HomeMy WebLinkAboutEXECUTIVE SESSION - 02/27/1996 - LITIGATION, LAND ACQUISITION/RELEASED RES NO 24-99 EXECUTIVE SESSION
Date February 27, 1996
Time 7:36 p.m.
TOPIC: LITIGATION PERSONNEL LAND ACQUISITION
VILLAGE BOARD VILLAGE BOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
D. GALLITANO G. PARRIN
President Village Manager
R. CHERNICK R. RUMMEL
Village Trustee Asst. Village Mgr.
1. PETRI S. NIEHAUS
Village Trustee Adminisrative Asst.
N. CZARNIK G. KNICKERBOCKER
Village Trustee Village Attorney
P. RETTBERG
Village Trustee
C. JOHNSON
Village Trustee
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 February 27, 1996,
this Executive Session was called to consider a litigation/land acquisition matter.
Number of pages attached: 1
Date(s) of review for release: luly 1996
Date of approval for release: 9'-28- 19
,Wea VV- SS
2/27/96
7:36 p.m.
LITIGATION/LAND ACQUISITION
The Village Attorney brought the Village Board up to
date on the status of negotiations to acquire the Grove Mall
and dismissal of the Serfecz lawsuit.
The Village Attorney stated that Serfecz had agreed to
a purchase price of $6. 15 million for the property,
excluding Burger King and Citgo. The Walgreens lease would
be the responsibility of the Village. The Village Attorney
stated that the Walgreens lease will cost the Village
$325, 000 less approximately $6, 500 each month after January
31, 1997.
Discussion took place regarding how the Village would
make payment and the approximate time at which Serfecz's
lawsuit against the Village would be dismissed.
Upon further discussion, the consensus of the Village
Board was to authorize the Village President, Village
Attorney, and Village Manager to negotiate the final details
of the purchase as outlined, including language which
provides for dismissal of the lawsuit once payment is put in
escrow prior to any money being drawn from the escrow
account by Serfecz.
The meeting adjourned at 7:45 p.m.
1k