title
PROPOSED CONTRACT AMENDMENT
Department(s): Permits, Rentals and Concessions
Vendor: Loyola University Medical Center, Maywood, Illinois
Request: Authorization for the Forest Preserves of Cook County (the "Forest Preserves") to extend contract
Good(s) or Service(s): Parking
Original Contract Period: 2/14/2018 - 2/12/2019
Proposed Contract Period Extension: 2/13/2019, retroactive - 2/12/2021
Total Current Contract Amount Authority: N/A
Original Approval: N/A
Previous Increase(s): N/A
This Increase Requested: N/A
Estimated Fiscal Impact: $158,400.00 (Revenue Generating) over two (2) years (based on 200 parking spots).
Accounts: N/A
Contract Number(s): N/A
Concurrences:
The Chief Financial Officer and Chief Attorney have approved this item.
District(s): 1
Summary: The Forest Preserves owns real property with improvements known as the Miller Meadow Parking Lot ("Parking Lot") in Maywood, Illinois. The Parking Lot currently has approximately 320 marked spaces available for parking and open to the public. Loyola University Medical Center ("Loyola") is located at 2160 S. 1st Ave and is located across from the Parking Lot, and has requested use of said Parking Lot to provide overflow parking for its employees and students. The Forest Preserves previously entered into a one-year agreement to provide temporary parking for Loyola's employees and students during their construction that recently concluded.
Loyola has now requested a longer term Parking Lot agreement with the Forest Preserves for their employees and medical students. The Forest Preserves requests authorization to extend the agreement with Loyola for an additional two-years. The fee for this agreement shall be a Parking Fee of $6,600.00 per month for 200 parking spots. Loyola agrees to indemnify the Forest Preserves and maintain an insurance policy naming the Forest Preserves as an additional insured. Loyola's access to the Parking Lot is limited to Monday t...
Click here for full text