Title
Agenda Item:
Approval of Port / City Lease Amendment for Farmer's Market
Body
Issue:
The Olympia Farmers Market, Port of Olympia and City of Olympia have prepared a lease amendment to support the long term sustainability of The Farmers Market.
Committee Recommendation:
Not referred to a committee.
City Manager's Recommendation:
Move to approve and authorize the City Manager to sign Lease Amendment No. 1 with the Port of Olympia for the Farmer's Market property.
Staff Contact:
Steve Hall, City Manager, 360.753.8447
Presenter(s):
Steve Hall
Background and Analysis:
In recent months, representatives from the Olympia Farmers Market, Port of Olympia and City of Olympia have discussed the Market's long term sustainability. The Farmer's Market building, owned by the City, is located on property leased by the City from the Port. The Market, in turn, leases use of the building and land from the City.
The proposed lease amendment provides an improved lease payment structure that supports the Market's desire to maintain and expand services while also meeting the needs of the Port and City. In addition, the City, Port and Market will cooperate on a "Best Practices" consultation from an independent third party that will provide recommendations to enhance the Farmers Market's marketing and business operations.
With this lease amendment, the City's Ground Lease payment to the Port changes from a tiered rate to a flat percentage of gross receipts paid to the City by the Market.
Attached is the recommended Lease Agreement Amendment between the City and the Port. The corresponding Lease Amendment between the City and the Market will be scheduled for Council action at a future meeting. The Market's Executive Director has indicated in writing the Market's support for the recommended lease amendment.
Neighborhood/Community Interests (if known):
None know.
Options:
1. Approve amendment as written.
2. Request additional dialogu...
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