HomeMy WebLinkAboutEXECUTIVE SESSION - 08/23/1994 - LITIGATION, LAND ACQUISITION/RELEASED RES NO 24-99 v�
EXECUTIVE SESSION
EIk Grove Village
Date August 23, 1994
Time 7:45 p.m.
TOPIC: Litigation X Personnel_ Land Acquisition X
Village Board Village Board
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
D. Gallitano, G. Parrin
Village President Village Manager
M. Tosto R. Rummel
Village Trustee Asst.Vlg.Mgr.
N. Czarnik G. Knickerbocker
Village Trustee Vlg. Attorney
R. Chernick J. Mac Arthur
Village Trustee Fire Chief
J. Petri
Village Trustee
P. Rettberg
Village Trustee
C. Johnson
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 August 23, 1994 this Executive Session was called to
consider a litigation and land acquisition matter.
Number of pages attached: 1
Date(s) of review for release: January 1995
Date of approval for release: t s- / / 9, �7')
8123194
7:45 p.m.
LITIGATION
LAND ACQUISITION
The Village Attorney reported on the final land appraisal
of the Grove Mall . The property is valued at $4 . 9 million
minus $400,000 in demolition costs, bringing the total value
of the Grove Mall to $4 .5 million.
in addition, the attorney representing the Grove Mall has
not reported back on an amount his client would agree to cap
his litigation settlement at, with respect to the Jewel
anti-trust litigation. This information was requested for a
global settlement offer to be made to Jewel in exchange for
Jewel surrendering its lease at the Grove Mall .
Further, the Serfecz attorney has not yet provided
information to justify Serfecz 's economic claims against
Jewel . These losses are claimed at $51 million, after
tripling for anti-trust damages.
The consensus of the Board was to have the Village
Attorney present an offer to the owners of the Grove Mall for
the Village to purchase it. The offer is to be $4 .5 million.
If the Offer is rejected, the Village Board will consider
condemnation litigation at the September 13, meeting.
The meeting adjourned at 8:05 p.m.