R-840 - 04/08/2003 - TAX - Resolutions Supporting DocumentsGE OF °ak
VILLAGE OF OAK BROOK
c - f CIO Village Board Transmittal Memorandum
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DATE: April 3, 2003
SUBJECT: Sale of Lots 1 and 2 in the Sports Core /Westchester Park Subdivision
FROM: Richard A. Martens
RECOMMENDATION: That the Village Board pass the attached Resolution 'authorizing
the sale of surplus public real estate (Lots 1 and 2 in the Sports
Core/Westchester Park Subdivision.)
Pursuant to your direction, I have drafted the attached Resolution, which once again declares Lots 1
and 2 in the Sports Core /Westchester Park Subdivision as surplus public real estate. This Resolution
provides that the Village will receive sealed offers to purchase each of these lots at not less than the
appraised value, which is $660,000.00 for Lot 1 and $560,000.00 for Lot 2.
I have .provided that offers to enter into a real estate sale contract are due by 5:00 p.m. on Wednesday,
June 25, 2003. We anticipate preparing a "Profile Sheet" for each of these lots and circulating the
Profile Sheets among local realtors. At last month's opening, the highest offers to purchase Lot 3 were
submitted by realtors. You will note that cooperating realtors receive a commission in the amount of
2.5 %. In this way, we hope to improve the marketability of these two remaining lots.
Please be aware that the corporate authorities by a two - thirds (2/3) vote may accept any offer embodied
in a real estate sale contract which is determined by them to meet the appraised value of the subject
property and to be in the best interests of the Village. State statute provides that the corporate
authorities) may accept an offer which is eighty percent (80 %) of the appraised value; pursuant to your
direction, the attached Resolution provides that the corporate authorities will not accept any offer for
less than the appraised value. The corporate authorities reserve the right to reject any and all offers.
I understand that you will consider this matter at your regular meeting on Tuesday, April 8, 2003.
I have also! attached a form of real estate sale contract for your information.
WORDDOC /BOARD MEMOS/LOTS 1 AND 2
.� 4Z
8 B. 1) The total appropriation for the Police Pension Fund is to be increased by
$96,915 The primary cause of the increase is that a nine -year police
officer left Village employment and took a position with another police
department. As allowed under State statutes, he elected to transfer his
service credit to the new department. This requires transfer of the
accumulated contributions of the officer, interest on the contributions (a
normal refund does not include interest), and the required Village
matching of both the contributions and interest. The service credit
transfer is rare (this was the first for Oak Brook) since there is usually a
significant actuarial shortfall that the transferring officer is required to
pay. For this reason we do not budget for these potential events and
instead would adjust the budget accordingly if one was to occur.
Trustee Korin inquired of the $84,675 cost in overtime in the Fire
Department. Chief Jarvis explained that two employees have been off
of work for an extended period of time and staff has had to cover their
hours. Trustee Korn asked if contract paramedics could be used to
lessen the cost of overtime. Manager Boehm stated that staff will
review this further as the Village is in contract negotiations with the
firefighters at this time.
Motion by Trustee Caleel, seconded by Trustee Korin, that the Village
Board approve Ordinance 2003- BU -EXI -S -1034, "An Ordinance
Authorizing Transfers Among Budget Line Items" authorizing transfers
among budget line items for the year ended December 31, 2002. ROLL
CALL VOTE:
Ayes 6 - Trustees Aktipis, Caleel, Craig, Korn, Miologos and Savino.
Nays. 0 - None.
Absent. 0 - None. Motion carried.
oRESOLUTION 2003- TX- PRPTY -EXP -R -840 "A RESOLUTION US 03- TX- PRPTY-
AUTHORIZING THE SALE OF SURPLUS PUBLIC REAL ESTATE SLp PUB RE (Lt�I
(LOTS 1 & 2 OF THE SPORTS CORE /WESTCHESTER PARK & 2 SPTS
SUBDIVISION)" CR/WSTCHSTR PK
SUB)
The Resolution declares Lots 1 and 2 in the Sports Core /Westchester
Park Subdivision as surplus public real estate. This Resolution provides
that the Village will receive sealed offers to purchase each of these lots
at not less than the appraised value, which is $660,000.00 for Lot 1 and
$560,000.00 for Lot 2.
VILLAGE OF OAK BROOK Minutes Page 6 of 14 Apnl 8, 2003
N,
8 B. 2) Offers to enter into a real estate sale contract are due by 5.00 p.m. on
Wednesday, June 25, 2003. Staff anticipates preparing a "Profile Sheet"
for each of these lots and circulating the Profile Sheets among local
realtors. At last month's opening, the highest offers to purchase Lot 3
were submitted by realtors. Cooperating realtors receive a commission
in the amount of 2.5 %. In this way, staff hopes to improve the
marketability of these two remaining lots.
The corporate authorities by a two - thirds (2/3) vote may accept any
offer embodied in a real estate sale contract which is determined by
them to meet the appraised value of the subject property and to be in the
best interests of the Village. State statute provides that the corporate
authorities may accept an offer which is eighty percent (80 %) of the
appraised value; pursuant to the Village Board's direction.
Trustee Korin questioned the 2.5% to the real estate broker The Board
then discussed accepting a bid less than the appraised value of the
property The Village Attorney stated the Board could remove the
realtor's commission. After discussion, the Board concurred with the
recommendation as presented and to accept bids at the appraised value
of the property.
Motion by Trustee Aktipis, seconded by Trustee Caleel, that the Village
Board approve Resolution 2003 -TX- PRPTY -EXP -R -840, "A
Resolution Authorizing the Sale of Surplus Public Real Estate (Lots 1 &
2 of the Sports Core /Westchester Park Subdivision)." ROLL CALL
VOTE:
Ayes: 6 - Trustees Aktipis, Caleel, Craig, Korin, Miologos and Savino
Nays: 0 - None.
Absent: 0 - None. Motion carried.
3) RESOLUTION 2003 -FI- FACS -SA -R -841 "A BANKING RES 03-FI- FACS -SA-
RESOLUTION" — AUTHORIZED SIGNATURES R -841 -A BNKNG
RES
Due to the appointment of Richard Boehm as Village Manager, it is
necessary to update the banking resolution with American National
Bank. The primary purpose of this document is to name the persons
authorized to transact Village banking business, which primarily
consists of check signing and wire transfers. All of the existing controls
remain in place, only that Michael Crotty has been replaced by Richard
Boehm.
VILLAGE OF OAK BROOK Minutes
-91,
Page 7 of 14 April 8, 2003