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CITY COUNCIL <br />AGENDA ITEM 3A <br /> <br /> <br />STAFF ORIGINATOR: Jeff Karlson, City Administrator <br /> <br />MEETING DATE: June 25, 2018 <br /> <br />TOPIC: Lease Extension for New Creations <br /> <br />VOTE REQUIRED: 3/5 <br /> <br /> <br />INTRODUCTION <br /> <br />The Council is requested to approve a lease extension for New Creations Child Care & <br />Learning Center. <br /> <br />BACKGROUND <br /> <br />Kevin Peck of KW Commercial negotiated the lease extension with New Creations. Mr. Peck <br />recommended increasing the rent by three percent every year of the lease. He proposed starting <br />the new lease with $9.91 per square foot starting July 1, 2019, and adding three percent <br />annually. Peck also added the option of terminating the lease after five years after a 12-month <br />notice. <br /> <br />RECOMMENDATION <br /> <br />Approve lease extension for New Creations Child Care. <br /> <br />ATTACHMENTS <br /> <br />Lease Amendment No. 3