Title
Assignment of Contract to Alpha Construction - Approval
History
The Board previously approved awarding the 2012 Road Improvement Program to Alpha Construction Co. Alpha is in the process of a potential sale of its assets, including the Orland Park 2012 Road Improvement Program Contract, to D. Construction Co. The terms of the sale have not yet been finalized but we have been advised that the sale will take place in the near future. Therefore, Alpha has asked that the Village approve and execute the attached Consignment of Contract and Consent to Assign that would approve the sale, assignment, transfer and/or set over unto D. Construction Co., 1488 S. Broadway, Coal City, Illinois 60416 ("ASSIGNEE") all rights, title, interest, and obligations of that certain "Village of Orland Park 2012 Road Improvement Program" Contract, by and between The Village of Orland Park and Alpha Construction Company dated, June 6, 2012 (the "Contract").
This agenda item is being considered by the Public Works & Engineering Committee and the Village Board of Trustees meeting on the same night. Village Board approval will be contingent upon receiving an approval recommendation at the Public Works & Engineering Committee meeting.
Financial Impact
Not applicable.
Recommended Action/Motion
I move to approve the Consignment of Contract and Consent to Assign transferring all rights, title, interest and obligations of the 2012 Road Improvement Program Contract between the Village of Orland Park and Alpha Construction Company to D. Construction Co., subject to final legal review.