CONSTRUCTIONAWARDED

City of Edwardsville Business District Redevelopment Agreement 2026-06-11

Edwardsville Approves $2.16M Business District Redevelopment Agreement with 400 N Main LLC

Not to exceed $2,157,504.32 (estimated); actual reimbursements subject to verification and available fundsCity of Edwardsville400 N MAIN LLCJune 11, 2026

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Description

The City of Edwardsville awarded a Business District Redevelopment Agreement to 400 N Main, LLC for eligible redevelopment project costs up to an estimated $2,157,504.32. The agreement provides reimbursement for construction, infrastructure, and related improvements within the 400 North Main Business District, funded through district tax revenues as costs are verified and funds are available.

Contract Details

Contract Amount

Not to exceed $2,157,504.32 (estimated); actual reimbursements subject to verification and available funds

Vendor

400 N MAIN LLC

Agency

City of Edwardsville, IL

Contract Type

CONSTRUCTION

Document Date

June 11, 2026

Contract Term

Commences upon verification of Project completion; payments continue quarterly until either 400 North Main Business District Area expires (max 23 years from Nov 21, 2023) or Applicable Reimbursement Limit is met

Renewal Date

2046-11-21

Renewal Info

The agreement terminates upon full reimbursement of the Applicable Reimbursement Limit, district expiration, or failure to complete work within 365 days after execution (with 30-day cure period after notice). Payments are pro-rated and limited to the Business District Fund’s balance; no funds are drawn from the City General Fund.