Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute an Amended Lease Agreement with Alfalfa Restaurant, LLC, for tenants' future payment of natural gas use. [Dept. of General Services, Reed]
Summary
Authorization to execute Amendment No. 1 to Lease Agreement with Alfalfa Restaurant, LCC, for annual rent increase for space within the Downtown Arts Center. (L0433-14) (Reed)
This is a request to execute Amendment No. 1 to Lease Agreement with Alfalfa Restaurant, LCC, to specify that all future payments for natural gas utility service to the restaurant shall be paid by the Tenant. Payments shall commence on July 1, 2014 and in exchange, the annual rental increases as specified in the Agreement shall be suspended for the next three fiscal years (2015, 2016, & 2017). Should the Tenant continue occupying the space beyond June 30, 2017, Tenant shall continue paying for their natural gas usage and annual rent increases shall again be applied.
Budgetary Implications: No
Advance Document Review: Yes
Fully Budgeted: NA
Account Number:
This Fiscal Year Impact: $0.00
Annual Impact: $0.00
Project:
Activity:
Budget Reference:
Current Balance: N/A
Body
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