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File #: 15-0495    Version: 1
Type: Agenda Item Status: Adopted
File created: 5/6/2015 In control: Procurement Committee
On agenda: 5/21/2015 Final action: 5/21/2015
Title: Authorization to accept initial annual rental bid for Contract 15-360-11 Proposal to Lease for 37-years 4.2± acres of District real estate located at approximately 4300 West 130th Street in Alsip, Illinois; Cal-Sag Channel Parcel 12.03 from Greif Packaging LLC, in the amount of $43,500.00
Attachments: 1. Map.Parcel 12.03 Greif.pdf
TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 21, 2015
 
COMMITTEE ON PROCUREMENT
 
Mr. David St. Pierre, Executive Director
 
Title
Authorization to accept initial annual rental bid for Contract 15-360-11 Proposal to Lease for 37-years 4.2± acres of District real estate located at approximately 4300 West 130th Street in Alsip, Illinois; Cal-Sag Channel Parcel 12.03 from Greif Packaging LLC, in the amount of $43,500.00
Body
 
Dear Sir:
 
At its meeting of February 19, 2015, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 15-360-11 Proposal to Lease for 37-years 4.2± acres of District real estate located at approximately 4300 West 130th Street in Alsip, Illinois, and known as Cal-Sag Channel Parcel 12.03. The minimum acceptable annual rental bid was established at $42,500.00.
 
One bid was received for the subject proposal and was opened on April 14, 2015. The bid was received from Greif Packaging LLC ("Greif") for a minimum initial annual rental bid of $43,500.00 (10.24% of the appraised fair market value). Greif proposes to use the site under the lease to park cars, trucks, and semi-trailers.
 
The Finance Department has reviewed Greif'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 15-360-11 Proposal to Lease for 37-years 4.2± acres of District real estate located at approximately 4300 West 130th Street in Alsip, Illinois; Cal-Sag Channel Parcel 12.03 from Greif Packaging LLC, in the amount of $43,500.00.
 
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 lease agreement after it has been approved by the General Counsel as to form and legality.
 
Requested, Ronald M. Hill, General Counsel, RMH:STM:CMM:vp
Recommended, Darlene LoCascio, Director of Procurement and Materials Management
Recommended, David St. Pierre, Executive Director
Respectfully Submitted, Barbara 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 May 21, 2015
 
Attachment