TRANSMITTAL LETTER FOR BOARD MEETING OF NOVEMBER 19, 2015
COMMITTEE ON REAL ESTATE
David St. Pierre, Executive Director
Title
Authority to commence statutory procedures to lease approximately 9 acres of District real estate located at 6400 Canal Bank Road in Forest View, Illinois; Main Channel Parcel 37.07 (As Revised)
Body
Dear Sir:
Northfield Block Company (“Northfield”) currently leases approximately 9 acres of District real estate located at 6400 Canal Bank Road in Forest View, Illinois, known as Main Channel Parcel 37.07. The lease expires on February 28, 2017. Under the lease, Northfield operates a concrete block manufacturing and distribution facility and pays an annual rent of $173,014.73. Northfield is interested in leasing the parcel for an additional ten years after the current lease expires.
The District’s technical departments have reviewed this request and have no objections.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the General Counsel to commence statutory procedures to lease approximately 9 acres of District real estate located at 6400 Canal Bank Road in Forest View, Illinois; Main Channel Parcel 37.07 upon the terms and conditions set forth herein.
Requested, Ronald M. Hill, General Counsel, RMH:STM:CMM: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 November 19, 2015
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