ORDINANCE AUTHORIZING AND APPROVING A PAYMENT IN LIEU OF TAXES (“PILOT”) AGREEMENT WITH EV BLOOMINGTON LIMITED PARTNERSHIP FOR EVERGREEN VILLAGE AT BLOOMINGTON
EV Bloomington Limited Partnership (“Developer”) desires to develop property within the City of Bloomington as a residential care facility for low-income seniors. In order to make this development financially feasible, Developer wishes to enter into an agreement to make payments in lieu of taxes (“PILOT Agreement”). This ordinance authorizes and approves the PILOT Agreement with the Developer.