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POLICY OBJECTIVE <br />Not applicable. <br />FINANCIAL IMPACTS <br />The Agreement calls for lease amounts as follows: <br />❖ 2009 -$50,400 (same amount as paid in 2008) <br />❖ 2010 - $53,425 <br />❖ 2011 - $55,560 <br />❖ 2012 - $57,780 <br />STAFF RECOMMENDATION <br />Staff recommends the Council authorize City Staff to approve a new 4-year lease extension with the owners <br />of the Lexington Shopping Center as detailed above. <br />REQUESTED COUNCIL ACTION <br />Motion to authorize City Staff to approve a 4-year lease extension with the Lexington Shopping Center <br />for purposes of operating the City's License Center. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: Original Lease Agreement with Addendums <br />B: Robert Willmus email <br />Page 2 of 2 <br />