CITY of RAPID CITY Agenda Item Summary
Public Works Committee Meeting Date: 7/9/2013		City Council Meeting Date:  7/152013
Staff Contact: Wade Nyberg/Terry Wolterstorff
Agenda Title:
Lease of Real Property with Hills Materials Company for property generally located at 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 Notes: Click here to enter text.
Options:
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Attachments & Links:
Staff Memo	Lease Agreement		Site Map
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