Related and Windgrove ask to extend inspection period while village, schools and developer resolve reservoir parcel and closing protections
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Summary
Related and Windgrove Academy requested an extension of the inspection period (to Jan. 13 in the request discussed) for a roughly 70‑acre purchase and sale agreement while staff finalizes parcel breakouts, utility engineering and protections tied to a reservoir parcel and lift station; council emphasized protections for minimum purchase prices and simultaneous or otherwise protected closings with a hard closing date discussed for Feb. 20.
Council considered an add‑on update and a request from Related and Windgrove Academy concerning a purchase and sale agreement on a roughly 70‑acre site. Staff said the parties asked to extend the inspection period through Jan. 13 so they could finalize engineering and parcel mapping related to a parcel that currently houses a reclaimed wastewater pond (the reservoir) and a sanitary sewer lift station used to irrigate nearby parkland.
Staff explained the reservoir parcel will be incorporated into Related’s overall development plan, that Related will acquire the lift‑station portion, and that the village will receive an easement allowing it to operate and maintain the lift station (staff compared the approach to other easements the village holds). Council members raised concerns about acreage shifting from higher‑priced Related parcels to lower‑priced school parcels and noted that the PSA contains protections: minimum purchase price guarantees, deposit structures and provisions intended to avoid financial loss to the village if ownership changes.
Council discussed whether the requested extension should be the first January meeting or the council’s second meeting in January to ensure enough review time; several members emphasized they would hold firm on a contractual closing date mentioned by staff (February 20) and reiterated that deposits and simultaneous‑closing protections were part of the negotiated safeguards. Staff said they expected a substantive Fifth Amendment to reflect the finalized parcel breakout and that they did not intend to extend the inspection period further, though council asked staff to present a revised date and supplemental agenda language when the amendment is filed.