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ITEM ~~ 5 <br />Gry of <br />Ells .~ , <br />River <br />MEMORANDUM <br />T ®usin ee~ve~®p~n uh~~i~ <br />F a~he~~~e ehe~ich, irQCr c~n~mic eves®en~ <br />T o ®~en~e~ Z, 2 <br />~ CTo ~scuss uil~ngs a 716 720 ain ~ree~ <br />Staff will update the HRA on the condition of the buildings and interest f~:o~n Axts Alliance <br />in extending the lease beyond the Dece~nbef 31, 2009 expiation. <br />Roof Rebai Coin~lete <br />In April 2009 the HRA authorized staff to contract fog a goof patch and ~epah: of the HRA <br />building at 720 Main Stfeet, currently occupied by the Arts Alliance. <br />The goof ~epai was completed by B&B Sheet Metal & Roofing, Inc. along with some minor <br />repairs completed by the City's Maintenance Department. The total cost was under: X3,000 <br />and completed as of the end of August. <br />HV~C System <br />In early Qctober the two HVAC units at 720 Main requied repai and replacefnent of the <br />motors at a cost of ~2~ 65. Maintenance staff has advised that the HVAC units will requite <br />replacement next year if the building is continued to be occupied. Replacefnent of the two <br />units is estvnated at $7000. <br />Arts Alliance Lease <br />The two year lease agreement wit11 the Arts Alliance exp.ies December 31, 2009. The Arts <br />Alliance has indicated a strong interest in extending the lease. The relationship betwee~.a. the <br />HRA and Arts Alliance has been positive. Arts Alliance has done an excellent job in <br />maii~taitling the building's appearance, in addition the progra~n~ni~.~g and se~~vices have been a <br />positive addition to the vitality of downtown, Staff requests the HRA's authorization to <br />proceed in negotiating a lease extension for up to two yews, with a condition that Arts <br />Alliance pays all building repais, insurance and utilities. <br />