The Commercial-News, Danville, IL

Local News

November 12, 2013

Oakwood council considers taking over site

OAKWOOD — Much of Monday night's Oakwood village board meeting centered around the former truck stop site located north of the Oakwood/I-74 interchange.

Mayor Robert Jennings said he believes there is interest in the site for future development. However, the property is in foreclosure and is a possible Brownfield site.

Jennings said he has learned that if the village had ownership of the property it could be cleaned up with Illinois Environmental Protection Agency funding.

According to P. Stephen Miller, village attorney, the current lien holder is Cranberry Financial LLC, a private equity firm. Miller said Cranberry Financial began foreclosure proceedings in 2008 against Excellent Petroleum Inc., owner of the property.

However, Miller said Cranberry Financial has not taken ownership of the property because of concerns over the possible contamination of the property.

Cranberry Financial has appointed a receiver for the property, Millennium Properties of Chicago, to dispose of the property.

After much discussion, trustees felt that before they proceed with any efforts to obtain the property, that it needed a real estate appraisal done of the property to determine its value.

To that end, board members approved an agreement with James Webster Appraisals of Champaign to conduct an appraisal at a cost not to exceed $2,500. Webster is an MAI appraiser, which the village is required to use under state statutes.

In other board action, trustees:

Will advertise for bids for a new ambulance for the Oakwood EMS. Bids for the new ambulance will be accepted until 4 p.m. Dec. 2.

Approved a three-year lease for the village's 18.2 acres of farm land with John and Brant Miller. The Miller's will pay the village $331 per acre each year for the farm land.

Accepted a donation on behalf of the July 4th celebration committee from Obie's Arctic Chill in the amount of $300.

Village board members will meet next at 6:30 p.m. Dec. 9 at the village hall.

    

    

   

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