Submitted By
Tammie Grossman, Director of Development Customer Services
Reviewed By
LKS
Agenda Item Title
Title
A Motion to Designate Orson and Keri Morrison as the New Preferred Developers of the Village Owned Property at 6641-43 North Ave. Oak Park, Illinois as Recommended by the Oak Park Economic Development Corporation (Oak Park EDC) and Direct Staff to Negotiate a Redevelopment Agreement
End
Overview
Overview
On October 11, 2017, the Village issued the Request for Proposals for the property located at 6641-43 North Ave. The Village received two responses to the proposal. The Oak Park EDC reviewed the proposals and recommended that the Village move forward with one of the proposals. Subsequently, that developer withdrew their proposal. The EDC is now recommending moving forward with the purchase offer from Orson and Keri Morrison.
Body
Staff Recommendation
Adopt the Motion.
Fiscal Impact
The Village would receive $20,000 for the property.
Background
On August 1, 2014, the Village entered into a warranty deed in lieu of foreclosure for the purchase of 6641-43 North Ave, Oak Park, Illinois. After acquiring the property, the Village contracted to demolish the building and perform necessary environmental clean-up for a total of $206,956.25.
The Village engaged the services of a Real Estate Broker to list the property for sale. On May 3, 2016, the Village entered into a broker agreement with David King & Associates which expired May 3, 2017. The property was listed for a sale price of $145,000. The Village received no offers.
On August 28, 2017, Oak Park EDC recommended that the Village issue a Request for Proposals (RFP) for the purchase of the property. On October 11, 2017, the Village issued the Request for Proposals. The Village received two responses to the proposal. (See attached proposals). The Oak Park EDC is recommended that the Village accept the proposal from 2 Fools Cider.
On February 5, 2018, the Board approved the recommendation ...
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