AGENDA CAPTION:
Title
Consider approval of Resolution 2024-200R, approving an extension of the lease with the San Marcos Area Chamber of Commerce for the land located at 202 North C. M. Allen Parkway until October 16, 2031; authorizing the City Manager, or her designee, to execute said lease extension on behalf of the city; and declaring an effective date.
Body
Meeting date: October 15, 2024
Department: Capital Improvement Projects / Destination Services
Amount & Source of Funding
Funds Required: n/a
Account Number: n/a
Funds Available: n/a
Account Name: n/a
Fiscal Note:
Prior Council Action: Resolution 1977-49-R: “A resolution of the City Council of the City of San Marcos, Texas, approving a lease agreement between the City of San Marcos and the San Marcos Area Chamber of Commerce, incorporated, whereby a specified tract of city property is to be rented to the Chamber for a period of fifty years with all improvements made thereon to revert to the City upon contract termination; and authorizing the mayor to execute said lease agreement on behalf of the City”; Resolution 1978-36-R amendment: “regarding the financial lending institutions desire to be in a position to assume the Chambers lease should the Chamber default”. Resolution 1978-50R amendment: “the Chamber of Commerce, Incorporated has been informed that it will need to file said lease and amendments of record with the County Clerk of Hays County; and WHEREAS, paragraph XV of the lease and paragraph V of the first amendment and addendum both state that the lease agreement shall not be filed of record; and WHEREAS, the Chamber of Commerce, Incorporated requests that these restrictions be removed from the lease and its amendment;”; Resolution 1999-200R: “to approve an amendment to its lease of City property to add an area for a building expansion project, and to amend the amount of rental paid by the Chamber.” ,
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Background Information:
The San Marcos Area Chamber of Commerce is seeking an extension to allow for future planning.
Council Committee, Board/Commission Action:
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Recommendation:
Recommendation of a four-year lease extension for a total of seven years; expiration of October 16, 2031.