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Finance committee recommends sale of village parcel to Next Generation Development, advances resolution to board
Summary
At its Feb. 2 meeting the Orderly Administration Finance Committee voted to recommend Resolution 12R-26, which would authorize sale of a village-owned parcel to Next Generation Development LLC for $250,000 and advance the matter to the Feb. 17 board meeting. The committee also approved meeting minutes and a warrant totaling $995,481.21.
The Orderly Administration Finance Committee voted Monday to recommend approval of Resolution 12R-26, advancing a proposed sale of a village-owned parcel to Next Generation Development LLC and sending the item to the full board for consideration on Feb. 17.
The team director told the committee that the village reviewed proposals from two developers and selected Next Generation Development LLC to construct a 63-unit apartment complex on the property. "The agreement before you this evening allows administration to proceed with sale of the property for $250,000," the team director said, and added that Next Generation had "received a positive recommendation from the planning and zoning commission on January 26." The staff report also noted that the village…
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