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At this point, in order to honor the spirit of the city's agreement with ASWP, and so that ASWP <br />can have full use of the tract, the city's best option is to terminate the lease and require <br />Suddenlink/Altice to remove any remaining equipment and structures from the site. <br />BUDGET: The rental payments on the lease escalate slightly each year based on the Consumer <br />Price Index. At this time, the rental rate is $7,826.64 per year. That is an increase of $1,826.64 <br />over the original rent of $6000.00 in 2005. As there are two more potential 5 year terms, this would <br />result in a loss of revenue of at least $78,266.00 spread out over the 10 year period. <br />RECOMMENDATION: Authorize termination of the Amended Lease Agreement with <br />Suddenlink/Altice regarding the 9.1 acre tract formerly known as the Legion Airport properties. <br />