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STAFF REPORT <br />TO: Mayor Keis and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: May 17, 2018 <br />RE: Q3 Occupancy Agreement <br />With the pending sale of the properties at 53 & 167 South Owasso Boulevard to Q3, they have <br />requested the ability to occupy the property before the closing date to fabrication activities for a project <br />taking place in the area. This work is not directly related to their planned use of the site. <br />Staff drafted the attached agreement. The City Attorney has reviewed and approved it. Q3 is also <br />agreeable to the terms. As an industrial use, this activity would be permitted. The occupancy <br />agreement is also conditioned on no outdoor storage at the property. They will also insure the property <br />and name the EDA/City as an additional insured and be responsible for all utility costs. No revenue <br />will be generated from this early occupancy. If they don’t close on the property by June 30th, they will <br />need to vacate the site. <br />Staff recommends approval of the Q3 Occupancy Agreement as presented.