TRANSMITTAL LETTER FOR BOARD MEETING OF AUGUST 3, 2017
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to issue lease to co-lessees Mr. John M. Markley and Mr. Tim Hackett, to farm District land located in Fulton County, Illinois, for approximately 49 acres of pasture, at a rent of $500.00
Body
Dear Sir:
At the Board Meeting of February 21, 2013, the Board of Commissioners (Board) authorized and approved the issuance of leases to certain parties to farm specific parcels of District land located in Fulton County Illinois, by Heartland Bank and Trust Company, the District’s farm Manager.
It is requested that a 49 acre tract of District land, identified as Pasture 125 in Fulton County, Illinois, be co-leased at $10.20 per acre, for the remainder of the 2017 grazing period, for a total cash rent of $500.00. Heartland recommends that the request be approved by the District.
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize and approve the lease to co-lessees Mr. John M. Markley and Mr. Tim Hackett of 49 acres of District pasture land located in Fulton County, Illinois. Consideration shall be an additional annual rental of $500.00.
It is further requested that the Board of Commissioners authorize the Chairman of the Committee on Finance and the Clerk of the District to execute the lease agreement after same is approved by the General Counsel as to form and legality.
Requested, John P. Murray, Director of Maintenance and Operations, BAP:SOC:MAG:sh
Respectfully Submitted, David Walsh, 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 August 3, 2017