Fiscal Note
The proposed lease term is for 10 years and will automatically continue for successive terms of one year each, unless otherwise terminated in accordance with the provisions of the Lease. Annual rent payable for the first lease year will be in the amount of $5,784.05 and will be deposited into the General Fund. Rent will be subject to a five (5) percent increase every five years.
Title
Authorizing the Mayor and City Clerk to execute a lease with Gently Automotive LLC (d/b/a Apex Auto Sales and Repair), located at 3074-3076 East Washington Avenue, allowing for the use of the adjacent City-owned property located at 3098 East Washington Avenue for an expanded parking lot. (12 A.D.)
Body
WHEREAS, the City of Madison (the “City”) is the owner of the parcel located at 3098 East Washington Avenue (the “City’s Property”), which is reserved for future transportation purposes; and
WHEREAS, Gently Automotive LLC is the land contract vendee of abutting property located at 3074-3076 East Washington Avenue (the “Abutting Property”); and
WHEREAS, Gently Automotive LLC operates Apex Auto Sales and Repair at the Abutting Property and desires to lease the City’s Property for the purpose of constructing, maintaining and operating an expanded parking lot for its automobile sales inventory; and
WHEREAS, City Engineering Division staff have reviewed and approve of the lease arrangement.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with Gently Automotive LLC (the “Lessee”), subject to the following terms and conditions:
1. The Lessee’s Abutting Property and the City’s Property are legally described on attached Exhibits A and B, respectively, along with the Leased Premises that is depicted on attached Exhibits C and D. The Leased Premises is currently unimproved and consists of approximately 7,978 square feet.
2. The term of the Lease shall be ten (10) years. The Lease will automatically continue for su...
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