THE JOURNAL & TOPICS NEWSPAPERS | WEDNESDAY, APRIL 19, 2006
Council Pushes Through Phase III Deal
By DWIGHT ESAU
Journal Reporter
Like an itch they can't scratch, or a posse they can't elude, the Baldacchino lawsuit continues to dog the trail of Park Ridge's Uptown redevelopment project.
But Phase III of the $120 million development moved ahead anyway Monday night (Apr. 17). Aldermen unanimously approved a contract with Valenti Builders that identified the city's share of $981,195 for excavation of the former water reservoir site at Touhy Avenue and Northwest Highway to prepare the site for construction of a parking garage by Valenti.
The amount was the lowest of three bids received for the work.
At the Apr. 3 meeting of the city council's Public Works Committee, and again Monday night at the full council meeting, Charles Baldacchino was present and made statements that his lawsuit against the Uptown project may lead to a court decision stopping the work.
"Phase III may not happen as you envision and you may be wasting all this money by making this decision now, " he said. "You might want to defer this until the court proceedings have been completed before you waste your money now."
The council did not respond to his comments and simply approved the Valenti contract. The city and Valenti plan to proceed with the excavation and begin construction on the garage on the Phase III site in June.
In response to the lawsuit, and at the request of LaSalle Bank, the city has guaranteed a LaSalle loan to PRC Partners for up to $4 million, in case the lawsuit is successful. This guarantee has persuaded LaSalle to approve a loan to PRC so the work may proceed.
Meanwhile, construction is proceeding fairly rapidly on two other phases of the Uptown project - the rowhouses and townhomes at Meacham and Touhy, and the commercial-residential building at Meacham and Northwest Highway. The latter building will house a specialty grocery store on the ground floor and condos on two upper floors.