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City will be in position to develop consistent and fair leases and provide Staff formal support and a baseline in <br />which leases are negotiated. <br />ALTERNATIVES: <br />*Discuss and amend the attached draft policy; and direct Staff to revise and bring back to a regular City Council meeting for adoption <br />*Do not develop a formal policy for leasing City owned land. <br />*Direct Staff to pursue an alternative direction. <br />Recommendation: <br />Discuss and amend the attached draft policy; and direct Staff to revise and bring back to a regular City Council <br />meeting for adoption. <br />NOTE: Staff would like specific direction regarding base rent. How far below market rate is the Council <br />comfortable with setting a floor (minimum price). The proposed policy calls for a minimum 80% of market rate <br />price. <br />Funding Source: <br />NA <br />Council Action: <br />Discuss and amend the attached draft policy; and direct Staff to revise and bring back to a regular City Council <br />meeting for adoption. <br />NOTE: Staff would like specific direction regarding base rent. How far below market rate is the Council <br />comfortable with setting a floor (minimum price). The proposed policy calls for a minimum 80% of market rate <br />price. <br />Attachments <br />Draft Lease Policy <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Jo Thieling 02/21/2013 10:00 AM <br />Form Started By: Jo Thieling Started On: 02/21/2013 09:16 AM <br />Final Approval Date: 02/21/2013 <br />