TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 14, 2017
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to purchase the real estate commonly known as 4432 W. 147th Street in Midlothian, IL for the construction of the Flood Control Project on Natalie Creek in Midlothian and Oak Forest Illinois and authority for payment to Palos Bank and Trust, as Trustee under the Trust Agreement known as Trust Number 1-3533, the owner of said real estate, in an amount of $159,500.00, and closing costs, Account 501-50000-656010, Stormwater Fund
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Dear Sir:
On September 1, 2016, the Board of Commissioners (“Board”) adopted Ordinance No. R16-005 establishing the right-of-way for the Flood Control Project on Natalie Creek (‘Project”) located in Midlothian and Oak Forest Illinois (Contract 14-252-3F). Said Ordinance authorized and directed the Executive Director to negotiate with the respective owners to acquire fee simple or such lesser interests, as appropriate, in and to the real-estate described in the Ordinance. On June 15, 2017, the Board adopted Ordinance R17-001, which amended R16-005 to include additional tracts on which temporary and permanent easements are required.
The Project consists of upsizing restrictive culverts, widening the channel at several locations, creating a new stormwater storage basin along the creek, and will protect over 237 properties from overbank flooding. The project requires the acquisition of one vacant parcel adjacent to Natalie Creek for the construction of the new stormwater storage basin.
The vacant parcel is owned by Palos Bank and Trust under the trust agreement known as Trust Number 1-3533, dated October 29, 1993. The parcel is located at 4432 W. 147th Street in Midlothian, Illinois, comprising 2.20 acres. The District and the property owner have reached a negotiated price for acquisition in the amount of $159,500.00 for the fee simple title to the property. This amount is within the range of value for the subject property based on the fair market value appraisals obtained by the District and property owner.
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 acquired by the District for the negotiated purchase price of $159,500.00, plus closing costs; and
2. That the Chairman of the Committee on Finance and the Clerk be authorized and directed to execute the Real Estate Sales Contract effecting the aforesaid purchase, after it is approved by the General Counsel as to form and legality; and contingent upon the Village of
Midlothian executing the IGA for the Project; and
3. That the General Counsel be authorized and directed to execute and deliver all other documents and take such other actions as may be necessary to effectuate said purchase and to attain possession of said property.
Funds are available in Account 501-50000-656010, Stormwater Fund.
Requested, Marcella V. Landis, Acting Director of Engineering, WSS:JK
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 September 14, 2017
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