Story posted Thursday, June 18, 2009
City Negotiates Lower Land Price With ComEd
After negotiations, ComEd accepted a counter offer from the city of Rolling Meadows that was less than half the opening price.
The city needed property at Golf and New Wilke roads for temporary and permanent easements due to the roadway improvement project. ComEd owned the land and on May 26, the city council authorized City Manager Sarah Phillips to pay up to the requested price of $48,608 for the property.
Phillips negotiated with the company and made a counter offer of $22,332.40, an offer ComEd accepted. She explained the company based their request on a square foot price it determined.
"We had an appraisal that had been done in the area and showed them it was a lower square footage price," Phillips said.
In addition, Phillips made an offer that allows ComEd to keep the property needed for the temporary easements.
"Those are just for us to work on it until we're done," she said.
The council approved the payment to ComEd at the meeting on Tuesday, June 9.
---Craig Adams
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