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R-01-02RESOLUTION NO. R -0-02 RESOLUTION APPROVING FINAL JUDGMENT ORDER (TOUHY LUMBER) WHEREAS, the Village of Deerfield is authorized to acquire real estate, including the right to exercise eminent domain if necessary, for the purpose of acquiring real estate for downtown redevelopment purposes pursuant to the provisions of 5/1 -61 -1 and 5/11- 74.4-4 of Chapter 65 of the 1996 Compiled Statutes; and WHEREAS, by Ordinance No. 0- 98 -21, the Village of Deerfield authorized the acquisition of certain real estate within the southwest quadrant of the Village Center Project Area for the purposes of downtown redevelopment; and WHEREAS, pursuant to Ordinance No. 0- 98 -21, an action in eminent domain was filed to acquire a certain parcel of land described in Ordinance No. 0 -98 -21 and commonly known as 612 Waverly Court, Deerfield, Illinois ( Touhy Lumber); and WHEREAS, said eminent domain action is currently pending in the Circuit Court of Lake County, Illinois, as Village of Deerfield v. Touhy Lumber et.al., No. 98 ED 22 (hereinafter "Litigation "); and WHEREAS, the trial court determined the amount of preliminary just compensation to be $550,000.00, and the Village had deposited the amount of this preliminary just compensation with the County Treasurer and has been vested with the fee simple title to this property; and WHEREAS, the President and Board of Trustees of the Village of Deerfield had previously authorized special counsel for the Village of Deerfield, Joseph T. Morrison, to take such other actions as may be required in the litigation to determine the final amount of just compensation; and WHEREAS, after pre -trial conference, the defendants have agreed to settle all matters in controversy and the corporate authorities of the Village of Deerfield desire to approve said settlement under the terms and conditions set forth in the Settlement Stipulation attached hereto as Exhibit "A." NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OFTHEVILLAGE OF DEERFIELD, LAKEANDCOOKCOUNTIES, ILLINOIS, AS FOLLOWS: SECTION The terms and conditions of the Settlement Stipulation, a copy ONE: of which is attached hereto as Exhibit A, are acceptable to and hereby approved by the Village of Deerfield.. 6e SECTION Special counsel for the Village of Deerfield, Joseph T. TWO: Morrison, is hereby authorized and directed to obtain a final order which authorizes the refund of the amount of excess preliminary just compensation of $60,000.00 and is authorized to take any other further steps as may be necessary to finally conclude this matter. AYES: Harris, Ragona, Rosenthal, Seiden, Swanson (5) NAYS: None (0 ) ABSENT: Heuberger (1) PASSED this 2nd day of April, 2001. APPROVED this 2nd day of April, 2001. . 1 �Ty a�� Villfte Clerk - -2- Village President IN THE CIRCUIT COURT OF THE NINETEENTH JUDICIAL CIRCUIT, LAKE COUNTY, ILLINOIS VILLAGE OF DEERFIELD, a municipal corporation, Plaintiff, vs. I reV14 : 101 M CHICAGO TITLE and TRUST COMPANY, a corporation of Illinois, AS TRUSTEE UNDER TRUST AGREEMENT DATED MARCH 17, 1967 AND KNOWN AS TRUST NUMBER 50407; TOUHY LUMBER COMPANY, INC., an Illinois corporation; and UNKNOWN OWNERS, Defendants. FINAL SETTLEMENT STIPULATION NOW COMES the Plaintiff, VILLAGE OF DEERFIELD, by and through its attorneys, Morrison & Morrison, P.C., and the Defendant/Owner, Chicago Title and Trust Company, as trustee under Trust Agreement dated March 17, 1967, and known as Trust No. 50407 (hereinafter "Owner"), by its attorneys Ryan and Ryan, and Defendant/Lessee.TOUHY LUMBER COMPANY, INC., an Illinois corporation (hereinafter "Lessee ") by and through its attorneys, Foran, Nashar & O'Toole, and hereby stipulate and agree as follows: 1. On October 21, 1998, Plaintiff filed its Complaint for Condemnation to acquire fee simple title to the property commonly known as 612 Waverly Court, Deerfield, Illinois, as legally described in the Complaint for Condemnation. 2. All of the Defendants to this proceeding have been served with process or have entered their appearances, and this Court has jurisdiction of the subject matter of this proceeding and all parties. 3. Plaintiff filed a Motion for Immediate Vesting of Title, and on May 4, 1999, this Court entered an order granting the Motion for Immediate Vesting of Title and determining the preliminary amount of just compensation to be FIVE HUNDRED FIFTY THOUSAND DOLLARS ($550,000.00). 4. The Plaintiff has deposited the preliminary amount of FIVE HUNDRED FIFTY THOUSAND DOLLARS ($550,000.00), and on July 1, 1999, was vested with fee simple title to the real estate described in the Complaint to Condemn. 5. The parties have now agreed that the complete, total and final just compensation to be paid by the Plaintiff for the taking of the property described in the Complaint to Condemn shall be FOUR HUNDRED NINETY THOUSAND DOLLARS ($490,000.00). 6. The Plaintiff has already deposited the sum of FIVE HUNDRED FIFTY THOUSAND DOLLARS ($550,000.00) with the Treasurer of Lake County, and the parties agree that within 30 days of the date of the final judgment order, Owner shall pay to the Plaintiff the sum of SIXTYTHOUSAND DOLLARS ($60,000.00), said amount representing the amount of excess just compensation previously paid by the Plaintiff. 7. The Owner /Lessee hereby release and forever discharge the VILLAGE OF DEERFIELD from any and all claims and demands of any type or nature arising out of the taking of the property described in the Complaint to Condemn. 8. Plaintiff waives any claim for the payment of interest or costs on the excess amount of preliminary just compensation. 9. The parties hereby waive any right to a view of the premises, trial by jury, and consent to an entry of a judgment order in accordance with this stipulation. -2- 10. After the deposit of preliminary just compensation, the Owner was allowed to withdraw the entire amount of that preliminary just compensation. The parties agreed that any claims of the Lessee would be determined as part of any final settlement stipulation and judgment in this matter. 11. The parties have now agreed that the Owner shall pay to the Lessee the sum of THIRTY THOUSAND DOLLARS ($30,000.00) as full and complete satisfaction of any and all claims which the Lessee may have in this matter. The parties have agreed that the payment by Owner to Lessee of THIRTY THOUSAND DOLLARS ($30,000.00), shall be in addition to the SIXTY THOUSAND DOLLARS ($60,000.00) which Owner has agreed to refund to the Plaintiff, and therefore the total amount of payment to be made by the Owner underthe terms of this Stipulation is NINETY- THOUSAND DOLLARS ($90,000.00). 12. For and in consideration of the payment of THIRTY THOUSAND DOLLARS ($30,000.00) by Ownerto Lessee, the Lessee hereby releases and forever discharges the Owner from any and all claims and demands of any type or nature arising out of the taking of the property described in the Complaint to Condemn. 13. All parties to this Stipulation agree that this Settlement Stipulation has been entered into voluntarily, and all parties have had the advice of counsel prior to the execution of this Stipulation, and that the respective attorneys for each party have been authorized to execute this Stipulation. ix- Joseph T. Morrison, Attorney for Plaintiff 1911 Prepared by: Joseph T. Morrison MORRISON & MORRISON, P.C. 32 N. West St. Waukegan, IL 60085 847 -244 -2660 Attorney No. 6182078 By William Ryan, Attorney for Defendant/Owner, Chicago Title and Trust, et al. By John Foran, Attorney for Defendant/Lessee, Touhy Lumber Company -4- RESOLUTION NO. R -01 -03 RESOLUTION AUTHORIZING A REALLOCATION OF SURPLUS TAX INCREMENT FINANCING FUNDS WHEREAS, the Corporate Authorities of the Village of Deerfield, pursuant to the provisions of Chapter 65, Section 5/11- 74.4 -4, et sec., Illinois Compiled Statutes, the Tax Increment Allocation Redevelopment Act (the "Act ") established two tax increment financing districts within portions of the Village of Deerfield located within both Cook County and Lake County, Illinois, designated as Lake Cook Road Tax Increment Financing District ( "TIF 111) and Village Center Tax Increment Financing District 2 ( "TIF 211); and WHEREAS, the areas included in TIF 1 and TIF 2 are contiguous to each other; and WHEREAS, Chapter 65, Section 5/11- 74.4 -4(q) of the Act provides that any monies received by a tax increment financing district and not required for the payment and securing of obligations of such tax increment financing district and /or redevelopment project costs may be transferred to a contiguous tax increment financing district; and WHEREAS, following a review of the proposed redevelopment projects and attendant costs in TIF 1 and TIF 2, the Corporate Authorities have determined that pursuant to the provisions of the Act that Surplus Funds are currently available in TIF 1 which would be more effectively used in TIF 2. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS, AS FOLLOWS: SECTION That any Surplus Funds presently existing in TIF 1 in ONE: accordance with the Act be and are hereby declared Surplus Funds available for transfer to TIF 2 as a contiguous Tax Increment Financing District. SECTION That pursuant to Section One hereof the Finance Director of TWO: the Village of Deerfield has determined that the sum of $2,500,000 and held by TIF 1 is Surplus Funds and is no longer required for use pursuant to the provisions of the Act. SECTION That the Finance Director of the Village of Deerfield is THREE: hereby directed to follow the statutory provisions for the reallocation of Surplus Funds from TIF 1 to TIF 2 and to take the required steps to promptly insure the redistribution of Surplus Funds to TIF 2. SECTION That the Village Clerk shall provide such certified copies of FOUR: this Resolution as may be required for the purposes of effectuating the redistribution of Surplus Funds in the manner set forth above. SECTION That this Resolution shall be in full force and effect from FIVE: and after its passage in the manner provided by law. AYES: Harris, Ragona, Rosenthal, Seiden, Swanson (5) NAYS: None (1) ABSENT: Heuberger (1) PASSED this 2nd day of April A.D., 2001. APPROVED this 2nd day of April A.D., 2001. VIL E PRESIDENT ATTEST: VIT-11AGE CLERK I RESOLUTION NO. R -01 -06 WHEREAS, it is the desire of the Village of Deerfield to hold its annual Fourth of July Parade on Illinois State Route 43, on Wednesday, July 4, 2001 at 11:45 A.M.; and WHEREAS, said parade will require the closing of Illinois State Route 43 from the intersection of Route 43 and Osterman Avenue north to Greenwood Avenue, either partially or completely; and WHEREAS, the State of Illinois requires the Village to assume all responsibility and liability involved in closing of said highway: NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF DEERFIELD: RESOLVED this 18th day of June, A.D. 2001.