City of Madison - File #: 31527

• File #: 31527
• Version: 1
• Name: 10260 Lease Vera Court Neighborhood Center 1910 Lake Point
• Type: Resolution
• Status: Passed
• File created: 9/5/2013
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 10/1/2013
• Final action: 10/1/2013
• Enactment date: 10/3/2013
• Enactment #: RES-13-00757
• Title: Authorizing the execution of a lease between the City of Madison and Vera Court Neighborhood Center for the operation of a Neighborhood Center at 1910 Lake Point Drive.
• Sponsors: John Strasser
• Related files: 82274

Date	Ver.	Action By	Action	Result
10/1/2013	1	COMMON COUNCIL	Adopt	Pass
9/23/2013	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
9/17/2013	1	COMMON COUNCIL	Referred
9/5/2013	1	Economic Development Division	Referred for Introduction

Fiscal Note
This lease requires the Vera Court Neighborhood Center to pay a monthly rent of $ 1,000.00 plus utilities. Funds collected in 2013 will be deposited in the General Fund/Rentals and Property Leases. The Lessee is required to bear utility and maintenance expenses. The City shall maintain the major structural elements of the building. No significant structural maintenance expense is anticipated in 2013, so no expense has been budgeted.
Title
Authorizing the execution of a lease between the City of Madison and Vera Court Neighborhood Center for the operation of a Neighborhood Center at 1910 Lake Point Drive.
Body
WHEREAS, the draft Lake Point Redevelopment District plan recognizes the Hoboken Road and Lake Point Drive intersection as the “Gateway” to the Lake Point neighborhood;

WHEREAS, to promote the future development of the Gateway to the Lake Point Neighborhood , the City of Madison on December 12, 2012 acquired from Madison Mutual Housing Association (MMHA) a former 4-unit apartment building located at 1910 Lake Point Drive;

WHEREAS the acquisition of 1910 Lake Point Drive from MMHA included the assignment of a lease with the Vera Court Neighborhood Center;

WHEREAS it is desirable to maintain the Neighborhood Center at 1910 Lake Point Drive until a comprehensive development plan is brought forward;

WHEREAS the Vera Court Neighborhood Center requests an extension to its current lease with the City of Madison;

NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) between the City of Madison (the “City”) and Vera Court Neighborhood Center Inc. DBA Lake Point Neighborhood Center (the “Lessee”) of the City owned property located at 1910 Lake Point Drive (“leased Premises, subject to the following terms and conditions:

1. Term. The term of the Lease (the “Lease Term”) shall be two (2) years commencing on October 1, 2013 and ending on September 30, 2015.

2. Renewal. If mutually acceptab...