Title/Name/Summary
Downtown Triangle Development - Spaceco Contract Extension
History
In November 2018, the Village Manager’s office approved a Professional Services proposal from Spaceco, Inc. (Spaceco) for assisting Village staff with the Downtown Triangle development. The services include working with the staff, other Village consultants, and legal counsels to review Structured Development’s proposal and to provide staff requested professional consulting including but not limited to surveying, clarifying property lines, existing and proposed utilities, and other related consulting services.
Current Request
Spaceco has reached its maximum allowed fees and are now requesting an additional $20,000 in professional services fees to continue to support Village staff with the Downtown Triangle Development. This additional fee will be used for the same or similar services as mentioned in the paragraph above.
Due to the cancellations of Committee meetings for the month of May 2019, the staff is bringing this request directly to the Board. The staff supports Spaceco’s request for additional funding.
Financial Impact
Sufficient funds are available in the Main Street Triangle TIF Fund budget for this request.
Recommended Action/Motion
I move to approve the proposal from Spaceco, Inc. of Rosemont, Illinois to provide consulting services for the Downtown Triangle Development in an amount not to exceed $20,000.