AGENDA CAPTION:
Title
Consider approval of Resolution 2024-245R, approving a five-year Ground Lease Agreement with Ted Breihan Electric Co, LLC to lease city-owned property located at 118 South Edward Gary Street; authorizing the City Manager, or her designee, to execute said lease agreement; and declaring an effective date.
Body
Meeting date: December 17, 2024
Department: Engineering & CIP
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Background Information:
On August 6, 2013, San Marcos City Council approved the purchase of approximately 1.813 acres of land from Union Pacific Railroad (Resolution No. 2013-116R) wherein there were three existing lease agreements that the Union Pacific Railroad assigned to the City.
This lease is a continuation one of the assigned leases with Ted Breihan Electric Co., LLC, a Texas limited liability company, for a portion of City owned property located at 118 South Edward Gary Street. It is time to renew this lease for a term of five years with a commencement date of May 15, 2025.
The rent is $7,860 per ye...
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