Title
AUTHORITY TO ENTER INTO A GROUND LEASE WITH THE LUCAS MUSEUM OF NARRATIVE ART TO DEVELOP A NEW MUSEUM IN BURNHAM PARK
Body
To: The Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the Board of Commissioners of the Chicago Park District adopt a resolution authorizing a ground lease between the Chicago Park District and the Lucas Museum of Narrative Art. It is further recommended that the Board authorize the General Superintendent, or his designee, to negotiate, enter into, and execute such agreements, amendments, indemnities, and instruments and perform any and all acts as shall be necessary or advisable in connection with the transaction described herein.
II. Agreement Information
Lessor: Chicago Park District
Transaction Type: Ground Lease pursuant to the Park District Aquarium and Museum Act in accordance with 70ILCS 1290/0.01 et seq. of the Park District Aquarium and Museum Act
Lessee: Lucas Museum of Narrative Art
P.O. Box 29137
San Francisco, CA 94129
Granting Instrument: Ground Lease
Authorization: Authorize the General Superintendent to negotiate, enter into, the ground and perform any and all acts as shall be necessary or advisable in connection with the transaction described herein, including compliance with existing easements, if any, filing of street and alley vacation or dedication applications, plats of dedication, and other applicable requirements. Authorize the General Counsel to include other relevant terms and conditions in the written agreements, amendments and other instruments. Authorize the Secretary to attest as to the signing of the Agreements and keep an original copy of the Agreement on file.
III. Explanation
The Chicago Park District owns property generally bounded by East Waldron, South Burnham Harbor, McCormick Place East and South Lake Shore Drive, more commonly referred to as the south lot in Burnham Park. The P...
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