TRANSMITTAL LETTER FOR BOARD MEETING OF AUGUST 29, 2013
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to purchase real estate commonly known as 19 Stephen Street in Lemont, Illinois, comprising 0.09 acres relating to the construction of the Wet Weather Reservoir and the Wet Weather Treatment Facility at the Lemont Water Reclamation Plant and authority for payment to Timothy Jonasson, the owner of said real estate in an amount not to exceed $260,000.00, Account 401-50000-656010, Capital Improvement Bond Fund
Body
Dear Sir:
On June 6, 2013, the Board of Commissioners authorized the General Counsel to commence negotiations to purchase 19 Stephen Street in Lemont, Illinois relating to the construction of the Wet Weather Reservoir and Wet Weather Treatment Facility at the Lemont Water Reclamation Plant. The project will provide primary treatment and disinfection for combined sewer system overflows.
In connection with the execution of the above-referenced projects, it is necessary to acquire the fee simple estate upon, over, across, under and through the parcel of real estate located at 19 Stephen Street in Lemont to assist the District in the construction and operation of the project. The parcel is owned by Timothy Jonasson.
The property was valued at $270,000.00 based on an MAI appraisal commissioned by the District. An offer to purchase the parcel of land for $250,000.00 was made by the District. Mr. Jonasson responded with a counter-offer of $260,000.00. It is the opinion of the General Counsel that this amount should be paid, since it is lower than the appraisal amount.
Accordingly, it is requested that the Executive Director recommend to the Board of Commissioners that it adopt the following orders:
1. That the subject real estate be purchased by the District for the amount of $260,000.00 plus closing and title costs;
2. That the Chairman of the Committee on Finance and the Clerk be authorized and directed to execute the Real Estate Sales Contract and any other documents effecting the aforesaid purchase, after they are approved by the General Counsel as to form and legality; and
3. That the General Counsel be authorized and directed to execute and deliver all other documents and take such actions as may be necessary to effectuate said purchase and to attain possession of said property.
Requested, Ronald M. Hill, General Counsel; RMH:STM:MLD:ldl
Recommended, David St. Pierre, Executive Director
Respectfully Submitted, Mariyana T. Spyropoulos, Chairman Committee on Real Estate
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for August 29, 2013
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