City Council Meeting Date: June 5, 2018
To: Mayor and City Council
From: Ben Martig, City Administrator
Title
Consider Resolution Approving Rent Schedule and Corrections to Amended and Restated Fire Station Lease Agreement
Body
Action Requested:
Northfield City Council approves the attached Resolution Approving Rent Schedule and Corrections to Amended and Restated Fire Station Lease Agreement.
Summary Report:
The Northfield City Council approved Resolution 2018-050 - Authorizing amended and Restated Fire Station Lease Agreement on May 1, 2018. The Rent Schedule shown in Exhibit B to the approved Amended and Restated Fire Station Lease Agreement was preliminary and was based on estimates, pending the issuance of General Obligation bonds by the City for the fire station improvement project, and the Rent Schedule was to be finalized and returned to the NAFRS Board and City Council for review and approval after the bonds had been issued This has been completed and the revised agreement is attached for consideration. The NAFRS Board approved the agreement at their regular meeting in May.
Alternative Options:
None recommended.
Financial Impacts:
See bonding information and related lease schedule.
Tentative Timelines:
See attached.