R-53-07 Establishing a per sq ft Rate for Leasing of Village Property along the Illinois and Michigan Canali
RESOLUTION /1 - S S - 7
A RESOULTION ESTABLISHING A PER SQ FT RATE FOR
LEASING OF VILLAGE PROPERTY ALONG THE ILLINOIS AND
MICHIGAN CANAL
WHEREAS, the Village of Lemont seeks to establish a leasing rate that is fair and
equitable to both the leasee and the Village of Lemont based on current market values;
and,
WHEREAS, the Village of Lemont has received a recommend leasing rate from
professional consultants based on current market values for this region of the greater
Chicago Metropolitan Area; and,
WHEREAS, the Village of Lemont has analyzed these figures and believe them to
be a fair and equitable rate.
NOW, THEREFORE BE IT RESOLVED by the Village President and Board of Trustees
of the Village of Lemont that the Village establishes a base rate for leasing of Village Canal
property of $0.40 per sq for the FY 2007 -2008.
FURTHER; BE IT RESOLVED, that a cost of living adjustment of three percent (3 %) be
calculated on an annual basis prior to the execution of the leases on an annual basis.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT, COOK, WILL AND DU PAGE COUNTIES ILLINOIS
on this 9th Day of July , 2007.
Debby Blatzer
Peter Cowles
Clifford Miklos
Brian Reaves
Ronald Stapleton
Jeanette Virgilio
Attest:
AYES NAYS PASSED ABSENT
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4.c.�
JO ` PIAZ , Vill ge President
CHARLENE SMOLLEN, Village Clerk