HomeMy WebLinkAboutEXECUTIVE SESSION - 10/13/2020 - Property DispositionEXECUTIVE SESSION
October 13, 2020
6:27 p.m.
Room E
TOPIC: ❑ LITIGATION ❑ PERSONNEL X PROPERTY
DISPOSITION
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 October 13, 2020, this Executive Session was
called to consider review of Property Disposition.
Number of pages attached:
Date(s) of review for release
Date of approval for release:
February 2021
�. Date approved by Village Board: November 17, 2020
October 13, 2020
Bhavik Dani has been unable to put together financing for his proposed hotel development at the
Technology Park. The RDA allows the Village to buy the property at the Technology Park from
Dani at the price he paid, since he was unable to meet timelines.
The two -hotel development at the Elk Grove Motel site has also has fallen through due to
financing, but this developer is interested in developing a hotel at the Technology Park, using the
plans already approved for this site. The consensus of the Committee was to work with this
developer on this site.
The meeting was adjourned at 6:32 pm.