From
Amy Sprinkles
Title
Lease agreement and extensions with the Grand Prairie Historic Organization for use of the former Jaycee building at 1516 W. Main St. for $1 a year for five years, with two five-year extensions
Presenter
Amy Sprinkles, Marketing Director
Recommended Action
Approve
Analysis
The city owns and has renovated the former Jaycee Building at 1516 W. Main. The Historic Organization will use the space as a history museum and meeting space upon the lease of it to them. Per the lease, the organization will pay the city $1 a year for five years, with two five-year extensions. Even though the total does not exceed $50,000, City Council must approve all transactions granting interest in city owned land.
Financial Consideration
The city will be paid $1 a year from the Historic Organization to use the city-owned building.