Loading...
06/15/2021 04E Resolution authorizing a one year lease agreement with the Tower, LLC to provide office space to house the Capitol Theatre staff BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 4.E. For Meeting of: June 15, 2021 ITEM TITLE: Resolution authorizing a one year lease agreement with the Tower, LLC to provide office space to house the Capitol Theatre staff SUBMITTED BY: Bob Harrison, 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. This Agreement is for one year and will be reevaluated in 2022. ITEM BUDGETED: STRATEGIC PRIORITY: APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: Adopt resolution. ATTACHMENTS: Description Upload Date Type D pitol eatre ce pace Lease escalation /*/2021 r e e D 0°1 eatre ce Lease xtension 2 RESOLUTION NO. R-2021- A RESOLUTION 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 15th day of June, 2021. Patricia Byers, Mayor ATTEST: Sonya Clear Tee, City Clerk 3 TOWER SECOND LEASE EXTENSION AGREEMENT This Agreement is made and entered into this day of • - 2021 by and between: THE TOWER, LLC, a Washington Limited Liability Company, as Landlord and THE CITY OF YAKIMA, (CAPITOL THEATRE ADMINISTRATIVE OFFICES), a Washington Municipality, as Tenant The Parties are Landlord and Tenant respectively under that certain Lease dated April 30, 2015 in which Landlord leased to Tenant and Tenant leased from Landlord Suite 777 in the Tower Building in Yakima Washington for a term of three (3) years commencing August 1, 2015. The term of the said Lease was to expire July 31, 2018, but was extended by a Lease Extension Agreement dated May 17, 2018 for an additional three (3) years (the First Extension Term). Said Lease as Extended is hereby incorporated herein and made a part hereof, the same as though set forth in full, and will hereafter be referred to as the 2015 Lease as Extended. The Parties have reached agreement on an additional extension of the term of the 2015 Lease as Extended and now desire to evidence that agreement as follows: NOW THEREFORE, for and in consideration of the mutual covenants and agreements contained in the said 2015 Lease as Extended and this Second Lease Extension Agreement, it is hereby agreed by and between the parties that said Lease will be amended hereto as follows: 1. Section 1.7 of the Basic Lease Provisions, Term Termination Date is amended to read: The Lease termination date is July 31, 2022. 2. Section 1.8 of the Basic Lease Provisions, Base Rent is amended to add the following: The Base Rent for the period from August 1, 2021 to July 31, 2022 shall be THREE THOUSAND EIGHT HUNDRED EIGHTY- EIGHT AND 20/100THS DOLLARS ($3,888.20) PER MONTH, payable monthly in advance on or before the first day of each calendar month. 3. Section 4.2 of the Office Building Lease, Adjustment to Rent, is no longer applicable as of July 31, 2021. 1 \shared\legal assistant\forms\tower\second lease extension agreement capitol theatre 2021 doc 5/27/2021 4 4. All other terms, covenants and conditions of said 2015 Lease as Extended shall continue in full force and effect throughout the Second Extension Term. THE TOWER, LLC CITY OF YAKIMA By: JEM Tower, Inc. General Manager 'oseph R. Morrier, Sr. LANDLORD TENANT STATE OF WASHINGTON) ) ss, LANDLORD'S COUNTY OF YAKIMA ) ACKNOWLEDGMENT I 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. .s trIii1iturj R p.ff 47ED: tur1` F: s Notary Pultic in and for the Statp of NO. 107285 ( Oat r Stamp) Washington, residing at , tut My appointment expires: r//, WAS 'e STATE OF WASHINGTON) ) ss. TENANTS COUNTY OF YAKIMA ) ACKNOWLEDGEMENT I certify that I know or have satisfactory evidence that signed this instrument on oath stated he/she was authorized to execute the instrument and acknowledged it as the of the City of Yakima to be (his/her) free and voluntary act for the uses and purposes mentioned in the instrument: 2 is\shared\legal assistant\forms\tower\second lease extension agreement capitol theatre 2021 doc 5/27/2021 5 DATED: Notary Public in and for the State of (Seal or Stamp) Washington, residing at My appointment expires: 3 Mshareci\legal assistant\forms\tower\second lease extension agreement capitol theatre 2021.doe 5/27/2021