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a <br /> CM OF REQUEST FOR COUNCIL CONSIDERATION Agenda Section 4 <br /> STAFF REPORT Report Number:96-1914WS <br /> 111 DS Report Date: 11/26/96 <br /> 4) WORK SESSION MEETING DATE�W December 2, 1996 <br /> °*"'":-Partnees <br /> Item Description: Discussion of Draft Lease for Children's Home Society and Update on VB Digs <br /> Administrator's Review/Recommendation: <br /> -No Comments to supplement this report <br /> -Comments attached. <br /> Explanation/Summary(attach supplement sheets as necessary) <br /> Summary: <br /> Children's Home Society (CHS): <br /> Chuck, Mary and I had a meeting with the CHS regarding a temporary lease arrangement for space within the Bel-Rae. <br /> Bob Long drafted a lease agreement addressing both full lease space and shared space. CHS will be providing us with <br /> a draft lease prior to the work session. Unfortunately,with the short week I am unable to provide you with a copy to <br /> review prior to the meeting. The draft lease will not contain a lease rate since we have not determined the costs for <br /> temporary renovation. We are meeting with the Fire Department,Building Department,Health Department and <br /> Insurance Carrier regarding what we would be required to retrofit in the interim. <br /> • <br /> VB Digs: <br /> VB Digs provided Springstead with financial proforma regarding the development of a volleyball center. Attached is <br /> a letter from Springstead summarizing their findings and suggesting the next steps in the negotiation process. (See <br /> Attached) As noted by Springstead,the Council should discuss what direction they would prefer to take in the <br /> negotiations with VB Digs and their bank. Items to consider include the following: <br /> • Is the City willing to look at the Volleyball Center as an attached or detached structure? <br /> ■ Does the City want to pursue the development of a public multi-purpose gym space? <br /> • Does the City want to make arrangements with VB Digs for operational management of the old and <br /> new space? <br /> ■ If VB Digs defaults on their mortgage,what would the City accept as a use for the building if it is <br /> attached or detached? Would the City want first right of refusal to purchase the space? <br /> Chuck and I would like to arrange a meeting with VB Digs and their banker regarding some of these issues and <br /> develop a plan and timeline on how to proceed as soon asii,,, ,,y,„±i.--- <br /> possible. <br /> Cathy Bennett,Direc r of Economic Development <br /> 41116 <br />