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City of <br />Elk - <br />River <br />To <br />City Council <br />Meeting Date <br />May 20, 2024 <br />Item Description <br />Agreement 24-14: Two Brothers Hockey Lease <br />Agreement <br />Request for Action <br />Item Number <br />8.2 <br />Prepared By <br />Joe Stremcha, Business Services Director/Assistant <br />City Administrator <br />Reviewed by: <br />Lori Stich <br />Joe Stremcha <br />Cal Portner <br />Tina Allard <br />Action Requested <br />Approve, by motion, a lease agreement with Two Brothers Hockey that matches the terms and conditions of <br />their prior sublease agreement with iBackCheck. <br />Background/Discussion <br />iBackCheck was provided notice that the lease agreement will be terminated effective May 31, 2024. Two <br />Brothers Hockey has a sublease agreement for a portion of space leased by iBackCheck. That lease agreement <br />expires on July 31, 2024. The City Council had a consensus to support business continuity for Two Brothers <br />Hockey during this transition at their meeting on May 6, 2024. <br />Staff recommends that the lease agreement terms be matched by the city and maintained through July 3 I, <br />2024. Staff will conduct market research over the next month and present to the City Council updated rental <br />rates to consider at a June work session based on the findings. <br />Financial Impact <br />None <br />Mission/Policy/Goal <br />Work with citizens to achieve goals. <br />Attachments <br />I. Communication with Two Brothers Hockey <br />2. Signed Sublease <br />The Elk River Vision <br />A avelcoming community with revolutionary and spirited resourcefulness, exceptional service, and community p p W E H E 0 6 <br />engagement that encourages and inspires prosperity <br />430 <br />