TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 17, 2018
COMMITTEE ON REAL ESTATE
Mr. David St. Pierre, Executive Director
Title
Authority to amend lease agreement dated June 15, 2000, between the District and Lakeshore Recycling Systems, LLC on 6.79 acres of District real estate located at 3152 South California Avenue in Chicago, Illinois; Main Channel Parcels 42.08 and 42.12 to allow an additional use of installing a floating barge dock along the western edge of its leasehold and southernmost tip of the Collateral Channel. Consideration shall be a $5,000.00 document preparation fee
Body
Dear Sir:
Lakeshore Recycling Systems, LLC ("Lakeshore") leases 6.79 acres of District real estate located at 3152 South California Avenue in Chicago, Illinois; Main Channel Parcels 42.08 and 42.12 under a 39-year lease that commenced June 15, 2000, and expires June 14, 2039. Under the lease, as amended, Lakeshore operates a transfer station for municipal solid waste and reprocessable construction and demolition materials. Lakeshore’s current annual rent is $224,401.94.
Lakeshore has requested to amend its lease to allow the additional use of installing and maintaining a temporary floating barge dock along the western edge of its leasehold and along the southernmost tip of the Collateral Channel. The dock would allow Lakeshore to load and transfer materials to and from its leasehold site.
The District's technical departments have reviewed Lakeshore's request and have no objections thereto. Such use is not anticipated to affect any future project the District may undertake within the Collateral Channel; however, in the event it does, Lakeshore may be required to move the dock for as long a period of time that the District requires.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize an amendment to the lease agreement dated June 15, 2000, between the District and Lakeshore Recycling Systems, LLC on 6.79 acres of District real estate located at 3152 South California Avenue in Chicago, Illinois; Main Channel Parcels 42.08 and 42.12 to allow an additional use of installing a floating barge dock along the western edge of its leasehold and southernmost tip of the Collateral Channel. Consideration shall be a $5,000.00 document preparation fee.
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the Chairman of the Committee on Finance and the Clerk to execute the lease amendment after it is approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:CMM:nhb
Recommended, David St. Pierre, Executive Director
Respectfully Submitted, David J. 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 May 17, 2018
Attachment