09/20/2010 Meeting Minutes - Laserfiche WebLink

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Regular Council Minutes September 20, 2010 Page 14 think we have to recognize that we have to take one step at a time. The Library will invest $11-12 million. Historically, this would have been something we would have been looking to our local constituency to support and we are not in that position today. I think it is an absolute advantage to the Village that we are in a position where land that was going to be used very passively for public purposes will be put into the public trust for what should be a state-of- the-art facility where the money is being invested by the dollars gleaned through a levy that is County-wide. I think this is a wonderful way for the public to support public works. We still have to resolve things with Progressive, but as we look at a site plan and we get a better understanding of the physical impact of this property, we clearly will have to go through a permitting process, but I am sure that given the tenor of discussions to date, we will come out of this with what should be a really exceptional development. And in terms of getting evaluation, sometimes you have to watch out what you wish for, I think that we are in a better situation today by being able to look to the land utilized as it is utilized. Ultimately, it's the arm's length transactions and the dollars spent on those transactions that impact the value. I think in the long run we will find out that we are getting the most value out of this acreage and the appraisal is secondary. As a supplement what the Mayor is saying, Mr. Diemert stated that there is no obligation between public agencies to go out for bids nor is there an obligation to get appraisals. It is presumed that the taxpayers on both sides are going to be receiving the benefit. For instance, if we sell an old fire truck to another municipality, there is no requirement to go out and ask for the highest and best bidder because it's being sold or given to another public agency. Also, the deeds, the plans and all of the documents relative to this matter have always been on public file, are available for everyone to look at and examine and always have been. With the property involved, as the Mayor indicated, we still have somewhat of a requirement to transfer it at some point to Progressive for nothing further in return to us. Instead they have given their consent for the transfer of the property for the purposes of the public library. I believe that is accurate. Mayor Rinker confirmed. Council President Buckholtz referred to the letter received by Progressive, a copy of which is attached to these Minutes. Referring to the letter, Mayor Rinker stated it is from Ron Marotto, the Vice-President of Real Estate and the primary individual with whom we negotiated the Development Agreement several years ago. Mayor Rinker read the referenced letter into the record: