(A) Purchase price. The minimum purchase price for a single parcel shall be $1,000. All offers that conform with the requirements of the Tax Reactivation Program shall be submitted to the President and Board of Trustees for consideration. The President and Board of Trustees, in their sole discretion, may accept or reject the offer. All offers and accompanying documentation must conform to the requirements of the Tax Reactivation Program. Acceptance of a bid and authorization for the sale of a parcel shall be by approval of a Resolution by a simple majority vote of the President and Board of Trustees.
(B) Public utilities and easements. If public utilities, street lighting, sanitary or storm sewers, fire hydrants and related water service lines, public sidewalks or any other above or below grade infrastructure or public improvements (the “public facilities”) are located within any portion of the parcel to be sold, the Village shall reserve in the quitclaim deed, a public utility or sidewalk easement of sufficient size to accommodate the repair, replacement, or maintenance of the public facilities or the installation of additional public facilities. The Village Engineer, in his or her discretion, shall determine the size of the required easement area. The quitclaim deed will not remove or release any existing non-Village easement rights or other conditions of public record that are enforceable by other persons or private or public entities.
(C) Other costs.
(1) Following approval of the authorizing resolution, the applicant shall, within 48 hours of such approval, make an initial deposit with the Village $4,500. The purpose of the initial deposit shall be to provide a $1,000 deposit towards the purchase price, along with funds to reimburse the Village for fees, costs and expenses incurred in the course of preparing, processing, approving and carrying out the conveyance of the property, including but not limited to title and closing costs and fees, survey costs, the preparation of the quitclaim deed and resolution approving the deed, other conveyance documents, the preparation of a redevelopment agreement, the mailing of any notices required under this chapter, legal fees incurred by the Village relative to the conveyance, including the preparation of any of the foregoing document, and any filing or recording fees charged by the County Recorder of Deeds or any other governmental agency.
(2) The applicant remains obligated to pay, prior to or at closing, the balance of the purchase price, as well as the balance of total actual fees and costs incurred by the Village under the Tax Reactivation Program, including any title commitment, closing costs or legal fees in excess of the amount of the initial deposit. The balance of any deposit, if any, after the actual incurred costs and fees are satisfied, shall be promptly returned to the applicant at or following the closing.
(3) Once the deposit is received, the Village Attorney will order a title commitment and the Village Engineer will evaluate the parcel relative to the Village’s need to retain certain types of easements or the necessity to relocate any public facilities or to install a sidewalk in the parcel. There may be public or private easements or conditions of title that affect the parcel, but if the Tax Reactivation Purchaser desires to acquire the parcel, he or she will take subject to such encumbrances. The Village Attorney will deliver to the applicant or to his or her attorney copies of the title commitment and the Village Engineer’s written recommendation relative to the necessary easements or conditions that the Village will require as part of the sale.
(Ord. CO-02-17, passed 6-17-2002; Am. Ord. CO-2012-14, passed 8-21-2012)