TRANSMITTAL LETTER FOR BOARD MEETING OF DECEMBER 21, 2023
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
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Authority to enter into a 50-year lease with the Village of Schaumburg for the continued use of 4.99± acres of District real estate located at 645 Meacham Road in Schaumburg, Illinois for public recreational use. Consideration shall be a one-time fee of $10.00, plus 25% of annual net revenues derived from the premises
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Dear Sir:
The Village of Schaumburg (“Village”) leases approximately 4.99 acres of District real estate located at 645 Meacham Road in Schaumburg, Illinois for public recreational use. The subject property is adjacent to the Schweikher House, a national historic place and studio owned by the Village and managed by the Schweikher House Preservation Trust. The lease commenced April 8, 1999, and expires April 7, 2024.
The Village has requested a new 50-year lease of the subject property for continued public recreational use. These public uses include access and parking areas for the Schweikher House, a natural meadow area with pathways, and temporary art and sculpture installations.
The District’s technical departments have reviewed the subject request and have no objections thereto. Under 70 ILCS 2605/8c(11), the lease is terminable upon the service of one-year’s notice if the property becomes essential to the District’s corporate needs. In addition, the Village has submitted its green infrastructure plan for the Engineering Department’s review and approval, which includes protected natural areas that are maintained to control invasive plants and to promote biodiversity.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the District to enter into a 50-year lease with the Village of Schaumburg for the continued use of 4.99± acres of District real estate located at 645 Meacham Road in Schaumburg, Illinois for public recreational use. Consideration shall be a one-time fee of $10.00, plus 25% of annual net revenues derived from the premises.
It is further requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the Chairman of the Committee on Finance and the Clerk to execute said lease agreement after it is approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:BJD:MSZ
Recommended, Brian A. Perkovich, Executive Director
Disposition of this agenda item will be documented in the official Regular board Meeting Minutes of the Board of Commissioners for December 21, 2023
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