Title
Authorizing the Department of Parks and Recreation to extend the term of the current lease agreement with Circus Juventas for an additional ten years ending October 31, 2021.
Body
WHEREAS, the City and Circus of the Star, d/b/a Circus Juventas, have entered into a Land Lease Agreement dated November 13, 1997, which provided for the lease of land to the Circus for the purpose of operating a circus training program for youth; and
WHEREAS, the parties entered into an amendment to said Lease in 2006 to add certain limited additional uses and to clarify the term of the lease; and
WHEREAS, the parties desire to further amend the Lease to allow Circus to exercise the option for the renewal term and to add a second renewal term option to the Lease; and
WHEREAS, Circus intends to undertake a capital campaign to raise money for improvements to its facilities and programming, and believes that an additional renewal term will assist it in obtaining necessary funds for that purpose; and
WHEREAS, the Circus operations are consistent with the mission of the Department of Parks and Recreation to provide recreational opportunities to citizens; now, therefore, be it
RESOLVED, that the City Council hereby authorizes the appropriate City officials to execute the attached lease amendment, approving a ten-year extension of the existing lease, to October 31, 2021, and adding an additional ten year renewal term to the Lease Agreement.