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MOUND31S Vvivw <br />City of Mounds View Staff Report <br />Item No: 5C <br />Meeting Date: June 12, 2023 <br />Type of Business: Council Consent <br />City Administrator Review: <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 9755, Approving a Lease Extension with Creative <br />Kids Academy Operating at the Mounds View Community <br />Center <br />Introduction: <br />Creative Kids Academy leases space at the Mounds View Community Center. In 2018, <br />their lease was extended five years through July 31, 2023. The owner of the facility has <br />agreed to a five-year extension under terms that include rent of $142,800 per year or <br />$11,900 per month and payment of any property taxes associated with the child care <br />space. If approved, the new lease would go into effect on August 1, 2023 and run <br />through July 31, 2028. <br />Discussion: <br />The attached extension agreement was originally drafted by Kennedy & Graven. The <br />only changes are to the dates, rent and property tax consideration as well as the <br />inclusion of the tenant's requirement to cover 50% of the costs of the dishwasher. <br />Recommendation: <br />Staff recommends approval of the attached Resolution 9755, a resolution authorizing an <br />extension of the lease between the City of Mounds View and Creative Kids Academy, a <br />business providing childcare services at the Mounds View Community Center. <br />Respectfully submitted, <br />Mark Beer <br />Finance Director <br />