TRANSMITTAL LETTER FOR BOARD MEETING OF OCTOBER 20, 2016
COMMITTEE ON REAL ESTATE
David St. Pierre, Executive Director
Title
Authority to commence statutory procedures to lease approximately three (3) acres of District real estate located at 4100 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.11
Body
Dear Sir:
W.E. O’Neil Construction Company (“O’Neil”) currently leases approximately three (3) acres of District real estate located at 4100 West 41st Street in Forest View, Illinois, and known as Main Channel Parcel 38.11 under a lease that commenced May 1, 2014, and expires April 30, 2017. The current annual rent is $76,500.00. O’Neil uses the site to store and maintain construction equipment. O’Neil has requested to continue leasing parcel 38.11 upon expiration of the lease thereon. The requested lease term is 5 years.
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 three (3) acres of District real estate located at 4100 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.11 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 October 20, 2016
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