TRANSMITTAL LETTER FOR BOARD MEETING OF JULY 11, 2019
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
Title
Authority to commence statutory procedures to lease 43+ acres of District real estate located south of the Cal-Sag Channel between Cicero Avenue and Kostner Avenue in Crestwood, Illinois; Cal-Sag Channel Parcels 12.05, 12.07 and 12.08
Body
Dear Sir:
The Village of Crestwood (“Crestwood”) has requested to lease 43+ acres of District real estate located south of the Cal-Sag Channel between Cicero Avenue and Kostner Avenue in Crestwood, Illinois and known as Cal-Sag Channel Parcels 12.05, 12.07 and 12.08. Crestwood intends to use these parcels for mixed use commercial development, including for the operation of a casino if Crestwood is selected as a future casino site by the Illinois Gaming Board, which will be decided on a date to be determined. The requested lease term is 99 years, which Crestwood says is necessary for making a convincing presentation in its efforts to obtain a casino license. Crestwood intends to lease the subject parcels regardless of whether it is successful in such efforts.
Since 2015, Crestwood has removed excess spoil and overburden from Cal-Sag Channel Parcel 12.05 to bring it to grade level pursuant to a permit from the District that expires December 31, 2020. The materials were placed on the site during the widening of the Cal-Sag Channel. Crestwood expects all grading activities will be completed by the end of this year. Cal-Sag Channel Parcels 12.07 and 12.08 are both vacant.
The District’s technical departments have reviewed this lease request and have indicated that the subject site is not currently needed for corporate use and that they have no technical objections thereto.
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 43+ acres of District real estate located south of the Cal-Sag Channel between Cicero Avenue and Kostner Avenue in Crestwood, Illinois; Cal-Sag Channel Parcels 12.05, 12.07 and 12.08 upon the terms and conditions set forth herein.
Requested, Susan T. Morakalis, General Counsel, STM:JJZ:CMM:vp
Recommended, Brian A. Perkovich, Executive Director
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for July 11, 2019
Attachment