TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 18, 2014
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title.
Authority to grant a 25-year, 5' x 2',640' non-exclusive easement to AT&T to install, construct, reconstruct, operate, maintain, and remove a 1¼-inch diameter underground cable on District real estate located south of Oscar Linn Road in Fulton County, Illinois. Consideration shall be an initial annual fee of $2,500.00.
Body
Dear Sir:
AT&T has requested a 25-year, 5' x 2,640' easement to install, construct, reconstruct, operate, maintain, and remove a 1¼-inch diameter underground telephone cable on District real estate located south of Oscar Linn Road in Fulton County, Illinois. In 1986, AT&T was granted a 20-year easement for a one-time fee of $850.00 to operate the telephone cable. AT&T continued to use the easement after it expired on July 16, 2006. It is recommended that the easement commence retroactively from 2006. The easement will be subject to an initial lump sum payment of $24,388.40 ($2,500.00 per year compounded by an annual CPI adjustment) to cover the easement fees from 2006 to the present.
The District's technical departments have reviewed this request and have no objections to granting a 25-year easement to AT&T.
A fair market value fee on the easement premises would yield a fee less than the District's minimum $2,500.00 fee. The District's standard minimum initial annual fee of $2,500.00 is therefore recommended.
It is requested that the Executive Director recommend to the Board of Commissioners that it grant a 25-year, 5' x 2,640' non-exclusive easement to AT&T to install, construct, reconstruct, operate, maintain, and remove a 1¼-inch diameter underground cable on District real estate located south of Oscar Linn Road in Fulton County, Illinois. Consideration shall be an initial annual fee of $2,500.00.
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 easement agreement after it is approved by the General Counsel as to form and legality.
Requested, Ronald M. Hill, General Counsel, RMH:STM:BEB:vp
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 September 18, 2014
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