COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Kelly Garry, City Attorney
SUBJECT:Title
Action: Amendment No. 3 to Ground Lease Agreement with London Bridge Plaza, Inc., to Clarify Maintenance Responsibilities (Kelly Garry)
Body
FUNDING SOURCE:
N/A
PURPOSE:
To consider Amendment No. 3 to the Ground Lease Agreement with London Bridge Plaza, Inc., to clarify maintenance responsibilities.
BACKGROUND:
Lake Havasu City entered into a Ground Lease Agreement with the London Bridge Plaza in 2008 for the Plaza’s use of City-owned property (the London Bridge Plaza parking lot) for swap meet purposes. The Agreement was amended in May of 2009 (Amendment No. 1) to revise the days and times of permitted use and in February of 2024 (Amendment No. 2) to include mobile food regulations.
This proposed Amendment No. 3 includes Exhibit A that was not attached to the original agreement and also clarifies maintenance responsibilities of the parties. The Plaza will maintain and keep the parking lot area, restrooms, and common facilities of the premises clean and in good order, condition, and repair. The City will provide street sweeping and striping of the parking lot area of the premises and other similar maintenance as deemed necessary and appropriate by the Public Works Director. The City will also maintain the asphalt for the southeast parking lot (37,633 square feet).
COMMUNITY IMPACT:
Supporting the beneficial use of City property.
FISCAL IMPACT:
In the amended Ground Lease Agreement, the City is agreeing to sweep the parking lots quarterly and paint parking spaces every two (2) years. The yearly sweeping cost is estimated to be $16,500. Painting parking spaces is estimated to be $19,000 every two (2) years.
ATTACHMENTS:
Amendment No. 3 to Ground Lease Agreement
Exhibit A
SUGGESTED MOTION:Recommended Action
I move to approve Amendment No. 3 to the Ground Lease Agreement with London Bridge Plaza, Inc.