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Council OKs sale of 1209 Washington Street for $40,000
Summary
The council passed ORD. 05-04-26A to sell municipally owned property at 1209 Washington Street to Art Riewaldt for $40,000 under the Illinois TIF Act; the vote was unanimous.
Alderman Holland introduced ORD. 05-04-26A authorizing the sale of municipally owned property at 1209 Washington Street to Art Riewaldt for $40,000. The ordinance, described in the minutes as being conducted pursuant to the Illinois Tax Increment Allocation Redevelopment Act (TIF ACT), passed by roll-call vote with all present alderpersons voting aye.
The sale was presented as an economic development action to be carried out in conjunction with surrounding lots for a Jimmy John’s sandwich shop; the city clerk and city attorney will complete title commitments and closings as part of the administrative process.
