HomeMy WebLinkAboutEXECUTIVE SESSION - 07/07/2020 - Land AcquisitionEXECUTIVE SESSION
July 7, 2020
6:19 p.m.
Room E
TOPIC: ❑ LITIGATION ❑ PERSONNEL X LAND ACQUISITION
VILLAGE BOARD
MEMBERS PRESENT
C. JOHNSON
Mayor
N. CZARNIK
Village Trustee
P. FEICHTER
Village Trustee
J. FRANKE
Village Trustee
S. LISSNER
Village Trustee
C. PROCHNO
Village Trustee
S. SCHMIDT
Village Trustee
VILLAGE BOARD
MEMBERS ABSENT
STAFF PRESENT
R. RUMMEL
Village Manager
M. ROAN
Deputy Village Manager
M. JABLONSKI
Assistant Village Manager
G. KNICKERBOCKER
Village Attorney
Pursuant to a duly made and approved motion and a majority vote at a regularly scheduled meeting
of the Village President and Board of Trustees on July 7, 2020, this Executive Session was called
to consider review of Land Acquisition/Disposition.
Number of pages attached:
Date(s) of review for release
Date of approval for release:
Date approved by Village Board
October 2020
August 11, 2020
July 7, 2020
`- The Village may have the opportunity to buy the Days Inn on Higgins Road, which is currently
in unincorporated Cook County. Dani, the developer of the Tech Park hotel, has offered to work
as an intermediary for this purchase by the Village—Dani would pursue the purchase and would
then assign the contract to the Village. Dani is planning to ask Mr. Patel, the owner of the Days
Inn, to invest the purchase price toward the Home2 hotel development in the Tech Park, so that
he could get the higher down payment necessary to secure financing for this project. After the
Home2 is built, Dani would then look to develop an Avid hotel at the current Days Inn site. In
the meantime, the Village would own the land. The Days Inn would be closed if the Village
acquired the property .This property is not currently a part of any TIF District, though it can be
added to a TIF district in the future once annexed.
The consensus of the Board was to authorize staff to negotiate up to a purchase price of $3.5
million.
The meeting was adjourned at 6:23 pm.
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