Fiscal Note
The proposed resolution converts the existing lease agreement with Goodman Community Center Inc. for a portion of City property to a no-cost arrangement. This resolution reduces the annual rental revenue amount to the General Fund from $2,665 to $0.
Title
Authorizing the execution of a First Amendment to Lease pertaining to a lease with Irwin A. and Robert D. Goodman Community Center, Inc. for a portion of the City’s East Rail Corridor located adjacent to 214 Waubesa Street.
Body
WHEREAS, the City of Madison (“City”) and Irwin A. Goodman and Robert D. Goodman Community Center, Inc. (“Goodman”) are parties to a lease, dated September 28, 2017 and recorded with the Dane County Register of Deeds on October 3, 2017 as Document No. 5361800 (the “Lease”); and
WHEREAS, the Lease was authorized pursuant to Resolution Enactment No. RES-17-00585, File No. 47677, adopted by the Common Council on July 11, 2017 (the “Resolution”); and
WHEREAS, the Lease allows for Goodman’s use of a portion of the City’s East Rail Corridor located adjacent to 214 Waubesa Street, the site of Goodman’s future Brassworks facility, for purposes of accommodating existing building encroachments; the placement, installation and use of bike racks, landscaping and hardscaping improvements; private storm sewer facilities; and open space use; and
WHEREAS, the Lease provides that annual rent payable to the City shall be $2,665.00 and shall increase by five percent (5%) every five (5) years; and
WHEREAS, Irwin A. Goodman and Robert D. Goodman Community Center, Inc is a private non-profit organization focused on serving Madison’s east side with a variety of services; and
WHEREAS, the new Brassworks facility will allow Goodman to better meet the growing needs of the Madison community with the construction of over 30,000 square feet for education, employment and enrichment programming for youth, as well as community rooms; and
WHEREAS, Given Goodman’s role as a non-profit community center that provides programs and services that make people’s lives better and the community stronger, Goodman has requested that the Lease be converted to a no-cost arrangement so that Goodman can use the funds to support its work.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Clerk are hereby authorized to enter into a First Amendment to Lease with Irwin A. and Robert D. Goodman Community Center, Inc. (the “Lessee”), pertaining to the Lessee’s use of a portion of the City’s East Rail Corridor located adjacent to 214 Waubesa Street, on the following terms and conditions:
1. Numbered Paragraph 3 of the Lease is deleted in its entirety and replaced with the following:
3. Rent. No rent is payable by the Lessee under this Lease. Within thirty (30) days of the date of final execution of this First Amendment to Lease, the City shall refund to the Lessee the amount of $2,665.00, representing the first year’s rent payment remitted by the Lessee.
2. All other terms and conditions of the Lease shall remain unchanged and in full force and effect.
BE IT FINALLY RESOLVED that the Mayor and City Clerk are authorized to execute, deliver and record such documents and to take such other actions as shall be necessary or desirable to accomplish the purposes of this resolution all in a form to be approved by the City Attorney.