Fiscal Note
The proposed resolution authorizes a three-year lease, starting September 7, 2019 and ending September 6, 2022, between the City and NewBridge Madison, Inc. for the use of a portion of the Warner Park Community Recreation Center. Annual rent payable for the first year of the lease, being a period from September 7, 2019 to September 6, 2020, shall be $32,081.05 and shall be deposited as Parks agency revenue. Annual rent for the period from September 7, 2020 to September 6, 2021 shall be $32,722.67. Annual rent for the period from September 7, 2021 to September 6, 2022 shall be $33,377.13. For any renewal terms thereafter, annual rent shall increase by 3% per year.
Title
Authorizing the Mayor and City Clerk to execute a lease with NewBridge Madison, Inc. allowing for the use of a portion of the Warner Park Community Recreation Center for not-for-profit community services and related administrative use. (12th AD)
Body
WHEREAS, the City of Madison (the “City”) is the owner of the building commonly known as the Warner Park Community Recreation Center (the “Center”), addressed as 1625 Northport Drive, which is located within Warner Park, located at 1425 Troy Drive in the City of Madison, Dane County, Wisconsin; and
WHEREAS, beginning September 7, 1999, the City leased a portion of the Center to the North/Eastside Senior Coalition, Inc. under a lease recorded as Document No. 3180012 on December 21, 1999 in the Dane County Register of Deeds (the “Prior Lease”); and
WHEREAS, the Prior Lease was assigned to NewBridge Madison, Inc., a Wisconsin non-stock corporation (the “Lessee”), by an unrecorded Assignment and Assumption of Lease dated January 17, 2019; and
WHEREAS, the final renewal term of the Prior Lease expired on September 6, 2019, and the Prior Lease is currently in month-to-month hold over status; and
WHEREAS, the Lessee desires to continue to use of a portion of the Center; and
WHEREAS, the terms of a new lease have been negotiated between ...
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