HomeMy WebLinkAbout#08 - Rental Lease Agreement AmendmentsSTAFF REPORT
DATE: December 4, 2018
CONSENT #8
AGENDA ITEM: Rental Lease Agreement Amendments
SUBMITTED BY: Kristina Handt, City Administrator
BACKGROUND:
When the City purchased the Brookfield building in April, it assumed the leases of current tenants.
Although the EDA took over the ownership the building the leases stayed with the City. The last
time rent amounts were adjusted was January 1, 2017.
ISSUE BEFORE COUNCIL:
Should the City Council approve the rental agreement amendments?
PROPOSAL:
Staff has proposed a 3% increase for leases that either expire 12/31/18 (Barr Engineering) or those
that allow for a 60-90 notice period (Focus Engineering, Keystone Automation). Included in your
packet is a copy of the signed agreements.
FISCAL IMPACT:
Annual increase in revenue of $516
OPTIONS:
1) Approve the rental agreement amendments
2) Amend and then approve the rental agreement amendments
3) Do not approve amendments to the rental agreements
RECOMMENDATION:
If removed from the consent agenda:
“Motion to approve the rental agreement amendments.”
ATTACHMENTS:
• Rental Agreement Amendments