TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 5, 2008
COMMITTEE ON REAL ESTATE
Mr. Richard Lanyon, General Superintendent
Title
Authority to issue a 9-month permit extension to Corn Products U.S. on approximately 14.02 acres of District land located at 6400 South Archer Avenue in Bedford Park, Cook County, Illinois, and known as Main Channel Atlas Parcel 33.01. Consideration shall be $71,250.00
Body
Dear Sir:
Corn Products U.S. (Corn Products) occupies approximately 14.02 acres of District land located at 6400 South Archer Avenue in Bedford Park, Cook County, Illinois, and known as Main Channel Atlas Parcel 33.01 under a 9-month permit that expires June 30, 2008. Corn Products originally had a 50-year lease that expired on December 31, 2006. After expiration of the lease, Corn Products continued to occupy the site under a permit pending completion of statutory leasing procedures. Corn Products requests the extension of the permit to allow it to continue to occupy the site pending completion of statutory leasing procedures. It is recommended that the permit be extended for 9 months.
The subject property contains a water pumping station that is utilized in connection with Corn Products’ plant located to the east of the site.
The permit fee of $71,250.00 is based on the property’s appraised fair market value prorated for 9 months in accordance with District policy.
It is requested that the General Superintendent recommend to the Board of Commissioners that it authorize the issuance of a 9-month permit extension to Corn Products U.S. on 14.02 acres of District real estate located at 6400 South Archer Avenue in Bedford Park, Illinois, and known as Main Channel Parcel 33.01 for a consideration of $71,250.00.
It is further requested that the General Superintendent 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 once approved by the Attorney as to form and legality.
Requested, Frederick M. Feldman, Attorney, FMF:CL:JCC:nm
Recommended, Richard Lanyon, General Superintendent
Respectfully Submitted, Terrence J. O’Brien, Chairman Committee on Real Estate Development
ORDERED passed by affirmative roll call vote of a majority of the Commissioners present this June 5, 2008. Approved, President Terrence J. O’Brien
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