approved as Eligible Costs. The obligation hereunder to pay the amount of $460,000.00 is hereby assigned by the Developer to the Village to allow the recapture of real estate taxes and interest thereon charged to the Village at closing and subsequent thereto. The obligation to pay the $415,043.43 to the Developer is to allow the recapture of real estate taxes ($182,711.99) paid by the Developer which were the responsibility of the Village and additional costs and unforeseen site improvements including the truck parking area ($185,973.44) and light pole ($46,358.00).