A. The village staff shall cause to be presented to the village board of trustees the vacation request and staff's recommendation for approval, approval in part, or denial of said vacation request. Staff's recommendation is to be based on a summary of comments from the superintendent of public works, engineer and a representative from building and zoning per the criteria established in the Beach Park road vacation engineering study dated March 2005, as prepared by RHMG Engineers, Inc. Prior to the recommendation being presented to the village board of trustees, the petitioner(s) shall pay the petition filing fee as provided in the fee schedule of the village, as amended.
B. The village board of trustees shall vote on the recommendation of vacation. An affirmative vote of at least three-fourths (3/4) of the members of the village board is required to grant a vacation.
C. Upon the affirmative vote of the village board of trustees to vacate village property, the approved vacation will be conveyed by quitclaim deed of vacation upon full payment to the village for the vacated property. Except in special cases, as determined by the village board of trustees, payment for vacated property shall be based on the "fair market" value of the property, as determined in subsection D of this section. In village board of trustees approved special cases, the village board may establish a vacation cost different from the "fair market" value.
D. Except for the special cases noted in subsection C of this section, the village board of trustees shall not grant a vacation of a public street until and unless the petitioner(s) has tendered to the village the full fair market value for the right of way real estate to be vacated. For purposes of this section, "fair market value" means the average of assessed values of adjoining properties, per acre, multiplied by the area of the street to be vacated (expressed "per acre" and for fractions thereof), multiplied by a factor of three (3) with the result divided by the number of adjoining property owners in proportion to the frontage each property owner owns to the total vacated parcel. The following example illustrates the method to be used to calculate street vacation cost. It has been assumed that the vacation will be divided amongst four (4) property owners. The same methodology would apply for more or less adjoining property owners.
First half of right of way for owners 1 and 2.
Owner 1: Lot size 108' x 135' = 14,580 square feet
Assessed value $6,401.00
Owner 2: Lot size 120' x 135' = 16,200 square feet
Assessed value $7,106.00
Value per square foot:
Owner 1: $6,401.00/14,580 = $0.44/square foot
$0.44/square foot x 3 = $1.32/square foot
Owner 2: $7,106.00/16,200 = $0.44/square foot
$0.44/square foot x 3 = $1.32/square foot
Value of right of way:
Right of way 60' wide x 135' long.
60' x 135' = 8,100 square feet x $1.32/square foot = $10,692.00
Cost per linear foot:
Adjoining properties: 108' + 120' = 228'
$10,692.00/228' = $46.90/foot
Owners' cost:
Owner 1: 108' x $46.90 = $5,065.00
Owner 2: 120' x $46.90 = $5,628.00
The second half of the right of way would be calculated in the same manner for owners 3 and 4. (Ord. 2014-O-36: Ord. 2012-O-20)