Intergovernmental Agreement - Land Exchange - Traffic Improvements
The proposal of Atlantic Realty is noteworthy in that it involves cooperation among the Village, the Park District and Atlantic Realty - a public/private redevelopment effort. Specifically, after Atlantic Realty completes the acquisition of the LGPD Parcel, it is contemplated that the Village and Park District will enter into an intergovernmental agreement to provide for a land swap: all of the portion of former Shawmut Avenue then owned by the Park District would be conveyed to the Village in exchange for a portion of the two-bay parking lot lying between the north-south segment of Locust Avenue and Gordon Park. As a condition of planned development approval, Atlantic Realty would be obligated to convey to the Village all of the land it has acquired lying in the right of way of Shawmut Avenue (i.e., the northwest corner of the YMCA Parcel and Parcel 4).
As a result of these various conveyances, Atlantic Realty would assist the Village in the re-opening of Shawmut Avenue as a municipal street. The north-south segment of Locust Avenue would open to traffic circulating from La Grange Road, over the newly re-opened Shawmut Avenue and connecting through the north-south segment of Locust Avenue to Ogden Avenue. One of the two entrances to the underground parking structure on the Property will be located on Locust Avenue. The re-opened portion of Shawmut Avenue will include twenty (20) on-street parking spaces and provide a second access point to the underground parking garage.
This circulation pattern is described in the traffic impact analysis of Metro Transportation Group, Inc. ("Traffic Impact Analysis") dated August 14, 2007, included in the application. It includes recommended improvements (collectively, the "Traffic Plan") to improve circulation and safety throughout the area.
As detailed in the Traffic Impact Analysis, the east-west segment of Locust Avenue would be re-aligned to intersect Ogden Avenue at an improved angle to increase visibility and ease of turning movements.
Other traffic improvements include the dedication of approximately a seven (7) foot strip to IDOT to provide enough room for a new dedicated, westbound right-turn lane at the La Grange Road/Ogden Avenue intersection, the reconstruction of the current outbound-only access to Ogden Avenue into a right-in/right-out driveway, providing a separate left-turn lane and right-turn lane on Locust Avenue at Ogden Avenue under stop control, optimization of traffic signals, and installing traffic calming features.
As described in the Traffic Impact Analysis, the overall impact of these improvements will favorably enhance access to Gordon Park and provide a better plan for traffic circulation and safety in the area.
The Project will result in a new reduction in the site-generated traffic of 20 trips in the morning peak hours and 25 trips in the evening peak hours below what the site generated when the YMCA was in operation.
In addition, because of the release of 43 spaces held by the YMCA, after the exchange between the Park District and the Village is completed, the Park District will gain 37 additional parking spaces for Gordon Park, and the Village will gain 6 additional parking spaces in its commuter lots.