TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 16, 2013
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authorization to commence statutory procedures to lease approximately 3 acres of District real estate located at 4100 West 41st Street in Forest View, Illinois, part of Main Channel Parcel 38.11
Body
Dear Sir:
The W.E. O'Neil Construction Company ("O'Neil") has occupied approximately 3 acres of District real estate located at 4100 West 41st Street in Forest View, Illinois, under a sublease beginning in 1978 and under successive permits since 2004. In 2007, after performing certain environmental site remediation work, O'Neil was awarded a 5-year permit from 2007 through 2012, through the District's statutory bidding procedures. O'Neil currently occupies the site under a permit extension that expires May 31, 2013. O'Neil has indicated it is in the process of negotiating a land purchase so that it can relocate its operations thereto. O'Neil has further indicated that the land purchase (of non-District owned land) is expected to be completed within six months. Thereafter, O'Neil anticipates it will take approximately 2 to 3 years to develop its new site. O'Neil has, therefore, requested a 3-year permit extension.
Any further occupancy of the premises must again be procured through the statutory bidding process. A three year lease is therefore being recommended in this instance.
Such lease will insure rental income to the District over the next three years instead of the site possibly remaining vacant if O'Neil were required to vacate the property upon expiration of its permit. Furthermore, making the site available for lease through the statutory leasing process will reduce the administrative costs associated with continuing to issue short term permits to occupy the site. A companion Board transmittal letter seeking authority to issue an 8-month permit extension to O'Neil to allow continued occupancy during the statutory leasing procedures is being presented at today's meeting.
The District's technical departments have no objections to a 3-year lease on this site.
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 approximately 3 acres of District real estate located at 4100 West 41st Street in Forest View, Illinois, part of Main Channel Parcel 38.11 upon the terms and conditions set forth herein.
Requested, Ronald M. Hill, General Counsel, RMH:STM:BEB
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 May 16, 2013
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