TRANSMITTAL LETTER FOR BOARD MEETING OF MARCH 15, 2018
COMMITTEE ON STORMWATER MANAGEMENT
Mr. David St. Pierre, Executive Director
Title
Authority to enter into an Intergovernmental Agreement with the Village of Franklin Park, Illinois and Cook County Land Bank Authority for the acquisition of 32 flood-prone properties in the Village of Franklin Park, with payment to the Cook County Land Bank Authority in an amount not to exceed $4,681,280.00, Account 401-50000-612400, Requisition1489295
Body
Dear Sir:
Authority is requested to enter into an Intergovernmental Agreement (IGA) with the Village of Franklin Park (Franklin Park), Illinois and Cook County Land Bank Authority (Land Bank) for the acquisition of 32 flood-prone properties, with payment to the Land Bank in an amount not to exceed $4,681,280.00.
Subsequent to adopting a policy on the selection and prioritization of projects for acquiring flood-prone property by the Board of Commissioners on August 7, 2014, the Engineering Department invited each municipality and township within Cook County to submit preliminary applications for potential flood-prone property acquisition projects. From this solicitation, Franklin Park was one of six projects identified that met the requirements of the District’s policy. In 2015, Franklin Park was invited to submit a final application which included a benefit-cost analysis and certification that Franklin Park was willing to fulfill the duties of a local sponsor included in the District’s policy.
The flood-prone properties identified by Franklin Park in its application were recommended by the Engineering Department for acquisition, and on March 3, 2016, the Board of Commissioners granted authority to negotiate an IGA with Franklin Park for the acquisition of those properties. During the negotiation process, Franklin Park determined it needed additional financial and technical assistance beyond what the District could offer. With funding available through Cook County’s Community Development Block Grant Disaster Recovery program, the Land Bank was identified as a partner capable of providing both financial assistance and staff to facilitate the acquisition and conversion to open space of the properties. On February 15, 2018, the Board of Commissioners amended the granted authority for the District to negotiate an IGA with Franklin Park for the acquisition of flood-prone properties to include Cook County Land Bank Authority. Franklin Park, the Land Bank, and the District have agreed in principle to the terms of the IGA, which include payment by the District towards the acquisition of 32 flood-prone properties in an amount not to exceed $4,681,280.00. The terms of the IGA also require the Land Bank and Franklin Park to obtain appraisals, prepare offers, perform closings, deconstruct all purchased structures and restore property to open space, and ensure long term maintenance of the property.
Based on the foregoing, it is requested that the Board of Commissioners grant authority for the District to enter into an Intergovernmental Agreement with the Village of Franklin Park and the Cook County Land Bank Authority and make payment to the Land Bank in an amount not to exceed $4,681,280.00 for the acquisition of 32 flood-prone properties, and that the Chairman of the Committee on Finance, Executive Director, and Clerk be authorized to execute said IGA on behalf of the District, as well as any documents necessary to effectuate the transaction and conveyance, upon approval by the Director of Engineering as to technical matters and by the General Counsel as to form and legality.
Funds are available in Account 401-50000-612400.
Requested, Catherine A. O’Connor, Director of Engineering, WSS:JK
Recommended, David St. Pierre, Executive Director
Respectfully Submitted, Debra Shore, Chairman Committee on Stormwater Management
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for March 15, 2018