City of Madison - File #: 25848

• File #: 25848
• Version: 1
• Name: 2273 Lease 2410 Monroe St
• Type: Resolution
• Status: Passed
• File created: 4/4/2012
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 5/15/2012
• Final action: 5/15/2012
• Enactment date: 5/18/2012
• Enactment #: RES-12-00339
• Title: Authorizing the execution of a lease with Madison Theatre Guild for the use of 2410 Monroe Street.
• Sponsors: Sue Ellingson

Date	Ver.	Action By	Action	Result
5/15/2012	1	COMMON COUNCIL	Adopt	Pass
5/7/2012	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
4/23/2012	1	PLAN COMMISSION	Return to Lead with the Recommendation for Approval	Pass
4/10/2012	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
4/10/2012	1	COMMON COUNCIL	Referred
4/4/2012	1	Economic Development Division	Referred for Introduction

Fiscal Note
The annual lease cost will be one dollar ($1.00) annually.
Title
Authorizing the execution of a lease with Madison Theatre Guild for the use of 2410 Monroe Street.
Body
The Madison Theatre Guild has leased the Old Fire Station No. 7 property located at 2410 Monroe Street since January 1, 1967. The Lease is currently on a month to month basis. The Madison Theatre Guild would like to extend the term of its lease with the City and proposes improvements to the facility including the complete restoration of the existing windows, repairing the garage door, masonry restoration, replacement of two existing doors (front and side) and restoration of the skylight. The proposed improvements have been reviewed and found acceptable to the City’s Preservation Planner.

NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with Madison Theatre Guild (“Lessee”) subject to the following terms and conditions:

1. The “Leased Premises” shall consist of the building and land located at 2410 Monroe Street., Madison Wisconsin. The Leased Premises are depicted on attached Exhibit A.

2. The term of the lease shall be ten (10) years beginning on June 1 2012 (the “Commencement Date”) and ending on May 31, 2022.

3. The Lessee is hereby granted two (2) options to extend the term of the Lease for two (2) five (5) year renewal terms.

4. The base rent (“Base Rent”) shall be one dollar annually ($1.00).

5. The Lessee shall be responsible for contracting and paying for janitorial service, snow removal, landscape maintenance, driveway maintenance, fencing maintenance, all utility costs and building maintenance. The Lessee shall keep and maintain the interior of the Leased Premises in good order and condition, including all partitions, doors, door operating devices, glass, floor coverings, fixtures, plumbing and electrical equipment and appurtenances, whether installed or owned by the Lessee or the City, and shall do such per...