TRANSMITTAL LETTER FOR BOARD MEETING OF FEBRUARY 18, 2010
COMMITTEE ON REAL ESTATE
Mr. Richard Lanyon, Executive Director
Title
Authorization to commence statutory procedures to lease approximately 10 acres of District real estate located at 15700 Des Plaines River Road in Lemont, Illinois, and known as part of Main Channel Parcel 23.08
Body
Dear Sir:
The Law Department has received a request to lease approximately 10 acres of District real estate located at 15700 Des Plaines River Road in Lemont, Illinois. The site is currently vacant.
The intended use of the site is to use it as a bulk storage terminal for salt and other materials. The requested term of the new lease is for 10 years. A 10-year lease is being recommended since staff has not received any requests to lease this site for a term longer than 10 years and it is in the District’s best interests to generate rental income from this site that has remained dormant for the past several years.
The District’s technical departments have reviewed the lease request and have indicated that the subject site is not required for the District’s corporate purposes nor do they have any 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 approximately 10 acres of District real estate located at 15700 Des Plaines River Road in Lemont, Illinois, and known as part of Main Channel Atlas Index Parcel 23.08 upon the terms and conditions set forth above.
Requested, Frederick M. Feldman, General Counsel, FMF:CL:STM:rg
Recommended, Richard Lanyon, Executive Director
Respectfully Submitted, Terrence J. O’Brien, 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 18, 2010
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