TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 20, 2010
COMMITTEE ON REAL ESTATE
Mr. Richard Lanyon, Executive Director
Title
Authority to pay 2009 real estate taxes in the amount of $445,630.96 for the Metropolitan Water Reclamation District of Greater Chicago’s real estate located in Will County, Illinois, Account 101-30000-667130
Body
Dear Sir:
Pursuant to the Illinois Property Tax Code, 35 ILCS 200/15-143, the District is responsible for the real estate taxes on land owned and located outside of Cook County, unless specifically exempt.
The District has now received the 2009 real estate tax bills for its 31 parcels of non-exempt real estate in Will County, Illinois. The 2009 taxes for the subject parcels total $445,630.96 - of that amount $280,810.18 is attributable to the Lockport Powerhouse. The first installment of the 2009 taxes in the amount of $222,815.48 is due on or before June 2, 2010, and the second installment in the amount of $222,815.48 is due on or before September 2, 2010.
Accordingly, it is requested that the Executive Director recommend to the Board of Commissioners that it authorize and approve the timely payment of the 2009 real estate taxes on District’s non-exempt property in Will County, Illinois, in the aggregate amount of $445,630.96, in two installments of $222,815.48, one due on June 2, 2009 and one due on September 2, 2010.
It is further requested that the Executive Director recommend to the Board that it authorize and direct the Chairman of the Committee on Finance and the Clerk to issue two checks in the amount of $222,815.48 each, one check before June 1, 2010 and one check before September 1, 2010, payable to the Will County Treasurer on account of the 2009 real estate taxes on District’s non-exempt property in Will County, Illinois.
Requested, Frederick M. Feldman, General Counsel, FMF:CL:MIM: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 May 20, 2010