Laserfiche WebLink
-I/ <br /> River <br /> 13065 Orono Parkway City of Elk River <br /> Elk River,MN 55330 Business Incubator <br /> Proposal for Fourth Term Lease Renewal <br /> • Term: Two (2) years,April 15, 2005 -April 15, 2007 <br /> —Option to end term after one year (April 15, 2006) with 60-day notice <br /> • Space: EDA (tenant) to lease the 3 following suites and interior common areas (conference room, <br /> restrooms, hallways, etc.): <br /> Suite 120 2,267sf <br /> Suite 130 1,041sf <br /> Suite 240 1,493sf <br /> Common Areas 1,768sf <br /> Total 6,569sf <br /> • Lease Rate: $2.10 per square foot or $1,149.58 per month ($13,794.90 per year) <br /> • <br /> • Maintenance Rate: $0.09 per square foot or $49.27 per month ($591.21 per year) to be paid in <br /> addition to Lease Rate <br /> —Mr. Hickman (landlord) responsible for all building maintenance specified within Primary <br /> Lease as well as interior common areas (conference room, restrooms, hallways, etc.) <br /> • Incubator Tenant Stock Options: To remain equally distributed between Genesis Business Centers, <br /> Mr. Hickman, and EDA <br /> • Repayment Agreement: Landlord repayment balance to EDA was $0 on March 31, 2004 <br /> Proposed by: <br /> Heidi Steinmetz,Assistant Dirltor of Economic Development Date <br /> Accepted by: <br /> • Larry Hickman, Building Landlord Date <br /> Phone:763.635.1000 <br /> Fax:763.635.1090 <br /> www.ci.elk-river.mn.us <br />