File #: 18-4289    Version: 1 Name: Vero Fiber Networks, LLC
Type: License Agreement Status: Approved
File created: 6/11/2018 In control: Board of Commissioners
On agenda: 6/27/2018 Final action: 6/27/2018
Title: PROPOSED LICENSE AGREEMENT Department: Department of Real Estate Management Request: Approval of a new License Agreement Licensor: County of Cook Licensee: Vero Fiber Networks, LLC Location: Along 127th Street underneath Timberline Drive, Eagle Crest Drive, Leinster Drive, Emerald Drive, State Street Term/Extension Period: 7/1/2018 - 6/30/2028 Space Occupied: N/A Monthly Rent: $4,023.28 (adjusted as of July 1 of every year during the term based on percentage increase of Consumer Price Index) Fiscal Impact: $40,232.80 ("Revenue Generating") Accounts: N/A Option to Renew: N/A Termination: If Grantee fails to fulfill annual fee and insurance requirements, County may revoke license at any time after 7/1. Utilities Included: N/A Summary/Notes: This License is in accordance with Cook County Code Chapter 66, Road and Bridges, Article 3, Public Way Regulatory Ordinance. Upon issuance of this License, Grantee shall have the authority to apply for...
Indexes: (Inactive) JESSICA CAFFREY, Director, Real Estate Management Division, (Inactive) JOHN YONAN, P.E., Superintendent, Department of Transportation and Highways

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PROPOSED LICENSE AGREEMENT

 

Department:  Department of Real Estate Management

 

Request:  Approval of a new License Agreement

 

Licensor:  County of Cook  

 

Licensee:  Vero Fiber Networks, LLC  

 

Location:  Along 127th Street underneath Timberline Drive, Eagle Crest Drive, Leinster Drive, Emerald Drive, State Street 

 

Term/Extension Period:  7/1/2018 - 6/30/2028  

 

Space Occupied:  N/A

 

Monthly Rent:  $4,023.28 (adjusted as of July 1 of every year during the term based on percentage increase of Consumer Price Index)

 

Fiscal Impact:  $40,232.80 (“Revenue Generating”)  

 

Accounts:  N/A

 

Option to Renew:  N/A

 

Termination:  If Grantee fails to fulfill annual fee and insurance requirements, County may revoke license at any time after 7/1.

 

Utilities Included:  N/A

 

Summary/Notes:  This License is in accordance with Cook County Code Chapter 66, Road and Bridges, Article 3, Public Way Regulatory Ordinance. Upon issuance of this License, Grantee shall have the authority to apply for permits in order to construct, install, replace, relocate, modify, maintain and remove its facilities located in the public ways of Cook County.

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