===== PDF PAGE 4 =====
[Extraction: OCR (rendered-page OCR)]
CITY OF WEST CHICAGO
FINANCE COMMITTEE
AGENDA ITEM SUMMARY
ITEM TITLE:
AGENDA ITEM NUMBER: _ “A.
Resolution No. 19-R-0066 — Partial Property Tax
Abatement — Midwest Industrial Funds FILE NUMBER:
COMMITTEE AGENDA DATE: 12/12/19
COUNCIL AGENDA DATE: 12/16/19
STAFF REVIEW: SIGNATURE.
APPROVED BY CITY ADMINISTRATOR: SIGNATURE
ITEM SUMMARY:
Attached is a request for a partial property tax abatement from a representative from Midwest Industrial
Funds (MIF) for a 303,000 sf building in the DuPage Business Center. Also included is a property tax
analysis and an IGA. The IGA is slightly different than the others previously considered and included in
our template agreement; the primary changes are as follows:
(1) MIF builds speculative buildings, where it constructs the shell, and then looks for tenants to occupy
the building. At this time, Skyjack (currently in Batavia) wants to move its corporate office and
warehouse to this spec building, occupying about 100,000 sf., leaving another 200,000+ sf to be
leased. Since those tenants are not yet known, the IGA has a provision whereby the City has the
right to reject a potential tenant for the reasons listed in Section 2D.
(2) This partial property tax abatement is for 40% as opposed to 50% as was approved in the past.
(3) The clawback provision benchmarks at 7 years (rather than 10) for 75% of the pro rata share, to
match the lease term of Skyjack, the only known tenant.
STAFF RECOMMENDATION:
Staff recommends approval of Resolution No. 19-R-0066.
COMMITTEE RECOMMENDATION:

===== PDF PAGE 5 =====
[Extraction: OCR (rendered-page OCR)]
September 10, 2019
Mr. Michael Guttman
City Administrator
City of West Chicago
475 Main Street
West Chicago, IL 60185
Dear Mr. Guttman,
Skyjack is a subsidiary of global publicly traded Linamar Corporation, a diversified global manufacturing
company of highly engineered products powering vehicles, motion, work and lives. Linamar has more
than 28,600 employees in 60 manufacturing locations, 8 R&D centers and 25 sales offices in 17 countries
in North and South America, Europe and Asia.
Skyjack proudly provides quality engineered, simple, and reliable access and material handling
equipment globally to allow customers to maximize utilization and their return on investment. Skyjack
was formed in 1985 and since then has maintained a solid reputation due to the quality and reliability of
our products.
We became an industry leader by providing machine features that combine durability, quality, and
serviceability, making our products world renowned for product reliability. Our customers include
United Rentals, Sunbelt Rentals, Ahern Rentals, Sunstate Rentals, H&E Equipment. Over the last 30
years, Skyjack was the first to introduce the swing out component tray on scissor lifts, and to launch
narrow and high platforms.
Skyjack prides itself on its community involvement and support. Most recently, we have locally
sponsored the Kane County Cougars as well as participated with the Toys for Tots charity and the East
Aurora School District to provide school supplies to kids in need.
Skyjack’s current office operations and national distribution hub are located in St. Charles, IL which
employs 65 people. Skyjack is evaluating options for consolidation and expansion of its St. Charles,
Illinois, Glendale, Arizona, and Howell, Michigan operations. Skyjack is exploring relocating office,
manufacturing, warehousing, and financial headquarters to be under one roof and act as its US
headquarters function. This would result in an additional 40 jobs to the selected location for a total of
105 jobs.
Skyjack is in the process of searching for a site to best accommodate those operations. Locations under
consideration include existing buildings in Michigan and Illinois. Illinois sites under consideration include
Batavia, DuPage Business Park in West Chicago, and North Aurora, IL. Michigan sites under
consideration include Howell, MI.
The proposed DuPage Business Park location is 17.88 acres and includes parcel 04-18-100-003. The
subject site is Lot 15 on the attached ALTA Survey and is also depicted on the attached Site Plan as

===== PDF PAGE 6 =====
[Extraction: OCR (rendered-page OCR)]
Proposed North Office/Warehouse. It would include leasing space within Midwest Industrial Funds new
303,601 SF facility and bringing 105 new jobs with an average wage of $65,000 to West Chicago. For this
proposed site, occupancy would begin January 2020 and jobs would ramp up through 2020.
In order to bring this project to fruition in West Chicago, we respectfully request a property tax
abatement of 50% for a ten-year term. The value of the abatement is estimated to be $1,739,243 over a
ten-year period. The net taxes to the districts are estimated to be $2,419,053 over a ten-year period.
This is a competitive project. Skyjack is currently considering multiple location options for this project.
e In Michigan, Skyjack is considering a relocation/consolidation with its current site in the Howell
area. This option would represent a real estate lease, operating expenses, and tax savings of 10-
20% in comparison to the West Chicago option. This project would also be eligible for a 10-12
year, 50% property tax abatement.
¢ — InIllinois, Skyjack is investigating Batavia, West Chicago, and North Aurora for this project. The
Batavia and North Aurora sites are attractive because of the lower all in occupancy costs, but
are not as functional operationally as the West Chicago site.
Skyjack is investigating the all-in costs of operating at each location. The alternative properties
represent lower costs than the West Chicago site without property tax abatement. This project requires
Skyjack’s board approval. West Chicago’s partnership and participation with the tax abatement would
help achieve Skyjack’s board approval. If the abatement is awarded, Skyjack would commit to moving
its US headquarters, manufacturing and national distribution hub to this West Chicago property.
Thank you for your consideration of this request. We are hopeful West Chicago and the other taxing
districts’ support will enable Skyjack to site this project in West Chicago.
Sincerely,
Skyjack
Executive Vice President, Americas

===== PDF PAGE 7 =====
[Extraction: OCR (rendered-page OCR)]
Midwest Industrial Funds
Tax Estimates
Preliminary & Confidential
Before Abatement $ 415,830 442,305
$ (173,924)
$ 241,905
Anticipated Taxes Before Abatement $ 377,448 $ 377,448 $ 408,561 $ 408561 $ 408,561 $ 408,561 $ 442,240 $ 442,305 $ 442,305 $ 442,305 $ 4,158,296
Less: Abatement $ (157,878) $ (157,878) $ (170,892) $ (170,892) $ (170,892) $ (170,892) $ (184,979) $ (184,979) $ (184,979) $ (184,979) $ (1,739,243)
Taxes Net of Abatement $ 219,569 $ 219,569 _$ 237,669 $ 237,669 $ 237,669 $ 237,669 $ 257,261 $ 257,326 $ 257,326 $ 257,326 $2,419,053

===== PDF PAGE 8 =====
[Extraction: OCR (rendered-page OCR)]
Midwest Industrial Funds
Tax Estimates
Preliminary & Confidential
RY RY
LAND VALUE 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total
Tax Rate 10.093% 10.09% 10.09% 10.09% 10.09% 10.09% 10.09% 10.09% 10.09% 10.09% 10.09% 10.09%
land EAV $ 6,699 $ 6,699 $ 6,699 $ 6,699 $ 7,251 $ 7,251 $ 7,251 $ 7,251 $ 7,849 $ 8496 $ 8496 $ 8,496
Land Taxes $ 676 $ 676 $ 676 $ 732 $ 732 $ 732 $ 732 $ 792 $ 857 $ 857 $ 857 8,321
INCREMENTAL VALUE
Estimated FMV $ 11,200,000 $ 11,200,000 $ 12,123,240 $ 12,123,240 $ 12,123,240 $ 12,123,240 $ 13,122,585 $ 13,122,585 $ 13,122,585 $ 13,122,585
Assessment Ratio 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33%
Equalization Factor 1 1 1 1 1 1 1 1 1 1
EAV $3,732,960 $ 3,732,960 _$ 4,040,676 _$ 4,040,676 $ 4,040,676 $ 4,040,676 $ 4,373,758 $ 4,373,758 $ 4,373,758 $ 4,373,758
TOTAL TAXES WITHOUT ABATEMENT $ 377,448 $ 377,448 $ 408,561 $ 408,561 $ 408,561 $ 408,561 $ 442,240 $ 442,305 $ 442,305 $ 442,305 4,158,296
Tax PSF $ 124 $ 124 $ 135 $ 135 $ 135 $ 135 $ 146 $ 146 $ 146 $ 1.46
50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
ABATED TAXES
GRADE SCHOOL DIST 33 4.563% $ 85,163.75 $ 85,164 $ 92,184 $ 92,184 $ 92,184 $ 92,184 $ 99,783 $ 99,783 $ 99,783 $ 99,783
HIGH SCHOOL DIST 94 2.241% $ 41,833 $ 41,833 $ 45,282 $ 45,282 $ 45,282 $ 45,282 $ 49,015 $ 49,015 $ 49,015 $ 49,015
WEST CHGO FIRE DIST 0.842% $ 15,710 $ 15,710 $ 17,008 $ 17,005 $ 17,005 $ 17,005 $ 18,407 $ 18,407 $ 18,407 $ 18,407
CITY OF WEST CHICAGO 0.518% $ 9,665 $ 9,665 $ 10,461 $ 10,461 $ 10,461 $ 10,461 $ 11,324 $ 11,324 $ 11,324 $ 11,324
WEST CHGO LIBR DIST 0.470% $ 5,234 $ 5,234 $ 5,665 $ 5,665 $ 5,665 $ 5,665 $ 6,132 $ 6132 $ 6,132 $ 6,132
DU PAGE AIRPORT AUTH 0.016% $ 273 $ 273_$ 295 _$ 295 $ 295 $ 295 $ 319 $ 319 $ 319 $ 319
8.650% $ 157,878 $ 187,878 $ 170,892 $ 170,892 $ 170,892 $ 170,892 $ 184,979 $ 184,979 $ 184,979 $ 184,979 1,739,243
TOTAL TAX COLLECTED (Land + Building) $ . $ 219,569 $ 219,569 $ 237,669 $ 237,669 $ 237,669 $ 237,669 $ 257,261 $ 257,326 $ 257,326 $ 257,326 2,419,053
TOTAL INCREMENTAL TAX COLLECTED NET OF ABATEMENT (Building)
GRADE SCHOOL DIST 33 $ 85,164 $ 85,164 $ 92,184 $ 92,184 $ 92,184 $ 92,184 $ 99,783 $ 99,783 $ 99,783 $ 99,783
HIGH SCHOOL DIST 94 $ 41,833 $ 41,833 $ 45,282 $ 45,282 $ 45,282 $ 45,282 $ 49,015 $ 49,015 $ 49,015 $ 49,015
WEST CHGO FIRE DIST $ 15,710 $ 15,710 $ 17,008 $ 17,008 $ 17,005 $ 17,005 $ 18,407 $ 18,407 $ 18407 $ 18,407
CITY OF WEST CHICAGO $ 9,665 $ 9,665 $ 10,461 $ 10,461 $ 10,461 $ 10,461 $ 11,324 $ 11,324 $ 11,324 $ 11,324
WEST CHGO LIBR DIST $ 5,234 $ 5,234 $ 5,665 $ 5,665 $ 5,665 $ 5,665 $ 6132 $ 6,132 $ 6,132 $ 6,132
DU PAGE AIRPORT AUTH $ 273_$ 273 $ 295 $ 295 $ 295 $ 295_$ 319 $ 319 _ $ 319 $ 319
Total $ 157,878 $ 157,878 $ 170,892 $ 170,892 $ 170,892 $ 170,892 $ 184,979 $ 184,979 $ 184,979 $ 184,979 1,739,243

===== PDF PAGE 9 =====
[Extraction: OCR (rendered-page OCR)]
Midwest Industrial Funds
Tax Estimates
Preliminary & Confidential
Assumptions
Assessment Ratio
Growth Rate
Proposed Site
Acres
Estimated Land EAV
Bldg. SF
Total Tax PSF
Tax
Estimated FMV
33.33%
2%
17.88
$ 6,699
303,601
$ 1.24
$ 377,419
$ 11,200,000

===== PDF PAGE 10 =====
[Extraction: OCR (rendered-page OCR)]
RESOLUTION NO. 19-R-0066
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE AN
INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF WEST
CHICAGO, DUPAGE AIRPORT AUTHORITY, WEST CHICAGO LIBRARY
DISTRICT, WEST CHICAGO FIRE PROTECTION DISTRICT, WEST CHICAGO
ELEMENTARY DISTRICT 33, COMMUNITY HIGH SCHOOL DISTRICT 94
AND MIF 2525 ENTERPRISE (WEST CHICAGO) LLC IN REGARD TO A
PROPERTY TAX ABATEMENT RELATIVE TO THE DEVELOPMENT OF THE
MIDWEST INDUSTRIAL FUNDS PROPERTY
BE IT RESOLVED by the City Council of the City of West Chicago, in
regular session assembled, that the Mayor is hereby authorized to execute an
Intergovernmental Agreement Between the City of West Chicago, DuPage Airport
Authority, West Chicago Library District, West Chicago Fire Protection District, West
Chicago Elementary School District 33, Community High School District 94 and MIF
2525 Enterprise (West Chicago), LLC in regard to a Property Tax Abatement Relative
to the Development of the Midwest Industrial Funds Property, a copy of which, in
substantially the same form, is attached hereto and incorporated herein as Exhibit “A”.
APPROVED this 16" day of December, 2019.
AYES:
NAYES:
ABSTAIN:
ABSENT:
Mayor Ruben Pineda
ATTEST:
City Clerk Nancy M. Smith

===== PDF PAGE 11 =====
[Extraction: OCR (rendered-page OCR)]
INTERGOVERNMENTAL AGREEMENT
BETWEEN THE CITY OF WEST CHICAGO, DUPAGE AIRPORT AUTHORITY, WEST
CHICAGO LIBRARY DISTRICT, WEST CHICAGO FIRE PROTECTION DISTRICT,
WEST CHICAGO ELEMENTARY SCHOOL DISTRICT 33, COMMUNITY HIGH
SCHOOL DISTRICT 94 AND MIF 2525 ENTERPRISE (WEST CHICAGO), LLC IN
REGARD TO A PROPERTY TAX ABATEMENT RELATIVE TO THE DEVELOPMENT
OF THE MIDWEST INDUSTRIAL FUNDS PROPERTY
This INTERGOVERNMENTAL AGREEMENT (“Agreement”) is entered into this
day of , 2019 (“Effective Date”), by and between the CITY OF
WEST CHICAGO, an Illinois home rule municipal corporation (“CITY”), the DUPAGE
AIRPORT AUTHORITY, an Illinois airport authority (“AIRPORT”), the WEST CHICAGO
LIBRARY DISTRICT, an Illinois library district (“LIBRARY”), the WEST CHICAGO FIRE
PROTECTION DISTRICT, an Illinois fire protection district (“FIRE PROTECTION
DISTRICT”), the WEST CHICAGO ELEMENTARY SCHOOL DISTRICT 33, an Illinois
school district (“ELEMENTARY SCHOOL DISTRICT”), the COMMUNITY HIGH
SCHOOL DISTRICT 94, an Illinois school district (“HIGH SCHOOL DISTRICT”), and
MIF 2525 ENTERPRISE (WEST CHICAGO), LLC, a Delaware limited liability company
authorized to conduct business in the State of Illinois (‘DEVELOPER’). The CITY, the
AIRPORT, the LIBRARY, the FIRE PROTECTION DISTRICT, the ELEMENTARY
SCHOOL DISTRICT, the HIGH SCHOOL DISTRICT, and the DEVELOPER are
sometimes individually referred to herein as a “Party” and collectively referred to as the
“Parties.”
WITNESSETH
WHEREAS, DEVELOPER owns vacant land on Enterprise Circle in West
Chicago, Illinois, in the DuPage Business Park, consisting of approximately eighteen
(18) acres, with said property being legally described on EXHIBIT A-1, attached hereto
427987_7 1

===== PDF PAGE 12 =====
[Extraction: OCR (rendered-page OCR)]
and made part hereof, and depicted on EXHIBIT A-2, attached hereto and made part
hereof (“Subject Property”); and
WHEREAS, the DEVELOPER desires to develop the Subject Property with a
building of approximately three hundred three thousand (303,000) square feet, as
depicted and further described in EXHIBIT B-1 and EXHIBIT B-2, respectively, attached
hereto and made a part hereof (“Project”); and
WHEREAS, Linamar Corporation (the parent company of certain affiliated
entities, including Skyjack Equipment, Inc.) (“Skyjack”) is the initial tenant leasing
approximately one hundred thousand (100,000) square feet of space in the building to
be built as part of the Project, which space shall be used as Skyjack’s United States
headquarters and for warehousing and distributing Skyjack products; and
WHEREAS, it is anticipated Skyjack will employ approximately eighty (80) to
ninety (90) employees at the building developed as part of the Project; and
WHEREAS, the DEVELOPER now owns and desires to develop and operate the
Project on the Subject Property; and
WHEREAS, in order to induce the DEVELOPER to proceed with the Project, the
CITY, the AIRPORT, the LIBRARY, the FIRE PROTECTION DISTRICT, the
ELEMENTARY SCHOOL DISTRICT, and the HIGH SCHOOL DISTRICT (collectively
the “UNITS OF GOVERNMENT”) agree to provide the DEVELOPER with a partial real
estate tax abatement in regard to certain of the real estate taxes assessed by the
UNITS OF GOVERNMENT against the Subject Property (Tax Abatement”); and
WHEREAS, the Tax Abatement will provide a real estate tax abatement from the
UNITS OF GOVERNMENT to the DEVELOPER pursuant to 35 ILCS 200/18-165
427987_7 2

===== PDF PAGE 13 =====
[Extraction: OCR (rendered-page OCR)]
(“Abatement Law”); and
WHEREAS, the UNITS OF GOVERNMENT have agreed to provide the Tax
Abatement to the DEVELOPER, pursuant to the terms and conditions as set forth in this
Agreement, provided the DEVELOPER agrees to refrain from taking any actions, either
directly or indirectly, to lower the equalized assessed valuation of the Subject Property,
including the Project located thereon, for a period of fifteen (15) years after the
“Commencement Date,” as defined below, below those equalized assessed valuations
as set forth on EXHIBIT C, attached hereto and made part hereof (‘Anticipated
Assessed Values”); and
WHEREAS, the DEVELOPER is in agreement with the restriction set forth
above, relative to refraining from taking any actions, either directly or indirectly, to lower
the equalized assessed valuation of the Subject Property below the Anticipated
Assessed Values for the Subject Property; and
WHEREAS, by providing the Tax Abatement, in exchange for the DEVELOPER
agreeing to refrain from taking any actions, either directly or indirectly, to lower the
equalized assessed valuation of the Subject Property below the Anticipated Assessed
Values for the Subject Property, the UNITS OF GOVERNMENT will induce the
DEVELOPER to cause the Project to be constructed and operated, which the UNITS
OF GOVERNMENT anticipate will provide future financial benefits for the UNITS OF
GOVERNMENT; and
WHEREAS, Article VII, Section 10 of the 1970 Illinois Constitution, 5 ILCS 220/1
et seq. and the CITY’S home rule powers provide the authority for this Agreement; and
WHEREAS, it is in the best interests of the Parties to enter into this Agreement.
427987_7 3

===== PDF PAGE 14 =====
[Extraction: OCR (rendered-page OCR)]
NOW, THEREFORE, in consideration of the foregoing, and the mutual covenants
and agreements contained herein, the Parties hereto agree as follows:
1 INCORPORATION OF PREAMBLES. The preambles hereto, as set forth
above, are incorporated herein by reference and are made part hereof.
zi DEVELOPER CONDITIONS. The DEVELOPER'S right to receive the Tax
Abatement under this Agreement is expressly conditioned upon the ongoing
satisfaction by the DEVELOPER of the conditions in this Section 2. The
DEVELOPER shall:
A.
427987_7
Construct and operate the Project on the Subject Property substantially in
accordance with the preliminarily site plan and Project description in
EXHIBITS B-1 and B-2, and as EXHIBITS B-1 and B-2 may be updated
from time to time by the agreement of the DEVELOPER and the CITY,
with any updates thereto being appended as revised EXHIBITS B-1 and
B-2 without the need to further amend this Agreement;
Obtain certificates of occupancy, or final approvals, from all governmental
entities having jurisdiction over the design and construction of the Project
(i) for the shell of the building constructed on the Subject Property as part
of the Project on or before April 1, 2020, and (ii) for the portion of the
Project that Skyjack will occupy, on or before August 1, 2020. The date
the DEVELOPER receives the last of the foregoing certificates of
occupancy or final approvals shall be the “Commencement Date”. The
DEVELOPER shall notify each of the UNITS OF GOVERNMENT of the
Commencement Date within fourteen (14) days after the Commencement
Date has occurred;
Comply with the real estate tax obligations set forth in Section 4. below;
During the first ten (10) years following the Commencement Date, obtain
the CITY'S prior written consent before any user, licensee, tenant or
occupant, other than Skyjack, takes possession, by license, lease or
otherwise (“Occupant”), of any portion of the Subject Property. The CITY
may withhold its consent if, in its sole discretion, the CITY determines that:
(i) the contemplated use by such Occupant may have an adverse and
harmful effect on the environment, (ii) the contemplated use by such
Occupant may contribute to the CITY having a negative identity or image,
(iii) the contemplated use by such Occupant, or the Occupant, is deemed
undesirable, or (iv) the Occupant is a non-taxable entity. Prior to allowing

===== PDF PAGE 15 =====
[Extraction: OCR (rendered-page OCR)]
any Occupant, other than Skyjack, to take possession, by license, lease or
otherwise, of any portion of the Project, the DEVELOPER shall provide the
CITY with a written request for the CITY'S consent. The CITY shall review
the request and respond within thirty (30) calendar days from the date the
request was received by the CITY. The DEVELOPER shall provide the
CITY with information and documents reasonably requested by the CITY
regarding the DEVELOPER’S request. Each calendar day between the
time of the CITY'S request for information and documents, and the
DEVELOPER providing the information and documents, shall extend the
thirty (30) calendar day period for the CITY'S response by an equal
number of calendar days. If the CITY does not respond within thirty (30)
calendar days from the date the request was received by the CITY, or
such greater number of calendar days as extended due to days passing
before DEVELOPER has provided the CITY the requested information
and documents, the CITY’S prior written consent shall not be needed with
regard to the Occupant set forth in the DEVELOPER’S request; and
Notwithstanding any provision in this Agreement to the contrary, if the
DEVELOPER fails to meet any of its obligations in Sections 2.A., 2.B. or 2.D. of
this Agreement, the Agreement shall be terminated and be null and void.
A.
427987_7
REAL ESTATE TAX ABATEMENT.
Subject to the DEVELOPER, on the Subject Property, being in. full
compliance with Section 2. above and Section 4.4. below, the UNITS OF
GOVERNMENT shall provide the DEVELOPER with the Tax Abatement
pursuant to the Abatement Law, relative to the real estate taxes assessed
against the Subject Property, including the Project located thereon, with
said Tax Abatement being:
1. For a maximum of ten (10) years, beginning with the real estate
taxes levied on the Subject Property, including the Project located
thereon, for the full calendar year after the calendar year in which
the Commencement Date occurs, which real estate taxes are
payable in the year thereafter, even if the full amount referenced in
Subsection 3.A.2. below has not been abated;
2. Limited to a total cumulative amount from the UNITS OF
GOVERNMENT combined of Four Million and No/100 Dollars

===== PDF PAGE 16 =====
[Extraction: OCR (rendered-page OCR)]
427987_7
($4,000,000.00), even if the Tax Abatement has not occurred for the
full ten (10) year period referenced in Subsection 3.A.1. above;
3: Limited to Forty Percent (40%) of the real estate taxes to be
received by the UNITS OF GOVERNMENT from the Subject
Property, including the Project located thereon, exclusive of real
estate taxes received to satisfy any debt service tax levy of general
applicability to all property within any one or more of the respective
UNITS OF GOVERNMENT, in any given year; and
4. Limited by excluding amounts levied by each of the UNITS OF
GOVERNMENT for debt service, and as limited by the Abatement
Law, and any amendments thereto after the Effective Date.
Within sixty (60) days of the Commencement Date, each of the UNITS OF
GOVERNMENT shall adopt the ordinance, or resolution, attached hereto
as EXHIBIT _D and made a part hereof (“Abatement Ordinance /
Resolution”), and send a certified copy of the Abatement Ordinance /
Resolution to the DuPage County Clerk (“Clerk”), with such changes to the
Abatement Ordinance / Resolution being made to tailor the Abatement
Ordinance / Resolution to the specific ordinance, or resolution, form
requirements of each of the UNITS OF GOVERNMENT, and after updating
the current P.I.N.s and legal description(s) for the Subject Property,
including the Project located thereon, if any. The Parties acknowledge that
under the Abatement Law, the Clerk administers the Tax Abatement. The
Parties acknowledge that as of the Effective Date, the process for
administering the Tax Abatement is as described in EXHIBIT E, attached
hereto and made a part hereof, and that the process described in EXHIBIT
E may change after the Effective Date. If the process for administering the
Tax Abatement as described in EXHIBIT E is changed after the Effective

===== PDF PAGE 17 =====
[Extraction: OCR (rendered-page OCR)]
B.
427987_7
Date, the Parties shall update EXHIBIT E to reflect the new process, which
update may occur upon agreement of the chief administrative officers of
each of the UNITS OF GOVERNMENT and the DEVELOPER. The Parties
shall cooperate with one another, and the Clerk, in administering the Tax
Abatement. Upon a reasonable request of the Clerk, or any other Party, the
Parties shall timely respond to requests for information and documents
related to the Tax Abatement, and the Parties shall take all reasonable
steps in a timely manner needed to administer the Tax Abatement
consistent with the terms of this Agreement.
During the term of this Agreement, if the building to be built as part of the
Project is vacant for more than one hundred eighty (180) days, or if the
DEVELOPER breaches any of its obligations under Section 4.A., the
UNITS OF GOVERNMENT shall provide written notice of such cessation
(a “Default Notice”) to the DEVELOPER. If the DEVELOPER does not
recommence operation of the Project within thirty (30) days of the
DEVELOPER'S receipt of a Default Notice, or if the DEVELOPER does
not cure the breach of its obligations under Section 4.A.within thirty (30)
days of the DEVELOPER'S receipt of a Default Notice, then the UNITS
OF GOVERNMENT may elect, by written notice to the DEVELOPER
delivered following such thirty (30) day period, to terminate this
Agreement (hereinafter, a “Termination”), whereupon the DEVELOPER
shall reimburse the UNITS OF GOVERNMENT the Tax Abatement as
follows:

===== PDF PAGE 18 =====
[Extraction: OCR (rendered-page OCR)]
1, If a Termination occurs within seven (7) years from the
Commencement Date, the DEVELOPER shall pay each of the
UNITS OF GOVERNMENT its pro rata amount of Seventy-Five
Percent (75%) of the Tax Abatement realized by the DEVELOPER;
or
2. If a Termination occurs after seven (7) years from the
Commencement Date, the DEVELOPER shall pay each of the
UNITS OF GOVERNMENT its pro rata amount of Fifty Percent
(50%) of the Tax Abatement realized by the DEVELOPER only
with respect to the year in which the default (that is the subject of
the Default Notice) occurred.
The DEVELOPER’S reimbursement obligations herein shall survive, and
be binding upon the DEVELOPER, regardless of the termination or
expiration of this Agreement, until fifteen (15) years after the
Commencement Date. The DEVELOPER shall reimburse the UNITS OF
GOVERNMENT within thirty (30) days of a written demand from the
UNITS OF GOVERNMENT for such reimbursement.
4. REAL ESTATE TAX OBLIGATIONS OF THE DEVELOPER.
A.
427987_7
The DEVELOPER agrees to pay, or cause to be paid, all general and
special real estate taxes levied against its respective interest in the
Subject Property, including the Project located thereon, on or prior to the
date same is due, and said real estate taxes shall not become delinquent.
The DEVELOPER shall deliver evidence of payment of such real estate
taxes to the UNITS OF GOVERNMENT upon request.
The DEVELOPER agrees:
(1) to not, and to not permit or allow any of its affiliates or employees,
to challenge, contest, or seek a reduction in, or assert tax-exempt
status in relation to, the real estate taxes assessed against the
Subject Property, including the Project located thereon, below the
Anticipated Assessed Values, as shown on EXHIBIT C;
(2) to prohibit any third party obligated to pay the real estate taxes, in
whole or in part, assessed against the Subject Property, including
the Project located thereon, or any portion thereof, from
challenging, contesting, seeking a reduction in or asserting tax-

===== PDF PAGE 19 =====
[Extraction: OCR (rendered-page OCR)]
exempt status in relation to the real estate taxes assessed against
the Subject Property, including the Project located thereon, below
the Anticipated Assessed Values, as shown on EXHIBIT C; and
(3) to not file, participate in, or allow any of its affiliates or employees to
file or participate in a tax rate objection, contest or other challenge
to the taxes and/or levies of the taxing districts authorized by law to
levy property taxes against the Subject Property, including the
Project located thereon, below the Anticipated Assessed Values, as
shown on EXHIBIT C.
& The sole remedy to each of the UNITS OF GOVERNMENT, in the event
of a breach by DEVELOPER of its obligations in Subsection 4.B. above,
shall be for the DEVELOPER to pay to each of the UNITS OF
GOVERNMENT, on an annual basis, the difference between (1) the actual
real estate taxes payable with respect to the Subject Property, including
the Project located thereon, resulting from any such successful challenge,
contest, or reduction of or exemption from real estate taxes assessed
against the Subject Property, including the Project located thereon, below
the Anticipated Assessed Values, as shown on EXHIBIT C, and (2) the
lesser of (a) the amount of real estate taxes that would have been due and
owing on the Subject Property, including the Project located thereon, for
such year, after the Tax Abatement for such year, had such successful
challenge contest, or reduction of or exemption from real estate taxes
assessed against the Subject Property not occurred, and (b) the amount
of real estate taxes that would have been due and owing on the
Anticipated Assessed Values for such year, after the Tax Abatement for
such year (said deficiency shall herein be referred to as the “Tax
Deficiency”) plus interest thereon at the prime rate charged by BMO Harris
Bank, N.A. (or its successor) plus Three Percent (3%) per annum for the
period beginning on the date the real estate taxes are received by each of
the UNITS OF GOVERNMENT for any given year and ending on the date
the Tax Deficiency is paid to each of the UNITS OF GOVERNMENT,
which shall be due within thirty (30) days of written notice from any one (1)
of the UNITS OF GOVERNMENT, in each year until fifteen (15) years
after the Commencement Date. This Section 4.C. shall survive the
termination of this Agreement.
D. The DEVELOPER agrees to not pursue, permit or allow any of its affiliates
or employees to agree to, pursue or permit the disconnection or
detachment of the Subject Property from any of the UNITS OF
GOVERNMENT.
5. GENERAL CONDITIONS/REQUIREMENTS.
A. This Agreement is entered into for the benefit of each of the Parties and
427987_7 9

===== PDF PAGE 20 =====
[Extraction: OCR (rendered-page OCR)]
427987_7
future owners of the Subject Property, solely, and not for the benefit of any
other third party.
Nothing contained in this Agreement shall constitute a waiver of any
privileges, defenses or immunities which the UNITS OF GOVERNMENT
may have under the Illinois Local Governmental and Governmental
Employees Tort Immunity Act, 745 ILCS 10/1-101, et seq., with respect to
any claim brought by a third party.
The benefits and obligations of the DEVELOPER shall constitute
covenants running with the land legally described in Exhibit A-1 and shall
be binding on successors and assigns of the DEVELOPER and shall inure
to the benefit of, and bind, all then current owners of the Subject Property,
including the Project located thereon, or any portion thereof.
This Agreement shall be recorded on title to the Subject Property at the
expense of the DEVELOPER upon taking effect.
Upon a breach of this Agreement by DEVELOPER, any of the UNITS OF
GOVERNMENT may repeal their respective Abatement Ordinance /
Resolution, and any Party, by an action or proceeding solely in equity
brought in the 18th Judicial Circuit Court, in DuPage County, Illinois, and
may secure the specific performance of the covenants and agreements
herein contained, for failure of performance.
In the event of a default by any of the Parties, the defaulting Party, as
adjudicated by a court of competent jurisdiction, shall pay to the non-
defaulting Party / Parties, upon demand, all of the non-defaulting Party's /
Parties’ reasonable costs, charges and expenses, including, but not
limited to, the costs of accountants, consultants, attorneys and others
retained by the non-defaulting Party / Parties for the purpose of enforcing
any of the obligations of the defaulting Party under this Agreement.
The failure of any Party to insist upon the strict and prompt performance of
the terms, covenants, agreements and conditions herein contained, or any
of them, by any other Party, shall not constitute or be construed as a
waiver or relinquishment of any Party's right thereafter to enforce any such
term, covenant, agreement or condition, but the same shall continue in full
force and effect.
If the performance by any Party hereunder is delayed as a result of
circumstances which are beyond the reasonable control of such Party
(which circumstances shall only include acts of God, war, strikes or similar
acts of force majeure), the time for such performance shall be extended by
the amount of time of such delay.
10

===== PDF PAGE 21 =====
[Extraction: OCR (rendered-page OCR)]
427987_7
This Agreement shall remain in full force and effect for fifteen (15) years
after the Commencement Date.
In the event that any UNIT OF GOVERNMENT’S authority under the
Abatement Law to carry out its obligation in this Agreement is repealed,
becomes null and void or otherwise becomes invalid, then (i) such
UNIT OF GOVERNMENT’S obligations hereunder shall cease and no
further obligations of any sort shall be required of the UNIT OF
GOVERNMENT, and (ii) the DEVELOPER'S obligations to such UNIT OF
GOVERNMENT hereunder (including, without limitation, DEVELOPER’S
obligations to such UNIT OF GOVERNMENT under Section 3.B.) shall
cease as of the date on which any such UNIT OF GOVERNMENT’S
authority under the Abatement Law to carry out its obligation in this
Agreement is repealed, becomes null and void or otherwise becomes
invalid. The DEVELOPER shall have no recourse against the affected
UNIT OF GOVERNMENT(s) in such event and such affected UNIT(s) OF
GOVERNMENT shall have no recourse against the DEVELOPER.
No amendment to, or modification of, this Agreement shall be effective
unless and until it is in writing and approved by the authorized
representative of the DEVELOPER and by each of the UNITS OF
GOVERNMENT'S corporate authorities, and executed and delivered by
the authorized representatives of each Party.
If, during the term of this Agreement, any lawsuits or other proceedings
are filed or initiated against any Party before any court, commission,
board, bureau, agency, unit of government or sub-unit thereof, arbitrator,
or other instrumentality, that may materially affect or inhibit the ability of
any Party to perform its obligations under, or otherwise to comply with, this
Agreement (“Litigation”), the Party against which the Litigation is filed or
initiated shall promptly deliver a copy of the complaint or charge related
thereto to the other Parties and shall thereafter keep the other Parties fully
informed concerning all aspects of the Litigation. Each Party shall, to the
extent necessary, cooperate with the other Parties in this event. The
Parties each agree to use their respective best efforts to defend the
validity of this Agreement and the Abatement Ordinances / Resolutions
adopted pursuant to this Agreement, including every portion thereof and
every approval given, and every action taken, pursuant thereto.
The DEVELOPER shall and hereby agrees to defend, hold harmless and
indemnify the UNITS OF GOVERNMENT, and their respective elected
Officials, appointed officials, employees, agents and attorneys (collectively
the “UNITS OF GOVERNMENT Affiliates”) from and against any and all
third-party claims, demands, suits, damages, liabilities, losses, expenses,
and judgments against any UNITS OF GOVERNMENT Affiliates resulting
from the DEVELOPER'S breach of its obligations hereunder. The
11

===== PDF PAGE 22 =====
[Extraction: OCR (rendered-page OCR)]
obligation of the DEVELOPER in this regard shall include, but shall not be
limited, to all costs and expenses, including reasonable attorneys’ fees,
incurred by the UNITS OF GOVERNMENT Affiliates in responding to,
defending against, or settling any such claims, demands, suits, damages,
liabilities, losses, expenses or judgments. The DEVELOPER covenants
that it will reimburse the UNITS OF GOVERNMENT Affiliates, or pay over
to the UNITS OF GOVERNMENT Affiliates, all sums of money the UNITS
OF GOVERNMENT Affiliates pays, or becomes liable to pay to any such
third party, by reason of any of the foregoing; provided, however, that the
DEVELOPER’ liability under this Section 5.M. shall be limited to the total
amount of Tax Abatement that the DEVELOPER has been received
pursuant to this Agreement as of the date of any such claim, demand, suit,
damage, liability, loss, expense, or judgment. In any suit or proceeding
brought hereunder, the UNITS OF GOVERNMENT Affiliates shall have
the right to appoint counsel of their own choosing to represent it, the
reasonable costs and expenses of which shall be paid by the
DEVELOPER.
The DEVELOPER shall maintain the Subject Property, and operate the
Project, in compliance with all Federal, State, County, and UNITS OF
GOVERNMENT laws, ordinances, resolutions, rules and regulations.
NOTICES. Notice or other writings which any Party is required to, or may wish
to, serve upon any other Party in connection with this Agreement shall be in
writing and shall be delivered personally or sent by registered or certified mail,
return receipt requested, postage prepaid, addressed as follows:
427987_7
A. If to the CITY:
B. If to the LIBRARY:
City of West Chicago
475 Main Street
West Chicago, Illinois 60185
Attn Mayor
With copies to:
City of West Chicago
475 Main Street
West Chicago, Illinois 60185
Attn: City Administrator
Bond, Dickson & Associates
400 Knoll Street
Wheaton, Illinois 60187
12
West Chicago Library District
118 West Washington Street
West Chicago, Illinois 60185
Attn: President
With copies to:
West Chicago Library District
118 West Washington Street
West Chicago, Illinois 60185
Attn: Executive Director
Peregrine, Stime, Newman,
Ritzman, & Bruckner, Ltd.
221 East Illinois Street

===== PDF PAGE 23 =====
[Extraction: OCR (rendered-page OCR)]
427987_7
Attn: Patrick Bond
C. If to the ELEMENTARY SCHOOL
DISTRICT:
West Chicago Elementary
School District 33
312 East Forest Avenue
West Chicago, Illinois 60185
Attn President
With copies to:
West Chicago Elementary
School District 33
312 East Forest Avenue
West Chicago, Illinois 60185
Attn Superintendent
Robbins Schwartz
55 W. Monroe Street, Suite 800
Chicago, Illinois 60603
Attn: Kenneth M. Florey
E. If to the DUPAGE AIRPORT
AUTHORITY:
DuPage Airport Authority
2700 International Drive, Suite 200
West Chicago, Illinois 60185
Attn: Chairman
With copies to
DuPage Airport Authority
2700 International Drive, Suite 200
West Chicago, Illinois 60185
Attn: Executive Director
Schirott, Luetkehans & Garner, LLC
105 E. Irving Park Rd.
Itasca, Illinois 60143
Attn: Phillip A. Luetkehans
13
Wheaton, Illinois 60187
Attn: Mark Ritzman
D. If to the HIGH SCHOOL
DISTRICT:
Community High School
District 94
157 West Washington Street
West Chicago, Illinois 60185
Attn: President
With copies to:
Community High School
District 94
157 West Washington Street
West Chicago, Illinois 60185
Attn: Superintendent
Hauser, Izzo, Petrarca, Gleason
& Stillman, LLC
19730 Governors Hwy, Suite 10
Flossmor, Illinois 60422
Attn: John Izzo
F. If to the DEVELOPER:
MIF 2525 Enterprise (West
Chicago), LLC
1211 West 22" Street, Suite 410
Oak, Brook, IL 60523
Attn: Justin P. Fierz
With a copy to:
Ginsberg Jacobs LLC
300 S. Wacker Drive, Suite 2750
Chicago, Illinois 60606
Attn: Brian J. Pleviak

===== PDF PAGE 24 =====
[Extraction: OCR (rendered-page OCR)]
G. If to the FIRE PROTECTION
DISTRICT:
West Chicago Fire Protection District
200 Freemont Street
West Chicago, Illinois 60185
Attn: President
With copies to:
West Chicago Fire Protection District
200 Freemont Street
West Chicago, Illinois 60185
Attn: Fire Chief
Ottosen Britz Kelly Cooper Gilbert
& DiNolfo, Ltd.
1804 N. Naper Boulevard #350
Naperville, Illinois 60563
Attn: Joseph Miller
or to such other address, or additional individuals/entities, as any Party may from
time to time designate in a written notice to the other Parties. Service by personal
delivery shall be deemed given when delivery occurs, and service by certified or
registered mail shall be deemed given three (3) days after depositing same in the
mail.
ti COUNTERPARTS. This Agreement may be executed simultaneously in up to
seven (7) counterparts, each of which shall be deemed an original, but all of
which shall constitute one and the same Agreement.
8. ENTIRE AGREEMENT. This Agreement contains the entire understanding
between the Parties and supersedes any prior understanding or written or oral
agreements between them regarding the within subject matter. There are no
representations, agreements, arrangements or understandings, oral or written,
between and among the Parties hereto relating to the subject matter of this
427987_7 14

===== PDF PAGE 25 =====
[Extraction: OCR (rendered-page OCR)]
Agreement which are not fully expressed herein.
9. EFFECTIVE DATE. This Agreement shall be deemed dated and become
effective on the date the last of the Parties executes this Agreement as set forth
below, which date shall be filled in on page 1 hereof.
IN WITNESS WHEREOF, the CITY, pursuant to authority granted by the
adoption of a Motion/Resolution by its City Council, has caused this Agreement to be
executed by its Mayor and attested by its Clerk; the AIRPORT, pursuant to authority
granted by the adoption of a Motion/Resolution by its Board of Commissioners, has
caused this Agreement to be signed by its Chairman and attested by its Secretary; the
LIBRARY, pursuant to the authority granted by the adoption of a Motion/Resolution by
its Board of Trustees, has caused this Agreement to be signed by its President and
attested by its Secretary; the FIRE PROTECTION DISTRICT, pursuant to the authority
granted by the adoption of a Motion/Resolution by its Board of Trustees, has caused
this Agreement to be signed by its President and attested by its Secretary; the
ELEMENTARY SCHOOL DISTRICT, pursuant to the authority granted by the adoption
of a Motion/Resolution by its Board of Education, has caused this Agreement to be
signed by its President and attested by its Secretary; the HIGH SCHOOL DISTRICT,
pursuant to the authority granted by the adoption of a Motion/Resolution by its Board of
Education, has caused this Agreement to be signed by its President and attested by its
Secretary; and DEVELOPER, pursuant to proper authority granted in accordance with
its organizational documents, has caused this Agreement to be executed by its
manager and attested by its
427987_7 15

===== PDF PAGE 26 =====
[Extraction: OCR (rendered-page OCR)]
CITY OF WEST CHICAGO
WEST CHICAGO PUBLIC LIBRARY
DISTRICT
By: By:
, Mayor , President
ATTEST: ATTEST:
, City Clerk , Secretary
Dated: Dated:
WEST CHICAGO ELEMENTARY WEST CHICAGO COMMUNITY HIGH
SCHOOL DISTRICT 33 SCHOOL DISTRICT 94
By: By:
, President , President
ATTEST: ATTEST:
, Secretary , Secretary
Dated: Dated:
DUPAGE AIRPORT AUTHORITY MIF 2525 ENTERPRISE (WEST
CHICAGO)
By: By:
, Chairman , Manager
ATTEST: ATTEST:
, Secretary ,
Dated: Dated:
427987_7
16

===== PDF PAGE 27 =====
[Extraction: OCR (rendered-page OCR)]
WEST CHICAGO FIRE PROTECTION
DISTRICT
By:
, Chairman
ATTEST:
, Secretary
Dated:
427987_7 17

===== PDF PAGE 28 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS )
) SS
COUNTY OF DUPAGE _)
I, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and ;
personally known to me to be the Mayor and City Clerk of the City of West Chicago, and
also known to me to be the same persons whose names are subscribed to the
foregoing instrument as such Mayor and City Clerk, respectively, appeared before me
this day in person and severally acknowledged that, as such Mayor and City Clerk, they
signed and delivered the signed instrument, pursuant to authority given by the City of
West Chicago, as their free and voluntary act, and as the free and voluntary act and
deed of said City of West Chicago, for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal, this day of ,
2019.
Notary Public
My Commission Expires:
427987_7 18

===== PDF PAGE 29 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS _ +)
)Ss
COUNTY OF DUPAGE )
I, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and ‘
personally known to me to be the President and Secretary of the West Chicago Public
Library District, and also known to me to be the same persons whose names are
subscribed to the foregoing instrument as such President and Secretary, respectively,
appeared before me this day in person and severally acknowledged that, as such
President and Secretary, they signed and delivered the signed instrument, pursuant to
authority given by the West Chicago Public Library District, as their free and voluntary
act, and as the free and voluntary act and deed of said West Chicago Public Library
District, for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal, this day of '
2019.
Notary Public
My Commission Expires:
427987_7 19

===== PDF PAGE 30 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS _)
)ss
COUNTY OF DUPAGE)
|, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and ‘
personally known to me to be the President and Secretary of the West Chicago Fire
Protection District, and also known to me to be the same persons whose names are
subscribed to the foregoing instrument as such President and Secretary, respectively,
appeared before me this day in person and severally acknowledged that, as such
President and Secretary, they signed and delivered the signed instrument, pursuant to
authority given by the West Chicago Fire Protection District, as their free and voluntary
act, and as the free and voluntary act and deed of said West Chicago Fire Protection
District, for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal, this day of ;
2019.
Notary Public
My Commission Expires:
427987_7 20

===== PDF PAGE 31 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS __)
)Ss
COUNTY OF DUPAGE _ )
I, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and ;
personally known to me to be the President and Secretary of the West Chicago
Elementary School District 33, and also known to me to be the same persons whose
names are subscribed to the foregoing instrument as such President and Secretary,
respectively, appeared before me this day in person and severally acknowledged that,
as such President and Secretary, they signed and delivered the signed instrument,
pursuant to authority given by the West Chicago Elementary School District 33, as their
free and voluntary act, and as the free and voluntary act and deed of said West Chicago
Elementary School District 33, for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal, this day of ,
2019.
Notary Public
My Commission Expires:
427987_7 21

===== PDF PAGE 32 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS )
)Ss
COUNTY OF DUPAGE _ )
I, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and ,
personally known to me to be the President and Secretary of the West Community High
School District 94, and also known to me to be the same persons whose names are
subscribed to the foregoing instrument as such President and Secretary, respectively,
appeared before me this day in person and severally acknowledged that, as such
President and Secretary, they signed and delivered the signed instrument, pursuant to
authority given by the West Chicago Community High School District 94, as their free
and voluntary act, and as the free and voluntary act and deed of said West Chicago
Community High School District 94, for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal, this day of ,
2019.
Notary Public
My Commission Expires:
427987_7 22

===== PDF PAGE 33 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS )
)ss
COUNTY OF DUPAGE _ )
I, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and ,
personally known to me to be the Chairman and Secretary of the DuPage Airport
Authority, and also known to me to be the same persons whose names are subscribed
to the foregoing instrument as such Chairman and Secretary, respectively, appeared
before me this day in person and severally acknowledged that, as such Chairman and
Secretary, they signed and delivered the signed instrument, pursuant to authority given
by the DuPage Airport Authority, as their free and voluntary act, and as the free and
voluntary act and deed of said DuPage Airport Authority, for the uses and purposes
therein set forth.
GIVEN under my hand and Notary Seal, this day of ,
2019.
Notary Public
My Commission Expires:
427987_7 23

===== PDF PAGE 34 =====
[Extraction: OCR (rendered-page OCR)]
STATE OF ILLINOIS )
)ss
COUNTY OF )
I, the undersigned, a Notary Public, in and for the County and State aforesaid,
DO HEREBY CERTIFY that the above-named and .
personally known to me to be the and of ;
and also known to me to be the same persons whose names are subscribed to the
foregoing instrument as such and , respectively,
appeared before me this day in person and severally acknowledged that, as such
and , they signed and delivered the signed instrument,
pursuant to authority given by , as their free and voluntary act, and as
the free and voluntary act and deed of , for the uses and purposes
therein set forth.
GIVEN under my hand and Notary Seal, this day of ,
2019.
Notary Public
My Commission Expires:
427987_7 24

===== PDF PAGE 35 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBIT A-1
Legal Description of Subject Property
(attached)
427987_7 25

===== PDF PAGE 36 =====
[Extraction: OCR (rendered-page OCR)]
92 LL86L2¢
slout|| ‘OBea1yo san ‘aU asiidiojUy ¢zgz :sseuppe UOWWOD
“Nid
“SIONITI
‘ALNNOO A9VdN NI ‘ONINNIDAE JO LNIOd SHL OL L554 Z¢'0Z8 4O JONVLSIG
Vv ‘b LOT GIivS 4O 3ANIT LSSM SHL GNV NOISNSLX3S ATYSHLYON aivs
AHL ONOW LSAM SGNOOAS ZZ SALNNIW 0 SASYODAC 00 HLNOS SONSHL ‘LOT
dIVS 40 ANI LSAM SHL AO NOISNALXS ATYSHLYON SHL HLIM NOILOASYHSLNI
SLI OL ‘L454 vr'l82 ANI HLNOS dIVS SNOW LSVA SGNOOZS se SALNNIW
vy SAAYOAC 68 HLNOS SONSHL ‘(LZ AVMHOIH ALNNOOD 3OVdNG GNV avoY
NOLYVE VV) AVMNYVd NVASV4 4O ANIT AVM 4O LHSINY HLNOS SHL NO
LNIOd WV OL ‘L354 87992 ‘NOILOAS YALYVNO LSAMHLNOS GIVS 4O SANIT LSSM
AHL ONOTW LSVA SGNOOAS 92 SALNNIW 61 SSSYODAG 00 HLYON FONSHL
‘v861 ‘OL YSEWALdAS GACGHOOSY S¢-’8-S GHOOSY LNSWNNOW Yad NOILOAS
IVS JO YANHOO LSAMHLYON SHL OL L554 78°66S) YALYVNO LSAMHLYON
dIvS 40 ANIT LSAM AHL SNOW LSSM SAGNOO3S ZS SALNNIW ZO SSSNOSaG
00 HLYON SONAHL :L5354 S099 ‘YALYVND LSAMHLYON GIVS JO ANIT LSSM
FHL OL YWINOIGNAdYAd LSAM SGNOOFS COSALNNIW ZS SSAYNOSAC 68 HLNOS
SONSHL «L544 6€'v8 LSAM SGNOOAS 62 SALNNIW 91 SASNOIG €€ HLNOS
AONFHL ‘LNIOd V OL L344 06'6vE LSVA SGNOOAS 80 SSLNNIW 00 SaayuOSa
2@ HLNOS SYVAd GHOHD ASOHM ANV L334 00°S8€ AO SNIGVY V ONIAVH L431
AHL OL ATONID LNAONVL V SO OV SHL ONOW LASS 22898 ATYALSVAHLNOS
FONSHL ‘AUNLVAYND JO LNIOd OL L554 LL'0S% LSAM SGNOOAS 62 SALNNIW
LO SHSYOAC 00 HLNOS ADNSHL ‘AONSONVL AO LNIOd V OL L534 6r'9er
1SSM SGNOOAS 0€ SALNNIW €€ SASYOAC ve HLNOS SYVAE GYOHO ASOHM
ONV L334 00°S8€ AO SNIGVY V ONIAVH SO 1457 SHL OL ATOUIO LNSDNVL-NON
V dO OV AHL ONOW LAA4 60'-9F ATHSLSAMHLNOS AJONSHL (1 ‘SHSYNOD
€ LXAN SHL YOS FIONIO ASINdYSALNA CIVS 4O SANIT LSSAM GNV HLYON
AHL SNOW HLNOS GNV ATYSALSAMHLNOS SONSHL ‘9E6LEL-2007Y LNAWNOOG
SV 2002 ‘ZL AINf GAGHOOSY LV1d SHL OL ONIGHODOV ‘SIONIO ASINdYSALNA
dO ANI] ATHALSAMHLYON SHL NO LNIOd V ONISE OST ‘Z6S121-900z4
YAEWNN LNAWNDSOd SV 9002 ‘S$ YAEWSALdaS GHGNOOSY AOSYSHL LV1d
AHL OL ONIGHODOV ‘| LOT LW1d LNSWSSASSV HLNOS LYWd ADOTONHOAL
TWNOILVN SDVdNd 4O YANYOO LSOW ATYSLSAMHLNOS SHL LV ONINNIDZA
‘SMOTIOS SV GAEINOSAC NVICINAW TWdlONIdd GYIHL SHL 4O LSVA
6 FONVY ‘HLYON 6 dIHSNMOL ‘81 NOILOAS 4O YSLYWND LSSMHLYON SHL
dO LuVd LVHL GNV Z OILOAS AO YALYVNOD LSSAMHLNOS SHL SO LYWd LVHL
‘uonduosegq jebe7

===== PDF PAGE 37 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBIT A-2
Depiction of Subject Property
(attached)
427987_7 27

===== PDF PAGE 38 =====
[Extraction: OCR (rendered-page OCR)]
ma ; SS
~ 2 1 4 L Pa 6 a .
Bo «3 «of fe 3 : Te)
1. 3 geese i Nand a. re Pa eee 4
jos : | = “a me 1a 5 i: i TT
| 2S q j Fa By PH Fa u fry)
|5e08 =| | Bi Ns2 - - -s & af Wi
jRees W fJosu | ai f/\ne at af | e z | il
| Es ! 3 f z | roi ga | f: ae “ie nf it
lag2a ea OR) i eee i 2 | : :
|SQpe 1 i yf | | |p Ba, | | ais | af i | ds! :
| 2_ x SS | j lh be i | re 15 a ae
|\2xr2z oe ce. | | | | tigget | | re \§ rl op #1!
|REG# fe MELT Ne | agp t | Hi | fer LE ore tLe
> 5 | Ton fe | | | | HER RR | Gi | | if Me is be bo
2O7~ e ape A “| i ere are . it | 2 lis 2 581 2 ir Bis
ge am PE ey ft a Die ate ree nll
le i -POO Agi Le RG) GER POG RGR HSER Po BH a
|} Dea . : wo ‘ *Fhe aw.
i RIE : : ian the aE 1 | fo 5 “# ieihees. ai F uo
| ne | : EN. “4 3 epee
1 nn a - Mt | -
| BE: AF ME \ 7 Agere ot f .
i i | 4 fn Fi aac ete niett: : _ 2 pete
i rd | & PEN. j 0 ayes ‘ i = £7 |
ge SEGF | 5 ‘ ~ ? ee |
HE | . PS Eee a
ai i Us Wiirvaw a ?
He : aa ‘a Be af 3
z, I | ei Ba Jk x /
Sd paki)! : : 3 , # <= sO
a 4 i | cH / ft y a /a79 Lf dy /
i F ee i / i et | s fo ’ Z :
| 7 i . ! 1 an aa ey :
| f fitz le aaa ay fo fof ffs
| = yi lieei Rin a To 5 fo a j |
| & Hi ale Mn) aa ff |
5 ele ty ; AR OY a 4
oe oe JMNKS 6 LANA
2 ee in: i, oy? |
ar z | ae : : |. . i 2
fi ee a a : FA z eat 3 ra fv ob, -
NE es BEE Ne g RY a ‘A
| eN.. | eRe. |. be st | ok eg een FE
li eB Mee | PBbae Pao E |e RP bey ny if * op : ail
j i e Sy 2 Ei
EOE | J

===== PDF PAGE 39 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBITB-1
Project Site Plan
(attached)
427987_7
29

===== PDF PAGE 40 =====
[Extraction: OCR (rendered-page OCR)]
———— FABYAN——-——— PARKWAY ———— - ——————-
0 _ | ‘
1 i a onioemencas |p SSS 8
| a TTTTITU TPT is |!
i] | (103) CAR PARKING em ' '
| pe ea : el eee eee ey or
le LEU Tl gl
] at OasE Ete ae |
ee
| ==? = I
are {fox —J
er Fa tt et tT Re fl
oe Feet 2 lk tT Va
= “Hs a aertt
i ome [sso | @ lolz | so cf |
WE Beet Bee)? beta
ef —H coo |] ee Ba Biisene
a CCCLe® =o |
— Coicce 8a !
-—H Coco 27h 2
-—r Cos ee asf Sho
i—7 Corr Saezin a
mee eT et
Sa —H co Crise eo
=f SRST BEBE: el Ee
; eo CTT e mm: ie
eee = AEE - cn
ed Corey frrr
‘et HHH tty
an annB: in a 2277 !
ee Hee) De ge
(Fen Crh ope ECL
Bee HEH an Toy
a ce
eH CCLLES Olm| | ao TTT]
2 = | — WI
1 ;_H TH} qi
oe |
| Fi | | lel [TT Le '
Mh Lt | gle | Ler ys
ene a: a cm “
ih Ses 5 TT Vie mine
jl gee (107) CAR PARKING ° ’
li He . = KZ
gee [i 842: aa WOE TRUCK ACCESS —T7
ot oe
RE I 26-6" WIDE TRUCK ACCESS
eet, Se! — 7

===== PDF PAGE 41 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBITB-2
Project Description
(attached)
427987_7
31

===== PDF PAGE 42 =====
[Extraction: OCR (rendered-page OCR)]
The Subject Property is an approximately eighteen (18) acre parcel in the DuPage
Business Park. The Project will be developed by the Developer on the Subject Property
as a building of approximately three hundred three thousand (303,000) square feet, and
related improvements, as depicted in EXHIBIT B-1. The Project will include Skyjack as
an initial tenant of approximately one hundred thousand (100,000) square feet of space
in the building to be built as part of the Project, which space within the building shall be
used as Skyjack’s United States headquarters.
Skyjack is anticipated to bring between eighty (80) and ninety (90) new full-time jobs
with an average wage of Sixty-Six Thousand and No/100 Dollars ($66,000.00). The
proposed jobs to be located on the Subject Property from Skyjack include the following:
Customer Service 8
Executive 2
Finance/Accounting 13
IT/Analyst 3
Management/Supervision 13
Purchasing/Inventory Management 9
Sales 3
Technical Service Support 9
Warehouse 30
Total Jobs 80-90
provided, however, whether or not Skyjack is a tenant at the Subject Property,
DEVELOPER shall be in compliance with the employment requirements of this EXHIBIT
B-2 if the Project employs at least thirty-five (35) full-time jobs.
427987_7 32

===== PDF PAGE 43 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBIT C
Anticipated Assessed Values
Anticipated
Assessed
Year Valuation
Year 1 $3,732,960
Year 2 $3,732,960
Year 3 $4,040,676
Year 4 $4,040,676
Year 5 $4,040,676
Year 6 $4,040,676
Year 7 $4,373,758
Year 8 $4,373,758
Year 9 $4,373,758
Year 10 $4,373,758
Year 11 $4,723,654
Year 12 $4,723,654
Year 13 $4,723,654
Year 14 $4,723,654
Year 15 $5,101,551
427987_1 33

===== PDF PAGE 44 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBITD
AbatementOrdinance/Resolution
(attached)
427987_7

===== PDF PAGE 45 =====
[Extraction: OCR (rendered-page OCR)]
[ORDINANCE / RESOLUTION] PROVIDING FOR REAL ESTATE TAX ABATEMENT
WHEREAS, the Illinois Property Tax Code, 35 ILCS 200/18-165, authorizes any
taxing district to abate its taxes in relation to a specific property; and
WHEREAS, in “An Intergovernmental Agreement Between the City of West
Chicago, DuPage Airport Authority, West Chicago Library District, West Chicago Fire
Protection District, West Chicago Elementary School District 33, Community High
School District 94 and MIF 2525 Enterprise (West Chicago), LLC in Regard to a
Property Tax Abatement Relative to the Development of the Midwest Industrial Funds
Property,” dated __, 2019 (“IGA”), the [City Council / Board of Trustees /
Board of Commissioners / Board of Education] of the [Unit of Government] previously
determined it to be in its best interests to abate a portion of its taxes on the real estate
legally described in Exhibit 1, attached hereto and made a part hereof (“Subject
Property’), in order to encourage a commercial firm to redevelop the Subject Property;
and
WHEREAS, the conditions of the IGA for the abatement of a portion of the taxes
on the Subject Property have been met; and
WHEREAS, in the IGA, this [City Council / Board of Trustees / Board of
Commissioners / Board of Education] previously determined such abatement of taxes to
be in the best interests of its tax payers in order to encourage a commercial firm to
redevelop the Subject Property, increase the tax base, and increase employment
opportunities; and
NOW, THEREFORE, BE IT [ORDAINED / RESOLVED] [by the [Mayor /
Chairman / President] and [City Council / Board of Trustees / Board of Commissioners /
Board of Education] of the [Unit of Government], DuPage County, Illinois, as follows:
Section 1. This [City Council / Board of Trustees / Board of Commissioners /
Board of Education] hereby finds that all of the recitals contained in the preambles to
this [Ordinance / Resolution] are full, true and correct and does now incorporate the
same herein by reference.
Section 2. The County Clerk of DuPage County, Illinois is hereby ordered to
abate the real estate taxes to be extended on the Subject Property, on behalf of the
[Unit of Government] according to the rate set forth in Section 3 below, but excluding
any levy or levies for debt service (“Abatement Rate”), commencing at the start of the
next calendar year after the year in which this [Ordinance / Resolution] is passed.
However, in no event shall the aggregate abatement of real estate taxes levied against
the Subject Property by the [Unit of Government], together with real estate taxes levied
against the Subject Property and abated in previous and future years by all other taxing
districts, exceed the total of Four Million and No/100 Dollars ($4,000,000.00).
427987_7 35

===== PDF PAGE 46 =====
[Extraction: OCR (rendered-page OCR)]
Section 3. The Abatement Rate shall be Forty Percent (40%) of the real estate
taxes to be extended on the Subject Property on behalf of the [Unit of Government].
Section 4. The [Mayor / Chairman / President] and [Clerk / Secretary] of this
[Unit of Government] are hereby authorized and directed to execute this [Ordinance /
Resolution] and cause a certified copy of the same to be filed with the County Clerk of
DuPage County, Illinois.
Section 5. This [Ordinance / Resolution] shall be in full force and effect upon its
adoption and publication.
PASSED this day of , 20__ by a majority
vote of the Corporate Authorities of the [Unit of Government] on a roll call vote as
follows:
AYES:
NAYS:
ABSENT:
APPROVED by the [Mayor / Chairman / President] of the [Unit of Government]
on the day of ,20_.
[Mayor / Chairman / President]
ATTEST:
[Clerk / Secretary]
[Published in pamphlet form / Published in the newspaper, being a newspaper
of general circulation within the [Unit of Government] this___ day of ,20__.]
427987_7 36

===== PDF PAGE 47 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBIT 1
LEGAL DESCRIPTION OF THE SUBJECT PROPERTY
(attached)
427987_7 37

===== PDF PAGE 48 =====
[Extraction: OCR (rendered-page OCR)]
[LEGAL DESCRIPTION]
P.I.N.:
Common address: , West Chicago, Illinois
427987_7 38

===== PDF PAGE 49 =====
[Extraction: OCR (rendered-page OCR)]
EXHIBIT E
ABATEMENT PROCESS
Capitalized terms in this EXHIBIT E shall have the meanings as set forth for said terms
in the “Intergovernmental Agreement Between The City Of West Chicago, DuPage
Airport Authority, West Chicago Library District, West Chicago Fire Protection District,
West Chicago Elementary School District 33, Community High School District 94 and
MIF 2525 Enterprise (West Chicago), LLC in Regard to a Property Tax Abatement
Relative to the Development of the Midwest Industrial Funds Property” (“IGA”), unless
otherwise defined in this EXHIBIT E.
As of the Effective Date of the IGA, the process for administering the Tax Abatement is:
1. Within sixty (60) days of the Commencement Date, each UNIT OF
GOVERNMENT shall adopt an Abatement Ordinance / Resolution, and send a certified
copy of its Abatement Ordinance / Resolution to the Clerk.
2. The Clerk shall, at the time the tentative tax rates are prepared for each year’s
property tax levy, send to the chief executive officer of each of the UNITS OF
GOVERNMENT a letter setting forth, with respect to the Tax Abatement, the parcel(s)
affected, the amount of property taxes to be levied, and the amount of the abatement
attributable to each of the UNITS OF GOVERNMENT (“Abatement Letter’).
3. Each of the UNITS OF GOVERNMENT shall, each year, review the Abatement
Letter from the Clerk, note any changes in the information provided, and then sign and
return the Abatement Letter to the Clerk, all within seven (7) days of receipt of the
Abatement Letter.
4. The Clerk shall track and account for the total Tax Abatement paid to the
DEVELOPER.
5. The Clerk shall calculate the property tax levy for each of the UNITS OF
GOVERNMENT taking the Tax Abatement into account, as approved by each of the
UNITS OF GOVERNMENT with regard to its annual Abatement Letter.
6. The Tax Abatement for the Subject Property abated in previous and future years
by all other taxing districts, shall not exceed the total of Four Million and No/100 Dollars
($4,000,000.00).
427987_7 39