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City <br /> PettT\_ AGENDAITEM #10.7. <br /> Lakes- <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: November 6, 2008 <br /> Subject: Pequot Lakes Historical Society Lease of Cole <br /> Building <br /> Report: Staff has been working with the Pequot Lakes <br /> `�- Historical Society and the City's Attorney to draft a new <br /> lease agreement for the lease of the Basement of the Cole <br /> Memorial Building. <br /> The previous lease allowed the Historical Society to lease <br /> the entire building and then sublease the main floor to the <br /> Senior Citizens. The new lease has been drafted by Paul <br /> Sandelin. This agreement leases only the basement of the <br /> Cole Memorial Building to the Pequot Lakes Historical <br /> Society for twenty five years. The City will be maintaining <br /> and handling the main floor of the building. <br /> Council Action Requested: Council motion to enter into <br /> approve the attached Lease Agreement. <br /> L., <br />