HomeMy WebLinkAboutRes 26-99 06/01/1999 RESOLUTION NO. 26-99
A RESOLUTION AUTHORIZING THE VILLAGE OF MOUNT PROSPECT
TO ENTER INTO NEGOTIATIONS FOR AN AGREEMENT FOR THE
PHASE lB DOWNTOWN REDEVELOPMENT WITH NORWOOD BUILDERS, INC.
WHEREAS, the Village of Mount Prospect is a home rule unit of local government located
in Cook County, Illinois; and
WHEREAS, the Village of Mount Prospect has formerly adopted a Tax Increment
Financing Program to upgrade the quality and image of a portion of the Northwest Highway
Corridor designated Downtown Redevelopment District Phase lB; and
WHEREAS, the Village of Mount Prospect has adopted a Downtown Strategic Plan as a
component of the Mount Prospect Comprehensive Plan; and
WHEREAS, the Village of Mount Prospect mailed Requests For Proposal for the
development of the Downtown Redevelopment District Phase lB; and
WHEREAS, the Village of Mount Prospect received three (3) proposals in response to that
Request For Proposal; and
WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect have
determined that the proposal submitted by Norwood Builders, Inc. is the most favorable
proposal submitted; and
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the Mayor and Board of Trustees of the Village of Mount Prospect
hereby authorize entering into negotiations for a Redevelopment Agreement for the
development of Downtown Redevelopment District Phase 1B with Norwood Builders, Inc.,
subject to the terms and conditions of the referenced Request For Proposal.
SECTION TWO: That if a Redevelopment Agreement is not entered into between the
Village of Mount Prospect and Norwood Builders, Inc. by the close of business on July 23,
1999, the proposal submitted by Norwood Builders, Inc. shall be deemed as rejected by
the Village.
age 2/2
Norwood, Phase lB
SECTION THREE: That this Resolution shall be in full force and effect from and after
its passage and approval in the manner provided by law.
AYES: Corcoran, Hoefert, Lohrstorfer, Wilks
NAYS: None
ABSENT: :Skowron ABSTAIN: Nocchi
PASSED and APPROVED this 1st day of June , 1999.
Gerald . arley ~J
Mayor
ATTEST:
Vel(ha W. Lowe ~-
Village Clerk
H:iGEN\files\WIN~RES\NO RWOO D.neg,l $.doc