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Request for Proposals to Acquire City Owned Real Estate

Request for Proposals to Acquire City Owned Real Estate

By the City of LaSalle, LaSalle County, Illinois

Submission Deadline: Noon Friday, Jan. 24

The City of LaSalle, Illinois (hereinafter “City”) owns a tract of real estate within the corporate limits of the City and within the boundary of the City of LaSalle Tax Increment Financing District No. V (hereinafter the “TIF District”), which real estate is commonly described as 500 Second Street also having the LaSalle County Real Estate PIN No. 18-15-326-001 which property is more particularly known as LOTS 3 THRU 6 within BLK 121 of the original town now City of LaSalle;

 That any conveyance involved as part of this process may or may not include all public right of ways and/or public easements necessary to support the proposed redevelopment within the City of LaSalle, LaSalle County, Illinois with the City reserving any and all rights in regard to any necessary easements as well; (hereinafter all from time to time herein collectively referred to as the “property”) the City is interested in receiving requests for proposals on the City’s interest in said “property”;

The Illinois Tax Increment Allocation Redevelopment Act (hereinafter the “TIF Act”) authorizes the conveyance of municipal owned real estate in a manner and at such price as the municipality determines is reasonable and necessary to achieve the objectives of the TIF Redevelopment Plan and Project (65 ILCS 5/11-74.4-4).

The TIF Act further provides amongst other things that said conveyance must be made after the approval of an ordinance by the corporate authorities and after public disclosure of the terms of such proposed disposition and all bids and proposals received in response to the City’s Request for Proposals.

Therefore, it is authorized by the Mayor who has consulted with the Alderman on behalf of the City of LaSalle, LaSalle County, Illinois as follows:

  1. The City intends to consider conveying the “property”, again generally located at 500 Second Street, LaSalle, Illinois within the City of LaSalle, LaSalle County, Illinois. The City is hereby accepting Requests for Proposal from any party interested in acquiring said real estate.  Any such proposal submitted shall be in regard to the entirety of the “property”.

 

  1. Any party that is interested in acquiring such real estate shall submit a sealed proposal for said acquisition to: The City of LaSalle Deputy City Clerk, Brent Bader, at LaSalle City Hall, 745 Second Street, LaSalle, Illinois 61301. Any such proposal must be submitted and received at LaSalle City Hall on or before Noon Friday, January 24, 2024 . The City may consider and potentially award a successful proposal at the next regular City Council Meeting thereafter, and/or at any additional regular or special City Council Meeting, which City Council Meetings take place at LaSalle City Hall, 745 Second Street, LaSalle, Illinois; the City of LaSalle may also refer any proposal and/or proposals to committee, and/or take such other action as the City Council in the exercise of appropriate discretion deems just and appropriate in the circumstances.

 

  1. Proposals shall contain the offered price and additional proposed terms of closing including but not limited to terms of acquisition. For your further information, the “property” is zoned C-3, Central Business District, as said term has been defined and interpreted under the City of LaSalle Zoning Ordinances. For your further information the City will most likely require amongst other things that the “property” to be acquired be for use that includes a commercial enterprise at least on the ground floor. Proposals should include but need not be limited to the following:

 

  1. Description of planned use and/or uses;
  2. Proposed development plans, site plans, design as prepared, including input by a professional engineer/architect and/or otherwise qualified representative and/or entity;
  3. Timeline of construction and each phase of construction; including timeline in regard to completion of construction and each phase of construction, total proposed period within which to complete development;
  4. Exterior construction material description;
  5. Expected number of jobs created;
  6. Proof of plan in regard to financing;
  7. List of previous development projects completed;
  8. Estimated increase in fair-market value assessment of real estate upon completion of each phase of proposed project and timeline in regard to thereto;
  9. Estimated opening date of commercial enterprise;
  10. Estimate in regard to potential sales tax and/or motel/hotel tax to potentially be received on an annual basis in regard to the proposed uses in regard to the “property”;
  11. Any other information which is relevant to the valuation, size and scope of the project to be developed on the “property”;

Proposals shall be submitted again as indicated in care of Deputy City Clerk Brent Bader at LaSalle City Hall, 745 Second Street, LaSalle, Illinois 61301 during regular business hours and/or by mail. However, any proposals submitted by mail, must be received inside at LaSalle City Hall regardless of the manner of transmission of the proposal in sealed form on or before 4:00 p.m. Friday, January 24, 2024. Any questions regarding this matter shall be directed to City of LaSalle Director of Economic Development, Curt Bedei at (815)488-4442, and/or at c.bedei@lasalle-il.gov .

  1. The City of LaSalle retains the right to select any Proposal received in accordance with the requirements of the TIF Act, to negotiate changes to any Proposal received, to waive any requirements of formalities, and further to reject any or all Proposals received and/or portions thereof;

 

  1. The formal legal descriptions of the “property”, includes the following:

 

Lots Three through Six within BLK 121 of the original town, now City of LaSalle, LaSalle, Illinois, also having a LaSalle County Real Estate PIN NO. 18-15-326-001.

That any sale and/or transfer of the City’s interest in the “property” shall be “as is” with no representations and/or warranties of any kind or nature, the City additionally retains the right to include limitations or conditions in any ordinance and/or resolution related to the sale and/or transfer of the “property”, including potentially sanction clauses in regard to deadlines for completion of any proposed development, further including potentially rights of reversion or other sanctions should the successful proposer not complete the project or utilize the “property” as proposed in its submitted documents. The proposed use of the “property” following sale/transfer shall be a material factor in the City’s evaluation of the submitted proposal.

The City also reserves the rights said to review all proposals and determine which proposal is in the best interest of the City and the public based upon consideration of the TIF Act and all available information regarding the proposal including the prosed use of the property following acquisition, timeline for improvement of the property, as well as any other relevant factors. The City may accept the highest price, lowest price or any other pricing sole discretion as well as reserving the right to reject any and all proposals. The City reserves the right in regard to exercising appropriate discretion contract with any party in the City’s sole discretion, provided there is compliance with the TIF Act and applicable law.

The City shall not provide any property tax proration of the “property”. Immediately following any closing and transfer of the premises, the termination of existing property exemption will most likely be sought.

Any inspections of the premises by a potential purchaser regarding environmental due diligence will be at the expense of any potential purchaser and any potential transfer will again be stated “as is”.

Buyers’ customary costs will be paid and borne by the buyer as shall be any all costs of title insurance to be the potential buyer/transferees responsibility.

In the event of approval of a proposal with or without modification to the proposal as originally submitted as provided and allowed herein, any successful proposer shall be required to execute a contract.

Any party desiring a walk-thru of the “property” prior to the due date of the request for proposal should contact Curt Bedei-LaSalle Director of Economic Development at (815) 488-4442 to arrange that walk-thru.  

      LaSalle City Clerk-Amy Quinn