Title
An Ordinance Authorizing the Execution of an Annexation and Development Agreement (Series N of IBT Holdings, LLC, an Illinois limited liability company, and Romeoville Properties L.L.C., a Michigan limited liability company)
Body
WHEREAS, Series N of IBT Holdings LLC, an Illinois limited liability company ("Owner"), is the owner of certain real property and has filed a petition with the Village of Romeoville to annex the portion of such real property located in unincorporated Will County, Illinois into the corporate limits of the Village, such property being legally described on Exhibit A hereto, a copy of which is attached and made part hereof; and
WHEREAS, Series N of IBT Holdings LLC is also the owner of certain real property presently incorporated within the corporate limits of the Village, such property being legally described on Exhibit B hereto, a copy of which is attached and made part hereof; and
WHEREAS, Romeoville Properties L.L.C., a Michigan limited liability company ("Developer"), is the contract purchaser and prospective developer of the property described in Exhibits A and B hereto, and has filed a development application with the Village for the approval of an annexation and development agreement governing the property described in Exhibits A and B, for the annexation of the unincorporated portion of such property, and for the adoption of ordinances zoning all of such property and granting approval of a special use permit for planned unit development-general development plan applicable to all of such property, all in accordance with the terms and conditions of an annexation and development agreement, a copy of which is attached hereto and incorporated herein as Exhibit C; and
WHEREAS, Developer, upon the annexation and zoning of the property described in Exhibits A and B, shall develop the same in accordance with the provisions of the annexation and development agreement set forth in Exhibit C; and
WHEREAS, the statutory proc...
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