TRANSMITTAL LETTER FOR BOARD MEETING OF MARCH 15, 2018
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to grant a 25-year, 28,330 sq. ft. non-exclusive easement to Commonwealth Edison Company to continue to construct, reconstruct, operate, maintain, repair, replace and remove transmission towers and overhead transmission lines along the north side of the Main Channel and west of Pulaski Road in Chicago, Illinois. Consideration shall be an initial annual fee of $19,547.70
Body
Dear Sir:
On December 17, 1992, the Board of Commissioners granted a 25-year non-exclusive easement to Commonwealth Edison Company (“ComEd”) to construct, reconstruct, operate, maintain, repair, replace and remove transmission towers and overhead transmission lines on the subject real estate in Chicago, Illinois. The easement expires December 31, 2018. ComEd currently pays an annual fee of $14,624.55.
ComEd has requested a new 25-year easement to continue to operate the transmission towers and overhead transmission lines. The District’s technical departments have reviewed ComEd’s request for an easement and have no objections thereto. An initial annual easement fee of $19,547.70 is recommended, which represents 10% of the current appraised fair market value.
It is requested that the Executive Director recommend to the Board of Commissioners that it grant a 25-year, 28,330 sq. ft. non-exclusive easement to Commonwealth Edison Company to continue to construct, reconstruct, operate, maintain, repair, replace and remove transmission towers and overhead transmission lines along the north side of the Main Channel and west of Pulaski Road in Chicago, Illinois. Consideration shall be an initial annual fee of $19,547.70.
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 said easement agreement on behalf of the District after it is approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:CMM:MM: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 March 15, 2018
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