HomeMy WebLinkAboutEXECUTIVE SESSION - 04/06/1994 - LAND ACQUISITION/RELEASED RES NO 29-95 �v
EXECUTIVE SESSION
Elk Grove Village
Date April 6, 1994
Time 7:50 p.m.
TOPIC: Litigation_ 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, R. Farrell,
Village Trustee Admin. Assistant
R. Chernick D. Olson
Village Trustee Personnel Ofcr.
P. Rettberg G. Xnickberbocker
Village Trustee Village Attorney
C. Johnson
Village Trustee
J. Petri,
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 April 6, 1994 this Executive Session was called to
consider a land acquisition matter.
Number of pages attached: 1
Date(s) of review for release: 6/94 a'6 �
Date of approval for release: �L -
5 �D
4/06/94
7:50 p.m.
LAND ACQUISITION
The Village President reported on discussions he has had with
Alexian Brothers Medical Center and George Gullo to conceptually
site an affordable senior housing complex at the Northeast
intersection of Wellington Avenue and Biesterfield Road. To
develop the project, the Village would need to enter into a joint
venture where: 1) The Village would own the property; 2)
Alexian Brothers Medical Center would design, market, and manage
the development; and 3) Gullo would construct the facility.
Currently, the property costs are so high that it would make the
project unaffordable.
The cost for the Village to acquire enough property to make
the project feasible is estimated at between $750,000 and
$1 ,000,000. Village participation would allow Village residents
to have first priority on entering the facility.
The consensus of the Board was to develop a firm cost for the
Village to engage in this project before making any commitments.
The meeting adjourned at 8:35 p.m.