P-14010 Management and Operation of Chicago Park District Harbor System

The Chicago Park District has awarded a contract to Westrec Marina Management, Inc. for the management and operation of the Chicago Park District Harbor System. The contract has a term of 10 years, with the option to renew for an additional year. Westrec will be responsible for managing, operating, and maintaining the harbor facilities, including providing security, maintenance, and landscaping services. The contract also includes provisions for capital improvements, funding, and budgeting. The Chicago Park District will pay Westrec a management fee, which will be based on the gross operating revenues of the harbor facilities. The contract includes negative covenants, which restrict Westrec from engaging in certain activities, such as competing with the Chicago Park District. • The contract is for the management and operation of the Chicago Park District Harbor System. • The term of the contract is 10 years, with the option to renew for an additional year. • Westrec will be responsible for managing, operating, and maintaining the harbor facilities. • The contract includes provisions for capital improvements, funding, and budgeting. • The Chicago Park District will pay Westrec a management fee, which will be based on the gross operating revenues of the harbor facilities. • The contract includes negative covenants, which restrict Westrec from engaging in certain activities.