HomeMy WebLinkAboutRESOLUTION - 60-24 - 9/10/2024 - 421 CALIFORNIA PARTNERS, LLC MEMO OF UNDERSTANDINGRESOLUTION NO.60-24
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO
EXECUTE A MEMORANDUM OF UNDERSTANDING BETWEEN THE VILLAGE OF
ELK GROVE VILLAGE, IL GROWN MEDICINE, LLC AND 421 CALIFORNIA
PARTNERS, LLC
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows:
Section 1: That the Mayor be and is hereby authorized to sign the attached document
marked:
MEMORANDUM OF UNDERSTANDING
a copy of which is attached hereto and made a part hereof as if fully set forth and the Village
Clerk is authorized to attest said document upon the signature of the Mayor.
Section 2: That this Resolution shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 101h day of September 2024
APPROVED this loth day of September 2024
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Loretta M. Murphy, Village Clerk
NIOU kdicine LLC, 4-11 C €titilrni Pa €;3er
Docusign Envelope ID: 2CA738BB-DE3F-422E-B5E7-106493B37389
MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding ("MOU") is made as of August 31, 2024 ("Effective Date")
between the Village of Elk Grove Village (the "Village"), IL Grown Medicine, LLC ("IGM"), and
421 California Partners, LLC ("CP").
WHEREAS, the Village and IGM are parties to a September 9, 2014 Development and Operating
Agreement — Cultivation Facility, as amended (the "Development Agreement") relating to the
property at 2400-2440 Greenleaf Avenue (the "Property") in the Village;
WHEREAS, as of the Effective Date, IGM owes to the Village a total of $257,152.43 (the "Fees")
under the Development Agreement, as follows:
• Village Cultivator Fee — $182,152.43
Community Contributions:
o Elk Grove Village General Fund— $30,000
o Elk Grove Village Cares Program — $15,000
o Elk Grove Village DARE Program — $15,000
o Kenneth Young Youth Center — $15,000
WHEREAS, CP wishes to take ownership and control of IGM's cultivation operation at the
Property and enter into a Development and Operating Agreement with the Village, and the Village
is willing to enter into a Development and Operating Agreement with CP and issue CP an
occupancy permit, or any other approval required for CP to take possession of the Property and
operate a cannabis cultivation facility at the Property (collectively, the "Occupancy Permit") if the
Fees owed by IGM are paid by CP on behalf of IGM;
NOW, THEREFORE, for good and valuable consideration, and intending to be legally bound,
the parties agree as follows:
1. Upon CP's payment of the Fees to the Village on or before September 27, 2024 (the
"Payment Date"), the Village shall immediately issue the Occupancy Permit to CP, and shall
thereafter enter into a Development and Operating Agreement with CP within fifteen (15) days of
the Payment Date.
2. IGM and CP shall agree separately on the reimbursement of the Fees among
themselves, as may be set forth in a separate agreement between IGM and CP.
3. If payment of the Fees to the Village is not made on or before the Payment Date, CP
will not have the right of occupancy to the Property until such time as the payment of Fees is made,
and the Village may commence any and all enforcement rights, solely against IGM and not against
CP, for the payment of all amounts due and owing to the Village.
[signature page follows]
Docusign Envelope ID: 2CA738BB-DE3F-422E-B5E7-106493B37389
Wherefore, theKrtiesfiave signed this Memorandum of Understanding as of the Effective Date.
Village opp.lk G,dve ge %By:'%
a,Medicine, LLC
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By: rd9 U ewIhutTitle: NE K Title: Authorized Signatory
adifavnia Partners, LLC
C,IA.Y'tS t.V'
By: Chris Mayer
Title: President
[signature page to August 31, 2024 Memorandum of Understanding]