Since the announcement of the pending closure and sale of Arlington International Racecourse property by Churchill Downs, research and identification of some initial steps to be considered to set the stage for potential redevelopment, and/or putting future investors and purchasers on notice of the Village’s desires for the property has occurred. The attached ordinance dealing with restrictive covenants is presented for Board consideration in order to preserve all options for the property whether it includes complete redevelopment through a long-term master plan or continued use as a horseracing facility with additional redevelopment.

Restrictive Covenants

Though it is not yet known whether any of these uses are realistic possibilities or financially viable, Village Staff desires to preserve all reasonable options in order to ensure the best possible re-use of the site.

At times, property owners intent on selling land, place restrictive covenants on their property prohibiting certain land uses in perpetuity. Village Staff believes that any type of restrictive covenant concerning gaming uses would be contrary to the Village Code and the Village’s public policy. Buffalo Grove, Chicago, and Schaumburg have all enacted similar types of ordinances prohibiting certain restrictive covenants (for different uses) in recent years, and Staff has determined that such a prohibition is appropriate for the Village at this time to maintain future land use options. Accordingly, attached is an Ordinance that prohibits the placement of a restrictive private covenant on the property for Board consideration. 

Recommendation

It is recommended that the Village Board approve the proposed ordinance prohibiting restrictive covenants concerning gaming uses.