HomeMy WebLinkAboutEXECUTIVE SESSION - 01/09/2001 - LAND DISPOSITION/RELEASED RES NO 8-04 COPY
EXECUTIVE SESSION
Date January 9.2001
Time 6:58 p.m.
Chemick Conference Room
TOPIC: LITIGATION_ PERSONNEL _ LAND DISPOSITION X
VILLAGE BOARD VILLAGE BOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
C. JOHNSON G.PARRIN
Mayor Village Manager
N. CZARNIK R. RUMMEL
Village Trustee Asst. Vlg.Manager
B.DILL P.VADOPALAS
Village Trustee Assistant to Vlg. Mgr.
P.FEICHTER G.KNICKERBOCKER
Village Trustee Village Attorney
S. LISSNER
Village Trustee
J.PETRI
Village Trustee
C. PROCHNO
Village Trustee
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 01/09/01 this
Executive Session was called to consider a Land Disposition matter.
Number of pages attached: 1
Date(s) of review for release: December 2001
Date of approval for release: �3q C, _
U
1/9/01
6:58 n•m•
Land Disposition
The Village Attorney provided an update on the Village's efforts to sell the Dierking
Terrace property. Centerpoint Properties has communicated its acceptance of the
Village's most recent contract terms, however,they have yet to return an executed copy
to the Village. In addition, the offer from Gullo has recently been increased to $1.1
million, and they are willing to close 6 months earlier than Centerpoint.
The Village Attorney noted that Centerpoint has been dealing with the Village in good
faith, and the delay in receiving the contract has been attributed to Centerpoint's
organizational processes to obtain the final approval of their Board of Directors.
Centerpoint stated that delivery of the contract can occur as soon as tomorrow.
The Board discussed the drawbacks and benefits of both offers, given Centerpoint's
inability to return a contract and the favorable terms of the Gullo offer. The consensus of
the Board was to direct the Attorney to contact Centerpoint and seek an increased
purchase price or sooner closing date as deemed appropriate by the Village Attorney.
The meeting adjourned at 7:10 p.m.