TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 18, 2015
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to grant a 25-year, 9,700 sq. ft. non-exclusive easement to Alsip MiniMill, LLC to construct, reconstruct, operate, maintain, repair, and remove a pumping station, intake conduit, sewer and appurtenances related thereto on District real estate located north of the Cal-Sag Channel and east of Crawford Avenue, in Alsip, Illinois on a portion of Cal-Sag Channel Parcel 13.04. Consideration shall be an initial annual fee of $ 2,850.00
Body
Dear Sir:
On December 6, 2001, the Board of Commissioners issued orders authorizing a 25-year easement to FutureMark Paper, formerly known as Alsip Paper Condominium Association, to operate and maintain a pumping station, an intake conduit, a sewer and appurtenances related thereto on District real estate located north of the Cal-Sag Channel and east of Crawford Avenue, in Alsip, Illinois on a portion of Cal-Sag Channel Parcel 13.04. FutureMark Paper's assets were recently purchased by Alsip MiniMill, LLC in a bankruptcy action. Under the easement, FutureMark paid an annual fee of $2,000.00. The 2001 easement was not part of the bankruptcy proceedings. The grant of a new easement to the purchaser of FutureMark Paper is therefore necessary.
The technical departments have no objections to the grant of an easement to Alsip MiniMill, LLC. An annual fee of $2,850.00 is recommended as such represents 10% of the fair market value of the land based upon a recent appraisal of a nearby comparable site.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the grant of a 25-year, 9,700 sq. ft. non-exclusive easement to Alsip MiniMill, LLC to construct, reconstruct, operate, maintain, repair, and remove a pumping station, intake conduit, sewer and appurtenances related thereto on District real estate located along the north bank of the Cal-Sag Channel, and east of Crawford Avenue, in Alsip, Illinois on a portion of Cal-Sag Channel Parcel 13.04. Consideration shall be an initial annual fee of $2,850.00.
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 June 18, 2015
Attachment