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A Resolution Approving a Development Agreement Between the Village of Romeoville and Normantown Hotel, LLC
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WHEREAS, the Village of Romeoville (the “Village”) has previously created a Tax Increment Finance District known as the “Normantown/Weber Road TIF”; and
WHEREAS, the Village is authorized by the Tax Increment Allocation Redevelopment Act (65 ILCS 11-74.4-1 et. seq.) to enter into Redevelopment Agreements with respect to properties within a TIF District; and
WHEREAS, the Village is a home-rule municipal corporation; and
WHEREAS, it is in the best interest of the Village to enter into a Redevelopment Agreement to provide for the construction and operation of a hotel within the Normantown/Weber Road TIF District.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS, IN THE EXERCISE OF ITS HOME RULE, STATUTORY AND OTHER AUTHORITY AS FOLLOWS:
SECTION 1. APPROVAL AND AUTHORIZATION
The Redevelopment Agreement substantially in the form of Exhibit A attached hereto is hereby approved and that the Mayor is authorized and directed to execute the Redevelopment Agreement on behalf of the Village and the Village Clerk is authorized and directed to attest ot the Mayor’s signature.
SECTION 2. SEVERABILITY
This Resolution and every provision thereof shall be considered severable, and the invalidity of any section, clause, paragraph, sentence or provision of this Resolution shall not affect the validity of any other portion of this Resolution.
SECTION 3. REPEALER
All resolutions, ordinances or parts of resolutions conflicting with any provision of this resolution, are hereby repealed.
SECTION 4. EFFECTIVE DATE
This Resolution shall be in full force and effect after its passage, approval and publication in pamphlet form.