Title/Name/Summary
Tenant Relocation Payment - Frontier Construction
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 Frontier Construction, which is located at 9638 W. 143rd Street, in the lower level. Frontier Construction, is relocating to 7615 Plaza Court, in Willowbrook, Illinois.
Based upon documentation received from Annette Favia, the Village’s relocation consultant, Frontier Construction is eligible for a total estimated relocation payment of $63,345. Please note this estimated payment does not include additional eligible costs for replacement printing, reasonable and necessary professional services, search fees not to exceed $2,500 and tenant build out not to exceed $10,000. These additional amounts, if applicable, will be added upon receiving actual documentation to support such costs. Frontier Construction has requested a 50% advance payment to allow for work to commence. The advance payment is for $36,673 and includes $5,000 for tenant build-out.
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 $63,345 plus additional eligible costs for replacement printing, reasonable and necessary professional services, search fees not to exceed $2,500 and tenant build out not to exceed $10,000 - provided such documentation is provided;
And
Move to approve 50% advance payment in the amount of $36,673.