Title
Joint resolution recommending a fee increase from $0.22 per square foot to $0.44 per square foot for the license/lease agreements on the former Chicago, North Shore and Milwaukee Railroad right of way for businesses or private parties.
Staff Summary
• Chicago, North Shore and Milwaukee Railroad Right of Way License/Lease Agreement Fee Increase Recommendation.
• Lake County purchased the former Chicago, North Shore and Milwaukee Railroad right of way in 1966.
• There are currently 29 active license/lease agreements approved for use.
• 12 of those agreements are for businesses or private parties that use the right of way for parking or private use and the established fee is collected.
• The remaining 17 are agreements with municipalities or government agencies that use the right of way for public benefit; there is not a fee charged for public use.
• The original license/lease fee established in 1966 was $0.08 per square foot, with an increase to $0.22 per square foot in 1988.
• A review has been completed by consulting a licensed real estate appraiser, and the recommended adjustment in the fee is based on the Consumer Price Index for All Urban Consumers (CPI-U) from 1988 to 2015.
• This resolution recommends an increase from $0.22 per square foot to $0.44 per square foot effective January 2016.
Body
RESOLUTION
WHEREAS, Lake County purchased the former Chicago, North Shore and Milwaukee Railroad Right-of-Way in 1966; and
WHEREAS, there are currently 29 active license/lease agreements approved for use, of which 12 are for businesses or private parties that use the right-of-way for parking or private use and are charged a license/lease fee, and the remaining 17 are municipalities or government agencies that use the right-of-way for public benefit; and
WHEREAS, the original license/lease fee established in 1966 was $0.08 per square foot, with an increase to $0.22 per square foot in 1988; and
WHEREAS, a review has been completed by Lake County Division of Transportation staff by consulting a licensed real estate appraiser, and the recommended adjustment in the fee is based on the Consumer Price Index for All Urban Consumers (CPI-U) from 1988 to 2015; and
WHEREAS, the recommendation is to increase the fee for business or private parties from $0.22 per square foot to $0.44 per square foot effective January 1, 2016.
NOW, THEREFORE BE IT RESOLVED by this Lake County Board, that the County Engineer is hereby authorized and directed to notify each business or private party licensee/leasee of the fee increase from $0.22 per square foot to $0.44 per square foot and implement the fee increase effective January 1, 2016.
DATED at Waukegan, Illinois, on December 8, 2015.