Fiscal Note
The proposed resolution authorizes the execution of a three-year lease agreement with one subsequent three-year renewal term between the City of Madison and NewBridge Madison, Inc. to allow for use of a portion of the Warner Park Community Recreation Center for not-for-profit community services and related administrative use. Projected annual revenue under the lease is $37,202 and subject to 3% annual increases. The total projected lease revenue if the lease and extension are executed is $240,635. The lease began in Sept 7, 2025 and is scheduled to end September 6, 2031 if the three-year extension is exercised. Lease revenue is allocated in the Parks Division's 2026 Adopted Operating Budget. Lease revenue for future years will be requested in future budget development processes. No City appropriation is required.
Title
Authorizing the City’s execution of a three-year lease agreement, with one subsequent three-year renewal term, between the City of Madison and 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. (District 12)
Body
WHEREAS, the City of Madison (“City”) currently leases to NewBridge Madison, Inc. (“Lessee”), pursuant to the terms of a lease dated July 22, 2020, which lease is currently in hold over status since its final renewal term expired September 6, 2025, for a portion of Warner Park Community Recreation Center (“Leased Premises”), allowing for not-for-profit community services and related administrative use by the Lessee; and
WHEREAS, the Lessee desires to continue to occupy and use the Leased Premises under the terms of a new lease (“Lease”), attached to this resolution as Attachment - Lease, negotiated with the Lessee by City Parks and Office of Real Estate Services staff.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute the Lease with the Lessee, substantially, though not exclusively, on the terms and conditions detailed in the attached Lease.
BE IT FURTHER RESOLVED that the City’s Common Council hereby authorizes the Mayor and City Clerk to execute, deliver and record the Lease and take any further action required to accomplish the purpose of this resolution in a form approved by the City Attorney.