HomeMy WebLinkAboutEXECUTIVE SESSION - 07/22/1997 - LITIGATION/RELEASED RES NO 14-01 EXECUTIVE SESSION
Date 1 /y 22 1997
Time 6:10 12.m-
TOPIC. LITIGATION PERSONNEL_ LAND ACQUISITION
VILLAGE BOARD VILLAGE BOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
C. JOHNSON R. RUMMEL
President Asst. Village Manager
N. CZARNIK S. NIEHAUS
Village Trustee Assistant to the Mgr.
B. DILL G. KNICKERBOCKER
Village Trustee Village Attorney
P. FEICHTER
Village Trustee
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 July 72. 1997 this
Executive Session was called to consider a litigation matter.
Number of pages attached: 1
Date(s) of review for release: lanuary 1998
Date of approval for release: -.27-O/
July 22, 1997
6:10 p.m.
LITIGATION
The Village Attorney brought the Village Board up to date on the status of
the redevelopment agreement for the Elk Grove Town Center. The Village Attorney
stated that the Village had received IEPA approval of the remediation plan and
could now proceed with closing on the property subject to determination of who
will bear the cost of remediation.
The Village Attorney stated that the Village's special counsel, Burke & Ryan,
had negotiated an out-of-court agreement with Joe Serfecz, which provided for the
following:
• Based on estimated costs of remediation of the dry cleaner contamination,
Serfecz' responsibility of all additional costs of remediation of the dry cleaner
property up to $310,000; and
• No contest of expenditures for remediation except for work or expense outside
the scope of the TEPA approved plan.
i The Village Attorney explained that the estimated cost of remediation was
$313,000 (including $30,000 in contingency funds) and that Hamilton Partners
had agreed to pay the initial costs for remediation up to $313,000 and be
reimbursed by Serfecz upon approval of the completed work. The remaining costs,
above $310,000, if incurred, will be paid for by the Village from the $2,000,000 in
TIF funds earmarked for building upgrades. Language providing for this payment
schedule was included in a revised 1st Amendment to the Redevelopment
Agreement which was distributed to the Village.
Upon further discussion, the consensus of the Village Board was to rescind
the 1st Amendment and adopt a revised 1st Amendment to the Redevelopment
agreement under NEW BUSINESS at the July 22, 1997 Village Board meeting.
The meeting adjourned at 6:35 p.m.
Ik