Laserfiche WebLink
515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 4538 <br />January 2, 1997 <br />TO: Mayor Fahey and Members of the City Council <br />FROM: Joel R. Hanson, City Administrator <br />RE: Budget Power Lease Agreement <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morel= <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />We closed on the Budget Power transaction on December 27th. <br />Budget Power will be occupying new space in the Market Place <br />Shopping Center. However, this area will not be ready until <br />April 1st. Therefore, as part of our transaction, we are <br />allowing Budget Power to continue occupying their current <br />building until such time as the new space is available. <br />Rent payments are the estimated pro -rata share of property taxes <br />for 1997. Three months of prepaid rent have been received. <br />Budget Power is responsible for all maintenance, utility, and <br />insurance costs for the property while they occupy it. The <br />outside date for termination of this lease is May 31, 1997. <br />I would recommend approval of the lease as presented. <br />Page 22 <br />