HomeMy WebLinkAboutEXECUTIVE SESSION - 05/08/2001 - LAND DISPOSITION/RELEASED RES NO 8-04 COPY
EXECUTIVE SESSION
Date May 8. 2001
Time 6:25 p.m.
Chemick Conference Room
TOPIC: LITIGATION— PERSONNEL _ LAND ACQUISITION X
VILLAGE BOARD VILLAGE BOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
C. JOHNSON C.PROCHNO G.PARRIN
Mayor Village Trustee Village Manager
N. CZARNIK R.RUMMEL
Village Trustee Asst.Vlg.Manager
B. DILL P. VADOPALAS
Village Trustee Asst. to the Vlg. Mgr.
P. FEICHTER H.INGEBRIGTSEN
Village Trustee Finance Director
S. LISSNER G.KNICKERBOCKER
Village Trustee Village Attorney
J. PETRI
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 05/08/01 this
Executive Session was called to consider a LAND ACQUISITION matter.
Number of pages attached: 1
Date(s)of review for release: December 2001
Date of approval for release:
5/08/01
6:25 p.m.
LAND ACQUISITION
The Mayor asked the Village Attorney to report on discussions regarding the
redevelopment of the Rohlwing Grove shopping center.
The Attorney reported he has discussed the matter with the principals of several
residential development companies including Concord Homes and Tantillo. Tantillo has
expressed an interest in developing the subject site with"high end"condominium
buildings. The initial concept includes 3 or 4 story buildings with underground parking,
for a total of approximately 170 units. The density would approximate 25-28 units per
acre. Two acres would be set aside for two restaurants. At this time,this developer
would pay approximately four million dollars to acquire the 9-acre site.
The Mayor suggested the Village acquire the site for up to$4.2 million financed
from General Fund revenues, and recoup any costs above$4 million through TIF
financing, if possible. The Mayor noted that Villa Marcella restaurant should be offered
to relocate to one of the proposed restaurant parcels before marketing the sites to other
restaurants.
The consensus of the Village Board was to authorize the Village Attorney to
negotiate contracts for site acquisition and report to the Board for consideration.
The meeting adjourned at 6:44 p.m.