HomeMy WebLinkAboutEXECUTIVE SESSION - 02/27/2024 - LAND AQUISITIONEXECUTIVE SESSION GENERAL
February 27, 2024
7:47B p.m.
Village Hall RanIze Ready Roam
TOPIC: ❑ LITIGATION ❑ PERSONNEL X LAND DISPOSITION
VILLAGE BOARD
MEMBERS PRESENT
C. JOHNSON
Mayor
J. BUSH
Village Trustee
J. FRANKE
Village Trustee
K. JAROSCH
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
D. STORINO
Acting 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 Februa 27 2024, this Executive Session was called to
consider review of Land Disposition.
Number of pages attached:
Date(s) of review for release:
Date of approval for release:
Date approved by Village Board:
1
February 2025
May 12, 2026
December 17, 2024
February 27, 2024
7:47B pm
The Mayor shared the proposed renderings provided by Mario Gullo for 500 and 570 Higgins
Road with the Board to review. The proposed buildings are spec industrial with docks located off
the road.
The Board was in favor of the renderings.
The Mayor stated that the Village bought 500 and 570 Higgins for a total of $1.5 million and
Mario Gullo is purchasing the properties for $2 million. This transaction will include $1.5
million in TIF incentives spelled out in a redevelopment agreement.
Mario Gullo has a Letter of Intent for the Road Ranger Fueling Station at the corner of
Landmeier and Higgins. The Mayor stated that the Village paid $1.9 million for that property
and that Mario Gullo will pay the Village $3 million. This transaction will include $1.5 million
in TIF incentives spelled out in a redevelopment agreement.
The closings for the properties will take place at the end of March and redevelopment
agreements will be part of the agreement that lays out development details and TIF incentives.
The consensus of the Board was to move forward with the sale of these properties.
The meeting was adjourned at 7:52 pm.