HomeMy WebLinkAboutEXECUTIVE SESSION - 11/15/1994 - LITIGATION/RELEASED RES NO 24-99 UC
EXECUTIVE SESSION
Elk Grove Village
Date November 15, 1994
Time 10:20 p.m.
TOPIC: Litigation X Personnel_ Land Acquisition_
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 R. Farrell
Village Trustee Admin. Asst. -
R. Chernick G. Knickerbocker
Village Trustee Village Attorney
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 November 15, 1994 this Executive Session was called to
consider a litigation matter.
Number of pages attached: 1
Date(s) of review for release: Januaryy 1995 'J
Date of approval for release: 5? /n y- 66" v� /' U
11115194
10:20 p.m.
LITIGATION
The Village Attorney reported that Grove Mall failed to
sign the redevelopment agreement by the deadline of October
31 , 1994 . The Village Attorney noted the negotiations on .
the agreement were dropped due to the uncooperative nature
of Grove Mall representatives.
Contact was made with Joseph Freed, the apparent
developer hired by Grove Mall to perform the
redevelopment. It was learned that Freed is not under
contract with Grove Mall and has not worked on the project
since June. Freed showed the Village Attorney his latest
plans for the redevelopment which have not been released.
The advice of an independent developer was sought on the
feasibility of Freed 's plans. The expert stated that any
redevelopment of the center will not be possible unless .
there is government assistance, specifically through a tax
increment finance (TIF) district .
The Village Attorney explained the concept of TIF's and
how it could work very well for this property. The process
would involve condemnation of the property, aquisition of
the property and conveyance of the property to a
developer. Bonds would be issued to cover the cost of the
property under a TIF district. The difference in property
taxes generated from the redeveloped center versus the
blighted center would pay off the bonds.
The consensus of the Committee was as follows:
-- Adopt condemnation ordinance against Grove Mall at
the December 13 Village Board Meeting;
-- Authorize the Village Attorney to engage Trkla &
Associates to prepare a TIF pro-forma;
-- Keep all matters of the Grove Mall litigation in
confidence; and
-- Schedule an executive session for December 13 at 6
p.m. to discuss this issue.
The meeting adjourned at 11 p.m.
lk