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1940 North Brush College Road <br /> The appraisal performed by CMT set the fair market value at$99,900. During the negotiations,the <br /> owner obtained their own appraisal using an Illinois Department of Transportation approved <br /> appraiser who found some property purchases that had occurred after the prior appraisal. The new <br /> appraisal valued the property at $200,000. This appraisal was reviewed by CMT and found to be <br /> proper in accordance with Federal and State requirements. The owner agreed to sell at the new <br /> appraisal price. A memo from CMT is attached that details the negotiation process required by the <br /> State and Federal Governments for right of way purchase for Federally funded projects. As part of <br /> the process,the City will be required to assist in the relocation of the owner and tenants of the <br /> property. Those costs will not be known until the relocation is completed but are estimated to be <br /> $50,000 at this time. <br /> 3925 East Faries Parkway <br /> The appraisal performed by CMT set the fair market value at $133,600. After negotiation, an <br /> agreement was made with the owner to sell the property to the City for$164,600. A memo from <br /> CMT is attached. As part of the process, the City will be required to assist in the relocation of the <br /> owner and tenants of the property. Those costs will not be known until the relocation is completed <br /> but are estimated to be $30,000 at this time. <br /> Vacant Property Immediately to the West of 3925 East Faries Parkway <br /> The appraisal performed by CMT set the fair market value at$5,400. After negotiation, an <br /> agreement has been made with the owner to sell the property to the City for that price. A memo from <br /> CMT is attached. The lot is vacant, and no relocation expenses are allowed. <br /> POTENTIAL OBJECTION: There are no known objections. <br /> INPUT FROM OTHER SOURCES: Crawford, Murphy& Tilly, Inc. <br /> LEGAL REVIEW: The agreements are standard IDOT documents. <br /> STAFF REFERENCE: Matt Newell, Public Works Director. Matt will attend the City Council <br /> meeting to answer any questions of the Council on this item. <br /> SCHEDULE: DESIGN AND CONSTRUCTION: <br /> This purchase will be executed upon approval by the Council. Construction for the Brush College <br /> improvement is planned to begin in 2021. <br /> BUDGET IMPLICATIONS: <br /> Budget Impact: The resolutions authorize the combined expenditure of$450,000 in State Motor <br /> Fuel Tax funds. These funds will be reimbursed at 100%by a State of Illinois Jobs Now! grant. <br /> Staffing Impact: Staff time is allocated to manage this project. <br /> Attach: 8 <br /> cc: Crawford, Murphy& Tilly, Inc. <br /> � 2 � <br />