This item was added during the Additions/Deletions/Changes to Agenda portion of the board meeting. Executive Director Rogers informed the Board that the District is in receipt of three appraisals forGolden Meadows Park. Per an IGA between the City and Park District and to conform to IDNR guidelines, both parties agreed to use three separate appraisal firms to obtain a fair value of the western portion of Golden Meadows Park to be later deeded over to the City for stormwater detention. As agreed upon, the lowest and highest appraisals will be disqualified to obtain a median appraised value. The appraisal selected was from an appraiser firm suggested by the City. All of the appraisers used the same evaluation process, which involved (1) appraising the entire park property, (2) the eastern park site separately and (3) then subtracting the eastern site from the whole to arrive at the value of the western park site. According to the IGA, the median value will be placed in escrow for acquisition of replacement property as IDNR deems comparable to the property. Should the City accept the appraisal, it will be submitted to IDNR for certification, the City will then have 30 days to terminate the agreement or accept it by depositing funds in escrow. Following the City’s acceptance, the Park District will deed the property to the City and find replacement property. Should the cost of comparable replacement property exceed the appraised value, the City will fund up to 1.5 times the appraised value per the terms of the IGA. The Board questioned the wide spread in appraisal values. The City’s Public Works Committee is also meeting to discuss the appraisals.