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Funding Source: <br />Lease Revenue. The revenue received from the lease is applied to City administrative costs, property maintenance and to <br />reimburse the Right -of -Away Acquisition Loan Fund (RALF). <br />Recommendation: <br />Adopt Resolution #26-194 Approving Third Amendment to Lease; Mille Lacs Motor Sports 11 Inc (as presented); subject to <br />City Attorney Review <br />OutcomeAction: <br />Motion to Adopt Resolution #26-194 Approving Third Amendment to Lease; Mille Lacs Motor Sports II Inc (as presented); <br />subject to City Attorney Review <br />Attachments <br />Site Location - Lease Reference Map <br />ACTION - Resolution #26-249 <br />ACTION - Termination of Lease Agreement <br />Reference - Original Lease <br />Reference - 1st Amendment to Lease <br />REFERENCE - Second Amendment to Lease <br />REFERENCE - Third Amendment to Lease <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 10/21/2026 05:11 PM <br />Form Started By: Sean Sullivan Started On: 10/19/2026 03:06 PM <br />Final Approval Date: 10/21/2026 <br />