HomeMy WebLinkAboutRESOLUTION - 50-24 - 9/10/2024 - NU-WAY INDUSTRIES, INC, 2301 LUNT, REDEVELOPMENT AGREEMENTRESOLUTION NO. 50-24
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE
A REDEVELOPMENT AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE
VILLAGE AND NU -WAY INDUSTRIES, INC. (BUSSE-ELMHURST TIF — 2301 LUNT
AVE)
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 documents
marked:
REDEVELOPMENT AGREEMENT
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 documents 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 loth 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
REDEVELOPMENT AGREEMENT
THIS EDLLEVELOPMENT AGREEMENT ("Agreement"), is made and entered into as of
the�Q day o ]BNhi , 2024 ("Effective Date"), by and between the Village of Elk Grove
Village, an Illinois home rule municipal corporation located in Cook and DuPage Counties, Illinois
("Village"), and Nu -Way Industries Inc., an Illinois corporation ("Nu -Way"). Nu -Way, together with
the Village, are collectively referred to as the "Parties" and sometimes, individually, a "Party."
RECITALS
A. Pursuant to and in accordance with the Tax Increment Allocation Redevelopment Act,
65 ILLS 5111 - 74.4-1 et seq. ("Act"), in 2014, the Village adopted the Busse/Elmhurst
Redevelopment Plan ("Plan") and created the Busse/Elmhurst Redevelopment Project Area ("TIF
District") to stabilize and expand the Village's tax base.
B. Nu -Way is a family -owned precision fabricating and assembly company that makes
parts/products for other companies primarily from metal. Nu -Way is currently located in two
buildings in Des Plaines with a combined footprint of 292,000 square feet and is seeking to relocate
its headquarters and consolidate these operations into the approximately 260,000 square foot
building located at 2301 Lunt Avenue in Elk Grove Village.
C. Nu -Way will bring 250 full-time equivalent jobs to the Village, including positions
in corporate and support group jobs for engineering, production, quality and technology, as well
as technicians, machine operators, inventory control, and quality inspector positions. Once
completed, Nu -Way expects the new location in Elk Grove Village to enable the addition of 10 —
30 new full-time equivalent positions.
D. Nu -Way has agreed to enter into a lease agreement ("Lease") for property located
within the TIF District, consisting of approximately 260,000 square feet at 2301 Lunt Avenue, Elk
Grove Village, Illinois, which is legally described in Exhibit A attached hereto ("Property"). Nu-
Way's Lease for the Property will be for a period of not less than ten (10) years commencing on or
before October 31, 2024.
E. In order to utilize the Property, Nu -Way must invest significantly to upgrade the
Property's existing improvements (`Renovate") to make the Property suitable for its production
needs. Nu -Way has represented to the Village that the cost to relocate its operations and Renovate the
Property are prohibitive, so the Village has agreed to provide certain assistance to help defray a
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portion of those costs as specifically set forth herein.
F. Nu -Way has represented that but for the Assistance as set forth herein, the Project (as
defined below) will not be financially feasible.
G. The Village is authorized to reimburse Nu -Way for certain Redevelopment Project
Costs, as that term is defined in the Act, as set out in Exhibit B attached hereto ("Eligible Costs").
H. The Village desires to facilitate the Project to attract additional private investment in
the TIF District, ensure the ongoing stability of the Village's taxing base for it and overlapping taxing
districts, all of which will be in the best interests of the Village by furthering the health, safety, and
welfare of its residents and taxpayers.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements herein contained, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties do hereby agree as follows:
I
RECITALS PART OF AGREEMENT
The recitations set forth in the foregoing recitals are material to this Agreement and are hereby
incorporated into and made a part of this Agreement as though they were fully set forth in this
Article I. All exhibits attached to this Agreement are incorporated by this reference.
II
MUTUAL ASSISTANCE
The Parties agree to take such actions, including the execution and delivery of such documents,
instruments, petitions and certifications (and, in the Village's case, the adoption by the Village of
such ordinances and resolutions), as may be reasonably necessary or appropriate, in the judgment of
the Village, to carry out the terms, provisions and intent of this Agreement and to aid and assist each
other in carrying out said terms, provisions and intent.
III
REDEVELOPMENT PROJECT
3.01 Description of the Project.
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Nu -Way hereby agrees that it will enter into the Lease and commence its precision fabricating and
assembly company ("Operations") at the Property pursuant to the Lease on or before October 31,
2024 ("Commencement Date"). Nu -Way will conduct Operations continuously for a period of not
less than ten (10) years beginning on the Commencement Date. The execution of the Lease,
construction of necessary improvements, relocation of its equipment and materials to the Property,
and the commencement of operations thereon are collectively referred to herein as the "Project."
3.02 Project Assistance.
The Village hereby agrees to provide the following assistance ("Assistance") to Nu -Way to defray
the Project's Eligible Costs as set forth in Exhibit B attached hereto. Provided that Nu -Way is in
compliance with the terms and conditions set forth in this Agreement, including, without limitation,
Section 3.03, the Village shall pay the Assistance as follows:
A. Upon the Village's issuance of the Certificate of Occupancy authorizing Nu -
Way to occupy the Property, the Village shall reimburse Nu -Way Two Hundred and Fifty
Thousand Dollars ($250,000) of Eligible Costs;
B. Upon Nu-Way's completion of the exterior improvements detailed in Exhibit D
attached hereto, the Village shall reimburse Nu -Way Seven Hundred and Fifty Thousand
Dollars ($750,000) of Eligible Costs;
C. So long as Nu -Way continuously maintains its Operations in the Property,
upon the 1st anniversary of the issuance of the Certificate of Occupancy for the Property, the
Village shall reimburse Nu -Way an additional Three Hundred Thousand Dollars ($300,000)
in Eligible Costs;
D. So long as Nu -Way continuously maintains its Operations in the Property,
upon the 5th anniversary of the issuance of the Certificate of Occupancy for the Property,
the Village shall reimburse Nu -Way an additional Two Hundred Thousand Dollars
($200,000) in Eligible Costs;
3.03 Village Reimbursement.
Before the Village delivers any Assistance to Nu -Way, Nu -Way shall submit to the Village written
certification in form and substance acceptable to the Village Manager demonstrating that Nu -Way
has previously paid or caused to be paid Eligible Costs in support of the Project ("Reimbursement
Request"). The Reimbursement Request will be accompanied by contractor's sworn statements, lien
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waivers, invoices, and all other documents the Village Manager, in his sole discretion, deems
necessary to confirm the Project's cost and Nu-Way's expenditures. The Village shall at reasonable
times have access to the Property and the Project necessary to verify the accuracy and completeness
of Nu-Way's Reimbursement Request, after providing written notice to Nu -Way requesting such
access, approval of which Nu -Way shall not unreasonably withhold, condition, or delay. Any
material inaccuracy, false statement, misrepresentation, or false representation made by Nu -Way
within a Reimbursement Request shall constitute an Event of Default. Nu -Way shall only be eligible
for reimbursement of those costs eligible for reimbursement pursuant to the Act, and only if Nu -Way
has not committed an Event of Default. The Village will reimburse Nu -Way within 30 days of
receiving a complete Reimbursement Request.
3.04 Village's Right to Recover Assistance.
The Village is providing the Assistance as set forth in this Agreement based on Nu-Way's
representation that it requires the Assistance to undertake the Project. In the event Nu -Way closes or
reduces the square footage of its Project or Operations, the Village shall, in addition to all other
remedies provided under this Agreement, have the right to recover Assistance it has paid based on a
pro rata calculation. By way of example, if Nu -Way closes its Operation after seven years, the Village
shall have the right to recapture thirty percent (30%) of the Assistance; if Nu -Way reduces the size of
its leased premises by 65,000 square feet, the Village shall have the right to recover twenty-five
percent (25%) of the Assistance.
3.05 Assignment of Obligations.
Nu -Way shall not assign or sell its Operation or the Lease without providing a sixty-day written
notice to the Village. Nu-Way's assignee or purchaser shall agree in writing to assume Nu-Way's
obligation under this Agreement, if that assignee or purchaser fails to do so, the Village shall have
the right to cease paying the Assistance and to recapture any Assistance previously paid to Nu -Way.
The Village shall have no obligation to issue any building or occupancy permits to Nu -Way, its
purchasers or assignees until any Assistance due the Village, if any, is paid in full.
3.06 Private Investment.
Nu -Way hereby represents and warrants to the Village that it shall invest not less than Nine Million
Dollars ($9,000,000) of its private funds in the Project in accordance with the budget attached hereto
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as Exhibit C.
IV
APPROVALS. CONSTRUCTION & FEES
4.01 Exterior Building Elevation Plans.
Nu -Way shall submit its proposed exterior elevations and landscape plans attached hereto as Exhibit
D to the Village for its approval so that the Village can insure the Property is constructed with a high -
quality level of design.
4.02 Village Approval of Plans.
The Village's approval of Nu-Way's plans shall not be unreasonably withheld or denied so long as
the plans depict a high-level of design and are in conformance with all applicable Village Codes and
the requirements of any other agency having jurisdiction over the Project.
4.03 Damage to Public Property.
Nu -Way will maintain or cause to be maintained all streets, landscaping, sidewalks, curbs and curb
cuts, and other public property adjacent to the Property in a good and clean condition during
construction of the Project. Nu -Way will within a reasonable timeframe clean all mud, dirt, or debris
deposited on any street, sidewalk, or other public property in or adjacent to the Property by Nu -Way
or any agent of or contractor hired by, or on behalf of, Nu -Way, and will repair any damage to public
property that may be caused by the activities of Nu -Way or any agent of or contractor hired by, or on
behalf of, Nu -Way. Within a reasonable period of time, but in no event more than twenty four (24)
hours after the Village gives Nu -Way notice to clean all mud, dirt, or debris deposited on any street,
sidewalk, or other public property in or adjacent to the Property deposited by Nu -Way or any agent
of or contractor hired by, or on behalf of, Nu -Way, if Nu -Way neglects to clean, or undertake with
due diligence to clean, the affected public property, then the Village will be entitled to clean, either
with its own forces or with contract forces, the affected public property and to recover from Nu -Way
the actual costs or charges reasonably incurred by the Village to perform the cleaning.
V
AUTHORITY
5.01 Powers.
The Village hereby represents and warrants that the Village is a home rule unit of government and
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has full constitutional and lawful right, power and authority, under current applicable law, to execute
and deliver and perform the terms and obligations of this Agreement, including but not limited to the
right, power and authority to pay the Assistance as described herein, and this Agreement has been or
will be duly and validly authorized and approved by all necessary Village proceedings, findings and
actions.
5.02 Authorized Parties.
Whenever under the provisions of this Agreement and other related documents approval of the
Village is required, such approval may be granted by the Village Manager or his designee; and for
Nu -Way, by any officer of the corporation as designated in writing from time to time (in any event,
the officers or managing member executing this Agreement are so authorized).
VI
GENERAL PROVISIONS
6.01 Events of Default/Remedies.
A. Default by Nu -Way.
Nu -Way shall be in default of this Agreement (an "Event of Default") if Nu -Way fails to comply with this
Agreement's terms, including, without limitation:
(i) Fails to maintain its Operations at the Property for a period of ten years commencing on
the date that the Village issues the Certificate of Occupancy for the Property, except for a
temporary cessation due to circumstances as noted in paragraph 6.05 of this Agreement;
(ii) Assigns or sells the Operation or the Lease in violation of paragraph 3.05 of this Agreement;
or
(iii) Fails to complete the exterior improvements as depicted in Exhibit D attached hereto within
one (1) year of the Effective Date.
B. Default by Village. The Village shall be in default of this Agreement if Nu -Way is in compliance
with the terms and conditions set forth in this Agreement and the Village fails to pay the Assistance.
C. In the event of a default by the Village, Nu-Way's sole and exclusive remedy shall be the remedy
of specific performance.
D. If Nu -Way commits an Event of Default pursuant to paragraph 6.01 or allows such to occur, the
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Village shall have, in addition to all rights and remedies available at law or in equity, the right to cease
all payments of Assistance, to recover any Assistance previously delivered to Nu -Way, to withhold
and/or revoke permits, licenses, or certificates associated with the Project, and, in the event the Village
is the prevailing Party in a judicial proceeding associated with the Village pursuing any of the
foregoing remedies, to recover costs and expenses incurred by the Village in connection with the
judicial proceeding, including reasonable attorneys' fees.
6.02 Construction Indemnity.
Nu -Way covenants and agrees, at its expense, to indemnify, defend, and hold harmless the Village,
and its officers, agents, employees, engineers and attorneys (the "Indemnitees") against, any actions,
claims, and damages to the extent adjudicated to be a result arising directly from the Project or any
Event of Default under this Agreement. The Village shall provide Nu -Way written notice of any
claim for which the Village may seek indemnification or to be held harmless within thirty (30) days
of obtaining notice of a claim. Failure of the Village to tender timely notice or defense of a claim in
accordance with this Section shall waive any obligation of Nu -Way to indemnify, defend, and hold
harmless the Village. Nu -Way shall have the right to hire counsel of its choosing, with consent of
the Village, and to control defense of any claim or to settle any claim provided that the Village shall
have the right to participate in the defense and settlement of the claim. In the event Nu -Way elects
not to defend any claim or the Village elects to retain defense of any claim, Nu -Way shall, and does
hereby agree to, pay all expenses, including without limitation all reasonable legal fees, incurred by
the Village in defending itself with regard to any and all of the claims referenced in this Section,
provided Nu -Way shall have the right to participate in said defense and approval of any settlement
of a claim.
6.03 Insurance.
A. Prior to issuance of a building permit, Nu -Way shall procure and deliver evidence of such policies
to the Village, at Nu-Way's cost and expense, and shall maintain in full force and effect through
completion of construction of the Project, a policy or policies naming the Village of Elk Grove
Village, together with its officers, agents, employees, contractors, attorneys, and engineers as
additional primary, non-contributory named insureds. All such policies shall be in such form and
issued by such companies as shall be reasonably acceptable to the Village, and any insurance carried
by the Village for like risks shall be secondary and in excess of the insurance required hereby. All
policies shall be written on a "per occurrence" basis. Nu -Way shall procure and maintain insurance
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for protection from claims under worker's compensation acts, claims for damages because of bodily
injury including personal injury, sickness or disease or death of any and all employees or of any
person other than such employees, and from claims or damages because of injury to or destruction of
property including loss of use resulting therefrom, alleged to arise from Nu-Way's negligence in the
performance of services under this Agreement. Nu-Way's certificate of insurance shall contain a
provision that the coverage afforded under the policy(s) will not be canceled or reduced without thirty
(30) days prior written notice (hand delivered or registered mail) to the Village. Nu -Way shall
promptly forward new certificate(s) of insurance evidencing the coverage(s) required herein upon
annual renewal of the subject policies. The limits of liability for the insurance required by this Section
shall not be less than the following:
Workmen's Compensation Insurance:
All Liability imposed by Workmen's Compensation statute:
Employer's Liability Insurance $1,000,000
Contractual Liability Insurance $1,000,000
Completed Operations Insurance $ 500,000
Owned, Hired, and Non -Ownership Vehicle, Bodily Injury and Property Damage to the
following Limits:
Commercial General Liability $1,000,000 (each occurrence)
$2,000,000 (aggregate)
Bodily Injury $1,000,000 (each occurrence)
$2,000,000 (aggregate)
Property Damage $1,000,000 (each occurrence)
$2,000,000 (aggregate)
Automobile Liability $1,000,000 combined single limit (each accident)
Umbrella Liability $5,000,000 (each occurrence)
$5,000,000 (aggregate)
B. Prior to the Village issuing an occupancy certificate for the Project, Nu -Way shall keep in force
at all times builders risk insurance on a completed value basis, in non -reporting form, against all risks
of physical loss, including collapse, covering the total value of work performed and equipment,
supplies and materials furnished for the Project (including on -site stored materials), all as to work by
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Nu -Way. Such insurance policies shall be issued by companies satisfactory to the Village. Such
policies shall contain a provision that the same will not be canceled or materially amended without
prior written notice to the Village.
6.04 Prevailing Wage.
Nu -Way shall be responsible for meeting the requirements of the Illinois Prevailing Wage Act (820
ILCS 130 et seq.), ( "Wage Act") as it may be deemed applicable to the Project as determined by the
State of Illinois. Nu -Way hereby indemnifies the Village for any fines, penalties or other charges
including reasonable attorney's fees incurred as a result of Nu-Way's failure to satisfy the
requirements of the Wage Act. Moreover, if the State of Illinois determines the reimbursement of the
Eligible Costs is subject to the Wage Act, the Village shall have no obligation to make any payment
to Nu -Way without Nu -Way first submitting the documentation required by the Wage Act.
6.05 Delay.
For the purposes of any of the provisions of this Agreement, neither the Village nor Nu -Way, nor any
successor in interest shall be considered in breach or default of its obligations under this Agreement
in the event of any delay caused by events or conditions beyond the reasonable control of the Party,
including infectious disease pandemics, which in fact prevents the Party from discharging its
respective obligations hereunder and the timeframes for performance of those obligations shall be
extended accordingly. Economic hardship shall not be a permitted reason for delay. Whenever any
performance that is required hereunder shall be delayed at any time pursuant to this Section, then the
Party excused from performance shall be excused from performance: 1) only after delivery of notice
to the other Party, which notice shall identify the nature of the event causing the delay and the
anticipated duration of the delay; 2) only during the duration of the event causing the delay; and 3)
only so long as the Party whose performance is impaired continues to take reasonable steps to mitigate
the effect of the delay -causing event and to substantially perform despite the occurrence of the delay -
causing event.
6.06 Building, Subdivision Codes; Compliance with Laws.
Nu -Way shall comply with or cause compliance with all federal, state, and Village laws, codes, rules,
and ordinances, including, without limitation, building codes, subject to modifications as approved
by the Village pursuant to the ordinances approving any entitlement requests associated with the
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Project, at all times during this Agreement.
6.07 Right to Inspect.
The Village shall have the right to examine Nu-Way's books and records including all loan statements,
general contractor's sworn statements, general contracts, subcontracts, material purchase orders,
waivers of lien, paid receipts and invoices in order to confirm that Nu -Way has incurred the Eligible
Costs as set forth in Exhibit B.
6.08 Covenant to Pay Taxes.
Nu -Way hereby acknowledges that the sole source of the Assistance is the incremental real estate
taxes generated within the TIF District. Nu -Way hereby covenants to pay or cause to be paid all real
estate taxes levied promptly as they become due and owing.
6.09 Time of Essence.
Time is of the essence of this Agreement. The Parties will make every reasonable effort to expedite
the subject matters hereof and acknowledge that the successful performance of this Agreement
requires their continued and timely performance and cooperation.
6.10 Notice of Default & Right to Cure.
Before any failure of any Party to perform its obligations under this Agreement shall be deemed to
be a default under this Agreement, the Party claiming such default shall send a written notice to the
defaulting Party specifying the alleged default. No breach of this Agreement may be found to have
occurred if performance has commenced to the reasonable satisfaction of the complaining Party
within fifteen (15) days of the receipt of such notice. This notice provision shall not be applicable if
Nu -Way, its agents or assignees are in violation of any Village Code, including life and safety
regulations. If Nu -Way Operations are forced to cease due to circumstances noted in 6.05, these
provisions shall be tolled during the time Nu -Way is prevented from operating.
6.11 Amendment.
This Agreement, and any exhibits attached hereto, may be amended only by the mutual consent of
the Parties, as evidenced by the execution of a written amendment by the Parties or their successors
in interest.
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6.12 No Other Agreement.
Except as otherwise expressly provided herein, this Agreement supersedes all prior agreements,
negotiations and discussions relative to the Project and the Village's Assistance. This Agreement
contains the full agreement of the Parties.
6.13 Assigns.
This Agreement shall be binding upon the Parties and their respective permitted successors and
assigns.
6.14 Severability.
If any provision, covenant, agreement or portion of this Agreement, or its application to any person,
entity or property, is held invalid, such invalidity shall not affect the application or validity of any
other provisions, covenants or portions of this Agreement and, to that end, any provisions, covenants,
agreements or portions of this Agreement are declared to be severable.
6.15 Illinois Law.
This Agreement shall be construed in accordance with the laws of the State of Illinois. Venue for disputes arising
or related to this Agreement shall be the Cook County Circuit Court, Cook County, Illinois.
6.16 Notice.
All notices and requests required pursuant to this Agreement shall be sent as follows:
To Nu -Way Industries, Inc.:
555 Howard Avenue
Des Plaines, IL 60018
Attn: Mary L. Howard
After November 1, 2024 to:
Nu -Way Industries, Inc.
2301 Lunt Avenue
Elk Grove Village, IL 60007-5625
Attn: Mary L. Howard
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To the Village:
Office of the Village Manager
Village of Elk Grove Village
901 Wellington Avenue
Elk Grove Village, Illinois 60007
With copies to:
Office of the Village Attorney
Village of Elk Grove Village
901 Wellington Avenue
Elk Grove Village, Illinois 60007
or at such other addresses as the Parties may indicate in writing to the other; such notice to be given
either by electronic mail, personal delivery, courier, or by certified mail, return receipt requested,
with proof of delivery thereof. Mailed notices shall be deemed effective on the third business day
after mailing; all other notices shall be effective when delivered.
6.17 Partnership; No Third Party Beneficiaries.
Nothing contained herein shall be construed as creating a partnership between the Village and Nu -
Way or as creating or conferring any interest or benefit upon any third party.
6.18 Counterparts and Electronic Copies.
This Agreement may be executed in several counterparts, each of which shall be an original and all
of which shall constitute but one and the same agreement. Executed copies hereof may be delivered
by e-mail and, upon receipt, shall be deemed originals and binding upon the parties hereto.
6.19 Recordation. Either Party shall have the right to record this Agreement or a memorandum
thereof against the Property with the Cook County Recorder of Deeds.
6.20 Exhibits.
The exhibits attached to this Agreement are hereby incorporated into and made a part of this
Agreement. Any conflict or inconsistency between this Agreement and any exhibit attached hereto shall
be resolved in favor of this Agreement.
6.21 Reporting. The Act and the State of Illinois require the Village to complete and file an annual
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report providing certain information for each TIF District within the Village. Nu -Way hereby agrees
that it shall, upon the Village's request, fully and timely cooperate with the Village in compiling
information that the Village is required by law to report, including, without limitation: (A) the number
of jobs created during the previous year; and (B) Nu-Way's projected return on investment for the
Project.
6.22 Compliance with Laws. Nu -Way agrees to comply with all applicable federal, state, and
local laws, statutes, codes, ordinances, resolutions, orders, rules, and regulations, as amended, when
performing any task associated with this Agreement or the Project.
6.23 Term. This Agreement's term will begin on the Effective Date and conclude upon the ten
(10) year anniversary of the Village's issuance of an occupancy certificate for the Property. Upon
the termination of the Agreement and the Parties' rights and obligations hereunder, the Village shall,
at Nu-Way's reasonable request, deliver to Nu -Way a signed release of this Agreement in recordable
form.
6.24 Rights Cumulative. Unless expressly provided to the contrary in this Agreement, each and
every one of the rights, remedies, and benefits provided by this Agreement shall be cumulative and
shall not be exclusive of any other rights, remedies, and benefits allowed by law.
6.25 Non -Waiver. The Parties shall be under no obligation to exercise any of the rights granted
to it in this Agreement. The failure of a Party to exercise at any time any right granted to the Party
shall not be deemed or construed to be a waiver of that right, nor shall the failure void or affect the
Party's right to enforce that right or any other right, except as otherwise set forth herein.
6.26 Consents. Unless otherwise provided in this Agreement, whenever the consent, permission,
authorization, approval, acknowledgement, or similar indication of assent of any Party, or of any duly
authorized officer, employee, agent, or representative of any Party, is required in this Agreement, the
consent, permission, authorization, approval, acknowledgement, or similar indication of assent shall
be in writing.
6.27 Interpretation. This Agreement shall be construed without regard to the identity of the Party
who drafted the various provisions of this Agreement. Moreover, each and every provision of this
Agreement shall be construed as though all Parties to this Agreement participated equally in the
drafting of this Agreement. As a result of the foregoing, any rule or construction that a document is
to be construed against the drafting Party shall not be applicable to this Agreement.
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6.28 Disclosures. Upon the Village's request, Nu -Way will provide a list of all entities owning a
greater than one (1%) percent interest in Nu -Way. Nu -Way will update this information at the request
of the Village. Based in part on the information provided by Nu -Way and in part on information
from the Village's independent investigation, the Village will affirm that its Corporate Authorities,
and all appropriate Village elected and appointed officials, officers, employees, agents and
representatives of the Village have or will comply with the disclosure and conflict -of -interest
provisions of the Public Officer Prohibited Activities Act (50 ILCS 105/3), the Act, and the Illinois
Governmental Ethics Act (5 ILCS 420).
[SIGNATURE PAGES TO FOLLOW]
Page 14 of 22
IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all
requisite authorizations as of the date first above written.
ATTEST:
Village Clerk
VILLAGE OF GR VE VILLAGE,
COOK UPAGE OUNTIES, ILLINOIS,
an Illinoi unicival c oration
By:
Mayor Craig B.
NU -WAY INDUSTRIES, INC.,
an Illinois corporation
By
Name: ary . Howard
Title: CFO
Page 15 of 22
STATE OF ILLINOIS )
) SS
COUNTY OF COOK
I,jl�d�CI�, Nl , a Notary Public in and for the said County, in the State aforesaid, DO HEREBY
CERTIFY that Craig B. Johnson, Mayor of the Village of Elk Grove Village, personally known to me to be the same
person whose name is subscribed to the foregoing instrument as such Mayor, appeared before me this day in person and
acknowledged that he/she signed and delivered the said instrument as his/her own free and voluntary act and as the free
and voluntary act of said Village, for the uses and purposes set forth therein; and the said Village Clerk then and there
acknowledged that he/she, as custodian of the corporate seal of said Village, did affix the corporate seal of said Village
to said instrument, as his/her own free and voluntary act and as the free and voluntary act of said Village, for the uses and
purposes set forth therein.
Witness my hand and notarial seal this ay o , 2024.
�� b a-4—
Ka"
ot Pu lic U
�rJ
My Commission Expires: 21, � "�(
(Seal)
OFFICIAL SEAL
JENNIFER MAHON
NOTARY PUBLIC - STATE OF ILLINOIS
MY COMMISSION EXPIRES:12/27/24
Page 16 of 22
STATE OF Illinois )
) SS
COUNTY OF Cook )
I, Tracy Corso , a Notary Public in and for said County, in the State aforesaid, DO HEREBY
CERTIFY that Mary Howard, the CFO of Nu -Way Industries Inc., an Illinois corporation, personally known
to me to be the person whose name is subscribed to the foregoing instrument as such officer , appeared
before me this day in person and acknowledged that he signed, sealed and delivered the said instrument as his free and
voluntary act for the uses and purposes therein set forth.
GIVEN UNDER my hand and Notarial Seal this 20th day of August , 2024.
TRACY A CORSO Notary Public
NOTARY OFFICIAL SEAL
STABF OF Notary Public - State of Nlinois ,�
aukas My Commission Expires My Commission Expires: Ir 1C1/2C�--�
Janus 19, 2025 (Seal)
Page 17 of 22
EXHIBITS
A. LEGAL DESCRIPTION OF PROPERTY
B. TIF ELIGIBLE COSTS
C. PROJECT BUDGET
D. BUILDING ELEVATIONS
Page 18 of 22
EXHIBIT A
LEGAL DESCRIPTION
THE EAST 645.34 FEET OF THE WEST 1,162.02 FEET OF LOT 13 IN CENTEX INDUSTRIAL
PARK UNIT 3, BEING A SUBDIVISION IN SECTION 35, TOWNSHIP 41 NORTH, RANGE 11,
EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.
2301 Lunt Avenue, Elk Grove Village, IL
PIN NO.08-35-202-023-0000
Page 19 of 22
EXHIBIT B
TIF ELIGIBLE COSTS
Page 20 of 22
TIF ELIGIBLE PROJECT COSTS
Facade Improvements $237,000.00
Building Improvements - North Front Facade $180,000.00
Building Improvements - Southwest Dock Facade $57,000.00
Electrical $2,139,981.41
Equipment Switch Gear (Hardware)
$274,300.00
Bus Duct 1,2,3, Bus Plugs (Hardware)
$646,221.10
Switchboard Bay Addition 1200A/3P Feeder Circuit Breaker (Hardware)
$41,549.93
Additional Bus Plugs, Tap Box, End Closer
$47,495.83
4000 AMP Service Installation
$231,133.00
Bus Duct 2 Installation
$169,664.00
Bus Duct 3 Installation
$235,359.00
Bus Duct 4 + 1200A Switch Board Installation
$253,672.00
Panel Boards, Branch Breakers, Transformers $121,825.00
Primary disconnects & Bus Plug Fuses $10,000.00
Short Circuit Coordination and Arc Flash Study $8,795.00
Engineering, Maintenance, Certification of Existing Gear_AAC $17,800.00
Electrical Installation Warehouse/Office $41,300.00
Electrical Engineering Design $28,300.00
New Account, Feeder Upgrade, Service Poles, ComEd Transformers $12,566.55
Air - Compressors $172,875.00
Site Survey $0.00
Permit Fees $4,005.00
Piping, Hardware, Labor - Main Air Headers $121,870.00
Piping, Hardware, Labor - Sub Headers and Distribution Manifolds $47,000.00
Process Gases $73,000.00
Architectural Plans, Specifications $0.00
Plumbing - Nitrogen, Oxygen, Argon, Co2 mix $23,000.00
Relocation, Ballards, Security Fencing $50,000.00
IT Infrastructure $539,632.46
Architectural Plans, Specifications $0.00
Permit Fees $1,885.00
Low -voltage cable abatement $22,743.00
Low -voltage NEW cable and fiber installation $194,031.46
Low -voltage Installation Office/Warehouse $0.00
Demo/Contruction Switch Room / Distribution $0.00
Switch Gear & Infrastructure $150,973.00
VxRail Infrastructure Refresh $170,000.00
Plumbing $164,097.06
Site Survey $0.00
Architectural Plans, Specifications $1,000.00
North Building Bathrooms Demo and Buildout $89,641.75
South Building Bathrooms Demo and Buildout $73,455.31
HVAC Mechanical $1,225,100.00
Cafe / Break Area / HR Reconfiguration $78,000.00
South Building Addition $250,000.00
North - Main Building $472,000.00
9x 25 Ton RTUs + Drops/Diffuser Kits $378,000.00
1x 15 Ton RTU + Drops/Diffuser Kits $42,000.00
1x 20 Ton RTU + Drops/Diffuser Kits $52,000.00
Plant Offices
New Office Areas Warehouse
$56,300.00
Structural Engineering and Structural Modifications
$74,600.00
Engineering and Permit Work
$50,000.00
In-house Central Control Unit
$49,400.00
Gas Piping Mechanical Work
$95,300.00
HVAC Powder Coat
$99,500.00
Office / Breakroom / Training room Buildout
$682,124.00
Furniture / Millwork / Carpentry / Lighting / Flooring
$647,124.00
ADA Entrance Ways
$35,000.00
Fire Safety
$106,211.00
Sprinkler System
$58,940.00
Fire Alarm System
$47,271.00
Racking Systems
$59,004.00
Raw Material DID
$15,369.00
South and North Over Dock Racks
$43,635.00
Plant Floor Offices, Quality Lab
$853,252.00
Grinding Area (Air flow units, Curtains) $670,000.00
Paintline Office $31,996.00
Production & Quality & IE Offices
Crane Relocation - Raw Materials
Relocation and Installation
Cranes Gorbel Relocation & Free standing structures
Relocation and Freestand Conversions
Drawings / Miscellaneous
Base Drawings
Building Drawings CAD
Electrical Distribution
Architectural Plant Layouts - Offices, Employee Entrances
Demo Offices / Cafe
$151,256.00
$44,869.00
$44,869.00
$56,807.94
$56,807.94
$200,792.00
$33,500.00
$17,250.00
$28,300.00
$54,117.00
$67,625.00
Total TIF Eligible Project Costs $6,554,745.87
EXHIBIT C
PROJECT BUDGET
Page 21 of 22
Nu -Way Relocation Project Budget
Facade Improvements
$237,000.00
Building Improvements - North Front Facade
$180,000.00
Building Improvements - Southwest Dock Facade
$57,000.00
Electrical
$2,143,981.41
Site survey
$0.00
Switch Gear Plans, Specifications
$0.00
Equipment Switch Gear (Hardware)
$274,300.00
Bus Duct 1,2,3, Bus Plugs (Hardware)
$646,221.10
Switchboard Bay Addition 1200A/3P Feeder Circuit Breaker (Hardware)
$41,549.93
Additional Bus Plugs, Tap Box, End Closer
$47,495.83
4000 AMP Service Installation
$231,133.00
Bus Duct 2 Installation
$169,664.00
Bus Duct 3 Installation
$235,359.00
Bus Duct 4 + 1200A Switch Board Installation
$253,672.00
Decommision and Reinstall AAC Switch Board, Gear, Bus Duct
TBD
Panel Boards, Branch Breakers, Transformers
$121,825.00
Primary disconnects & Bus Plug Fuses
$10,000.00
Short Circuit Coordination and Arc Flash Study
$8,795.00
Engineering, Maintenance, Certification of Existing Gear_AAC
$17,800.00
Electrical Installation Warehouse/Office
$41,300.00
Electrical Engineering Design
$28,300.00
Decommision Service, Transformer Disconnect, Pole Diconnect
$4,000.00
New Account, Feeder Upgrade, Service Poles, ComEd Transformers
$12,566.55
Air - Compressors
$441,857.00
Site Survey
$0.00
Permit Fees
$4,005.00
Compressors, VSD, Dryers, Tanks
$268,982.00
Piping, Hardware, Labor - Main Air Headers
$121,870.00
Piping, Hardware, Labor - Sub Headers and Distribution Manifolds
$47,000.00
Process Gases
$139,500.00
Architectural Plans, Specifications
$0.00
Concrete Service Pad
$66,500.00
Nitrogen Bulk
$0.00
Argon Bulk
$0.00
Oxygen, Co2 Bulk
$0.00
Trifectas, Evaporators
$0.00
Plumbing - Nitrogen, Oxygen, Argon, Co2 mix
$23,000.00
Relocation, Ballards, Security Fencing
$50,000.00
IT Infrastructure
$539,632.46
Architectural Plans, Specifications
$0.00
Permit Fees
$1,885.00
Low -voltage cable abatement
$22,743.00
Low -voltage NEW cable and fiber installation
$194,031.46
Low -voltage Installation Office/Warehouse
$0.00
Demo/Contruction Switch Room / Distribution
$0.00
Switch Gear & Infrastructure
$150,973.00
VxRail Infrastructure Refresh
$170,000.00
Plumbing
$164,097.06
Site Survey
$0.00
Architectural Plans, Specifications
$1,000.00
North Building Bathrooms Demo and Buildout
$89,641.75
South Building Bathrooms Demo and Buildout
$73,455.31
Foundations / Machinery Movers
$888,025.00
Plans, Specifications
$0.00
Machine Pads
$313,025.00
Machine Movers
$575,000.00
HVAC Mechanical
$1,225,100.00
Site Survey
$0.00
Front Office
$0.00
Office Areas
$0.00
RTU-1 Replacement
$0.00
RTU-2 Replacement
$0.00
RTU-5 Repairs
$0.00
T-Stat Wiring Replacement
$0.00
Cafe / Break Area / HR Reconfiguration
$78,000.00
South Building Addition
$250,000.00
6x 25 Ton RTUs + Drops/Diffusers Kits
$0.00
North - Main Building
$472,000.00
9x 25 Ton RTUs + Drops/Diffuser Kits
$378,000.00
1x 15 Ton RTU + Drops/Diffuser Kits
$42,000.00
1x 20 Ton RTU + Drops/Diffuser Kits
$52,000.00
Plant Offices
New Office Areas Warehouse
$56,300.00
Quality Offices
$0.00
Production Control Offices
$0.00
HVAC modifications South Bathrooms
$0.00
Structural Engineering and Structural Modifications
$74,600.00
Roof framing, steel, reports, modifications
0
Engineering and Permit Work
$50,000.00
Full engineering and design drawings
0
Permit drawings and submittals
$0.00
Construction drawings and coordination
$0.00
In-house Central Control Unit
$49,400.00
Wireless controls work
$0.00
Work based on 17 RTUs total
$0.00
LCD touchscreen thermostats w/web gateway
$0.00
Wireless repeaters
$0.00
Temperature with Economizer Controls
$0.00
Gas Piping Mechanical Work
$95,300.00
Mechanicals
$0.00
New 6" Diam. Meter header and distribution
$0.00
Plumb existing 3" Diam. Gas main
$0.00
New 4" Diam. Gas main to paintline (6x w/secondary regulators)
$0.00
Meter Replacement
$0.00
HVAC Powder Coat
$99,500.00
1x 35 Ton RTU, ductwork, diffusers, labor
$0.00
Office / Breakroom / Training room Buildout
$682,124.00
Furniture / Millwork / Carpentry / Lighting / Flooring
$647,124.00
ADA Entrance Ways
$35,000.00
Fire Safety
$106,211.00
Sprinkler System
$58,940.00
Fire Alarm System
$47,271.00
Equipment Decomission & Recommission
$1,364,560.00
Trumpf Equipment Total: $1,054,560
TruBend Cell 5000 - 5130
$168,800.00
TruBend Cell 5000 - 5170
$168,800.00
TruLaser 5030 - A3231L0045
$61,040.00
TruLaser 5030 - A2231E0671
$61,040.00
TruStore, LMC, PartMaster- C1030L0024
$166,880.00
TruStore, LMC, PartMaster- C1030L0027
$176,880.00
TruWeld 5020
$119,860.00
TruMatic 6000
$131,260.00
PrimaPower Total: $310,000.00
BCeSma rt
$40,000.00
Platino
$30,000.00
SG e6
$80,000.00
SG6
$80,000.00
SG5
$80,000.00
Landscaping
$226,492.00
Architectural Plans, Specifications
$0.00
Detention Basin
$87,000.00
Front Building Green Space / Butterfly garden
$128,418.00
Sidewalk and existing patio removal
$2,572.00
Lane Barrier West Lot
$8,502.00
Racking Systems
$59,004.00
Raw Material DID
$15,369.00
South and North Over Dock Racks
$43,635.00
Receiving Area
$0.00
Plant Floor Offices, Quality Lab
$853,252.00
Site Survey
$0.00
OEM Plans, Specifications
$0.00
Grinding Area (Air flow units, Curtains)
$670,000.00
Paintline Office
$31,996.00
Production & Quality & IE Offices
$151,256.00
Crane Relocation - Raw Materials
$44,869.00
Engineer - Supports and Headers
$0.00
Relocation and Installation
$44,869.00
Cranes Gorbel Relocation & Free standing structures
$56,807.94
Relocation and Freestand Conversions
$56,807.94
Siemens Dock
$18,363.00
Cement & Cinder Block Demo
$2,500.00
New Dock Leveler installed
$6,708.00
New Dock Door, dock buck jambs, installed
$9,155.00
Shop Area - Fencing
$0.00
Tool Room
$0.00
Proto Type Lab
$0.00
Maintenance Shop
$0.00
Stock Room Cage
$0.00
MRB Cage
$0.00
Siemens Cage
$0.00
Drawings / Miscellaneous
$200,792.00
Base Drawings
$33,500.00
Building Drawings CAD
$17,250.00
Equipment Layout
$0.00
Electrical Distribution
$28,300.00
Gas Distribution Layout
$0.00
Water Distribution Layout
$0.00
Air Header Layout
$0.00
Architectural Plant Layouts - Offices, Employee Entrances
$54,117.00
Demo Offices / Cafe
$67,625.00
Total Budget $9,391,667.87
EXHIBIT D
BUILDING ELEVATIONS. RENDERINGS.
AND LANDSCAPE. PLANS
Page 22 of 22
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