01-21-05 Redevelopment Commission Minutes

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6. NEW BUSINESS (CONT.) H. Northeast Neighborhood Development Area (1) continued... offering price. Mr. Laurent noted that there is an outstanding proposal for Lot 8 in the Oliver Industrial Park related to this transaction. Mr. Hunt asked about the release of Lot 8 in the Oliver Industrial Park. Ms. Greene responded that communication had taken place with the attorney representing the seller in this transaction. Counsel relayed to him a request that his client release any right to the Oliver Plow Court property and that request was agreeable. If the Commission authorizes the preparation of additional documentation for the transaction, Counsel will have it executed at the closing of January 21, 2005. Upon a motion by Mr. Hunt, seconded by Mr. Blake and unanimously carried, the Commission approved a request for Agreement for Sale and Purchase of Real Estate in the Northeast Neighborhood Development Area (1340 South Bend Avenue; Macri Development, Inc.) Upon a motion by Mr. Hunt, seconded by Mr. Blake and unanimously carried, the Commission authorized Counsel to prepare additional documentation related to the Agreement for Purchase and Sale of Real Estate pertaining to the release of any claim on the Oliver Plow Works property. Upon a motion by Mr. Hunt, seconded by Mr. Blake and unanimously carried, the Commission authorized Counsel to execute IL 20 COMMISSION APPROVED A REQUEST FOR AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE IN THE NORTHEAST NEIGHBORHOOD DEVELOPMENT AREA (1340 SOUTH BEND AVENUE; MACRI DEVELOPMENT, INC.) COMMISSION AUTHORIZED COUNSEL TO PREPARE ADDITIONAL DOCUMENTATION RELATED TO THE AGREEMENT FOR PURCHASE AND SALE OF REAL ESTATE PERTAINING TO THE RELEASE OF ANY CLAIM ON THE OLIVER PLOW WORKS PROPERTY. COMMISSION AUTHORIZED COUNSEL TO EXECUTE ADDITIONAL DOCUMENTS PRESENTED AND RELATED TO THE AGREEMENT FOR PURCHASE AND SALE OF REAL ESTATE AT THE JANUARY 21, 2005 PROPERTY CLOSING.