Item Coversheet

*4.E.2.


Shakopee City Council
November 21, 2023


FROM:Michael Kerski, Planning/Development Director
TO:Mayor and Council Members
Subject:
Termination of lease agreement with Shakopee Chamber of Commerce and Visitors Bureau for land in Memorial Park
Policy/Action Requested:
Approve lease termination with Shakopee Chamber of Commerce and Visitors Bureau for land in Memorial Park.
Recommendation:
Approve lease termination.
Discussion:

The city entered into a long term lease with the Shakopee Chamber of Commerce and Visitors Bureau in 1987 through May 2037 for land in Memorial Park and they constructed a building that served as their offices.

 

They have since relocated to River City Centre and the Economic Development Authority has approved a five year lease at that location.  The building in Memorial Park is now vacant.  The city staff worked with the city attorney to draft an agreement for both parties to terminate the lease in Memorial Park.  The agreement was approved unanimously by the Chamber's Board of Directors.

 

The former Chamber building will be demolished.

Budget Impact:
None
ATTACHMENTS:
Description
Lease Termination
Lease Agreement