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<br /> <br />REQUEST FOR COUNCIL CONSIDERATION <br /> <br /> <br />Meeting Date: November 8, 2016 <br /> <br /> Resolution: a resolution Amending the Lease Agreement with the St. Anthony-New Brighton School <br />District #282 Community Services. <br /> <br /> <br />OVERVIEW: <br />In from of you this evening is a resolution to amend the lease agreement with the St. Anthony-New <br />Brighton School District #282 Community Services. <br /> <br />The lease between the City of St. Anthony Village and the St. Anthony/New Brighton School District #282 <br />originally executed September 24, 1996, and amended January 1, 2008 ,and will expire on December 31, <br />2016. <br /> <br />Due to continually increasing personnel and operating costs, it is necessary that the annual lease charge be <br />increased. The agreement would renew January 1, 2017, effective for the 2017-2018 school year. The <br />agreement would then subsequently renew January 1, 2026, effective for the 2027-2028 school year. <br /> <br />The School District was offered an annual escalator of 2.25% or a step increase after 5 years. They <br />preferred the step increase. The proposal reflects an increase in the annual rent to $127,300 for the first 5 <br />years, and an increase to $159,730 in 2022 for the remaining 5 years. An analysis determined that the <br />proposed rent is adequate to cover both operating and capital replacement expenditures. <br /> <br />Year Lease Amount <br />2017 $127,300 <br />2018 $127,300 <br />2019 $127,300 <br />2020 $127,300 <br />2021 $127,300 <br />2022 $159,730 <br />2023 $159,730 <br />2024 $159,730 <br />2025 $159,730 <br />2026 $159,730 <br /> <br />15