By a vote of 4-2, the Oak Park village board agreed last week to spend the next four months working with the Taxman Corporation on a plan that could result in the redevelopment of much of the southwest quadrant of downtown.
The board’s decision focused specifically on extending the deadline of a “put-call” agreement, signed by the village and Taxman in 2001. That agreement pertains only to redeveloping the site occupied by the Colt building, 1138-1146 Westgate/Lake Street. But at a meeting Thursday, Taxman officially agreed to include for discussion all property it owns in the area bounded by Harlem Avenue and Marion Street, Lake Street and North Boulevard. In total, Taxman owns some 60 percent of the land in that quadrant.
The developer has also agreed, as part of any redevelopment plan, to “revise the architecture” of the Shops of Downtown Oak Park, which include Old Navy, The Gap, Pier One, and other retail space along Harlem and Lake.
If the board and Taxman cannot make sufficient progress on crafting a redevelopment plan by Oct. 31, the village has the right to buy the Colt building for $5 million. After that date, Taxman can also force the village to purchase the property, according to the terms of the put-call agreement.
Sy Taxman, company owner, told village board members in May that if they did not agree to work with his company on a development plan by June 30, he would require that the village buy the building.
Tim Hague, president of Taxman, said Friday he was pleased with the board’s decision, which included amendments requiring that the developer begin a “public process” to gather input. That process is expected to be guided by the village board.
“We’re looking forward to working with village hall and community groups in the next 120 days to see what type of collaborative plan we can come up with,” Hague said.
Taxman has not put forward a specific redevelopment proposal for the area. However, one concept presented to the board in May included demolishing the Colt building, and constructing a mixed-use project. Constructing a parking garage on the village-owned surface lot at North Boulevard was also included in the presentation.
At a special board meeting June 30, Trustees Robert Milstein and Geoff Baker abstained from voting on the extension, while the remaining four board members voted in favor of moving ahead.
“I’m not in favor negotiated agreements. We’re going down the Whiteco path. The image, vision, for that part of downtown has to come from the board, and the people of Oak Park,” Milstein said. “I’m sure Mr. Taxman has great projects, but if any developer says they’ll take their ball and run, I say there are many other suburbs you can go to.”
Village President David Pope, who criticized the put-call agreement during his recent campaign, said last week he was prepared to vote against extending the agreement. However, Pope reversed his decision after he was assured that other properties in the area?#34;specifically the Shops of Downtown and associated parking lots?#34;were up for discussion.
Including those properties, he said, meant Taxman could bring more opportunities to the table than a developer just responding to a Request For Proposal (RFP).
“I’m not a big fan of negotiated agreements. It makes sense if [a developer] has a clearly unique advantage over other developers,” he said. “The strongest benefit [Taxman] possesses is ownership of the Shops of Downtown Oak Park and parking lots. Those footprints seem to me an opportunity to look at redevelopment opportunities that might meet the threshold of a unique offering that nobody else could provide.”
Trustee Greg Marsey also expressed some reservations about extending the agreement, and about crafting a negotiated agreement with one developer, but ultimately voted in favor of it.
“The bottom line for me is really the bottom line. I’m not prepared tonight to write a $5 million check,” he said. “Extending this agreement doesn’t prevent us from walking away.”
Though the majority of board members voiced concerns regarding the agreement, the strongest support for the vote came from Trustees Martha Brock and Ray Johnson.
“The village of Oak Park is constantly changing. I’d like to see you be a part of that,” Brock told Taxman. “I like your professionalism and your honesty. I do not see you as a chosen developer, but as someone who has a history in the village.”
“I believe it’s in our best interest to move forward with the next steps. We have a willing participant at the table to work with us, and start a full, frank discussion with the public,” said Johnson.
Three speakers commented on the put-call agreement last week, with Downtown Oak Park President Mike Fox being the only person to speak decisively in favor of the board taking action.
“I’m not here to speak specifically to the put-call agreement. I’d like to see that go forward. What we have been seeing a lot of is inaction and the Colt building is a prime example of that,” he said. “This is prime real estate in downtown. More than anything, we’d like to see something happen.”
Resident Mike Iverson said the board should issue an RFP for the site, rather than agree to work with only one developer.
“I’m not an advocate for action for the sake of action. The public has not been allowed to view the master plans [proposed by Taxman for the area],” he said. “This is a negotiated agreement with a single development team. This is exactly the same thing we did with Whiteco. Please end the negotiated agreement path.
CONTACT: kgrayson@wjinc.com