Title
AUTHORITY FOR THE ADOPTION OF A RESOLUTION TO LEASE PROPERTY WITHIN RIIS (JACOB) PARK (PARK#123) AND ENTER INTO AN INTERGOVERNMENTAL AGREEMENT WITH THE CHICAGO BOARD OF EDUCATION FOR THE CONSTRUCTION OF A NEW SCHOOL BUILDING AND USE OF THE NEW FACILITIES
Body
To the Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the General Superintendent and CEO or his designee to approve the lease of property and improvements to such property to the Board of Education for the construction of a new school and use of facilities by the Park District located at 6100 West Fullerton Avenue, known as Riis (Jacob) Park (#123).
II. Agreement Information
Lessor: Chicago Park District
541 N. Fairbanks Ct
Chicago, IL 60611
Transaction: Ground Lease-Intergovernmental Property Transfer in accordance with 50ILCS 605/2(a) of the Local Government Transfer Act
Lessee: Chicago Board of Education
42 West Madison Street, 3rd Floor
Chicago, IL 60603
Granting Instrument: Ground Lease
Authorization: Authorize the General Superintendent to negotiate, enter into, the ground lease 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 General Superintendent to execute the Agreement and the Secretary to attest as to the signing of the Agreement and keep an original copy of the Agreement on file.
III. Explanation
The Chicago Park District owns property bounded by North Meade Avenue, West Fullerton Avenue, North Narragansett Avenue, and West Wrightwood Avenue, more commonly referred to as Riis (Jacob) Park (#123) located in the Belmont-Cragin Com...
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