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/j <br />Elty of <br />Elk --.-~ <br />River <br />REQUEST FOR ACTION <br />To Item Number <br />Ci Council 3.4. <br />Agenda Section Meeting Date Prepared by <br />Consent ul 20, 2009 Tim Simon, Finance Director <br />Item Description Reviewed by <br />Lease Renewal with Elk River Area Chamber of Commerce <br /> Reviewed by <br />Action Requested <br />Approval of five (5) year renewal of the original 15 year lease term, under the same terms and conditions <br />with Elk River Area Chamber of Commerce <br />Background/Discussion <br />In 1994, the City entered into a lease with the Elk River Area Chamber of Commerce for the use of a City <br />owned building, which the City received as a donation. The location of the parcel of property is the same <br />location as the old creamery/City Hall site at Main Street and Highway 10. The lease provided an initial <br />15 year term with a tenant option to renew the lease for one period of five years upon the same terms and <br />conditions as provided in the original 15 year term lease. The tenant must give the City written <br />notice at least 60 days prior to September 1, 2009. The final maturity on the lease will be September 1, <br />2014. <br />Building Official Bob Ruprecht recently visited the site and is okay with the condition and care taken at <br />the building. I have received copies of insurance certificates to ensure compliance with the liability <br />requirements of the lease. <br />Financial Impact <br />One ($1) dollar per year as rent payment. All utilities and costs associated with the building are paid by <br />the tenant. <br />Attachments <br />• Copy of letter from Elk River Area Chamber of Commerce <br />• Sherburne County GIS picture of property and address <br />Action Motion by Second by Vote <br />Follow Up <br />C:\Documents and Settings\jjohnson\Local Settings\Temporary Internet Files\OLK49\chamberleaserenewal.doc <br />