TO: Mayor and City Council
FROM: Beth Beatty, City Manager
SUBJECT:
title
Resolution Authorizing Approval and Execution of a Real Estate Sales Agreement for the Purchase of Real Property (12550 Bell Road)
end
BACKGROUND:
The Alternative Water Source Program to deliver Lake Michigan water to Joliet and the Grand Prairie Water Commission (GPWC) member communities will require significant waterworks system improvements. These improvements include the addition of regional pumping stations and storage tanks at new sites which will require the acquisition of real estate.
One of these sites is located at 12550 Bell Road in Lemont. This location will include a regional pump station, a water storage tank and space for future water storage tanks that will be owned by the GPWC.
In February 2022, the City entered into a Preliminary Agreement Regarding Formation of a Regional Water Commission. In this agreement, the City of Joliet is identified as the Program Manager and is responsible for contracting for development of the Program which includes land acquisition for water commission improvements.
The City, in its role as Program Manager for the GPWC, conducted negotiations per the Uniform Relocation Assistance and Real Property Acquisition Act with the owner, Chicago Title and Trust Company, and negotiated a purchase price, in the amount of $2,150,000.00, which will be paid for with funds from the Alternative Water Source Program Fund - Regional Water Commission (Org 53180000, Object 557100). Costs associated with this work will be credited back to Joliet's contribution to the water commission.
Address Tax ID # Purchase Price
12550 Bell Road 22-26-401-007-0000 $2,150,000.00
RECOMMENDATION:
recommendation
The Administration recommends the Mayor and City Council adopt the attached Resolution (a) approving and authorizing the Mayor and City Clerk to execute and seal the Real Estate Sales Agreement for the Purchase of Real Property at 12550 B...
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