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An Ordinance Authorizing the Execution of an Annexation and Development Agreement (Duke Realty Renwick Road LLC, a Delaware limited liability company-Jenkins, Kozak, Renwick Road Investments LLC and Village of Romeoville Parcels)
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WHEREAS, Duke Realty Renwick Road LLC, a Delaware limited liability company (“Duke”), is the contract purchaser and will upon the closing of its purchase agreements be the owner of certain real properties and upon such closing shall cause a petition to be filed with the Village of Romeoville to annex the portions of such real properties located in unincorporated Will County, Illinois into the corporate limits of the Village, such unincorporated properties being legally described on Exhibit A hereto, a copy of which is attached and made part hereof; and
WHEREAS, Duke, upon the annexation of the unincorporated portions of the properties described in Exhibit A and its acquisition of the same, shall develop the entirety of such properties in accordance with the provisions of the annexation and development agreement set forth in Exhibit B; and
WHEREAS, the statutory procedures provided for by 65 IL CS 5/11-15.1-1 et seq. required prior to the approval and execution of the annexation and development agreement, including requisite notice and hearing requirements, have been fully satisfied; and,
WHEREAS, the corporate authorities of the Village have determined that it is in the best interest of the Village to enter into the annexation and development agreement attached hereto as Exhibit B with the Owner for the annexation and development of the real property described in Exhibit A, subject to the conditions hereinafter set forth in this ordinance.
NOW THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES FOR THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS; THAT:
SECTION 1: RECITALS. The foregoing recitals are hereby incorporated into this Ordinance as if fully set forth herein.
SECTION 2: AUTHORIZATION. The Village President and Village Clerk are hereby authorized and directed to execute and attest to the execution of an annexation and development agreement substantially in the form attached as Exhibit B, provided, however, that the authorization and approvals herein contained shall be subject to final review and approval by the Village Manager and the Village Attorney of the annexation and development agreement attached hereto as Exhibit B and of all supporting and ancillary documentation and exhibits related thereto or incorporated therein, provided, however, that the authorization and direction herein provided shall be subject to the Village’s prior receipt, within forty five (45) days of the date hereof, of a copy of the annexation and development agreement executed by Duke, together with proof reasonably satisfactory to the Village of Duke’s acquisition and ownership of the property described in Exhibit A. In the event that a copy of the annexation and development agreement attached as Exhibit B and proof reasonably satisfactory to the Village of Duke’s acquisition and ownership of the property described in Exhibit A are received by the Village within such forty-five (45) day period, then the Village President and Village Clerk shall at such time execute and attest to the execution of the annexation and development agreement attached as Exhibit B.
SECTION 3: SEVERABILITY. That the various provisions of this Ordinance are to be considered severable and if any part or portion of this Ordinance shall be held invalid by any Court of competent jurisdiction, such decision shall not affect the validity of the remaining provisions of this Ordinance.
SECTION 4: CONFLICTS. All prior Ordinances and Resolutions, or parts thereof in conflict or inconsistent with this Ordinance are hereby expressly repealed only to the extent of such conflict or inconsistency.
SECTION 5: EFFECTIVE DATE. This Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form as provided by law, for a period of forty-five (45) days from the date of its adoption, during which time this Ordinance shall not be amended, modified, repealed, rescinded or otherwise altered in any way. After the expiration of said forty-five (45) day period, and in the event that the annexation and development agreement attached as Exhibit B has not then been fully executed by the Village and Duke, this Ordinance shall be null and void and of no further force or effect.