TRANSMITTAL LETTER FOR BOARD MEETING OF JULY 12, 2018
COMMITTEE ON REAL ESTATE
Mr. John P. Murray, Acting Executive Director
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Authority to grant a 60-year, 25,408+ sq. ft. non-exclusive easement to Commonwealth Edison Company to construct, reconstruct, operate, maintain, repair, replace and remove subterranean electrical transmission lines through the southern portion of Cal-Sag Channel Parcel 11.04 located west of Cicero Avenue and south of the Cal-Sag Channel in Crestwood, Illinois. Consideration shall be an initial annual fee of $21,597.00
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Dear Sir:
Commonwealth Edison Company (“ComEd”) has requested a 60-year, 25,408+ sq. ft. non-exclusive easement to construct, reconstruct, operate, maintain, repair, replace and remove subterranean electrical transmission lines through the southern portion of Cal-Sag Channel Parcel 11.04 (“Parcel 11.04”) located west of Cicero Avenue and south of the Cal-Sag Channel in Crestwood, Illinois. Parcel 11.04 comprises approximately 22 acres and has been divided into 3 separate leaseholds. The Village of Crestwood (“Crestwood”) leases the eastern 7-acre portion of Parcel 11.04 for mixed use retail development under a 60-year lease that commenced September 15, 2017 and expires September 14, 2077. The annual rent is $158,000.00. Crestwood also leases a second approximate 6-acre portion of Parcel 11.04 under a public recreational lease that also commenced September 15, 2017, and expires September 14, 2077. The rent is a $10.00 nominal fee. The remaining approximate 9-acre portion of Parcel 11.04 is currently being advertised as available for lease.
The District’s technical departments have reviewed ComEd’s request for an easement and have no objections thereto. An initial annual easement fee of $21,597.00 is recommended, which represents 10% of the appraised fair market value. Two companion transmittal letters are on today’s agenda seeking the Board of Commissioners’ authority to grant Crestwood a water main easement and a separate stormwater/sanitary sewer easement on the southern portion of Parcel 11.04 is currently being advertised as available for lease.
It is requested that the Acting Executive Director recommend to the Board of Commissioners that it grant a 60-year, 25,408+ sq. ft. non-exclusive easement to Commonwealth Edison Company to construct, reconstruct, operate, maintain, repair, replace and remove subterranean electrical transmission lines through the southern portion of Cal-Sag Channel Parcel 11.04 located west of Cicero Avenue and south of the Cal-Sag Channel in Crestwood, Illinois. Consideration shall be an initial annual fee of $21,597.00.
It is also requested that the Acting 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:PS:vp
Recommended, John P. Murray, Acting 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 July 12, 2018
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