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Council debates long-term lease for Oakbrook Terrace Park District as park seeks multimillion-dollar renovations
Summary
City leaders discussed a request from the Oakbrook Terrace Park District to extend its long-term lease as the district plans several million dollars in shoreline, walkway and landscaping renovations; aldermen pressed for stronger protections and the mayor proposed a shorter term with an 'out' clause.
Oakbrook Terrace City Council members spent the Committee of the Whole discussing a requested extension to the Park District's long-term lease during their Feb. 24 meeting.
The Park District seeks another multi-decade term to underpin plans for "several million dollars in renovations, including landscaping, new walkway, a walkout pier, and improvements to the shoreline landscaping," according to the meeting record. The city currently holds a 60-year lease with the Park District that expires in 2040, a fact staff highlighted while summarizing the request.
Alderman Greco said he was concerned about granting another 60-year lease without sufficient safeguards for the city. City Attorney R. Ramello told the council that a district default would revert ownership of the land to the city but that if the Park District were to "disconnect" from the City the parties would need to negotiate modifications to the lease. Mayor Paul Esposito recommended a 40-year extension instead of 60 and asked that an "out" clause be included to give the city greater flexibility.
City staff said they would have the city attorney review lease language to better protect municipal interests and that staff member Tanya would pursue potential grant opportunities to help fund the improvements. No formal lease vote occurred at the Feb. 24 meeting; the discussion was moved forward for further review.
