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Early termination clause included. Per the City's agreement with Premier Commercial <br />Properties, a 5% commission payment will be made to Premier for this lease aareement. <br />Other Special items of consideration include: <br />• The front portion of the building (Old Siding) has been repaired and repainted by the Tenant at the cost of <br />the Tenant. <br />• The Pylon Sign has been removed by Tenant at the cost of the Tenant. <br />• All required items have been completed that were identified in the Building Memo and the Building <br />Official has granted occupancy for the Leased Premises. <br />• The Lease will be from June 15 2023 - May 31, 2025. The lease will not be extended and no new leases will <br />be entered into on this property after May 31, 2025 . <br />Alternatives: <br />1 Adopt Resolution #23-099 Approving Lease Agreement of 6745 Hwy 10 NW (front) with Mille Lacs <br />Motor Sports II (as presented); subject to City Attorney review. <br />2 Adopt Resolution #23-099 Approvina Lease Aareement of 6745 Hwy 10 NW (front) with Mille Lacs <br />Motor Sports II (with changes); subject to City Attorney review. <br />3) Something Else. <br />Funding Source: <br />Lease Revenue, RALF. <br />Recommendation: <br />Staff recommendation is to approve Resolution #23-099 Approving Lease Agreement of 6745 Hwy 10 NW <br />(front) with Mille Lacs Motor Sports II (as presented); subject to review by the City Attorney. <br />Staff also recommends including a provision in the Resolution stating that the lease will not be extended <br />past May 31, 2025 which is included in Resolution #23-099 <br />Action: <br />Motion tn-- <br />Adopt Resolution #23-099 Approving Lease Agreement of 6745 Hwy 10 NW (front) with Mille Lacs Motor <br />Sports II (as presented); subject to review by the City Attorney. <br />Attachments <br />Site Location Map <br />ACTION - Resolution #23-099 <br />ACTION -Lease -Mille Lacs 6745 Hwy 10 (Front) <br />Lease Reference Map <br />Building Official Memorandum 4.6.21 <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 05/02/2023 01:27 PM <br />Form Started By: Sean Sullivan Started On: 04/27/2023 10:33 AM <br />Final Approval Date: 05/02/2023 <br />