HomeMy WebLinkAbout 5.4 A RESOLUTION AUTHORIZING PAYMENT TO THE MOUNT PROSPECT PUBLIC LIBRARY UNDER THE TERMS OF A GROUND LEASE AGREEMENT Access4/15/2020 BoardDocs® Pro
Agenda Item Details
Meeting Dec 03, 2019 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00 p.m.
Category 5. CONSENT AGENDA
Subject 5.4 A RESOLUTION AUTHORIZING PAYMENT TO THE MOUNT PROSPECT PUBLIC LIBRARY
UNDER THE TERMS OF A GROUND LEASE AGREEMENT
Access Public
Type Action (Consent)
Preferred Date Dec 03, 2019
Absolute Date Dec 03, 2019
Fiscal Impact Yes
Dollar Amount 1.00
Budgeted Yes
Recommended Action The Village Board pass the accompanying Resolution authorizing the annual lease payment
to the Mount Prospect Public Library.
Public Content
Information
In December 2002, the Village entered into a ground lease with the Mount Prospect Public Library to facilitate the
construction of a multi-level parking structure. The parking structure was built partially on Library property and
partially on Village property. The structure benefits both the Library and Village as well as the downtown business
district. This resolution authorizes the payment to the Mount Prospect Public Library the annual lease amount
pursuant to the agreement and reports on compliance for both the Village and Library with all material terms of the
lease. The annual lease payment is $1.00.
Alternatives
1. Pass a resolution authorizing the annual lease payment of $1.00 to the Mount Prospect Public Library for property
used for the Municipal Parking Garage.
2. Action at discretion of Village Board.
Staff Recommendation
It is recommended that the Village Board pass the accompanying Resolution authorizing the annual lease payment to
the Mount Prospect Public Library.
Administrative Content
https://go.boarddocs.com/il/vomp/Board.nsf/Private?open&login 1/2
4/15/2020
Executive Content
BoardDocs® Pro
All items under Consent Agenda are considered routine by the Village Board and will be enacted by one motion. There
will be no separate discussion of those items unless a Board member or member from the audience so requests, in
which the item will be removed from the Consent Agenda and considered in its sequence on the agenda.
Motion & Voting
(not specified)
Motion by Michael Zadel, second by Richard Rogers.
Final Resolution: Motion Carries
Yea: William Grossi, Eleni Hatzis, Paul Hoefert, Richard Rogers, Colleen Saccotelli, Michael Zadel
https://go.boarddocs.com/il/vomp/Board.nsf/Private?open&login 2/2
RESOLUTION NO.
A RESOLUTION AUTHORIZING PAYMENT TO THE MOUNT PROSPECT PUBLIC LIBRARY
UNDER THE TERMS OF A GROUND LEASE AGREEMENT
WHEREAS, on November 6, 2002, the Village of Mount Prospect ("the Village") and the Mount
Prospect Public Library ("the Library") entered into a Ground Lease Agreement (the "Lease")
providing, among other things, for the Village to lease certain property ("Property") from the Library;
and
WHEREAS, the Village has caused its attorney and staff to review the terms of the Lease and the
current status of the Property and its usage; and
WHEREAS, the attorney and staff have reported that both the Village and the Library are in
substantial compliance with all material terms of the Lease; and
WHEREAS, the Mayor and Board of Trustees have determined that it is in the best interests of the
Village and its residents to assure that there is continued compliance with the Lease.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the parties are in substantial compliance with all material terms of the Lease.
SECTION TWO: That the Mayor and Board of Trustees authorize the Village Director of Finance to
pay the Library such sums as are due pursuant to the Lease.
SECTION THREE: That this Resolution shall be in full force and effect from and after its passage
and approval in the manner provided by law.
AYES:
NAYS:
ABSENT:
PASSED and APPROVED this 3rd day of December 2019.
Arlene A. Juracek
Mayor
ATTEST:
Karen M. Agoranos
Village Clerk