Title
Resolution authorizing the County Board Chairman to execute a lease amendment with the United States Postal Services for tower lease space, including the non-exclusive use of electricity, in the Lessor's communication equipment building located at 1303 North Milwaukee Avenue, Libertyville, Illinois.
Staff Summary
• Lake County has leased the tower space to the United States Postal Services since 2011.
• The current lease has an expiration date of October 31, 2017
• Lake County and the United States Postal Services mutually agree to extend the term of the lease for an additional five-year term with a three percent annual increase in rent, extending the lease term to October 31, 2022.
• The amount paid to the County for the entire lease agreement is expected to be $38,036.
Body
RESOLUTION
WHEREAS, the current lease agreement with United States Postal Services, for Tower Lease space located at 1303 North Milwaukee Avenue, Libertyville, Illinois 60048 is set to terminate on October 31, 2017.
WHEREAS, Lake County and the United States Postal Services mutually agree to extend the term of the lease for an additional five-year term with a three percent annual increase in rent.
WHEREAS, the lease amendment extends the lease term to October 31, 2022.
WHEREAS, the amount paid to the County for the entire lease agreement is expected to be $38,036.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the Chairman of the Board be authorized to execute the attached lease amendment between the United States Postal Services and the County.
DATED at Waukegan, Illinois, June 13, 2017.