TRANSMITTAL LETTER FOR BOARD MEETING OF OCTOBER 15, 2009
COMMITTEE ON REAL ESTATE
Mr. Richard Lanyon, Executive Director
Title
Authority to amend the lease agreement with ACL Transportation Services, LLC for approximately 30.1 acres of improved real estate including Barge Slip 4 located at 16100 Des Plaines River Road in Lemont, Illinois, and known as part of Main Channel Atlas Parcel 23.01, to allow the outdoor storage of steel and shipping containers, consideration shall be a $2,000.00 document preparation fee
Body
Dear Sir:
On December 16, 2005, the Metropolitan Water Reclamation District of Greater Chicago (“District”) and Louisiana Dock Company LLC, now known as, ACL Transportation Services, LLC (“ACL”) entered into a 39-year lease agreement for approximately 30.1 acres of improved real estate including barge slip 4 located at 16100 Des Plaines River Road in Lemont, Illinois, and known as part of Main Channel Atlas Parcel 23.01. The site contains a large warehouse and office building. The subject lease presently allows for the fleeting and mooring of barges and related activities for an annual rent of $600,936.00. The subject lease expires on December 15, 2044. ACL leases an adjacent 28 acre site, including Barge Slip 3, under a separate lease. A companion letter relating to amending such lease is on the October 15, 2009 agenda as well.
The District has received a request by ACL to amend the subject lease to allow for the outdoor storage of steel and shipping containers on its leasehold premises. The District’s technical departments have reviewed ACL’s request and have no objections thereto.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize and approve an amendment to the Lease Agreement with ACL Transportation Services, LLC for approximately 30.1 acres of improved real estate including Barge Slip 4 located at 16100 Des Plaines River Road in Lemont, Illinois, and known as part of Main Channel Atlas Parcel 23.01, to allow the outdoor storage of steel and shipping containers. Consideration shall be a $2,000.00 document preparation fee.
It is further requested that the Executive Director recommend to the Board of Commissioners that the Chairman of the Committee on Finance and the Clerk be authorized and directed to execute said amendment to the Lease Agreement after it is approved by the General Counsel as to form and legality.
Requested, Frederick M. Feldman, General Counsel, FMF:CL:STM:NPE: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 October 15, 2009
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