It looks like a village-owned property on Pyott will soon have a new renter.
The Lake in the Hills Village Board on Thursday approved an equestrian center lease with the owner of Dynasty Farm, Inc., Jennifer Valanti, for the property at 1109 Pyott Road. Valanti will use the facility for boarding and training horses.
The lease includes the 9.5 acres of land and all of the primary buildings except for the main barn, according to village board documents.
The village has been looking for someone to lease the property since the last renter left the stable facility in a state of disarray — littered with piles of debris and manure. The village cleaned up the property and put it back up for rent.
As part of her the lease, Valanti has agreed to make further repairs to the facility in exchange for reduced rental costs, according to village documents. Under the lease agreement, Valanti will repair stall walls, purchase new automatic waterers and repair all missing stall doors.
In return, the village will not charge Valanti any rent from the start of the lease on Feb. 1 through April. From there, rent will increase to $1,000 per month through September and then $1,500 per month in October. Her second year, she will be charged $2,000 per month.
The lease will require quarterly manure removal and continued insurance coverage through the duration of the lease, according to village documents.
The property was given to the village by the Gordon and Joann Larsen who have since passed away and were both influential to the village of LITH. The Algonquin-Lake in the Hills Interfaith Food Pantry is located at a renovated pole barn on the property.