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Item No. 11 <br />n <br />TO: Mayor, Mayor Pro -Tem & City Council & Council <br />Grayson Path, City Manager <br />FROM: Grayson Path, City Manager <br />SUBJECT: Lake Gibbons Pasture Lease <br />Renewal of Agreement <br />DATE: November 11, 2023 <br />BACKGROUND: The City of Paris owns land at Lake Gibbons. On October 22, 2018, the City <br />entered into a Pasture Lease Agreement with Briana Pridemore (Briana Williamson). <br />STATUS OF ISSUE: The lease was for five (5) years with one optional five (5) year renewal. <br />The initial term terminates on November 14, 2023, and Ms. McFatridge was to request the <br />extension by January 1, 2023. This did not occur until October 18, 2023. Speaking with staff, <br />we have had no issues with Ms. McFatridge leasing the land under this agreement and there is no <br />objection to renewing it another five (5) years despite her having missed the deadline. Staff will <br />set a calendar reminder for four years from now to prepare for the next term termination. <br />BUDGET: The lease is for $24,755.00 annually (see attached lease agreement). <br />RECOMMENDATION: Approve the extension of the current Pasture Lease Agreement for five <br />(5) additional years with a termination date of November 14, 2028. <br />