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City Rewriting Parking Lot Sale Contract

Downtown developer looking to turn portion of lot into pedestrian mall.

City Rewriting Parking Lot Sale Contract

Yorkville officials are rewriting a contract to sell a parking lot to a downtown developer for use as pedestrian mall as well as a parking lot.

The sale of the lot to Imperial Investments for $13,500 was tabled until Dec. 11 so staff can rewrite the agreement. The initial agreement only allowed for the property to be used as a parking lot, said City Administrator Bart Olson. Any parking spaces lost by turning the eastern portion of the lot behind the Cobblestone Building, on Van Emmon Street would be made up at another site owned by the developer, Olson said.

Alderman Carlo Colosimo said he wanted to make sure the city would not lose parking. He said he did not want to see parking turned into a paid commodity.

Alderman Larry Kot questioned if the new agreement would impact city access to infrastructure. Olson said no, the city would maintain rights to access infrastructure on the property, including the well house. He added that the city would always have access, even if Imperial sold the property in the future.

“That would be a deed provision,” he said.

Council initially debated the sale of the lot Nov. 13. The lot is about 1/10 of an acre.

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