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Council approves vacancy/foreclosure registry contract with Herrick Property Registry LLC
Summary
Council approved a two‑year professional services agreement with Herrick Property Registry LLC to manage a registry of vacant and foreclosed properties; the vendor will collect a $300 semiannual registration fee and remit proceeds to the city. Vendor Stan Urban told council the firm has a 97% collection rate on foreclosures.
Council voted unanimously to authorize a professional services agreement with Herrick Property Registry LLC to operate Pekin’s vacant and foreclosed property registry.
Nick McQuett, staff lead on the RFP, said two acceptable proposals were received and that Herrick scored highest in staff review. Under the proposed agreement each registered property would be charged $300 semiannually; Herrick would retain $125 per registration and remit the remainder to the city on the 15th of each month. “We collect money, we keep a little bit of it, and we send you a check every month,” vendor representative Stan Urban said, describing experience in other Illinois communities and noting a high collection rate on foreclosure accounts.
Staff said the contract is written as a two‑year agreement with options to extend and that the service would allow city staff to locate responsible parties, reduce legal and demolition time, and return properties to the tax rolls more quickly. The motion to adopt the resolution authorizing the agreement passed 6‑0.
