Politics & Government
Oak Park Settles With Dealership for $400,000
The village will recoup $400,000 from the Foley-Rice Cadillac Dealership lawsuit brought in 2009.
A lawsuit filed by the village of Oak Park against the former Foley-Rice Cadillac dealership in 2009 has finally come to a close.
In the settlement, approved by the village board on Nov. 19, the village will be able to recoup $400,000.
According to the Chicago Sun-Times, the lawsuit was filed in October 2009 with the village seeking the repayment of $400,000 in tax increment financing funds, the return of $1,156,500 the village gave the dealership for its property at 722 W. Madison St. (as well as returning the property) and $200,000 in compensation to the village for the time spent on the lawsuit and attorney's fees.
Find out what's happening in Oak Park-River Forestfor free with the latest updates from Patch.
The settlement will still need approval from a judge on Nov. 28.
Find out what's happening in Oak Park-River Forestfor free with the latest updates from Patch.
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