HomeMy WebLinkAboutResolutions - No. 2011-130RESOLUTION NO. 2011-130
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO ENTER INTO FOURTH AMENDMENT TO
WORLD OF WONDERS SCIENCE MUSEUM LEASE
WHEREAS, the World of Wonders Science Museum entered into an agreement with the
City on August 2, 2006, to develop the "shell" space attached to the downtown Lodi Transit
Station parking structure as an interactive science museum focused on children; and
WHEREAS, the World of Wonders Science Museum has engaged in a very successful
campaign to raise funds and has invested $550,000 in improvements, plus in-kind contributions
to the City -owned facility. It has obtained a collection of exhibits through the Exploratorium and
has been open since March 2009; and
WHEREAS, the museum is requesting more time to raise operating capital due to the
existing economy; and
WHEREAS, the Board of Directors of the World of Wonders Science Museum has
requested that the City Council consider amending the current lease agreement as outlined
below:
A) Extend the commencement of rent obligations by two additional years and authorize the
City Manager to grant two one-year extensions of this rent forbearance based on the
City Manager's sole discretion if economic conditions warrant; and,
B) Freeze the indexing of rent increases for two additional years plus the two one-year
extended years, if applicable. The rent is to increase annually by the Consumer Price
Index or 2.5 percent, whatever is larger.
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the City Manager to enter into a Fourth Amendment to the World of Wonders Science
Museum Lease as outlined above; and
BE IT FURTHER RESOLVED that this lease amendment is subject to approval by the
Federal Transit Administration.
Dated: August 17, 2011
I hereby certify that Resolution No. 2011-130 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held August 17, 2011, by the following vote:
AYES: COUNCIL MEMBERS —Hansen, Katzakian, Mounce, Nakanishi, and
Mayor Johnson
NOES: COUNCIL MEMBERS —None
ABSENT: COUNCIL MEMBERS —None
ABSTAIN: COUNCIL MEMBERS— None
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:.RANDI ,SHL
btyClerk
2011-130