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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 10.1 <br /> Agenda Section Meeting Date Prepared by <br /> Work Session October 3, 2016 Cal Portner, City Administrator <br /> Item Description Reviewed by <br /> Discuss Chamber of Commerce Building <br /> Reviewed by <br /> Action Requested <br /> Discuss Chamber of Commerce building and provide direction. <br /> Background/Discussion <br /> The city and the Elk River Area Chamber of Commerce entered into a lease agreement for the city- <br /> owned property they presently occupy on September 1, 1994,with a termination date of Sept. 1, 2009. <br /> The chamber exercised their option to extend the lease for one period of five years,which terminated on <br /> September 1, 2014. <br /> In 2014, the chamber and council negotiated a lease renewal amendment to extend the lease for up to <br /> three years with an option for two single-year extensions. <br /> The Chamber Board is looking at building options to meet their needs for additional office and meeting <br /> room space. They are seeking council feedback regarding the following: <br /> 1) The city's short- and long-term plans for the property. <br /> 2) Consideration of expansion plans,including a long-term lease and/or option to purchase. <br /> 3) Assistance with financing of potential expansion. <br /> 4) Financial participation in building improvements. <br /> Financial Impact <br /> NA <br /> Attachments <br /> ■ None <br /> POWERED 6T <br /> A IR <br />