TRANSMITTAL LETTER FOR BOARD MEETING OF JULY 10, 2014
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to amend lease agreement dated October 7, 1993, between the District and the Alsip Park District to surrender a 4.2+/- acre portion of its 75.931 acre leasehold located at approximately 4300 West 130th Street in Alsip, Illinois, and known as part of Cal-Sag Channel Parcel 12.03. Consideration shall be $10.00 (As Revised)
Body
Dear Sir:
The Alsip Park District ("Alsip") currently leases the subject 75.931 acres known as Cal-Sag Channel Parcels 11.02, 11.03, 12.01, 12.03, 12.11, and part of Parcel 10.03 for public recreational use and for the construction, operation and maintenance of a bicycle/pedestrian path. The lease commenced November 1, 1993, and as amended, expires October 31, 2052. The annual rent is $10.00.
Alsip has requested that it be allowed to surrender 4.2+\- acres of its 75.931 acre leasehold so that the District can commence statutory leasing procedures for a new long-term lease on that section of the site. The 4.2+/- acres is located on Parcel 12.03, which is unused by Alsip. Greif Packaging, LLC ("Greif") owns and operates a steel drum and plastic container production facility immediately north of this parcel and has requested to lease this site for the purpose of off-street parking of cars, trucks and semi-trailers. Any lease for such purpose on this surrendered portion of this site will be obtained through the District's statutory leasing process.
The District's technical departments have reviewed this request to lease by Greif and surrender by Alsip and have no objections thereto.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize an amendment to the lease agreement dated October 7, 1993, between the District and the Alsip Park District to surrender a 4.2+/- acre portion of its 75.931 acre leasehold located at approximately 4300 West 130th Street in Alsip, Illinois, and known as part of Cal-Sag Channel Parcel 12.03. Consideration shall be $10.00.
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 amendment agreement and any other related documents after they are approved by the General Counsel as to form and legality.
Requested, Ronald M. Hill, General Counsel, RMH:STM:CMM:vp:ss
Recommended, David St. Pierre, Executive Director
Respectfully Submitted, Mariyana T. Spyropoulos, Chairman Committee on Real Estate Development
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for July 10, 2014
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