Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: RES 17-638    Name:
Type: Resolution Status: Passed
In control: President and Board of Trustees
On agenda: 9/5/2017 Final action: 9/5/2017
Title: A Resolution Approving a Right of Entry Agreement with Lexington Homes, L.L.C. for Performing Survey Work and Environmental Inspections at 940-970 Madison Street and Authorizing Its Execution
Attachments: 1. Resolution - Right of Entry Agreement 08-28-17, 2. Right Entry Agreement
Submitted By
Tammie Grossman, Director Development Customer Services

Reviewed By
LKS

Agenda Item Title
Title
A Resolution Approving a Right of Entry Agreement with Lexington Homes, L.L.C. for Performing Survey Work and Environmental Inspections at 940-970 Madison Street and Authorizing Its Execution

End
Overview
Overview
On June 5, 2017, the Village named Lexington Homes, LLC the preferred developer for the Village owned property located at 940-970 Madison. The parties continue to negotiate the Redevelopment Agreement and will present it to the Village Board at a later date. At this time, Lexington Homes, LLC is seeking to access to the property to conduct a survey and preliminary environmental inspections.

Body
Staff Recommendation
Approve the Motion

Fiscal Impact
It is anticipated that the Redevelopment Agreement will provide for the purchase of the Village owned property located at 940-970 Madison Street, the demolition of the existing structure and any necessary environment remediation on Village owned property. All expenses are eligible Madison Street TIF expenses. Lexington has proposed a purchase price of $1,050,000.

Background
The Village owns the property located at 940-970 Madison Street. On January 22, 2015, the Village entered into an Intergovernmental Agreement with Oak Park School District 97(D97). The terms of the agreement provided that the Village would transfer ownership of 260 Madison Street to D97 and pay for the construction of a new district administrative office on 260 Madison. Once the new administrative office was completed, pursuant to the agreement, D97 transferred ownership of 970 Madison to the Village of Oak Park. To complete assemblage of the block, on or about June 1, 2015, the Village purchased the Robinson's Ribs property located at 932-946 Madison for $495,000.

On August 3, 2016, the Village Board directed staff to issue a Request for Proposals (RFP) for the Village owned property located at 940-970 Madison. On...

Click here for full text