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Orr Uission: To work together to resposihty grow our community, and to provide quality, cost-effective, and efficient government ierwlcea. <br />CC Regular Session <br />Meeting Date: 03/08/2016 <br />Submitted For: Patrick Brama, Administrative Services <br />By: Patrick Brama, Administrative Services <br />Information <br />7. 2. <br />Title: <br />Approve Third Amendment to the Existing Lease Agreement Between the City of Ramsey and Pro Power Sports <br />Purpose/Background: <br />The purpose of this case is to consider approving the attached third amendment to the existing lease agreement <br />between the City of Ramsey and Pro Power Sports. <br />Notification: <br />NA <br />Observations/Alternatives: <br />NA <br />Funding Source: <br />No funding required. Lease negotiations are part of normal staff duties. <br />Premier Commercial Realty, the City's lease agent, negotiated this deal. Premier will receive a commission from <br />lease revenues (per the City's lease manager agreement with Premier Commercial Realty). <br />Recommendation: <br />Pro Power Sports has been a good tenant to -date (2014-2016, three years). They have paid on time and taken good <br />care of the premises. Pro Power Sports is a valued Ramsey Business and respected member of our community. The <br />City's lease broker has indicated this lease is "market rate" and "fair" (and includes 3% bumps in rent each year). <br />Staff recommends the attached lease agreement extension be approved by the City Council. <br />Action: <br />Motion to approve the attached third amendment to the existing lease agreement between the City of Ramsey and <br />Pro Power Sports; subject to final review and amendments by the City Attorney. <br />Attachments <br />REF MAP <br />