ACTION REQUESTED:
Title
Communication from the City Manager and Corporation Counsel with a Request to RECEIVE and FILE an Appraisal Assistance AGREEMENT with the CEO COUNCIL.
Body
BACKGROUND: The CEO Council and City staff have been negotiating an Agreement relative to the provision of money or a loan for the City to expend for purposes of hiring consultants and experts to examine whether the City should undertake the purchase of the Peoria Division of the Illinois American Water Company.
The CEO Council Appraisal Assistance Agreement has been circulated to the City. The parties are still working towards agreement and the final agreement should be completed soon. The intent would be to present the agreement for discussion prior to taking final action.
As a reminder the Agreement must be acted on prior to November 1, 2018 to exercise the Purchase Option of the Water Company in a timely manner.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: N/A
IMPACT IF DENIED: N/A
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Keep taxes and fees competitive.
2. Invest in our infrastructure and transportation.
DEPARTMENT: City Manager's Office