TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 20, 2024
COMMITTEE ON STORMWATER MANAGEMENT
Mr. Brian A. Perkovich, Executive Director
Title
Authority to enter into an intergovernmental agreement with and make payment to the Village of Buffalo Grove for the acquisition of flood-prone properties in Buffalo Grove (24-IGA-03), in an amount not to exceed $2,100,000.00
Body
Dear Sir:
Authorization is requested to enter into an intergovernmental agreement (IGA) with and make payment to the Village of Buffalo Grove (Village) for the acquisition of flood-prone properties in Buffalo Grove (24-IGA-03), in an amount not to exceed $2,100,000.00.
Per the policy on the selection and prioritization of projects for acquiring flood-prone property adopted by the Board of Commissioners on August 7, 2014, the District solicited proposals between October 2023 and January 2024 from municipalities, townships, and other governmental agencies for District assistance. From this solicitation, the Village’s application was one of two projects identified that met the requirements of the District’s policy.
The flood-prone properties identified by the Village in its application were recommended by the District for acquisition, and on March 7, 2024, the Board of Commissioners granted authority to negotiate an IGA with the Village.
The Village and the District have agreed in principle to the terms of the IGA, which include payment by the District towards the acquisition of seven flood-prone properties depicted in the attached exhibit, in an amount not to exceed $2,100,000.00. The terms of the IGA also require the Village to obtain appraisals, prepare offers, perform closings, deconstruct all purchased structures, restore the properties to open spaces, and ensure long-term maintenance of the properties. The Village anticipates acquiring the properties in 2024 and 2025.
Based on the foregoing, it is requested that the Board of Commissioners grant authority for the District to enter into an IGA with and make payment to the Village in an amount not to exceed $2,100,000.00. It is further requested 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 for 2024 are available in Account 501-50000-612400. Funds requested in subsequent years are contingent on the Board of Commissioners’ approval of the District’s budget for that year.
Requested, Catherine A. O’Connor, Director of Engineering, KMF:JK
Recommended, Brian A. Perkovich, Executive Director
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for June 20, 2024
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