13- LEASE AGREEMENT WITH RED RIVER VALLEY VETERANS' MEMORIAL, INC.

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CITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originating Department: Presented By: Agenda Item No.: 02/15/11 Council Date: City Attorney W. Kent McIlyar 13. 02/28/11 RECOMMENDED MOTION: Move to approve a Resolution approving a Lease Agreement between the City of Paris and Red River Valley Veterans' Memorial Inc for a.9022 acre tract of land; and authorizing the Mayor to negotiate and execute all necessary documents. POLICY ISSUE(S): Lease Agreement BACKGROUND: The Red River Valley Veteran's Memorial non-profit corporation seeks City Council approval of a ninety-nine (99) year ground lease from the City of Paris to RRVVM, Inc. for the development of the Red River Valley Memorial project on a.9022 acre parcel of land adjacent to the Paris Eifel Tower. The RRVVM group will develop a Memorial on the leased property to honor the military veterans from the City of Paris, Lamar County and the Red River Valley. The Memorial will be constructed in three stages with the first stage to begin following approval of the Lease Agreement. The RRVVM Corporation has committed to funding a$20,000 perpetual care fund at a bank in Paris, Texas to provide funding for future maintenance, upkeep and repair of the Memorial. The perpetual care fund will also cover utility bills and insurance for the Memorial. A copy of the site plan and artist rendering for the Memorial Project, as prepared by Denney Architects, is attached for your review. BOARD/COMMISSION RECOMMENDATION: EXHIBITS: Resolution and Lease Agreement ACTION: BUDGET INFO: ❑ Financial Report ❑ Minute Order Expense ❑ Department Report Z Resolution Budgeted Amt. ❑ Presentation ❑ Ordinance y'j'D Actual ❑ Public Hearing ❑ Other Acct. Name Acct. Number FISCAL NOTES: REVIEWED AND APPROVED BY: * Administration Z City Clerk ❑ Community Development ❑ EMS/IT ❑ Finance ❑ Fite ❑ Municipal Court Z Legal ❑ Libtary ❑ Police ❑ Eng./Public Works ❑ Utilities City of Paris - - 114 Revised 2/04/08