Title
Authorizing the renewal of a Five-Year Lease (PW/3) to Health Partners Inc. for a parking lot at the Como Avenue Clinic.
Body
WHEREAS, since 1960 the City has leased, through Lease Agreement PW/3, originally about 19,000 square feet, subsequently reduced to 16,775 square feet, of vacant land over a sewer pumping station to Health Partners Inc. for use as a parking lot at its Como Avenue Clinic; and
WHEREAS, said Lease Agreement PW/3 will expire on August 31, 2013; and
WHEREAS, it is the expressed intention of both parties to extend the lease for an additional five-year term; and
WHEREAS, the Real Estate Section of Financial Services has determined that the agreed upon rent represents the fair market value of the property; now, therefore
BE IT RESOLVED, that the proper City officials are hereby authorized and directed to execute Lease Agreement PW/3 as attached.