CITY of RAPID CITY

Agenda Item Summary

 

Public Works Committee Meeting Date: 6/25/2013

City Council Meeting Date: 7/1/2013

Staff Contact: Wade Nyberg/Terry Wolterstorff

 

Agenda Title:

Authorize Mayor and Finance Officer to Sign Resolution 2013-065 a Resolution of Intent to Enter into Lease of Real Property with Hills Materials Company Pursuant to SDCL 9-12-5.2. (Property Location 225 E Main Street N)

Summary:

The resolution sets this matter for hearing at the July 15, 2013 Council meeting. The City does not yet own this property, but it is anticipated that the City will acquire this property following the 7/15/13 Council meeting. One of the terms of the proposed purchase agreement is that the City leases the property back to Hills Materials until March 31, 2014, to allow it to ready its new site and remove fixtures and equipment from this property.

Funding Source & Fiscal Impact (if applicable):

The Lease of Property is included in the terms of the purchase agreement. The lease will not generate revenue.Click here to enter text.

Recommendation:

Action: Choose an item. Approval

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Options:

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Attachments & Links:

Staff Memo

Resolution 2013-065

Site Map

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