Title/Name/Summary
Tenant Relocation Payments - Orland Park Bakery
History
As part of the acquisition of the Orland Plaza, the Village of Orland Park is required to pay for relocation costs for affected businesses. The Village follows regulations in accordance with the Uniform Relocation and Real Property Acquisition Policies Act of 1970. The Village has finalized the estimated relocation costs for the Orland Park Bakery, which is located at 14250 Ravinia Avenue. The Bakery is relocating to 14850 S. LaGrange Road, in Orland Park. Dan and Thomas Major, the owners of the Bakery are in the process of receiving their building permits for the new location.
Based upon documented estimates received from Annette Favia, the Village’s relocation consultant, the Orland Park Bakery is eligible for a total relocation payment of $196,519. Please note this estimated payment does not include eligible search fees (maximum of $2,500), additional eligible costs for replacement printing, insurance during the move and reasonable and necessary professional services. These additional amounts, if applicable, will be added upon receiving actual documentation to support such costs.
In order to allow them to begin construction at the new business location, they have requested a 50% advance payment of the eligible amount. The remaining amount due will be advanced upon significant work completed and submittal of required documentation.
The Development Services Committee recommended approval (3-0) on November 21, 2011.
Financial Impact
Funds for this expenditure are budgeted in the Main Street Triangle TIF Fund.
Recommended Action/Motion
I move to approve the estimated total relocation payment in the amount of $196,519 plus additional eligible costs for search fees (maximum of $2,500), replacement printing, insurance and reasonable and necessary professional services;
And
I move to approve 50% of advance payment of the eligible costs in the amount of $98,260 to the Or...
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