Agenda Item # 10.d.
City Commission Regular Meeting
- Meeting Date:
- 07/05/2016
- Re
- Award of Bid No. 2016-026
- Submitted For:
- Rebecca Grohall
SUBJECT:
Approve award of Bid No. 2016-026 to dispose of Surplus Property located approximately at 401 Indian River Drive to the highest rank responder TAI LLC/TMH LLC, 266 Park Drive, Palatine, IL 60067.
SUMMARY:
Only one bid package was received, from the adjacent property owner Mike Abinati as President of TAI LCC and TMH LLC. If the City Commission concurs, this item will come back to the Commission for the July 18th meeting with a Resolution authorizing a Quit Claim Deed.
Mr. Abinati offered to build the improvements on Citrus Avenue to construct a public access waterfront park with a kayak launch OR the cash purchase price of $48,575.00 (appraised value). TAI and TMH LLC's are the adjacent property owners and this parcel is proposed to be utilized in conjunction with the Indian River Villas project. Proposing 23 residential units on the Indian River, benefits to the City include employing approximately 35 people during construction (12-18 months) and a development that will add to the ad valorem tax base. The proposed improvements to Citrus Ave right of way include a kayak launch pad that will further the public's access to the waterfront, as well as improvements to the storm water system and parking. The Citrus Avenue right of way will be retained by the City, the applicant's team will improve the property on behalf of the City.
Mr. Abinati offered to build the improvements on Citrus Avenue to construct a public access waterfront park with a kayak launch OR the cash purchase price of $48,575.00 (appraised value). TAI and TMH LLC's are the adjacent property owners and this parcel is proposed to be utilized in conjunction with the Indian River Villas project. Proposing 23 residential units on the Indian River, benefits to the City include employing approximately 35 people during construction (12-18 months) and a development that will add to the ad valorem tax base. The proposed improvements to Citrus Ave right of way include a kayak launch pad that will further the public's access to the waterfront, as well as improvements to the storm water system and parking. The Citrus Avenue right of way will be retained by the City, the applicant's team will improve the property on behalf of the City.
RECOMMENDATION:
Staff recommends the disposition of this property to the responder, represented by Mike Abinati, in exchange for their proposed off-site improvements on Citrus Avenue valued at approximately $248,000.
ALTERNATIVES:
- Approve the transaction for the appraised price $48,575 in lieu of improvements to Citrus Avenue
- Reject the proposal and provide direction to Staff
RESPONSIBLE STAFF:
Rebecca Grohall, Planning Director
COORDINATED WITH:
Jim Messer, City Attorney
Linda Cox, City Clerk
Linda Cox, City Clerk
Fiscal Impact
- Budgeted Y/N:
- N
- Fiscal Year:
- 2016
- Account:
- See below
- Amount:
- See below
FISCAL IMPACT:
The City will receive a positive net fiscal impact through the dispositon of this property to the adjacent property holder for development.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | Johnna Morris | 06/28/2016 12:29 PM |
| City Manager | Nick Mimms | 06/29/2016 01:29 PM |
- Form Started By:
- rgrohall
- Started On:
- 06/22/2016 04:07 PM
- Final Approval Date:
- 06/29/2016