Fiscal Note
Annual rent payable for the first lease year shall be in the amount of $585.00 and shall be deposited into the General Fund (Acct. No. GN01-78220). Rent shall be subject to a 3% annual increase beginning on the first anniversary date of the lease.
Title
Authorizing the Mayor and City Clerk to execute a Lease with James G. Montgomery for a portion of the City’s East Rail Corridor located adjacent to 2312-2314 Atwood Avenue.
Body
WHEREAS, James G. Montgomery is the new owner of property located at 2312-2314 Atwood Avenue (the “Abutting Property”); and
WHEREAS, a portion of the existing parking lot located on the Abutting Property encroaches into the City’s East Rail Corridor; and
WHEREAS, James G. Montgomery desires to enter into a lease with the City for the area of such encroachment; and
WHEREAS, the terms of a Lease have been negotiated between the Office of Real Estate Services and James G. Montgomery.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a Lease with James G. Montgomery (“Lessee”) on the following terms and conditions:
1. The City shall lease to the Lessee a portion of the East Rail Corridor identified on attached Exhibit A as the “Leased Premises”, which area is contiguous to the Lessee’s Property located at 2312-2314 Atwood Avenue (the “Abutting Property”).
2. The Leased Premises consists of approximately 650 sq. ft. and shall be used by the Lessee for the maintenance and operation of a parking lot (“Parking Lot”), which use shall be ancillary to the Abutting Property.
3. No encroachments, other than the parking lot improvements shown on Exhibit A, nor construction, other than construction related to the use of the Leased Premises for parking, shall be permitted without the prior written consent of the City, which consent the City may withhold in its sole discretion.
4. The Leased Premises shall be used exclusively by the Lessee and the employees, tenants and invitees of the Abutting...
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