Laserfiche WebLink
<br /> <br /> <br /> CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br /> <br /> Submittal Date: Originating Department: Presented By: Agenda Item No.: <br /> 5-3-11 <br /> Council Date: Finance Gene Anderson 17. <br /> 5-9-11 <br /> RECOMMENDED MOTION: <br /> Motion to approve a resolution authorizing a new sublease agreement between the Red River Valley Fair <br /> Association (RRVFA) and the Paris Rodeo & Horse Club (PRHC). <br /> POLICY ISSUE(S): <br /> Administration <br /> The Red River Valley Fair Association has historically subleased a portion of the fairgrounds to the <br /> Paris Rodeo and Horse Club. The previous lease expired May 1, 2011 and the five year extension option <br /> was not exercised. Instead the RRVFA is requesting approval of a ten year lease followed by five year <br /> extension option. The reason for this request is that when the PRHC borrows money for capital <br /> improvements at this location, the lending institution will require a lease at least as long as the note term. <br /> Other than the term, this lease agreement is identical to previous leases. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> BOARD/COMMISSION RECOMMENDATION: <br /> None <br /> <br /> EXHIBITS: <br /> Resolution and Agreement <br /> ACTION: BUDGET INFO: <br /> ❑ Financial Report ❑ Minute Order Expense $NA <br /> ❑ Department Report ® Resolution Budgeted Amt. $NA <br /> ❑ Presentation ❑ Ordinance YTD Actual $NA <br /> ❑ Public Hearing ❑ Other Acct. Name NA <br /> <br /> Acct. Number NA <br /> FISCAL NOTES: <br /> None <br /> REVIEWED AND APPROVED BY: <br /> <br /> ® Administration ® City Clerk ❑ Community Development ❑ EMS/IT ❑ Finance ❑ Fire <br /> ❑ Municipal Court ® Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> City of Paris Revised 2/04/08 <br /> _ 86 <br />