Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
FROM:	Diane Stoddard, Assistant City Manager
CC:	Cynthia Wagner, Assistant City Manager
Date:	February 7, 2012
RE:	Arts Center Lease Renewal

Please place the following item on the City Commission agenda:

Authorize the Mayor to execute an amendment to the lease between the City of Lawrence and Lawrence Arts Center, Inc. for the lease of the Lawrence Arts Center facility, located at 940 New Hampshire, allowing for an additional ten-year term. 

Background:

The City of Lawrence and the Lawrence Arts Center, Inc. entered into a lease agreement of the Arts Center located at 940 New Hampshire in late 2000.  The agreement calls for a 10-year term commencing with the original occupation of the new building in 2002.  The agreement will expire in April 2012. 

The City has received a request from the Lawrence Arts Center, Inc. requesting a renewal of the lease. 

Staff recommends that the lease be extended for an additional 10-year term, as envisioned in the original lease document. 

Action Requested:

Authorize the Mayor to execute the amendment to the lease, extending the lease for an additional ten-year term.