TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 1, 2016
COMMITTEE ON REAL ESTATE
David St. Pierre, Executive Director
Title
Authority to commence statutory procedures to lease 7.43 acres of District real estate located at 4100 South Laramie Avenue in Stickney, Illinois; Main Channel Parcel 39.07
Body
Dear Sir:
Koppers Industries, Inc. (“Koppers”) currently leases 7.43 acres of District real estate located at 4100 South Laramie Avenue in Stickney, Illinois, and known as Main Channel Parcel 39.07. The lease commenced April 13, 1944, and expires August 14, 2018. Under the lease, Koppers uses the property primarily for storing and distributing oil and petroleum products. The annual rent is $65,418.00. Koppers has requested to continue leasing the site upon expiration of the lease.
The lease requires the District, upon determining the property is not needed for the District’s corporate use, to publish notice for bids on re-leasing the property no later than November 12, 2016. The requested lease term is ten (10) years.
In the event Koppers is awarded the lease after competitive bidding, it has requested to participate in a pilot program under the District’s supervision whereby trees will be installed and cultivated onsite by Argonne National Laboratory in an effort to remediate existing surface and subsurface contamination. In exchange, the District will agree to waive the requirement that the site be remediated to TACO Tier I Residential Standards. If Koppers is not awarded the lease, the highest responsible bidder will be given the option of likewise participating in this program, or, alternatively, bringing the site to TACO Tier I Residential Standards before the new lease expires.
The District’s technical departments have reviewed the lease request and have indicated that the subject site is not needed for corporate use nor do they have any technical objections thereto.
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 7.43 acres of District real estate located at 4100 South Laramie Avenue in Stickney, Illinois, known as Main Channel Parcel 39.07, 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 September 1, 2016
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