TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 6, 2013
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to issue a 6-month permit extension to Ravenswood Boatyard, LLC to access, use, and maintain a boat dock on approximately 10,086 square feet of District real estate located along the east bank of the North Branch of the Chicago River adjacent to 4130 North Rockwell Street in Chicago. Consideration shall be $6,500.00
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Dear Sir:
Ravenswood Boatyard, LLC ("Ravenswood") has occupied the subject premises under a permit since 2003 to use approximately 10,086 square feet along the North Branch of the Chicago River for use of a dock in connection with its adjacent recreational watercraft storage and boat repair business located at 4130 North Rockwell Street in Chicago. The annual permit fee is $12,000.00.
For several decades, Ravenswood had been one of many property owners along the Chicago River using the channel bank and the prism of the North Branch of the Chicago River between Irving Park Road and Lawrence Avenue in Chicago for private purposes. After years of failed negotiations to resolve the unauthorized encroachments on and utilization of channel banks and the prism, the Board authorized the issuance of permits to the individual property owners. Ravenswood was only one of two owners willing to enter into a permit agreement with the District to continue to occupy the site. Albany Auto Sales was the other party. It is recommended that a more appropriate mechanism to allow continued use and occupancy of this property by a private entity is to enter into a long-term lease pursuant to the District's statutory leasing procedures. A 6-month permit extension is therefore recommended to allow Ravenswood continued use of the premises during the leasing procedures.
The District's technical departments have reviewed the request and have no objections to issuing this permit extension.
The permit extension fee of $6,500.00 represents 10% of the pro rata share of the current appraised fair market value of the site.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the issuance of a 6-month permit extension to Ravenswood Boatyard, LLC to access, use, and maintain a boat dock on approximately 10,086 square feet of District real estate located along the east bank of the North Branch of the Chicago River adjacent to 4130 North Rockwell Street in Chicago. Consideration shall be $6,500.00.
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize the Chairman of the Committee on Finance and the Clerk to execute said permit extension agreement on behalf of the District after it is approved by the General Counsel as to form and legality.
Requested, Ronald M. Hill, General Counsel, RMH:STM:rg
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 June 6, 2013
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