TRANSMITTAL LETTER FOR BOARD MEETING OF APRIL 3, 2014
COMMITTEE ON MAINTENANCE AND OPERATIONS
Mr. David St. Pierre, Executive Director
Title
Authority to assign the interests of Hummel Plastering, Inc., to Chris Hummel in the lease issued to Hummel Plastering, Inc., and John Gorsuch to farm District land located in Fulton County, Illinois (Deferred from the March 20, 2014 Board Meeting)
Body
Dear Sir:
At the Board Meeting of February 21, 2013, the Board of Commissioners (Board) authorized and approved the issuance of leases to certain parties to farm specific parcels of District land located in Fulton County Illinois. The lease terms, including rent, were negotiated by the District's private farm manager, Heartland Bank and Trust Company (Heartland). The District previously awarded a contract to Heartland for farm management support services for the District's farmland in Fulton County, Illinois for a 3-year period. The purpose of the farm management services is to effectively manage and maximize the agricultural income of the District's farmland in Fulton County.
Pursuant to the above, a lease was issued to Hummel Plastering, Inc., and John Gorsuch. The tenant has requested that the interests of Hummel Plastering, Inc., be assigned to Chris Hummel. Heartland recommends that the tenants' request be approved by the District. The assignment is requested because the President of Hummel Plastering, Inc., intends to retire and dissolve the company. There is no disadvantage to the District as the assigned party will be jointly and severally responsible for compliance with all terms and conditions of the subject lease.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize and approve the assignment of the interests of Hummel Plastering, Inc., to Chris Hummel in the lease issued to Hummel Plastering, Inc., and John Gorsuch.
It is further requested that the Executive Director recommend to the Board of Commissioners that it authorize the Chairman of the Committee on Finance and the Clerk of the District to execute a lease assignment after same is approved by the General Counsel as to form and legality.
Requested, Manju Prakash Sharma, Director of Maintenance and Operations, SES:SOC:MAG:JK
Respectfully Submitted, Frank Avila, Chairman Committee on Maintenance and Operations
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for April 3, 2014