TRANSMITTAL LETTER FOR BOARD MEETING OF NOVEMBER 20, 2014
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to issue a 5-year permit extension to the Board of Trustees of Junior College District 534 to continue to use approximately 39.16 acres of District real estate located on the former Consolidation Coal Company Farm (Gavenda Tract) in Fulton County, Illinois, as a farm land laboratory. Consideration shall be an annual fee of $2,927.00
Body
Dear Sir:
Since March 8, 1973, the Board of Trustees of Junior College District 534 ("Spoon River College") has been issued a permit to use approximately 39.16 acres of District real located on the former Consolidation Coal Company Farm (Gavenda Tract) in Fulton County, Illinois, as a farm land laboratory. Spoon River College uses this land as part of its Agricultural Management Technology Curriculum which provides training and education to help the students acquire the practical skills necessary for their future careers in agriculture. The permit, as extended, is set to expire on March 24, 2015. Spoon River College has requested a 5-year extension to its permit upon expiration of same to continue its agricultural program. The current annual permit fee is $2,828.00.
An annual permit fee of $2,927.00 is recommended under the permit extension as such represents 10% of the fair market value of the land based upon current rental rates paid under the Fulton County farm leases plus an increase of 3.5% for inflation.
The District's technical departments reviewed the subject request and have no objections to the proposed 5-year permit extension.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize and approve the issuance of a 5-year permit extension to the Board of Trustees of Junior College District 534 to continue to use approximately 39.16 acres of District real estate located on the former Consolidation Coal Company Farm (Gavenda Tract) in Fulton County, Illinois, as a farm land laboratory. Consideration shall be an annual fee of $2,927.00.
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 said Permit Extension Agreement on behalf of the District after it is approved by the General Counsel as to form and legality.
Requested, Ronald M. Hill, General Counsel, RMH:STM:MM
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 November 20, 2014
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