As specified by state law, the village has the authority to purchase private property for public use. In accordance with purchasing the property, the village will pay the fair market value of the property, which is established by unbiased appraisers. The fair market value as defined in Illinois law is the amount of money the buyer of the property is willing to pay to the seller of the property with neither person being obligated in this voluntary sale. (Part of Res. 1979-8)