CITY of RAPID CITY Agenda Item Summary
Meeting Date: 12/31/2013		PW Committee: 12/31/2013
Staff Contact: Wade Nyberg/Terry Wolterstorff		City Council: 1/6/2014
Agenda Title:
Authorize Mayor and Finance Officer to Sign First Amendment to Lease Agreement Between Hills Materials Company and the City of Rapid City (225 E. Main Street N.)
Summary:
The Lease for this property, which is adjacent to the Streets Division shop, was entered at the time of purchase of the property from Hills Materials Company.   Hills Materials Company currently operates their concrete batch plant at this location. They will be moving their operations to a new location.  The Lease is set to expire March 15, 2014, but Hills Materials anticipates that it will not be ready to move by that date.  Hills Materials is asking for an extension until June 15, 2014. Approval of this First Amendment will change only the termination date; all other Lease provisions remain the same.
Funding Source & Fiscal Impact (if applicable):
The Lease was included in the terms of the purchase agreement.  The Lease does not generate revenue.
Recommendation:
Action: Choose an item. Approve Notes: Click here to enter text.
Options:
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Attachments & Links:
First Amendment to Lease	Click here to enter text.		Click here to enter text.
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