1020.02  VACATIONS.
   (a)   Application.  Property owners considering making a request for the vacation of Village right-of-way adjacent to their property should first consult with Village staff regarding procedures, codes, feasibility, price, and other related information before completing an application for said vacation.  Upon receipt of the completed application, the Village staff shall schedule a public hearing by the Plan Commission in conformance with public hearing requirements in Sections 1262.09 and 1262.10 of the Village Code.
(Adopting Ordinance)
   (b)   Feasibility.  Village staff shall evaluate, and the Plan Commission shall make findings in regard to, the potential future use of the right-of-way for street, alley, trail, recreation, buffer, utilities, drainage, flood control, environmental protection, or any other public purposes, which may or may not be addressed in the adopted Comprehensive Plan of the Village, that would be lost if the right-of-way were to be vacated and turned over to private use. The Plan Commission shall make a recommendation in regard to the proposed vacation, which shall be forwarded to the Village Council.
   (c)   Offer/Price.  The Village Council shall determine whether to offer to vacate the right-of-way, subject to the retention of any easements deemed to be in the public interest, including, but not limited to, utility easements, conservation easements, and pathway easements.
      (1)   In cases where the request is for the vacation of one-half of the right-of-way along one side of a single-family lot, and the vacation would not result in the creation of a new, additional, buildable single-family lot, the consideration to be paid to the Village in regard to such right-of-way vacation shall be twenty thousand dollars ($20,000).
      (2)   In cases where the request is for the vacation of both halves of the right-of-way along one side of a single-family lot, where the result would not be the creation of a new, additional, buildable single-family lot, the adjacent property owners shall each be given the opportunity to request vacation of one-half of the right-of-way, with the consideration to be paid to the Village by each adjacent property owner, in regard to such right-of-way vacation, to be twenty thousand dollars ($20,000).  If one of the adjacent property owners declines to proceed with the vacation of one-half of the right-of-way adjacent to said property owner's property, then said other adjacent property owner may proceed with the vacation of the full right-of-way, with the consideration to be paid to the Village in regard to such full right-of-way vacation to be thirty thousand dollars ($30,000). In the case of such a full right-of-way vacation request by only one adjacent owner, the entire right-of-way shall be vacated to only the adjacent owner who pays the thirty thousand dollars ($30,000).
      (3)   In cases where the request is for the vacation of right-of-way that would result in the creation of a new, additional, buildable single-family lot, the consideration to be paid the Village shall be determined on a case-by-case basis, by the Village Council, with the benefit of an appraisal prepared at the direction of the Village, provided the property owner requesting said vacation deposits the estimated appraisal cost with the Village prior to the Village proceeding with the appraisal.
      (4)   Notwithstanding the fact that a proposed right-of-way vacation is subject to subsection (3) above, in the event that the owner(s) of the property that is adjacent to the right-of-way to be vacated (hereinafter the "adjacent property"), who will obtain title to the right-of-way upon vacation thereof (hereinafter the "adjacent owner"), has indicated in writing to the Village that said adjacent owner does not presently desire to create the new, additional, buildable single-family lot, the consideration to be paid for said right-of-way vacation shall be as set forth in subsection (1) or (2) above; provided, however, that the adjacent owner consents to the creation of a covenant running with the land, in a form acceptable to the Village, that provides for the payment, by the owner of record of the adjacent property, prior to the approval of any subdivision or tax division that creates a new, additional, buildable single-family lot, using all or any portion of the adjacent property and/or the vacated right-of-way, of the difference between the consideration to be paid for the right-of-way that was vacated, as determined pursuant to subsection (3) above as of the date of the filing of the subdivision or tax division petition that would create a new, additional, buildable single-family lot, and the amount paid by the adjacent owner at the time of the vacation of the right-of-way.
   The dollar amounts set forth in paragraphs (c)(1) and (2) above, shall be subject to periodic review and adjustment by amendment to this section.
   (d)   Acceptance.  Upon the property owner agreeing to pay the consideration set forth within subsection (c) above, the Village shall cause the necessary plats and other documents to be prepared for vacation of the right-of-way, provided the property owner first deposits with the Village the amount estimated by the Village to cover the costs for document and plat preparation, recording costs, and all third party fees necessary to complete the transaction, pursuant to Chapter 208 of the Village Code.
(Ord. 2011-11.  Passed 3-14-11; Ord. 2011-43.  Passed 11-14-11.)