The previous owners of Horizon Farms have sued a local bank and others, disputing the legality of the Forest Preserve District of Cook County’s purchase of the nearly 400-acre Barrington Hills equestrian estate, and alleging the forest preserve paid almost double the appraisal price.
The lawsuit, filed Tuesday by Meryl Squires Cannon and Richard Kirk Cannon alleges BMO Harris Bank — which acquired the land in foreclosure — and the forest preserve district didn’t have legal standing to complete the sale, because the Cannons were still trying to work out a deal to get out of the 2009 foreclosure and reclaim the land.
Read more here.
Horizon Farms is one of the more well known Horse Farms in Barrington HIlls and people who drive thru the area and passing thru always compliment the large pastures of horses grazing almost across from the village hall. I thought it was part of the villages identity which made it unique from other suburbs of Chicago.
I am so surprised the citizens of Barrington Hills do NOT seem concerned about this “LAND GRAB” of nearly 400 acres by the Government in part of Agenda 21. This is really scarey when it is our own village being reduced.
(The bike path is also part of Agenda 21 if you look it up- Don’t let it happen)
The government is trying to take PRODUCTIVE FARM LAND away from private owners in the name of “Sustainable Development” verbage and sugar coating it. (Look it up, it is all over on the internet across America and the world, wake up, it is very important.)
Arnold Randall from The Cook County Forest Preserve Park District said on CHICAGO TONIGHT that they want more land in the village and willing to pay $50k and acre in large parcels.
They paid for this land using TAX PAYERS DOLLARS in the amount of $14.5 million dollars which was paid to the new bank that acquired the mortgage. The original bank they were trying to refinance after the recession was Amcore and now it is in the hands of BMO Harris and total different management.
*** I JUST WANT TO NOTE THIS IS IMPORTANT….. When it is private citizen owned land then the tax dollars BENEFIT LOCAL SCHOOLS, fire protection, police and more. That $14.5 million is a lot of hard earned money that tax payers worked all year long for them to keep their own properties and so they would have local public services as a community.
A couple years ago the village of BH paid over $12 million in legal fees to fight to keep the Duda land in the village and lost the fight. Even if considered Unincorporated McHenry County… there will still be some tax dollars still come to the local area with their real estate tax bills.
But the outcry has not been as loud when the government buys almost 400 acres of private land. Maybe some residents just think it will be for wildlife, trail walks, birds, etc. How often would you use the park district? Go visit it once or twice a year? There are already parks nearby. Most of us have large acreas with woods and we have plenty of deer and coyotes in our yards. The kids need schools to get an education – August thru June, and the public services are still needed every day during winter, spring, summer and fall.
For clarification, this lawsuit is not about “standing” it is for Conspiracy and Fraud. It is Case No. 14-cv-5611 Meryl Squires Cannon v. Forest Preserve District of Cook County, BMO Harris Bank NA, United States of America, McGinley Partners. For the actual story of the case it is available to view at:
http://www.ilnd.uscourts.gov/RecentlyFiledCase.aspx
I might consider BMO Harris Bank NA a bit larger than a “local bank”. Further, Harris Bank did not acquire the property (it is more than “land”) in foreclosure. Harris Bank sold the note before foreclosure. FPD purchased the note (in violation of IL statute). At the time of foreclosure it was the FPD who held the “Note”.
The owners apparently didn’t live up to their mortgage obligations and lost the property. Stop the lawsuits.
Let it go.
I think there is something to be learned here though. Moving forward, let’s avoiding supporting arrangements where we loose future tax revenue. Open space has value, tax revenue has value. Let’s work to keep the balance right.