TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 18, 2014
COMMITTEE ON PROCUREMENT
Mr. David St. Pierre, Executive Director
Title
Authorization to accept initial annual rental bid for Contract 14-365-11 Proposal to Lease for 39-years 13.74+/- acres of District real estate located at 2801 South Leavitt Street, Chicago, Illinois; Main Chanel Parcel 43.03 from Swift Transportation Company of Arizona, LLC., in the amount of $750,000.00
Body
Dear Sir:
At its meeting of June 5, 2014, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 14-365-11 Proposal to Lease for 39-years 13.74+/- acres of District real estate located at 2801 South Leavitt Street, Chicago, Illinois; Main Channel Parcel 43.03. The minimum acceptable annual rental bid was established at $724,000.00.
One bid was received for the subject proposal and was opened on August 12, 2014. The bid was received from Swift Transportation Company of Arizona, LLC ("Swift") for a minimum initial annual rental bid of $750,000.00. Swift's proposed use of the site under a lease is for the parking, storage and maintenance of trucks and trailers.
The Finance Department has reviewed Swift'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 initial annual rental bid for Contract 14-365-11 Proposal to Lease for 39-years 13.74+/- acres of District real estate located at 2801 South Leavitt Street, Chicago, Illinois; Main Channel Parcel 43.03 from Swift Transportation Company of Arizona, LLC in the amount of $750,000.00.
It is further 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:STM:MLD:vp
Recommended, Darlene A. 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 September 18, 2014
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