TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 15, 2016
COMMITTEE ON PROCUREMENT
Mr. David St. Pierre, Executive Director
Title
Authorization to accept minimum initial annual rental bid for Contract 16-362-11 Proposal to Lease for 10-years approximately nine (9) acres of District real estate located at 6400 Canal Bank Road in Forest View, Illinois; Main Channel Parcel 37.07 from Northfield Block Company in the amount of $160,000.00
Body
Dear Sir:
At its meeting of February 18, 2016, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 16-362-11 Proposal to Lease for 10-years approximately nine (9) acres of District real estate located at 6400 Canal Bank Road in Forest View, Illinois and known as Main Channel Parcel 37.07. The minimum acceptable initial annual rental bid was established at $160,000.00.
One bid was received for the subject proposal and was opened on March 29, 2016. The bid was received from Northfield Block Company (“Northfield”) for a minimum initial annual rental bid of $160,000.00 (10% of the appraised fair market value). Northfield proposes to continue to use the site as a manufacturing site for concrete masonry units.
The Finance Department has reviewed Northfield’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 minimum initial annual rental bid for Contract 16-362-11 Proposal to Lease for 10-years approximately nine (9) acres of District real estate located at 6400 Canal Bank Road in Forest View, Illinois; Main Channel Parcel 37.07 from Northfield Block Company, in the amount of $160,000.00.
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 J. 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 September 15, 2016
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