TRANSMITTAL LETTER FOR BOARD MEETING OF MARCH 2, 2017
COMMITTEE ON PROCUREMENT
Mr. David St. Pierre, Executive Director
Title
Authorization to accept initial annual rental bid for Contract 17-361-11 Proposal to Lease for five (5) years approximately three (3) acres of District real estate located at 4100 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.11 from W.E. O’Neil Construction Company, in the amount of $85,000.00
Body
Dear Sir:
At its meeting of December 1, 2016, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 17-361-11 Proposal to Lease for five (5) years 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. The minimum acceptable annual rental bid was established at $85,000.00.
One bid was received for the subject proposal and was opened on January 24, 2017. The bid was received from W.E. O’Neil Construction Company (“O’Neil”) for a minimum initial annual rental bid of $85,000.00 (10% of the appraised fair market value). O’Neil proposes to use the site under the lease for the purpose of storing and maintaining construction materials and equipment.
The Finance Department has reviewed O’Neil’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 initial annual rental bid for Contract 17-361-11 Proposal to Lease for five (5) years approximately three (3) acres of District real estate located at 4100 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.11 from W.E. O’Neil Construction Company, in the amount of $85,000.00.
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 March 2, 2017
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