Fiscal Note
No expenditure required. To offset the interruption to the use of the leased premises by Kayser Ford, Inc., the lease term will be extended by a period equal to the term of the City’s construction period.
Title
Authorizing the Mayor and City Clerk to execute an amendment to the lease with Kayser Ford, Inc. allowing for the City’s temporary use of premises leased by Kayser Ford, Inc. within the Cannonball Bike Path corridor, formerly a part of the Union Pacific Railroad corridor.
Body
WHEREAS, the City of Madison (as successor-in-interest to the Union Pacific Railroad Company), as the lessor, and Kayser Ford, Inc., as the lessee, are parties to a lease dated November 1, 2000 pertaining to Kayser Ford, Inc.’s use of approximately 10,000 square feet of land (the “Premises”) located within the former Union Pacific Railroad corridor, n/k/a the Cannonball Bike Path corridor; and
WHEREAS, the Premises are depicted on attached Exhibit A and are used by Kayser Ford, Inc. for the storage and parking of vehicles in connection with its business operations at 2303 West Beltline Highway; and
WHEREAS, during 2012 and 2013, the City will be constructing certain public water main and public bike path improvements within the Cannonball Bike Path corridor and will require the use of all or portions of the Premises during the construction period; and
WHEREAS, the City and Kayser Ford, Inc. have agreed to extend the term of the Lease to offset the period of time when the Premises may not be available for use due to the City’s construction activities; and
WHEREAS, the terms of an amendment to the Lease have been negotiated between the Office of Real Estate Services and Kayser Ford, Inc.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute an amendment to that certain lease dated November 1, 2000, between the City of Madison, as the “Lessor,” and Kayser Ford, Inc., as the “Lessee,” pertaining to “Premises” located within the Cannonb...
Click here for full text