HomeMy WebLinkAboutEXECUTIVE SESSION - 05/26/1998 - LAND ACQUISITION/RELEASED RES NO 14-01 EXECUTIVE SESSION
Date Mu 26 , 1998
Time 6:10 n.m.
Chemick Conference Room
TOPIC: LITIGATION_ PERSONNEL _ LAND ACQUISITION —X
VILLAGE BOARD VILLAGE BOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
C. JOHNSON G. PARRIN
President Village Manager
N.CZARNIK R. RUMMEL
Village Trustee Asst. Village Manager
B. DILL S.NIEHAUS
Village Trustee Asst. to the Manager
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 May 26. 1998 this
Executive Session was called to consider a land acquisition matter.
Number of pages attached: 1
Date(s) of review for release: January 1999
Date of approval for release:
5/26/98
6:10 p.m.
LAND ACQUISITION
Special Counsel Mary Riordan brought the Village Board up-to-date
on the status of discussions regarding the proposed Chicago Bears stadium
development.
Riordan stated she and the Village Attorney had met with tax
consultants in order to examine income tax and real estate property tax
issues. Based on the information obtained, and the Village's knowledge of
the issue, Riordan stated that the Village can respond initially to the tax
exempt issues concerning Village stadium ownership. The Village must
have sole discretion over use of stadium for tax exempt status.
The Village Attorney noted that several additional concerns need to
be addressed by the Village should the Bears make a proposal to locate in
Elk Grove, including the following:
• the need for an appraiser to determine impact of stadium on property
values;
• the need to address public relations issues;
• need for staff to travel to Prince George's County, Maryland for
additional education;
• the need for the agreement to be free of financial risk by the Village;
and
• the reimbursement for Village expenses.
Trustee Feichter was excused from the meeting at 6:30 p.m.
Upon further discussion, the consensus of the Village Board was as
follows:
• to authorize the Village's negotiating team to engage the
necessary consultants to fully research the development of a
stadium for consideration by the Village Board subject to the
Chicago Bears agreeing to pay all fees and expenses;
• to have consulting contracts for financial, traffic and other
necessary consultants approved by public action of the Village
Board;
• to request the Chicago Bears to confirm their payment of
Village and consultant costs; and
• to develop a press release and public relations plan for use in
the event that the Bears submit a formal proposal.
In addition, it was the consensus of the Village Board to collect all
invoices for consulting/work done for the Village and forward them to the
Bears for payment, subject to the Village receiving confirmation of
payment.
The meeting adjourned at 7:00 p.m.
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