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To <br />Mayor and City Council <br />Agenda Section Meeting Date <br />Consent November 7, 2022 <br />Item Description <br />SBC Agreement <br />Request for Action <br />Item Number <br />4.7 <br />Prepared by <br />Cal Portner, City Administrator <br />Reviewed by <br />Peter Beck, City Attorney <br />Reviewed by <br />Action Requested <br />Approve, bar motion, an agreement terminating the management agreement between the City of Elk River and <br />Serrano Brothers Catering. <br />Background/Discussion <br />The city and Serrano Brothers Catering (SBC) entered into a management agreement for concessions and <br />exclusive catering at the Furniture & Things Community Event Center. <br />SBC made a number of investments into the concession stand to convert it to a hill cafe kitchen. Operational and <br />pandemic challenges resulted in a scenario in which continuing the partnership vas not in the interest of either <br />party. <br />Financial Impact <br />SBC proposed and the city accepted a payment of $40,000 to SBC for termination of the management agreement. <br />The payment will reimburse SBC for some of its estimated $150,000+ investment in improvements and <br />equipment for the concession stand all of which will become the property of the city. The agreement also settles <br />any and all claims between SBC and the city related to the management agreement. <br />Mission/Policy/Goal <br />Elk River Nlission Statement <br />Attachments <br />■ Agreement <br />The Elk River Vision <br />_4 Trelc'onllrrg c'onlnlruritp lath lerolrltioliag rllid ,0ilzted lesolllz'efrlllless, e.tic'eptiolml <br />se17'IC'e, llll(1 C'o11711711111t) elhlhe117el1t that ell6'olll7T�es llll(1111. 11e.�' p10.+pelzt). <br />P'0WIfl'10 0Y <br />M <br />WREE <br />L pdaled: _4llgllst 2020 <br />