City Lease Agreement
The City is moving the Club from our old License to Occupy agreement to a formal Lease Agreement.
In keeping with policy (City-Owned Property Lease/Rental Fees) the lease agreement makes the Club responsible for:
- Taxes: ? we’re not sure… $360 000.00 is our estimate – but we received a permissive tax exemption for 2017/18.
- Rent: $18000.00 based on 5% of the above (a decrease from current $19845.00)
- Operational & Maintenance Fees: $14700.00 (variable amount that will fluctuate with actual costs).
- Water & Sewer: $8466.00
As water and electrical services are not metered; costs are an estimate based on the square footage we use.
This represents an increase of approximately $20-$23,000.00
This represents a net-zero policy, whereby the operational costs of the facility assigned to our footprint are passed on – at full cost to the Club and its membership.
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