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� ��9.�i��s�� ��+'� .L�����i 6..�. ������ DATE: 3/ i I J% 5 <br />AG�CNDA S�CTION: <br />Reports and recor.unendations <br />ORIGIIVATING DE?T./DIV.: <br />Administrati�n <br />17�PA I30.. i ITElvI DESCRIPTION' •� <br />I Reneival of Lexington Liquor lease <br />E`_ � <br />DEPF. H�'AD APPROVAL. <br />� �i� <br />t1; J'� <br />MGR. REVIEWED/ RECdMM�NpS: <br />� �� <br />Tn I955, the City of Raseviile entexed into the present lease with LaRose <br />Corporatian concerning ihe Lexingtan Lic{uor Stare faci�ities. The lease <br />aareement �uns for a period of 10 yeaxs and includes the right of the <br />City ta renew f4� two five year terms thexeafter, On June 31, the first <br />t�n years of ihe iease will expire. 'I'he Council, at this time, has the <br />optian o� exercising its right to renew for th� first five year pexiod. <br />Under the terms of the agreement, the rent for this five year pexzod <br />commencing July 1, 1975, will be $5,0�0 per yeax ax $670 per month plus <br />any zncre�ses in taxes since 1965. <br />The Liquor Store Mana.ger lxas stated he is sa�tisfied wzth the agree�nent and <br />�ee].s the lease should be ren.ewed. His primary concern has been the main-- <br />tenance cost associated. i+tith the furnace. In meeting with the I�aRose <br />Corparatian, they have assured the Gity that the fuxnace will be overhau2ed <br />completely an.d thzs should a3.le�iate the hi.gh mainrenance casts. <br />In ordsr to continue the lease, the City �►tust natify in tvriting -the leasar <br />o� its intentian to extend the 7.ease. <br />Recoznmended Actian: <br />Motian adopting a resolution authoxizing the Manager to in�orm LaRose Corp- <br />oration of the City of Roseville's intention to rene�t its lease at the <br />Lexingtan Siore. <br />Note: The attarney wil� bring the resolutzon to ti�e Monday me�ting. <br />