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Item No. 7 <br />Memorandum <br />TO: Mayor <br />Mayor Pro Tem <br />City Council <br />FROM: Robert G. Vine, Assistant City Manager <br />SUBJECT: Dragon Park Lease <br />DATE: October 9, 2023 <br />BACKGROUND: The City has leased the property known as Dragon Park on S. Collegiate from <br />the Paris Jr. College (PJC) for 25 years. This lease expired on November 30, 2022. <br />STATUS OF ISSUE: City Staff and PJC representatives coordinated efforts to craft a new lease <br />agreement between PJC and the City of Paris for the term of one year. The one-year term was per <br />the request of the PJC Board. This new lease agreement will begin on October 1, 2023 and end on <br />September 30, 2024. <br />BUDGET: This lease will have no real change on the current budget as City Staff currently <br />maintain this property. <br />OPTIONS: 1. Do not approve the lease agreement. <br />2. Request the lease agreement be amended and be brought back to council for <br />consideration. <br />3. Approve the lease agreement as presented. <br />RECOMMENDATION: Staff recommends Council approves the lease agreement for Dragon <br />Park as presented. <br />