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PROPOSED AGREEMENT
Vendor: Oak Park Tennis Center, River Forest, Illinois
Request: Requesting authorization for the Forest Preserve District of Cook County (“the Preserves”) to enter into an agreement
Reason: The Preserves has had a relationship with the Oak Park Tennis Center for nearly 100 years. The current agreement expires at the end of this year. This new seven (7) year agreement with one (1) optional three (3) year extension will allow the Oak Park Tennis Center to continue providing tennis related programs for youth and adult users, while also offering tennis scholarships for those who require financial assistance. This new agreement calls for an increase in financial compensation to the Preserves including a 100% increase in the base fee (to $6,000.00 in year one and $6,000.00 plus 2% compounded increase each year thereafter), and a new annual $20,000.00 capital contribution to ensure that the tennis facility remains in a good condition for the length of the agreement.
Contract period: 84 months from the issuance of the Purchase Order
Estimated Fiscal Impact: $44,605.69 (Revenue Generating) in base fees paid to the Preserves, plus a capital contribution of $140,000, over seven (7) years, with a thirty-six (36) month renewal option.
Account(s): N/A (Revenue Generating)
Concurrence(s):
The Chief Financial Officer and Chief Attorney have approved this item.
District(s): 9
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