Request

Consideration and approval of consultant selection for fiscal economic impact and market analysis of proposed redevelopment of property commonly known as Arlington International Racecourse.

Recommendation

It is recommended that the Village Board authorize the Village Manager to enter into an agreement with Hunden Strategic Partners for a financial, economic impact and market analysis for the proposed redevelopment of the property formerly known as Arlington International Racecourse.   Hunden Strategic Partners consultant fees would be approximately $118,000 plus ongoing consultancy at hourly rates.  It is further recommended that the consultant contract be funded from the escrow funds provided by the Chicago Bears Football Club and the Village’s Capital Projects Fund reserves.