HomeMy WebLinkAboutEXECUTIVE SESSION - 04/11/2017 - Land Acquisition (4)EXECUTIVE SESSION
April 11, 2017
6:24 p.m.
Chernick Conference Room
TOPIC: Q LITIGATION 0 PERSONNEL X LAND ACQUISITION
VILLAGE BOARD
MEMBERS PRESENT
C. JOHNSON
Mayor
N. CZARNIK
Village Trustee
P. FEICHTER
Village Trustee
J. FRANKE
Village Trustee
S. LISSNER
Village Trustee
J. PETRI
Village Trustee
C. PROCHNO
Village Trustee
VILLAGE BOARD
MEMBERS ABSENT
M. JABLONSKI
Assistant Village Manager
STAFF PRESENT
R. RUMMEL
Village Manager
M. ROAN
Deputy Village Manager
G. KNICKERBOCKER
Village Attorney
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 11, 2017, this Executive Session was called
to consider a Land Acquisition matter.
Number of pages attached: 1
Date(s) of review for release: November 2017
Date of approval for release:
Date approved by Village Board: July 18, 2017
April 11, 2017
6:24 p.m.
Land Acquisition
The Mayor advised the Board that he met with the Brennan Investment Group on April 8 to
discuss the development of the Busse Farm, the five residential homes, as well as the Costello
and Pecora properties. The Mayor advised Brennan that the Village would no longer be seeking
property for the new Public Works facility. Moreover, the Village would be providing them with
the Oakton Fire Station in order the make the development cohesive. In exchange for donating
the Fire Station, the Village would be reimbursed with proceeds generated through the proposed
TIF District.
It was agreed at the meeting that TIF proceeds would be split 50150 with the developer until they
received their agreed upon reimbursements. Their ask at the meeting was $20 million dollars,
but that was before they were advised that they would have access to the entire 85 acre site.
Brennan still needs to prove a need to the Village with reimbursable TIF expenditures. Brennan
indicated that they would initially construct speculative buildings along the Higgins Road
frontage. The consensus of the Board was for staff to continue working with Brennan to keep
the project moving forward.
The meeting was adjourned at 6:28 p.m.