TRANSMITTAL LETTER FOR BOARD MEETING OF APRIL 17, 2014
COMMITTEE ON PROCUREMENT
Mr. David St. Pierre, Executive Director
Title
Authorization to accept initial annual rental bid for Contract 14-361-11 Proposal to Lease for 39-years 16.77+/- acres of District real estate located at 18500 West 9th Street in Unincorporated Lockport, Will County, Illinois; Main Channel Parcels 15.02 and 15.04 from ACL Transportation Services, LLC in the amount of $147,200.00
Body
Dear Sir:
At its meeting of January 23, 2014, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 14-361-11 Proposal to Lease for 39-years 16.77+/- acres of District real estate located at 18500 West 9th Street in Unincorporated Lockport, Will County, Illinois and known as Main Channel Parcels 15.02 and 15.04. The minimum acceptable annual rental bid was established at $115,000.00.
One bid was received for the subject proposal and was opened on March 4, 2014. The bid was received from ACL Transportation Services, LLC ("ACL") for a minimum initial annual rental bid of $147,200.00 (12.89% of the appraised fair market value). ACL's proposed use of the site under a lease is to operate a barge transportation company.
The Finance Department has reviewed ACL's financial and company background information and has reported that it demonstrates the ability to meet its financial obligations under the new proposed lease.
It is requested that the Executive Director recommend to the Board of Commissioners that it accept the rental bid for Contract 14-361-11 Proposal to Lease for 39-years 16.77+/- acres of District real estate located at 18500 West 9th Street in Unincorporated Lockport, Will County, Illinois and known as Main Channel Parcels 15.02 and 15.04 from ACL Transportation Services, LLC in the amount of $147,200.00.
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the chairman of the Committee on Finance and the Clerk to execute the lease agreement after it has been approved by the General Counsel as to form and legality.
Requested, Ronald M. Hill, General Counsel, RMH:SM:vp
Recommended, Darlene LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Barbara J. McGowan, Chairman Committee on Procurement
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for April 17, 2014
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