Title
Resolution to Approve a Five-Year Lease Between the City of Ann Arbor and the University of Michigan For City-Owned Property Behind 926 Mary Street ($4500.00 annually) (8 Votes Required)
Memorandum
The City has leased the property behind the Mary Street Polling Place, 926 Mary Street, to the University of Michigan since 1979. The University uses the property as a student parking lot for its tenants at Fletcher Hall, with approximately 12-15 parking spaces. The current lease agreement, dated January 28, 2014, provided a lease term through December 31, 2019 with the option to renew for two successive, one-year lease periods; the final renewal will expire December 31, 2021. The City and the University would like to continue this arrangement and staff is seeking a new five-year lease agreement.
The new lease agreement would include an increase in rent from the current rate of $4120.00 annually, with an option to renegotiate rates with the renewal options. This lease agreement is in line with other parking lot leases the City has negotiated recently with the University. The agreement also includes consideration for the City's use of the parking spaces for certain election days, including the August Primary election, when the spaces are not actively used.
Approval of this resolution is recommended.
Staff
Prepared by: Jacqueline Beaudry, City Clerk
Reviewed by: Michelle Landis, Senior Assistant City Attorney
Reviewed by: John Fournier, Assistant City Administrator
Approved by: Milton Dohoney Jr., Interim City Administrator
Body
Whereas, The agreement between the City of Ann Arbor and the University of Michigan to lease 12 to 15 parking spaces on City-owned property behind 926 Mary Street, Lot 4, Block 4, J.F. Lawrence Subdivision has been in place since 1979;
Whereas, The University utilizes these parking spaces for annual parking permits for its Fletcher Hall tenants;
Whereas, The current lease is expiring December 31, 2021;
Whereas, The City and ...
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