TRANSMITTAL LETTER FOR BOARD MEETING OF FEBRUARY 21, 2013
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to grant a 25-year, 20' x 2,605' easement to Commonwealth Edison Company ("ComEd") for continued operation, maintenance and renewal of a roadway along the south side of the Main Channel beginning at Cicero Avenue, and continuing easterly to Main Channel Parcel 41.09, for access to its facilities located thereon. Consideration shall be an initial fee of $13,025.00
Body
Dear Sir:
On April 15, 1945, the District granted a lease to ComEd to construct and maintain a 20'-wide roadway along the south side of the Main Channel beginning at Cicero Avenue and continuing easterly across Main Channel Parcels 40.01, 40.06, 41.01 to Main Channel Parcel 41.09, for access to facilities located thereon, which consist of transformers, poles, towers, insulators and concrete slabs. On April 15, 1983, the District granted ComEd an easement for the continued use of said roadway. The current easement expires on April 14, 2013. The current annual easement fee is $7,544.98. Attached is an aerial photograph showing the subject easement area.
The easement area totals approximately 52,100 square feet. The initial annual fee of $13,025.00 represents 10% of the easement area's fair market value of $2.50 per sq. ft. based upon an appraisal of a nearby comparable site.
The District's technical departments have reviewed ComEd's request for a renewal of the easement at the subject location and have no objections thereto.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the grant of a 25-year, 20' x 2,605' easement to Commonwealth Edison Company for continued use, operation, maintenance, and renewal of a roadway along the south side of the Main Channel, beginning at Cicero Avenue and continuing easterly to Main Channel Parcel 41.09 for access to its facilities located thereon. Consideration shall be an initial fee of $13,025.00.
It is further requested that the Executive Director recommend to the Board of Commissioners that the Chairman of the Committee on Finance and the Clerk be authorized and directed to execute said easement agreement after same is approved by the General Counsel as to form and legality.
Requested, Ronald M. Hill, General Counsel, RMH:STM:MLD:ldl
Recommended, David St. Pierre, Executive Director
Respectfully Submitted, Mariyana T. Spyropoulos, 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 February 21, 2013
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