TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 4, 2015
COMMITTEE ON REAL ESTATE
Title
Authority to issue a six (6) month permit extension to the Village of Willow Springs for continued use of a Metra commuter parking lot on approximately 2.13 acres of District real estate located west of Willow Springs Road and south of the Main Channel in Willow Springs, Illinois; Main Channel Parcel 29.04. Consideration shall be $6,000.00
Body
Dear Sir:
The Village of Willow Springs ("Willow Springs") leased approximately 2.13 acres of District real estate under a lease agreement between Willow Springs and the District that commenced January 1, 1989, and expired December 31, 2014. The permitted use under the lease was for the operation of a Metra commuter parking lot. Upon expiration of the lease, Willow Springs indicated that it would expand its existing commuter parking lot on its own land and therefore would not be seeking a new lease on District land. A six (6) month permit was issued to Willow Springs for continued use of the property as a commuter parking lot until the existing parking lot was expanded. The current six (6) month permit fee is $6,000.00 and the permit expires June 30, 2015. Willow Springs has requested a six (6) month extension to its permit until it can complete the parking lot expansion.
It is District policy to assess the annual rent based on 6% of the site's appraised fair market value when leasing District land to a government entity for non-recreational purposes. It is therefore recommended that the six (6) month fee be $6,000.00 which represents the pro-rata share of 6% of the appraised fair market value of $200,000.00.
The District's technical departments have no objections to the issuance of a six (6) month permit extension to Willow Springs.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the issuance of a six (6) month permit extension to the Village of Willow Springs for continued use of a Metra commuter parking lot on approximately 2.13 acres of District real estate located west of Willow Springs Road and south of the Main Channel in Willow Springs, Illinois; Main Channel Parcel 29.04. Consideration shall be $6,000.00.
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 said permit extension on behalf of the District 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, 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 June 4, 2015
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