HomeMy WebLinkAboutEXECUTIVE SESSION - 11/14/2000 - LAND ACQUISITION/RELEASED RES NO 23-03 t
EXECUTIVE SESSION
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Date November 14, 2000 A`
Time 7:35 p.m.
Chernick Conference Room
TOPIC: LITIGATION_ PERSONNEL _ LAND ACQUISITION 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 11/14/00 this
Executive Session was called to consider a Land Acquisition matter.
Number of pages attached: 1
Date(s) of review for release: June 2001
Date of approval for release:
11/14/00
7:3512m.
LAND AOUISITION
The Village Attorney informed the Board that a contract to purchase the Dierking Terrace
property is ready for approval at the December 4, 2000 Village Board meeting. The
proposed purchase price is $1,265,000, contingent on the Village's improvement to the
road at the projected cost of$265,000.
The offer includes$125,000 in earnest money, and is contingent on the Village's ability
to construct the roadway improvements. Closing would occur within nine months after
the road is completed.
After discussing the offer, the consensus was to have the Village Attorney seek the
following terms:
• Closing to occur 6 months after roadway is completed or December 31, 2001,
whichever is later; or
• Closing to occur 9 months after roadway is completed if earnest money is
increased to $265,000.
The meeting adjourned at 7:45 p.m.