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APPROVING ACQUISITION OF REAL PROPERTY FOR FABYAN PARKWAY INTERSECTION IMPROVEMENTS AT SETTLERS HILL AND KINGSLAND DRIVE, KANE COUNTY SECTION NO. 21-00373-01-CH, PARCEL NO. 0005 AND 0005TE
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WHEREAS, the County of Kane (County) is authorized pursuant to the Illinois Compiled Statutes, 605 ILCS 5/5-801 (2020), to acquire real property for highway purposes by negotiated purchase; and
WHEREAS, the County has developed right-of-way plans for Kane County Highway No. 8 (“Fabyan Parkway”) at Settlers Hill and Kingsland Drive for a proposed improvement, more particularly described as Kane County Sec. No. 21-00373-01-CH (hereinafter the “Project”); and
WHEREAS, the Project right-of-way plans require the acquisition of Project Parcel No. 0005, in fee simple and a temporary construction easement identified as Project Parcel No. 0005TE, the legal descriptions of each parcel being identified in Exhibit “A” (A copy of which is on file in the office of the Kane County Clerk”); and
WHEREAS, BCORE Defender IL1B01, LLC f/k/a CIVF V - IL1BO1, LLC, a Delaware limited liability company, is the property owner of Parcel No. 0005 and 0005TE and has offered to sell the parcel and temporary easement rights for the sum of Sixty-Two Thousand Dollars ($62,000.00).
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that the County of Kane accept the offer of BCORE Defender IL1B01, LLC f/k/a CIVF V - IL1BO1, LLC, a Delaware limited liability company, the Property Owner of Parcel No. 0005 and 0005TE, in the total amount of Sixty-Two Thousand Dollars ($62,000.00), of which Thirty-Seven Thousand Dollars ($37,000.00) shall be paid from South Impact Fee Fund #560, Line Item #74010 (Highway Right-of-Way), and Twenty-Five Thousand Dollars ($25,000.00) shall be paid from Transportation Sales Tax Fund #305, Line Item #74010 (Highway Right-of-Way) and the chairman of the Board is hereby authorized and directed to execute any and all associated documents consistent with the aforemen...
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