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EGty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.11 <br /> Agenda Section Meeting Date Prepared by <br /> Consent Agenda July 6, 2015 Michael Hecker, Parks and Recreation Director <br /> Item Description Reviewed by <br /> Houlton Property Farm Lease Agreement Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Recommend,by motion, a lease agreement with Sherman Lehn to allow for continued agricultural <br /> purposes on city property. <br /> Background/Discussion <br /> The Houlton family requested that the city take over the land lease for agricultural purposes since they <br /> are required to pay property taxes thus making the revenue recovery very slim on the deferred <br /> assessments paid when they sold the property. <br /> This means that the lease agreement approved previously by City Council on December 1 between the <br /> Houlton Olson Family LLP and the city is no longer valid. <br /> The tillable land will be transitioned to prairie over the next 3-5 years. It is to the benefit of prairie grass <br /> restoration to have the farmed land seeded with crops during this process. <br /> Financial Impact <br /> The city will receive the fixed amount of$75.00 per acre for 168 acres for a total term rent of$12,600. <br /> The revenue is planned to be used for continued improvements needed for the property. <br /> Attachments <br /> ■ Agricultural Lease Agreement <br /> POWERED 6T <br /> AR <br />