COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Bill Young, Deputy Director of Public Works
SUBJECT:TItle
Action: Resolution No. 26-3930 Approving Addendum No. 5 to the Lease Agreement with the Arizona Department of Transportation for a Portion of the Lake Havasu City Materials Storage Yard Located at 2400 Sweetwater Avenue (Bill Young)
Body
FUNDING SOURCE:
N/A
PURPOSE:
To consider adopting a resolution and authorizing the City Manager’s execution of Addendum No. 5 to a Lease Agreement for a portion of the Lake Havasu City Sweetwater Materials Storage Yard with the Arizona Department of Transportation (ADOT) to extend the term for five years ending June 30, 2031.
BACKGROUND:
In May 2004, the City entered into a Lease Agreement with ADOT allowing ADOT to use a portion of the Lake Havasu City Sweetwater Materials Storage Yard located at 2400 Sweetwater Avenue. The use of this location helps ADOT maintain the traffic signals on SR-95 more effectively and efficiently. This action will extend the existing agreement for five (5) years.
COMMUNITY IMPACT:
ADOT will continue to operate from a portion of the Sweetwater Materials Storage Yard and provide timely responses to traffic signal issues on SR-95 for the community.
FISCAL IMPACT:
The City will continue to receive $500.00 per month from ADOT.
ATTACHMENTS:
Resolution No. 26-3930
Lease Addendum No. 5
POSSIBLE MOTION:Recommended Action
I move to adopt Resolution No. 26-3930 approving and authorizing the City Manager’s execution of Lease Addendum No. 5 to the Lease Agreement with Arizona Department of Transportation.
I move to not adopt Resolution No. 26-3930 approving Lease Addendum No. 5 to the Lease Agreement with Arizona Department of Transportation.