Title
AUTHORITY TO ENTER INTO AN EXTENSION TO THE OPERATING AGREEMENT
WITH THE LINCOLN PARK ZOO SOCIETY
Body
To: The Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that an order be entered into authorizing the General Superintendent, or his designee, to negotiate and enter into an extension of the operating agreement with the Lincoln Park Zoo Society (Society) to continue to have the Society operate, fundraise and manage the Lincoln Park Zoo.
II. Agreement Information
Operator: Lincoln Park Zoological Society
2001 N. Clark Street
Chicago, IL 60614
Agreement Type: Operating Agreement
Agreement Term: December 31, 2049
Authorization: Authorize the General Superintendent to negotiate, enter into, and execute such agreements and instruments and perform any and all acts as shall be necessary or advisable in connection with the transactions described herein, including compliance with conservation easements, permits, applicable funding source requirements and regulatory requirements. Authorize the General Counsel to include other relevant terms and conditions in the written agreements and permit instruments. Authorize the Secretary to attest as to the signing of the agreements and other documents and keep an original of such documents on file.
III. Budget and Financial Information
Budget Classification: Operating
Fiscal Year: Various
Source of Funds: 001.8200.8200.625005.00001.01.01.00001
IV. Explanation
In 1995, the Park District and the Society entered into an agreement to transfer the operations, fundraising and management of the Lincoln Park Zoo to the Society. The agreement has a term that ends on 12/31/2024.
The Society has done an excellent job in managing the zoo and over the years has increased the budget to provide for new exhibits and improved animal welfare.
The Society receives an annual subsidy of $5.59 million from the Park District which represents about 20% of the ope...
Click here for full text