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VILLAGE OF TOLONO, ILLINOIS 19 ORDINANCE NO. 2023O___AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A TIF REDEVELOPMENT AGREEMENT BY AND BETWEEN THE VILLAGE OF TOLONO AND ROCKET SLOTS, INC.

How to fill out amendment to redevelopment agreement

How to fill out amendment to redevelopment agreement

1. Review the original redevelopment agreement to understand what changes need to be made.
2. Identify the specific sections or clauses that require amendment.
3. Draft the proposed changes in a clear and concise manner, including any new language that needs to be added.
4. Consult with legal counsel to ensure the proposed amendments are legally sound and compliant with relevant laws.
5. Present the proposed amendments to all parties involved in the redevelopment agreement for review and approval.
6. Once approved, finalize the amended agreement and ensure all parties sign off on the changes.
7. Make any necessary filings or notifications with the appropriate government agencies to officially amend the redevelopment agreement.

Who needs amendment to redevelopment agreement?

1. Property developers
2. Government agencies
3. Investors or lenders involved in the redevelopment project
4. Any other stakeholders who are parties to the original redevelopment agreement

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What is amendment to redevelopment agreement?

An amendment to a redevelopment agreement is a formal change or modification made to the original contract that outlines the terms and obligations related to a redevelopment project, addressing revisions in project scope, timelines, or financial aspects.

Who is required to file amendment to redevelopment agreement?

Typically, the parties involved in the redevelopment agreement, such as the developer, city planners, or municipal authorities, are required to file amendments when changes to the agreement are necessary.

How to fill out amendment to redevelopment agreement?

To fill out an amendment to a redevelopment agreement, you should clearly state the existing contractual provisions being amended, provide the specific changes, and include the signatures of all parties involved to validate the amendment.

What is the purpose of amendment to redevelopment agreement?

The purpose of an amendment to a redevelopment agreement is to allow for modifications to the original terms due to changing circumstances, ensuring that the agreement remains relevant and legally enforceable.

What information must be reported on amendment to redevelopment agreement?

The amendment must include information such as the original agreement date, specific sections being amended, a detailed description of changes, and signatures from all parties involved.