HomeMy WebLinkAboutResolutions - No. 2013-66RESOLUTION NO. 2013-66
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING
THE CITY MANAGER TO ENTER INTO FIFTH 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 Board of Directors of the World of Wonders Science Museum has
requested the City extend the commencement of rent obligations; and
WHEREAS, the World of Wonders Science Museum has invested $550,000 in
improvements and plans to invest an additional $440,000 in improvements plus in-kind
contributions to the City -owned facility, and staff recommends the following:
A) Extend the commencement of rent obligations by five additional years from February
2013 to February 2018 and authorize the City Manager to grant two extensions of three
years and then two years of this rent forbearance based on the City Manager's sole
discretion. The current agreement calls for rent in the amount of $1,030 per month
beginning February 2013; and,
B) Freeze the indexing of rent increases for five years and then three and two additional
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 Fifth 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: April 17, 2013
------------------------------------------------------------------------
------------------------------------------------------------------------
I hereby certify that Resolution No. 2013-66 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held April 17, 2013, by the following vote:
AYES: COUNCIL MEMBERS — Hansen, Johnson, and Katzakian
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — Mounce and Mayor Nakanishi
ABSTAIN: COUNCIL MEMBERS— None
JOHL
City Clerk
2013-66