Title/Name/Summary
Final Relocation Payment for Orland 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 finally received the required paperwork for the relocation of the Orland Park Bakery, now located at 14850 LaGrange Road.
Based upon documented paperwork received from Annette Favia, the Village's relocation consultant, the Bakery is eligible for a total relocation payment of $447,483.10. The Village already made a partial payment of $98,260 to the owner in 2011. The remaining balance of $349,223.10 is now ready to be paid, as all outstanding documentation has been received.
On December 16, 2013, this item was reviewed by the Development Services & Planning Committee and recommended for approval and referred to the Village Board of Trustees for consideration.
Financial Impact
Funds for this expenditure are budgeted in the Main Street Triangle TIF Fund.
Recommended Action/Motion
I move to approve of the final relocation payment in the amount of $349,223.10 for the Orland Park Bakery.