Geneva to consider buying UP commuter parking lots
The Geneva City Council Monday approved an intergovernmental agreement with Metra possibly to buy the Union Pacific Railroad's downtown commuter parking property for about $960,000.
The Union Pacific Railroad notified the city that it had entered into an agreement with an unnamed developer that it plans to sell some or all of its 41 train station properties.
This includes the 960 square feet of commuter lots that the city currently leases from the Union Pacific Railroad, officials said.
"We're simply protecting our rights to consider acquisition of that land after significant due diligence - period," Mayor Kevin Burns said. "That's it. Nothing more complicated than that. It's the land adjacent to, around (the station) that we have to determine what those boundaries are. Then proceed with due diligence and then determine whether or not it is in the best interest of the city to acquire that land."
The land that could be acquired is 960 square feet of commuter parking.
Shodeen Inc. owns the actual train station, officials said.
The due diligence period is almost a year, City Administrator Stephanie Dawkins said.
If the city acquires the land, it may remain as commuter parking, she said.
"We are talking about the commuter permit lot," Dawkins said. "We are ... trying to protect our rights to determine what's the best use for that property. And it may be to remain commuter parking."
Under the lease agreement with Union Pacific, Dawkins said the city already does the plowing and maintenance of the commuter lots.
Metra can buy each station property on the same terms and conditions, if it gives 45 days of the Nov. 12, 2021, notice, officials said.
Metra notified the city that it has no capital budget to acquire any real estate.
But, Metra is willing to enter into intergovernmental agreements with each municipality to buy its train station real estate and transfer it to the municipality - if each municipality pays to finance the cost of the acquisition, officials said.
The city would use its fund balance in the Commuter Parking Fund for the approximately $960,000 purchase, officials said.
Aldermen and Burns voted 11-0 to go ahead with the purchase if conditions progress to that point.
Under a purchase of service agreement from Jan. 28, 2010, Union Pacific Railroad must give Metra 45 days notice of its intent to sell, and offer that property to Metra on the same terms, according to the city's intergovernmental agreement.
The resolution authorizes Dawkins to execute an intergovernmental agreement to buy the property after certain terms are met.