Agenda - Council - 05/26/2026 - Laserfiche WebLink

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CC Regular Session Meeting Date: 05/26/2026 Primary Strategic Plan Initiative: Promote economic growth and development. 5. 7. Title Adopt Resolution #26-126 Approving Second Amendment to Lease; Mille Lacs Motor Sports II Inc Purpose/Background: PURPOSE: Approve the attached Second Amendment to Lease with Mille Lacs Motor Sports II, Inc. for use of city -owned RALF land for outside storage space located adjacent to land leased at 6781 Highway 10 NW. BACKGROUND: Mille Lacs Motor Sports II, Inc. primary location in Ramsey is 6781 Highway 10. Mille Lacs Motor Sports II (Powerlodge) has been leasing storage space from the city for several years. This lease is set to expire May 31, 2026. Power Lodge also leases 6701 and 6745 Hwy 10 from MW Properties LLC since 2026. The vacant land used for outside storage by Power Lodge adjacent to 6781 Hwy 10, depicted as Areas A and B, the real estate being considered in the Second Amendment to Lease. The additional 3-month extension being requested will give the City and Tenant time to evaluate purchase/improvement/vacation options for Areas A and B. A third -party has submitted an offer to the Met Council to acquire Areas A and B. If this offer is accepted by the Met Council, there is a strong possibility that the property will continue to be leased to Power Lodge. Notification: N/A Time Frame/Observations/Alternatives: The attached Second Amendment to Lease is an extension of the existing Lease with Mille Lacs Motor Sports II, Inc. for Areas A and B for 3 months. The amendments to the lease are highlighted below: 1. Paragraph 3 Term. is hereby replaced in its entirety as follows: Term. The term of this Lease is from: Lease Period: June 1, 2026 through August 31, 2026. 2. Paragraph 2 Premises. is hereby replaced in its entirety as follows: 2. Premises. Collectively, the "Premises" consists of the following two areas: A. Outdoor storage area "A" consisting of a 22,000 square foot area within a parcel legally described as Tract A, Registered Land Survey No. 249, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-21-0103). B. Outdoor storage area "B" consisting of a 15,000 square foot area within a parcel legally described as Tract A, Registered Land Survey No. 249, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-21-0103). 3. Paragraph 5 Rent. is hereby replaced in its entirety as follows: 5. Rent. Tenant covenants and agrees to pay to Landlord at the Landlord's Agent Office without demand,