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5. 15. <br />CC Regular Session <br />Meeting Date: 01/27/2026 <br />Primary Strategic Plan Initiative: Promote economic growth and development. <br />Title <br />Adopt Resolution #26-037 Approving Lease Amendment with Mille Lacs Motor Sports 11 for 6781 and 6745 <br />Hwyl0 NW <br />Purpose/Background: <br />PURPOSE: <br />Approve the attached First Amendment to Lease with Mille Lacs Motor Sports II for temporary use of city -owned <br />land for outside storage space located adjacent to 6781 Highway 10. <br />BACKGROUND: <br />Mille Lacs Motor Sports II's primary location in Ramsey is 6781 Highway 10. Mille Lacs Motor Sports II <br />(Powerlodge) has been leasing storage space from the city for several years. This lease is set to expire <br />January 31, 2026. Power Lodge also leases 6701 and 6745 Hwy 10 but these properties are in the <br />process of being purchased by MW Properties LLC in 2026. MW Properties has negotiated a lease <br />with Power Lodge to continue leasing those properties. The vacant land used for outside storage by <br />Power Lodge adjacent to 6781 Hwy 10, depicted as Areas A and B, the real estate being considered in <br />the First Amendment to Lease. The additional 4-month extension being requested will give the City and <br />Tenant time to evaluate purchase/improvement/vacation options for Areas A and B. <br />Notification: <br />N/A <br />Time Frame/Observations/Alternatives: <br />The attached First Lease agreement is an extension of the existing Lease with Mille Lacs Mototr Sports 11 for <br />Areas A and B for 4 months. The remaining areas C,D, E and F are being removed from the lease due to pending <br />property sale. to MW Properties LLC. The amendments to the lease are highlighted below: <br />1. Paragraph 3 Term. is hereby replaced in its entirety as follows: <br />1. The term of this Lease is from: <br />Lease Period: June 1, 2025 through January 31, 2026. Landlord shall have the right to extend the Lease on a <br />month -to -month basis for a period of up to four (4) months ("Renewal Period"), on the same terms and <br />conditions as set forth in the lease. The Lease shall automatically renew for the Renewal Period. Landlord shall <br />have the right to terminate the Lease with fifteen (15) days written notice to Tenant at any time during the <br />Renewal Period. <br />2. Paragraph 2 Premises. is hereby replaced in its entirety as follows: <br />2. Premises. Collectively, the "Premises" consists of the following two areas: <br />