11.06 -Trailside Building Lease - Laserfiche WebLink

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AGENDA ITEM #11 .6 REPORT TO CITY COUNCIL Date: June 7, 2005 Subject: Trailside Building Lease Report: Attached are two leases for Council review. Trailside Building Lease The Council reviewed this in October and November of 2004. The Chamber and City have cleared up all previous issues except for the possibility of the Chamber purchasing the building after it is paid for. The language in the lease allows for the sale of the building to the Chamber for$1.00 after the building is paid in full by the Chamber. The balance due on the building is approximately$67,000, Bobber Water Tower Lease The Bobber water tower lease has been redrafted with changes to reflect the new chamber name. The Council already motioned to keep the terms the same in regard to the $150.00 payment to the City for water tower demolition should it become necessary and for the Chamber to continue to keep the lease revenue from the Smokey Hollow Fish Store. The only issue with the lease relates to money that may be left over after the water tower is demolished. The lease agreement states that the money be given back to the Chamber. Is this the intention of the Council? Council Action Requested: Council motion entering into the Trailside Building Lease and into the Bobber Water Tower Lease.