Title/Name/Summary
Resolution Authorizing the Acquisition of Real Estate - 17250 110th Avenue
History
The Village has been working with the property owner to acquire the property at 17250 110th Avenue (PIN 27-29-300-011-0000). The Village contracted to have a survey completed of the property as part of the acquisition. The fee was never paid by the seller. The Village filed a lien on the property for the cost of the work, $5,500.
The Village is acquiring the property by deed-in-lieu of foreclosure on the lien. After approval of the resolution the Village will acquire the property free and clear of all liens and encumbrances pursuant to an Illinois statute permitting such acquisitions. The land will be incorporated into the Marley Creek Basin improvements planned for the surrounding Village-owned property. Other than the forgiveness of the $5,500 lien and the usual recording fees associated with a change in property ownership, there will be no acquisition expense to the Village.
Recommended Action/Motion
I move to adopt the Resolution, as fully presented.
(Full motion - not necessary to be read)
I move to adopt a Resolution entitled: "Resolution Authorizing the Acquisition of Real Estate,” for the property at 17250 110th Avenue.