HomeMy WebLinkAbout06/05/2018 06H Lease Extension Agreement with The Tower, LLCBUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDASTATEMENT
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Item No. 6.H.
For Meeting of: June 5, 2018
ITEM TITLE: Resolution authorizing a Lease Agreement with The Tower, LLC to
provide office space to house the Capitol Theatre staff
SUBMITTED BY: Cliff Moore, City Manager
SUMMARY EXPLANATION:
The City leases space from The Tower, LLC in the downtown Tower building to provide office
space for the Capitol Theatre staff members. This is the same space the Capitol Theatre staff
has been leasing since August 2013.
ITEM BUDGETED:
Yes
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR
SUBMITTAL:
STAFF RECOMMENDATION:
Adopt resolution.
BOARD/COMMITTEE RECOMMENDATION:
ATTACHMENTS:
Description Upload Date
D resolution 5/29/2018
0 Capitol Theatre lease amendment 5/21/2018
Type
Coker Memo
Coker Memo
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RESOLUTION NO. R -2018-
A RESOLUTION concerning administration; authorizing a Lease Agreement with The
Tower, LLC to provide office space to house the Capitol Theatre staff.
WHEREAS, the Capitol Theatre is owned by the City of Yakima and is operated on
the City's behalf by the Capitol Theatre Board of Directors; and
WHEREAS, the Capitol Theatre Board hires and employs staff members to provide
the day to day operations of the Theatre; and
WHEREAS, the City leases space from The Tower, LLC in the downtown Tower
Building to provide office space for the Capitol Theatre staff; and
WHEREAS, the City and The Tower, LLC have agreed upon a reduced lease space
within the Tower Building that will adequately house the Capitol Theatre staff and also reduce
the cost of leased space on behalf of the Theatre; and
WHEREAS, the new lease, attached hereto and incorporated herein by this reference
will replace the previous agreement, and will allow the staff to remain in the premises they
previously occupied; and
WHEREAS, the City Council finds it to be in the best interest of the City to enter into
the attached Lease Agreement to provide for office space necessary and appropriate to the
needs of the Capitol Theatre staff; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager of the City of Yakima is hereby authorized and directed to execute
the attached and incorporated Lease Agreement with The Tower, LLC for office space to
house the Capitol Theatre staff in the Tower Building in downtown Yakima.
ADOPTED BY THE CITY COUNCIL this 5th day of May 2018.
Kathy Coffey, Mayor
ATTEST:
Sonya Claar Tee, City Clerk
TOWER LEASE
EXTENSION AGREEMENT
THE UNDERSIGNEDS, Landlord and Tenant, for and in consideration of the
mutual covenants therein and herein contained do hereby acknowledge and
agree that the term of the following described Lease is hereby extended for three
(3) years extending the Lease term from July 31, 2018 to July 31, 2021 (the first
extended term).
Date of Lease: April 30, 2015
Landlord:THE TOWER, LLC, a Washington Limited Liability
Company
Tenant: CITY OF YAKIMA
(Capitol Theatre Administrative Offices)
Demised Premises: The Tower, Yakima, Washington, Suite 777 consisting
of approximately 2236 rentable square feet
Term Expiration Date: July 31, 2018
Base Rent: $3,354.00 per month payable monthly in advance on
or before the first day of each calendar month, subject to annual
increases, as detailed in sub -section 4.2 of this Lease,
on the following terms and conditions:
1. The Base Rent for the period August 1, 2018 to July 31, 2019, pursuant to
section 1.8 of the Lease, shall be THIRTY SIX HUNDRED SIXTY FIVE
AND NO/100THS DOLLARS ($3,665.00), payable monthly in advance on
or before the first day of each calendar month, but subject to an automatic
increase in the amount of three percent (3%) on August 1, 2019 and
annually thereafter throughout the extended term.
2. All other terms, covenants and conditions of the said Lease, shall continue
in full force and effect throughout the extended term.
i:\shared\legal ass
5/16/2018
orms\tower\first lease extension agreement capitol theatre 2018.doc
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THE TOWER, LLC
By: JEM Tower, Inc.
General Manager
CAPITOL THEATRE COMMITTEE, INC.
Jos i ph R. Morrier,
LANDLORD TENANT
STATE OF WASHINGTON )
) ss.
COUNTY OF YAKIMA )
LANDLORD'S
ACKNOWLEDGMENT
certify that I know or have satisfactory evidence that JOSEPH R.
MORRIER signed this instrument, on oath stated that he was authorized to execute
the instrument, and acknowledged it as the President of JEM TOWER, INC. (as the
General Manager of THE TOWER, LLC) to be the free and voluntary act of JEM
TOWER, INC. in its capacity as General Manager of THE TOWER, LLC for the
uses and purposes mentioned in the instrument.
STATE OF WASHINGTON )
) ss.
COUNTY OF YAKIMA )
Notary P .¢* r< in and for kh
Washington, residing at
My appointment expires:
TENANTS
ACKNOWLEDGEMENT
certi that I know or have satisfactory evidence that
signed this instrument and acknowledged it to be
free and voluntary act for the uses and purposes mentioned in the
strment.
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Nota ryPFjka ic in and for
Washington, residing a
My appointment expi
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ha tlease extension agreement capitol theatre 2018.doc
5/16/2018