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REQUEST FOR COUNCIL CONSIDERATION Meeting Date: November 8, 2016 Notation in Red on 4-15-20 Resolution: a resolution Amending the Lease Agreement with the St. Anthony-New Brighton School District #282 Community Services. OVERVIEW: In from of you this evening is a resolution to amend the lease agreement with the St. Anthony-New Brighton School District #282 Community Services. The lease between the City of St. Anthony Village and the St. Anthony/New Brighton School District #282 originally executed September 24, 1996, and amended January 1, 2008 ,and will expire on December 31, 2016. Due to continually increasing personnel and operating costs, it is necessary that the annual lease charge be increased. The agreement would renew January 1, 2017, effective for the 2017-2018 school year. The agreement would then subsequently renew January 1, 2026, effective for the 2027-2028 school year. The School District was offered an annual escalator of 2.25% or a step increase after 5 years. They preferred the step increase. The proposal reflects an increase in the annual rent to $127,300 for the first 5 years, and an increase to $159,730 in 2022 for the remaining 5 years. An analysis determined that the proposed rent is adequate to cover both operating and capital replacement expenditures. Year Lease Amount 2017 $127,300 2018 $127,300 2019 $127,300 2020 $127,300 2021 $127,300 2022 $159,730 $127,300 ($32,430) 2023 $159,730 $127,300 ($32,430) 2024 $159,730 $127,300 ($32,430) 2025 $159,730 $127,300 ($32,430) 2026 $159,730 $127,300 ($32,430) 2027 $127,300 ($32,430) 2028 $127,300 ($32,430) 2029 $127,300 ($32,430) $259,440 This would generate $259,440 for a contribution to the turf project ($169,440) and tiling of C2 & C3 ($90,000) The City would need to raise the General Fund Levy by $32,430 beginning in 2022.