TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 2, 2024
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
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Authority to grant a 25-year, 53,812 sq. ft. non-exclusive easement to Commonwealth Edison Company to install, construct, operate, maintain, repair, remove, and replace poles, electrical transmission lines, and related facilities over, under, across, and through District real estate located south of the Main Channel along Cico Road in Lemont, Will County, Illinois. Consideration shall be an initial annual fee of $6,700.00
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Dear Sir:
Commonwealth Edison Company (“ComEd”) has requested a 25-year, 53,812 sq. ft. non-exclusive easement to install, construct, operate, maintain, repair, remove, and replace poles, electrical transmission lines, and related facilities over, under, across, and through District real estate located south of the Main Channel along Cico Road in Lemont, Will County, Illinois, known as Main Channel Parcels 21.02, 21.07, 21.09 and 21.11. The purpose of the easement is to extend electrical transmission lines to the District's tenant, Noramco Corporation.
The District’s technical departments have reviewed ComEd’s request and have no objections thereto. An initial annual easement fee of $6,700.00 is recommended, which represents 10% of the easement premises’s appraised fair market value.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the grant of a 25-year, 53,812 sq. ft. non-exclusive easement to Commonwealth Edison Company to install, construct, operate, maintain, repair, remove, and replace poles, electrical transmission lines, and related facilities over, under, across, and through District real estate located south of the Main Channel along Cico Road in Lemont, Will County, Illinois. Consideration shall be an initial annual fee of $6,700.00.
It is also 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 easement agreement after it is approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:BJD:MM:vp
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 May 2, 2024
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