Fiscal Note
The City's General Fund will receive revenue of $187.00 in 2006 and $205.70 in 2007.
Title
To Authorize the Mayor and City Clerk to sign and execute an agreement with the Lake Monona Sailing Club, Inc. to utilize a small park-owned property northwest of Olin Park for the purpose of maintaining a storage and launching facility for sailboats for 2006 through the year 2007.
Body
WHEREAS, the City has leased shoreline space to the Lake Monona Sailing Club, Inc. for twenty-nine years so that Madison area residents would have the opportunity to store their sailing craft, and
WHEREAS, the Lake Monona Sailing Club, Inc. desires to continue to lease the same park area near Olin Park for maintaining and operating a sailboat launching and storage facility; and
WHEREAS, the grant of such a lease is in the public interest as it will facilitate Madison area residents' public access to Lake Monona.
NOW THEREFORE BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a Lease, in a form approved by the Risk Manager and the City Attorney, with Lake Monona Sailing Club, Inc. (the "Lessee") to utilize park area near Olin Park, as more particularly described and depicted in the lease, for maintaining and operating a sailboat storage and launching facility, subject to the following terms and conditions:
1. The Lease shall be for a term of two (2) years, and run from April 15 through October 31 each year.
2. The Lessee shall pay to the City annual rent as follows:
Lease Year Annual Rent
1 (2006) $187.00
2 (2007) $205.70
3. The Lease may be renewed for three (3) subsequent two (2)-year terms upon agreement of the parties, in which case the rent will be increased 10% per year using the 2007 rent as the base amount.
4. The Lessee shall use the Leased Premises for the continued maintenance and operation of its existing piers and hoist system providing for the launching, retrieval and exterior storage of sailboats.
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