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Three Oaks council approves sale of 112 N. Elm and restores millage under Truth in Taxation
Summary
The Three Oaks Village Council approved Ordinance No. 250 authorizing the sale of the village parking lot at 112 N. Elm and adopted Resolution 06-2026-01 to restore authorized millage rates, preserving roughly $18,000 in property tax revenue for village operations and street funding.
The Three Oaks Village Council on June 10 approved the sale of the village parking lot at 112 N. Elm and adopted a Truth in Taxation resolution to restore previously authorized millage rates.
Faulkner told the council that closing on the sale of 112 N. Elm was scheduled for June 11, 2026, and that Ordinance No. 250 authorizes completion of the transaction and execution of all necessary closing documents. Council moved approval of the ordinance; the motion carried. Ayes were Niemzyk, Thomas, Hinman, Jones and Springer; Kramer and Graziano were recorded as absent.
Finance staff member Hilmer reviewed the Truth in Taxation requirements that triggered the process after recent increases in taxable value. Hilmer said the Village would collect about $18,000 less in property tax revenue if it did not adopt a resolution restoring the authorized millage. The council approved Resolution 06-2026-01, establishing a General Fund millage rate of 7.8595 mills and a Street Fund millage rate of 3.1436 mills; the motion to adopt the resolution passed on the council vote.
The ordinance vote authorizes village officials to execute closing documents for the 112 N. Elm sale; the resolution restores the Village's authorized levy so budgeted operations and street funding are maintained at their prior level. No council member voted nay, and no abstentions were recorded.
The council did not provide detailed sale-price information in the minutes beyond the scheduled closing date. Tom Pauly had asked during public comment for clarification on the sale price and also urged the Village to publish meeting recordings online; the minutes record Pauly’s request but do not record a reply with the sale price. The council next meets July 8, 2026.
