TRANSMITTAL LETTER FOR BOARD MEETING OF FEBRUARY 21, 2008
COMMITTEE ON REAL ESTATE
Mr. Richard Lanyon, General Superintendent
Title
Amend Board Order of September 6, 2007, authorizing the execution of an agreement with Shelbourne Development, Ltd. for abandonment of the District’s underground facilities and the installation of a District telecommunications repeater station at the Chicago Spire site located south of East Illinois Street and west of Lake Shore Drive in Chicago to reflect authority to enter into the Relocation Agreement with the Developer, Chicago Spire, LLC, and authority to enter into the Telemetry Easement Agreement, the Notice of Intent to Grant Easement, and other necessary documents with the owner of the land, Shelbourne North Water Street, L.P., and signed by its General Partner, Shelbourne North Water Management, LLC, and its Manager, Shelbourne Development Chicago, Inc.
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Dear Sir:
At its September 6, 2007, meeting, the District’s Board of Commissioners granted authority to enter into an agreement with Shelbourne Development, Ltd., for abandonment of the District’s underground facilities and the installation of a District telecommunications repeater station at the Chicago Spire site located at 400 North Lake Shore Drive in Chicago.
The Developer of the Chicago Spire skyscraper has now requested that the name of the entity entering into the facilities relocation agreement be changed to Chicago Spire, LLC, (the project’s Developer) and the name on the Telemetry Easement Agreement and Notice of Intent Grant Easement be changed to Shelbourne North Water Street L.P., and that its General Partner, Shelbourne North Water Management, LLC, and its Manager, Shelbourne Development, Inc., execute the agreements and documents on behalf of Shelbourne North Water Street, L.P.
Shelbourne North Water Street, L.P. has provided proof that it owns the Chicago Spire property and that it, its Manager, and its General Partner are properly formed entities in good standing with their respective states of incorporation or organization and have indicated they have authority to enter into and sign the Relocation Agreement, the Telemetry Easement Agreement, the Notice of Agreement to Grant Easement, and any other documents necessary to effectuate this transaction. Additionally, Chicago Spire, LLC is the Developer of the project.
Accordingly, it is requested that the General Superintendent recommend that Orders be issued amending the September 6, 2007, Orders authorizing the execution of an agreement with Shelbourne Development, Ltd. for abandonment of the District’s underground facilities and the installation of a District telecommunications repeater station at the Chicago Spire site located south of East Illinois Street and west of Lake Shore Drive in Chicago to reflect authority to enter into the Relocation Agreement with the Developer, Chicago Spire, LLC, and authority to enter into the Telemetry Easement Agreement, the Notice of Intent to Grant Easement, and other necessary documents with the owner of the land, Shelbourne North Water Street, L.P., and signed by its General Partner, Shelbourne North Water Management, LLC, and its Manager, Shelbourne Development Chicago, Inc.
It is further requested that the General Superintendent recommend to the Board of Commissioners that it direct the Chairman of the Committee on Finance and the Clerk to execute the Relocation Agreement, the Telemetry Easement Agreement, the Notice of Intent to Grant Easement, and any other documents necessary to effectuate the subject transaction once approved by the Chief Engineer as to technical accuracy and by the Attorney as to form and legality.
Requested, Frederick M. Feldman, Attorney, FMF:CL: STM: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 February 21, 2008. Approved, President Terrence J. O’Brien