HomeMy WebLinkAboutR-2024-090 Resolution amending the operating agreement with the Capitol Theatre Committee, Inc RESOLUTION NO. R-2024-090
A RESOLUTION amending the Capitol Theatre Operating Agreement between the City of
Yakima and the Capitol Theatre Committee, Inc.
WHEREAS, the City owns the Capitol Theatre and on or about July 9, 2009, CTC and the
CITY entered into an Agreement wherein CTC agreed to operate the Capitol Theatre under City
Contract No. 2009-78 (original contract number) ("Agreement"); and
WHEREAS, the Agreement has been amended numerous times, the most recent of which
was May 16, 2012, amending and restating the Agreement, and creating a 20 year term; and
WHEREAS, CTC is seeking grant funding to enhance and improve the theatre which
requires it to have authority to operate the theatre for a specific amount of time post-grant award,
which exceeds the number of years remaining on the current operating agreement; and
WHEREAS, CTC has been a good steward of the theatre and partner with the City on
bringing events to the CITY for its residents and visitors, and the CITY finds that it will continue to
be a good partner in the future, so it is in the best interest of the CITY and CTC to extend the
Agreement to allow for CTC to apply for grant funding to enhance and improve the theatre; and
WHEREAS, it has been determined by both parties that the Agreement should be
amended to extend the agreement in order to obtain grant funding to improve the Capitol Theatre;
and
WHEREAS, the City Council of the City of Yakima finds that it is in the best interest of the
City and its residents, to extend the Operating Agreement with Capitol Theatre Committee, Inc.,
for the operation of the Capitol Theatre; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The Interim City Manager is authorized and directed to execute the Amendment to the
Capitol Theatre Operating Agreement between the City of Yakima and Capitol Theatre
Committee, Inc., attached hereto and incorporated herein.
ADOPTED BY THE CITY COUNCIL this 7th day of May, 2024.
J!1'
Patricia Byers, Mayor
ATTEST: i *,. 4100
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osalinda Ibarra, City Clerk
AMENDMENT TO
CAPITOL THEATRE OPERATING AGREEMENT
Between
CITY OF YAKIMA
And
CAPITOL THEATRE COMMITTEE, INC.
THIS AMENDMENT TO THE CAPITOL THEATRE OPERATING AGREEMENT
is made and entered into by and between CAPITOL THEATRE COMMITTEE, INC.
("CTC"), and THE CITY OF YAKIMA, a Washington municipal corporation ("CITY").
WHEREAS, on or about July 9, 2009, CTC and the CITY entered into an
Agreement wherein CTC agreed to operate the Capitol Theatre under City Contract No.
2009-78 (original contract number) ("Agreement"); and
WHEREAS, the Agreement has been amended numerous times, the most recent
of which was May 16, 2012, amending and restating the Agreement, and creating a 20
year term; and
WHEREAS, CTC is seeking grant funding to enhance and improve the theatre
which requires it to have authority to operate the theatre for a specific amount of time
post-grant award, which exceeds the number of years remaining on the current
operating agreement; and
WHEREAS, CTC has been a good steward of the theatre and partner with the
City on bringing events to the CITY for its residents and visitors, and the CITY finds that
it will continue to be a good partner in the future, so it is in the best interest of the CITY
and CTC to extend the Agreement to allow for CTC to apply for grant funding to enhance
and improve the theatre; and
WHEREAS, it has been determined by both parties that the Agreement should
be amended to extend the agreement in order to obtain grant funding to improve the
Capitol Theatre;
NOW, THEREFORE, in consideration of the mutual covenants, promises, and
agreements set forth herein, it is agreed by and between the CITY and CTC as follows:
Section 1: Section D(1): Terms of Agreement, of the attached and incorporated
Capitol Theatre Operating Agreement is amended to read as follows:
This agreement shall be in full force and effect for a period of twenty-eight (28) years
from the date set forth at the top of this agreement, subject to the provisions herein and
below.
Section 2: Except as expressly modified herein, all other terms and conditions of the
attached Agreement and its amendments shall remain in full force and effect.
Section 3: Severability. If any section, subsection, paragraph, sentence, clause or
phrase of this Amendment is declared invalid or unconstitutional for any reason, such
decision shall not affect the validity of the remaining portions of this Amendment.
2
CITY CONTRACT NO`n 0 1 _ ' `Mev -*3
RESOLUTION NO' K-2021A o O
CITY OF YAKIMA CAPIT H COMMITTEE, INC.
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Dave Za , erim City Manager d-05 E. (Print name)
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 13.
For Meeting of: May 7, 2024
ITEM TITLE: Resolution amending the operating agreement with the Capitol
Theatre Committee, Inc
SUBMITTED BY: Rosylen Oglesby,Assistant City Manager
SUMMARY EXPLANATION:
The City owns the Capitol Theatre and contracts management and operation to the Capitol
Theatre Committee, Inc. The current contract for management is a 20 year agreement executed
in 2012. The Capitol Theatre is seeking grant funding which requires commitment to operation
for a specific period of time which exceeds the time left in the 20 year lease. This amendment
would extend the operating agreement 8 additional years, to 2040, to accommodate the grant
requirements.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Economic Development
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Adopt resolution.
ATTACHMENTS:
Description Upload Date Type
D Res-Capital Theatre Extension 4/29/2024 Resolution
❑ amendment.capitol.theatre.operating 4/29/2024 Backup Material
❑ R 2012-065 Capitol Theatre Amended and Restated 20- 4/29/2024 Backup Material
Year Operating Agreement