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Memorandum <br />TO: Mayor, Mayor Pro -Tem & City Council <br />FROM: Rose Beverly, City Manager <br />SUBJECT: Grand Theater Lease Update <br />DATE: December 8, 2025 <br />BACKGROUND: The City entered into a Management Lease Agreement with the Paris Grand <br />Theater Lease Project on August 31, 2018. The agreement is complex, and earlier this year Mr. <br />Joseph Portugal contacted City Management to request revisions to clarify several provisions <br />that he and his project members found challenging or impractical. <br />City staff including myself, City Attorney Stephanie Harris, and then City Engineer Todd Mittge <br />met in person with representatives of the Paris Grand Theater Project. Since that time, we have <br />continued working with Mr. Portugal via email to resolve the key issues and refine the agreement <br />language. <br />STATUS OF ISSUE: All parties are comfortable with the amended agreement and are ready for <br />it to be ratified by Council. <br />RECOMMENDATION: Staff recommend approving the Superseding and Amending Lease <br />Agreement update. <br />