HomeMy WebLinkAboutEXECUTIVE SESSION - 01/23/1996 - LITIGATION/RELEASED RES NO 24-99 (3) EXECUTIVE SESSION
Date lanuary 23, 1996
Time 7:00 o.m.
TOPIC: LITIGATION—zC PERSONNEL _ LAND ACQUISITION
VILLAGE BOARD VILLAGEBOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
D. GALLITANO R. CHERNICK G. PARRIN
President Village Trustee Village Manager
1. PETRI R. RUMMEL
Village Trustee Asst. Village Mgr.
N. CZARNIK S. NIEHAUS
Village Trustee Adminisrative Asst.
P. RETTBERG G. KNICKERBOCKER
Village Trustee Village Attorney
C. JOHNSON B. RYAN
Village Trustee (Special Counsel)
S. LISSNER
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 lanuant 2.3. 1996
this Executive Session was called to consider a Litigation matter.
Number of pages attached: 1
Date(s) of review for release: luly 1, 1996 //�J
Date of approval for release: y a $" � F- )&S a v 7 9
1/23/96
7:00 p.m.
Litigation
Special Counsel Ryan brought the Village Board up to date on
the status of the Grove Mall condemnation litigation.
Ryan stated that Serfecz agreed to our original offer of a
settlement price of $6.15 million, not including the Burger King
or Citgo. Under the settlement, the Village would be required to
cover the cost of the Walgreen's lease. Walgreens wants $1
million. Serfecz would be responsible for the Good Year lease,
all other tenants, and environmental remediation. In addition,
Serfecz would be required to release all lawsuits currently filed
against the Village.
Under the agreement the Village would be required to pay for
the Grove Mall within 14 days of the execution of the agreement.
Upon further discussion, the consensus of the Village Board
was as follows:
-- to authorize the Village Attorney and Special
Counsel to spend up to $6.3 for the purchase of
the Grove Mall property, including the Walgreen Lease
and Good Year buyout assistance and excluding Burger
King and Citgo;
-- to have the necessary ordinance authorizing the
purchase drafted in preparation of adoption at the
2/13/96 village Board meeting; and
-- to have a press release outlining the Village's
plans for the property prepared for distribution
following the 2/13/96 Village Board meeting.
The meeting adjourned at 7:25 p.m.
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