Title
Boley Farm/Farm Stand Rental Agreement
History
On August 31, 2001 the Village purchased the Boley Farm located at 8101 West 151st Street subject to a life estate of the seller, Glenn B. Boley. Mr. Boley passed away on April 3, 2014 thus bringing the terms of the life estate to an end.
Mr. Boley had for many years leased space on the Farm to Mr. Henry (Hank) J. Jacobs to operate a farm stand and a small planted area (field acreage of 2.12 acres, a barn measuring 46 feet by 72 feet and parking lot of approximately one-third (1/3) of an acre). Mr. Jacobs has approached the Village requesting to continue with this arrangement for two (2) terms. The terms of this agreement shall be March 2, 2014 through November 15, 2014, and March 1, 2015 through November 15, 2015.
A draft agreement is attached for your review and consideration.
Financial Impact
The Village will receive a sum of $15,000.00 for each of the two (2) terms, both totaling to $30,000.00.
Recommended Action/Motion
I move to approve the Boley Farm/Farm Stand Rental Agreement with Henry (Hank) J. Jacobs for two terms.