The Village of Mahomet will vote to approve the purchase of three lots, one at 206 South Lincoln and the others at 408 and 410 East Dunbar for $355,000 during Tuesday’s Village Board meeting.
The lot at 206 E. Lincoln and 410 E. Dunbar will close at $255,000 on or before July 1, 2021; the property at 408 W. Dunbar St. will close at $100,000 on or before July 1, 2022.
The Village has been leasing 410 E. Dunbar since September 1, 2020. The agreement, for $900 a month ended on Feb. 28, 2021. That decision was never voted on by the Board of Trustees but was discussed when questioned by a trustee earlier this year.
The Village rented the property in order to hold onto it as they decided whether or not to purchase it. Village Administrator Patrick Brown said that the purchase would help the Village align the property with the downtown master plan, which indicates townhouse or row house development.
According to the board packet for Tuesday, the Village plans to create a Request for Proposal, with desired criteria established and then offer out to firms and developers for proposals based on the criteria established. The packet states, “purchase is the only way to facilitate the downtown master plan’s key feature of the mews and its adjacent rowhouses.”
Once the Village establishes the 24-28 feet “mews” or in this case an “improved alleyway”, the additional land will be sold to a developer for the row houses.
Village administration asks the board, though, to approve three contracts to purchase three properties that would secure ownership of the land for the mews; assure control over future development of the “backside” of downtown Main Street businesses; facilitate area stormwater improvements, and provide open land area off of Lincoln Avenue and Elm Streets for any Village needs over the next few years.
The purchase of the property and improvements are TIF eligible expenses, according to the packet.
Mills Property Group, LLC purchased 206 South Lincoln for $37,500.00 in 2015, while Nathan and Matt Mills purchased 408 Dunbar for $75,011.00 in 2016 and 410 Dunbar for $55,000.00 in 2010.
