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CITY COUNCIL <br />AGENDA ITEM 3A <br />STAFF ORIGINATOR: Sarah Cotton, City Administrator <br />MEETING DATE: January 25, 2021 <br />TOPIC: Assignment and Assumption of Lease — New Creations <br />VOTE REQUIRED: 3/5 <br />INTRODUCTION <br />The Council is being asked to approve an Assignment and Assumption of Lease with New <br />Creations effective January 1, 2021. <br />BACKGROUND <br />In June of 2014, the City of Lino Lakes entered into a lease agreement with New Creations <br />Child Care and Learning Center, LLC. The original term of the lease was from July 1, 2014 to <br />June 30, 2019. Prior to investing in improvements to the leased facility, the owners of New <br />Creations asked the City to consider an extension to the lease agreement in June of 2018. A <br />ten-year extension, with an option to terminate after five year was approved by the City <br />Council on June 25, 2018. <br />New Creations now has several sites across the metro area, with several entities operating the <br />various sites. In an effort to streamline its operations, New Creations is looking to combine <br />operations so that there are only two separate entities leasing/operating the sites. New <br />Creations is requesting approval of the Assignment and Assumption from New Creations Child <br />Care and Learning Center, LLC to NCCC, LLC. It should be noted that both entities have <br />identical ownership. The lease contains a provision that requires New Creations to obtain <br />written consent from the Landlord (City of Lino Lakes) prior to assigning or transferring the <br />lease. All provisions of the lease, as amended, will remain in full force and effect. <br />RECOMMENDATION <br />Approve Assignment and Assumption of Lease effective January 1, 2021. <br />ATTACHMENTS <br />Assignment and Assumption of Lease <br />New Creations Child Care and Learning Center Lease Agreement and Amendments <br />