Title/Name/Summary
159th Street and LaGrange Road - Purchase of Property
History
The village has been in court proceedings relating to condemnation of property for the 159th Street and LaGrange Road improvement. Recently the court ruled on just compensation for The Pep Boys property, OFZ0020 & TE. The final amount of compensation was ruled at $39,000; the village already deposited $29,000 with the Treasurer of Cook County as a result of the Order Fixing Preliminary Just Compensation. The village will need to deposit the remaining $10,000 to the Cook County Treasurer; we will be reimbursed by the State of Illinois for these funds.
Financial Impact
Funds are budgeted in the FY07-08 for this purpose.
Recommended Action/Motion
I move to approve payment to the Treasurer of Cook County in the amount of $10,000.00 to complete Final Compensation for property required due to the widening of 159th Street and LaGrange Road relating to OFZ0020 & TE Pep Boys property.