TRANSMITTAL LETTER FOR BOARD MEETING OF FEBRUARY 2, 2017
COMMITTEE ON REAL ESTATE
David St. Pierre, Executive Director
Title
Authority to commence statutory procedures to lease 23.95 acres of District real estate located at 4801 South Harlem Avenue in Forest View, Illinois; Main Channel Parcel 37.04
Body
Dear Sir:
Petroleum Fuel & Terminal Company (“PF&T”) currently leases 23.95 acres of District real estate located at 4801 South Harlem Avenue in Forest View, Illinois, and known as Main Channel Parcel 37.04, under a lease that commenced January 1, 1993, and expires December 31, 2018. The current annual rent is $299,619.00. PF&T uses the site to operate and maintain an oil terminal and storage facility. PF&T has requested to continue leasing Parcel 37.04 upon expiration of its lease thereon. The requested lease term is twenty (20) 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 23.95 acres of District real estate located at 4801 South Harlem Avenue in Forest View, Illinois; Main Channel Parcel 37.04 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, David J. Walsh, 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 February 2, 2017
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