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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. ...
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