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AGENDA ITEM #5 <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: February 1, 2005 <br /> Subject: Update on Old City Hall <br /> Report: Sheila Holley from Edina Realty will be present <br /> to discuss recent activity on the old city hall property. <br /> Kurilla Reality has someone interested in the possibility of <br /> `- leasing the property. The terms would be 4 — 10 year <br /> consecutive leases at $7.00 a square foot — approximately <br /> $8,700 per month. <br /> Sheila will have more information on Tuesday evening. <br /> She is mainly looking to see if the Council would consider <br /> leasing the building. <br /> Council Action Requested: Council decision as to <br /> whether they are open to leasing the building. <br />