TRANSMITTAL LETTER FOR BOARD MEETING OF MARCH 5, 2020
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
Title
Authority to commence statutory procedures to lease 14.02± acres of improved District real estate at 6400 South Archer Avenue in Bedford Park, Illinois; Main Channel Parcel 33.01
Body
Dear Sir:
Ingredion, Inc. (“Ingredion”), formerly known as Corn Products International, Inc., has requested to continue leasing 14.02± acres of District real estate located north of the Main Channel at 6400 South Archer Avenue in Bedford Park, Illinois, known as Main Channel Parcel 33.01.
Ingredion has occupied the subject property under a series of leases and permits to operate, maintain, repair, and remove a cooling water intake pumping and discharge station since January 1, 1908. Ingredion operates the cooling station in conjunction with its adjacent property used to manufacture and distribute corn products. Ingredion’s present ten-year lease commenced December 30, 2011 and expires December 31, 2021. Ingredion has requested a new 39-year lease for continued use to operate its cooling station.
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 14.02± acres of improved District real estate at 6400 South Archer Avenue in Bedford Park, Illinois; Main Channel Parcel 33.01, upon the terms and conditions set forth herein.
Requested, Susan T. Morakalis, General Counsel, STM:EMA:JAW: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 March 5, 2020
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