City of Coral Gables

File #: 09-0463    Version: 1 Name: CGCC lease agreement
Type: Resolution Status: Adopted
File created: 6/25/2009 In control: City Commission
On agenda: 7/7/2009 Final action: 7/7/2009
Enactment date: 7/7/2009 Enactment #: 2009-191
Title: Resolution renewing the Parking Lot Lease Agreement with Coral Gables Congregational Church for and additional five (5) years beginning February 2, 2009 and ending February 1, 2014 at the rate of $12,000 annually, payable in quarterly installments.
Attachments: 1. Resolution 2009-191.pdf, 2. Congregational Church Parking Lease Cover Memo, 3. CG Congre Church Letter, 4. CG Congregational Church Resolution, 5. CG Congre Church lease agre, 6. Third Amendment CGCC, 7. pab minutes 06-25-09
Title
Resolution renewing the Parking Lot Lease Agreement with Coral Gables Congregational Church for and additional five (5) years beginning February 2, 2009 and ending February 1, 2014 at the rate of $12,000 annually, payable in quarterly installments.
 
Body
The Coral Gables Congregational Church entered into a lease agreement for a City of Coral Gables parking lot adjacent to the Church commencing on February 2, 1989.  The initial term of ten(10) years and the first two five (5) year extensions have expired.
 
The existing contract provides for eight (8) more five (5) year extensions to this lease agreement.  The Parking Advisory Board recommends that the City enter into this third (3rd) five year extension with an annual rate increase from existing $10,000 to $12,000 annually, payable in quarterly installments.