10.1. SR 10-03-2016 EOty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 10.1
Agenda Section Meeting Date Prepared by
Work Session October 3, 2016 Cal Portner, City Administrator
Item Description Reviewed by
Discuss Chamber of Commerce Building
Reviewed by
Action Requested
Discuss Chamber of Commerce building and provide direction.
Background/Discussion
The city and the Elk River Area Chamber of Commerce entered into a lease agreement for the city-
owned property they presently occupy on September 1, 1994,with a termination date of Sept. 1, 2009.
The chamber exercised their option to extend the lease for one period of five years,which terminated on
September 1, 2014.
In 2014, the chamber and council negotiated a lease renewal amendment to extend the lease for up to
three years with an option for two single-year extensions.
The Chamber Board is looking at building options to meet their needs for additional office and meeting
room space. They are seeking council feedback regarding the following:
1) The city's short- and long-term plans for the property.
2) Consideration of expansion plans,including a long-term lease and/or option to purchase.
3) Assistance with financing of potential expansion.
4) Financial participation in building improvements.
Financial Impact
NA
Attachments
■ None
POWERED 6T
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