COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Kelly Garry, City Attorney
SUBJECT:Title
Action: Ground Lease Agreement for the Parking of Display Vehicles and Landscaping Adjacent to 921 N. Lake Havasu Avenue to Messmer Properties, LLC (Kelly Garry)
Body
FUNDING SOURCE:
N/A
PURPOSE:
To consider approving a Ground Lease Agreement with Messmer Properties, LLC.
BACKGROUND:
Lake Havasu City owns real property described as Parcel A, a planter strip, approximately 13,068 square feet, adjacent to 921 N. Lake Havasu Avenue.
The Boat Brokers, Inc., desires to lease this parcel from the City for display of vehicles and landscaping purposes.
The proposed Ground Lease Agreement commences on January 14, 2025, for a term of ten (10) years. Either party may terminate the Agreement upon 180 days’ notice. The Boat Brokers will pay monthly rent to the City in the amount of $544.50. The rent amount will be adjusted annually based on the increase in the Consumer Price Index.
COMMUNITY IMPACT:
Supporting the beneficial use of City property.
FISCAL IMPACT:
City will receive rent in the amount of $544.50 per month, which will adjust annually based on the increase in the Consumer Price Index.
ATTACHMENTS:
Ground Lease Agreement
SUGGESTED MOTION:Recommended Action
I move to approve the Ground Lease Agreement with Messmer Properties, LLC.