HomeMy WebLinkAboutEXECUTIVE SESSION - 03/14/2023 - LAND ACQUISITION (2)EXECUTIVE SESSION
March 14, 2023
- 6:07 p.m.
Chernick Conference Room
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TOPIC: ❑ LITIGATION ❑ PERSONNEL X LAND ACQUISITION
VILLAGE BOARD
MEMBERS PRESENT
C. JOHNSON
Mayor
J. FRANKE
Village Trustee
S. LISSNER
Village Trustee
T. MILLER
Village Trustee
C. PROCHNO
Village Trustee
S. SCHMIDT
Village Trustee
VILLAGE BOARD
MEMBERS ABSENT
STAFF PRESENT
M. ROAN
Village Manager
M. JABLONSKI
Deputy Village Manager
C. GABIGA
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 Mayor and Board of Trustees on March 14, 2023, this Executive Session was called to
consider review of Land Acquisition.
Number of pages attached: 1
Date(s) of review for release: February 2025
Date of approval for release:
Date approved by Village Board: April 11, 2023
March 14, 2023
6:07 pm
The Mayor informed the Board that the owners of the White Castle property (1800 Oakton), La
Quinta property (1900 Oakton), the property at 500 E. Higgins and the property at 570 E.
Higgins have all accepted the offers and are reviewing the draft purchase contracts.
The Village Manager advised there is about $50 million available in the Busse/Elmhurst TIF
Fund, and with the pending acquisitions totaling $18 million, there will be $32 million left in the
fund balance. With the $5 million in encumbered expenses and an additional $28 million in
revenues anticipated next year, the Busse/Elmhurst TIF Fund will remain at $55 million dollars.
The meeting was adjourned at 6:07 pm.