Evergreen Park trustees on Monday delayed voting on a proposed ordinance that would require certain home buyers to pay the village an up-front fee of $10,000.
The proposed ordinance would pertain to persons who plan to buy homes, refurbish them and sell them for a profit, a process known as “flipping.” Evergreen Park wants to require buyers who plan to flip homes and never live in them to pay a $10,000 cash bond. Mayor James Sexton said the proposed ordinance’s intent is to ensure any renovation work gets done properly, and to “protect the permanent residents from bad neighbors” who might rent such homes.
Two former Evergreen Park residents objected to the proposal, claiming the fee would create a financial hardship for potential home-flippers and discourage investors from trying to improve the housing stock in a neighborhood. Stephen and Catherine Maier of Palos Park raised the issue during the open public forum portion of the Village Board meeting.
“From my standpoint, I would probably be looking at a $10,000 cash bond as taking away from my ability to work on the home I was buying,” Stephen Maier told the board.
Trustees tabled the proposal and directed the village attorney to amend the draft ordinance to guarantee a refund of the bond money within 30 days of the village issuing a “certificate of residence” once all work has been finished and approved. The refunding of the money was not specifically addressed in the proposed ordinance, and Stephen Maier pointed out the language implied the village could keep the money for up to two years.
In other Evergreen Park Village Board news, trustees voted to issue two business licenses. One of the licenses issued will require the village to update the ordinance pertaining to scavenger licenses, which would increase the number of available scavenger licenses from eight to 12. Scavenger licenses are granted to licensed companies businesses can contract for waste disposal or recycling. The license issued Monday went to Homewood Disposal, provided the company pays a $1,000 fee.
The board also issued a license to, Pure Indoor Cycling, which will open an indoor bike park and spin studio at 3354 W. 95th St.