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AUTHORIZATION TO ENTER INTO A CONCESSION PERMIT AGREEMENT WITH PARK RESTAURANTS, LLC FOR NORTH POND RESTAURANT: YEAR-ROUND OPERATION AND CAPITAL IMPROVEMENTS
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To the Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
Pursuant to Chapter IX of the Code of the Chicago Park District, it is recommended that the General Superintendent and CEO or his designee enter into a Concession Permit Agreement with Park Restaurants, LLC for the year-round operation at and capital improvements to the restaurant in Lincoln Park known as North Pond Restaurant. The Chicago Park District's competitive and public process for awarding concessions was suspended for this opportunity.
II. Award Information
Concessionaire: Park Restaurants, LLC
3424 S. State
Chicago, IL 60616
Company Type: Illinois Limited Liability Corporation
Majority Interests: Richard Mott 47.13%
Bruce Sherman 27.11%
21 other individuals = 7.07%
Concession Permit
Agreement Term: 10 year initial term with five (5) one (1) year extension options. The extension options are exercisable solely at the discretion of the Chicago Park District.
Scope of Services: The year-round operation of and capital improvements to the restaurant in Lincoln Park known as North Pond Restaurant.
Affirmative
Action Goals: Park Restaurants will use their best efforts to include MBEs and WBEs for the restaurant operation and capital improvements.
Authorization: Authorize the General Counsel to include other relevant terms and conditions in the written Concession Permit Agreement. Authorize the General Superintendent to execute the Concession Permit Agreement and the Secretary to attest as to the signing of the Concession Permit Agreement and keep an original copy of the Concession Permit Agreement on file.
III. Business Terms
See Exhibit A.
IV. Notice of Availability and Selection Process
The Chicago Park District's ("CPD") competitive and public process for awarding con...
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