Title/Name/Summary
Orland Plaza Barber Shop - Tenant Relocation Payout
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 the Orland Plaza Barber Shop, which is located at 9644 W. 143rd Street. The Barber Shop is relocating to 14436 John Humphrey Drive, in Orland Park. Peter Santucci, the owner of the Barber Shop, has already applied for and received his building permits for his new location.
Based upon documented estimates received from Annette Favia, the Village’s relocation consultant, Mr. Santucci is eligible for a total relocation payment of $34,723.33. Please note this estimated payment does not include additional eligible costs for replacement printing, insurance during the move and reasonable and necessary professional services. These additional amounts, if applicable, will be added upon receiving actual documentation to support such costs.
In order to allow Peter Santucci to begin building construction at his new business location, he has requested a 50% advance payment of the eligible amount. He will use these funds to pay his contractors. Staff anticipates he will request another 25% upon significant work completed and the final 25% will be paid upon final close-out of the relocation claim. This will ensure the Village does not overpay for the actual relocation costs. The advance payment of 50% is $17,361.65.
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 $34,723.33 plus additional eligible costs for replacement printing, insurance and reasonable and necessary professional services. I also move t...
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