HomeMy WebLinkAboutAGENDA REPORT 1994 0202 CC REG ITEM 08P di/ 2
• ITEM
-CRE
AGENDA REPORT
CITY OF MOORPARK
TO: The Honorable City Council
FROM: . Steven G. Hayes, Economic Development Manager X14'---
DATE: January 18, 1994 (CC Meeting of 2-2-94)
( Consent Calendar )
SUBJECT: Authorization to Execute Lease Agreement by and between
the City of Moorpark and Boething Treeland Farms, Inc.
DISCUSSION:
Attached is a copy of the Lease Agreement by and between the City
of Moorpark and Boething Treeland Farms, Inc. The basic terms of
the Lease Agreement are as follows:
1 . One year lease (annual lease) with an extension at
Tenants option for one additional year.
2 . Rent : One year paid in advance in the amount of
$10, 875.24. The rent paid is for January 1,
1994 through December 31, 1994.
Additional rent paid was from August 1, 1993 to
December 31 , 1993 in the amount of $4, 531.35
3 . Additional Rent : 200 fifteen gallon trees or
equivalent.
4 . Liability Insurance: $2, 000,000 bodily injury or death
and $500, 000 loss or damage to property.
The basic changes from the previous agreement are: ( 1) the term
of the lease is for one year with up to a year extension in order
to allow for relocation of Boething' s existing stock, (the
previous agreement was for five years) , (2) the administration
charge in the amount of 10% for handling the trees to be supplied
by Boething to the City has been eliminated, (3) the amount of
rent has been increased 5% in accordance with the terms of the
previous lease agreement. The 1992-1993 Lease Agreement rent was
for $10, 357.34. This years rent is an increase of $517 .90, and
(4) the annual CPI index for increase in rent was eliminated.
:-)" A7K, C!' ^'
;
ACTION: giarelle7,-(4,
L - Af w
•
RECOMMENDATION:
Staff recommends that the City Council authorize the Mayor to
execute the Lease Agreement by and between the City of Moorpark
and Boething Treeland Farms, Inc. subject to final review by the
City Attorney and the City Manager.