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memorandumItem No. 7 TO: Mayor, Mayor Pro Tem, and City Council FROM: Rose Beverly, City Manager Stephanie H. Harris, City Attorney SUBJECT: Amendment to Lease Agreement with the Red River Valley Veterans Memorial, Inc. DATE: July 14, 2025 BACKGROUND: The city entered into a long term ground lease (Lease) with the Red River Valley Veterans Memorial, Inc. (RRVVM) on February 28, 2011 for a .9022 acre tract of land adjacent to the Love Civic Center and Eiffel Tower monument for the purpose of developing the Red River Valley Veterans Memorial (Memorial). Thereafter, on September 22, 2014, the city and RRVVM amended the Lease to add additional acreage east of the original premises to enable expansion of the Memorial. The Lease term began on March 1, 2011 and extends to February 28, 2110, a 99 year term, and provides for ten year renewal terms thereafter. As consideration for the Lease, RRVVM is responsible for upkeep of the property and all costs of development thereof, and it provides a well-maintained and well -visited Memorial for the city's citizens and and visitors. STATUS OF ISSUE: RRVVM has approached the city requesting another expansion of the leased premises to include an additional .8 tract adjacent to and north of the Memorial and adjacent to and east of (behind) the Eiffel Tower for the purposes of constructing an office building to house its corporate offices and provide meeting space for programs benefitting veterans. The attached document, the Second Amendment of Lease Agreement, provides for expanding the leased premises and contains a survey of what will, upon approval and execution of the amendment, be a 2.081 acre tract. BUDGET: None. RECOMMENDATION: Staff recommends approving the Second Amendment of Lease Agreement between the City of Paris, Texas and Red River Valley Veterans Memorial, Inc.