Yorkville Staff Recommending Purchase of Old FS Property Downtown

Yorkville staff is recommending the council approve the purchase the old FS property located in downtown Yorkville at 121 East Van Emmon. The City would purchase the property for $900,000 from Imperial Investments. The purchase price would be paid in six annual installments of $150,000. The first payment would be due at the anticipated closing date, in June 2024. The City’s intention would be to use the property as public open space. They would look to spend several million dollars to make improvements to the area. Some of the cost would include underground pollution remediation. The City had several ideas for the area, not previously made public, that include public parking, utilities & water main replacement, bandshell/pavilion, outdoor dining area, public art (mural), facade enhancements and other beautification projects. Yorkville would seek grants specifically designed for rebuilding downtowns and main streets to help fund the project. Approval will require a suppermajority vote by the City Council.